HomeMy WebLinkAboutMinutes - Pension Advisory Committee - 04/28/2015Pension Advisory Committee (PAC) 28 April 2015
The South Burlington Pension Advisory Committee held their quarterly meeting on Tuesday,
28 April 2015, at 2pm., in the Medium Conference Room.
Members Present: T. Hubbard, Deputy City Manager, J. Ladd, HR Director, P. Nowak, City
Council, D. Boyer, Police Dept., T. Gregory, Public Works, T. Porter, Fire Dept., P. Blizzard,
SEI Rep., Mike Burke, SEI Rep.
1. Appointment member to record minutes:
· Ms. Ladd was appointed to record minutes.
2. Approval of the minutes from January 20, 2015
3. Comments from the public:
· Mr. Rick Hubbard met with SEI reps prior to the PAC meeting and had a
discussion about the City’s investment plan and would like the City’s
investments to meet the bench mark.
4. Review SEI March 31, 2015 Net Performance Report
· The return on investments was 1.51% vs. 1.43% fiscal YTD. Total performance
was $28.5MM and as of 4.27.2015 it was $29.2MM.
· Equities out performed their bench marks while fixed income benefited from a
rebound.
5. SEI Allocation Discussion
· Discussed proposal of portfolios changes to our plan. Ref. to page 21 of SEI
presentation material. The committee asked for more additional information on real
estate and how much is the three extra points to pay for this service? Who do they
partner with for private real estate investments? How do the funds work? SEI to
bring this information to our next quarterly meeting.
6. Actuary Service Update
· Continuing working with Peoples towards the pension website calculator.
7. Other Business
· None
8. Next Scheduled Meeting:
· The Committee agreed to meet on July 21, 2015 at 2pm.