HomeMy WebLinkAboutMinutes - Pension Advisory Committee - 04/25/2023Pension Advisory Committee (PAC)
Quarterly Meeting
Tuesday, April 25, 2023, 2:00 – 3:30 pm
City Hall Conference Room 301, 180 Market Street
MINUTES
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Attendees: Martha Machar, Daisy Brayton, Dan Chappell, Dan Boyer, Donna Kinville,
Steve Locke, Brad Datillio, Marc Hachey and Spencer Baker. Absent: Tim Barritt, Larry
Kupferman, Todd Gregory, and Pat Blizzard.
1)Welcome & Introductions
2)Additions, deletions, or changes to agenda – There were no additions, deletions or
changes to the agenda.
3)Approve prior meeting minutes – Minutes were approved as presented.
4)Appoint member to record minutes – Daisy Brayton, agree to record the minutes.
5)SEI review of Q1 Net Performance Report – Dan Cappell, SEI Representative, gave
an overview of the 2021 First Quarter.
Overview – In the first quarter 1 of 2023 the City of South Burlington Pension Plan
generated a positive absolute return of +4.33%. The Plan’s assets were
$41,048,538 as of March 31, 2023.
Market Performance Overview – All markets are positive except for Commodities.
It is very difficult to predict markets. Fixed income markets were very volatile, we
need to remain focused on the long-term and not the short-term.
6) Other business – It was discussed that the October 21, 2021, PAC minutes were
never approved. The committee reviewed the minutes, and they were approved as
submitted.
7) Next Meeting – The next meeting was scheduled for July 11, 2023, from 2:00 – 3:30
pm.
8) Adjourn – Meeting was adjourned at 2:37 pm
Respectfully submitted,
Daisy Brayton, Human Resources Director