At the regularly scheduled meeting of the Fire and Police Pension Fund Board of Directors held on the 3rd day of November 2016, President Craig Joel presided. The meeting was held at the Pension Office, 6009 John Douglass Drive, Chattanooga, TN 37421.
The meeting convened at 0914 hours with board members Craig Joel, Kelly Simmons, Mark Coffman, Phillip McClain, Charlie Thomason, Tommy Meeks, and Vickie Haley. Attorney Bill Robinson was also present.
Motion by Phillip McClain and seconded by Kelly Simmons to approve the minutes of the October 20, 2016 meeting. Motion carried unanimously.
Attorney Bill Robinson reported that the 6th Circuit Court of Appeals has not made a ruling at this time on the Frazier case. He reminded the Board the oral argument for the Dodd case is scheduled for November 30, 2016 in the 6th Circuit Court of Appeals.
Motion by Mark Coffman and seconded by Phillip McClain to approve the following membership items:
REMOVE FROM THE ROLLS:
Frances Carroll, surviving spouse of Retired Fire Captain John C. Carroll, effective 10/31/2016, died 10/29/2016 (2-411)
APPROVED DISABILITIES:
Police Officer Joseph Sabba, approved for Job-related Disability, effective 11/01/2016, No J&S Elected (2-412)
Fire Captain Robert Dean Bates, approved for Job-related Disability, effective 11/01/2016, No J&S Elected (2-412)
Motion carried unanimously.
The Board reviewed the bills paid since the last meeting.
The Board discussed the NCPERS Accredited Fiduciary Modules and Public Safety Conference that sworn directors attended last week.
Pointer appeared before the Board to discuss the hedge fund’s performance. Wallace Johnson and Mark Hicks of Gerber Taylor Associates presented the 3Q-2016 Investment Performance report to the Board. Gerber Taylor recommends gradually reducing the Fund’s allocation to hedge funds by one third. The Board will discuss this further in subsequent meetings.
Motion by Kelly Simmons and seconded by Mark Coffman to adjourn at 0932 hours. Motion carried unanimously.
Notes:
Craig Joel Mark Coffman
President Secretary
