HomeMy WebLinkAbout2021-04-15 Minutes Policemen's Pension and Relief Fund
Board of Trustees Minutes
April 15,2020
Page 1 of 3
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Lioneld Jordan Chairman Ruston Cole Retired Position 2
Kara Paxton Treasurer John Brown Retired Position 3
�F d—��'� `� Melvin Stanley Retired Position 4
Eldon Roberts Secretary I o Bii�
Retired Position I Frank Johnson Retired Position 5
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Policemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
April 15,2021
A meeting of the Fayetteville Policemen's Pension and Relief Fund Board of Trustees was held
on April 15,2020 at 3:00 p.m. via teleconference in Room 326 of the City Administration Building
located at 113 West Mountain Street, Fayetteville, Arkansas.
Mayor Jordan called the meeting to order.
Board Members Present: John Brown, Ruston Cole, Eldon Roberts, Melvin Stanley, Mayor
Jordan, and City Clerk Kara Paxton
• Staff and Others Present: Finance Director Paul Becker, Assistant City Attorney Blake
Pennington,and Deputy Clerk Lisa Branson. In addition,Glenn Atkins and James Bell with
Garrison Financial were present via teleconference.
Absent: Frank Johnson
Garrison Financial:
Quarterly Reports ending December 31st, 2020 and March 31st,2021
James Bell spoke primarily about the quarter ending March 31st, 2021. Provided information
regarding the ending balance of just over $6,013,000 for the quarter. He went on to explain the
changes to the portfolio. He went on to explain that a few companies had been added to the
portfolio but explained that Garrison Financial would continue to monitor these companies.
Garrison Financial also removed a company from the portfolio. He finished up his performance
report by explaining stock was up by 4.8% and bonds were down by 1.87%.
Glenn Atkins spoke about interest rates being down for fixed income by about 2%. He provided
additional information regarding the portfolio regarding the changes with adding and removing
companies from the portfolio. He also explained that the portfolio was up by almost 6% instead
of the indexed 2%. Glenn talked about the lower risk being taken due to the risk being placed in
• solid corporate bonds,which have maturities right on top of the index,instead of interest rate risks.
Glenn when on to explain that he has been very pleased with the last 12 months of performance.
Policemen's Pension and Relief Fund
Board of Trustees Minutes
April 15,2020
Page 2 of 3
• Minutes:
Approval of the October 15th, 2020 meeting minutes
John Brown moved to approve the October 15th, 2020 meeting minutes
Cole,e MelRvintStanley,
Cole
seconded the motion. The motion passed 6-0. John Brown,
Eldon Roberts, City Clerk Kara Paxton and Mayor Jordan voted yes. Frank Johnson was
absent.
Pension List Changes•
Joyce Williams—Date of Death 11/06/2020
A roval of the Pension List:
Approval of the revised June, July, August, September, October 2020 pension lists.
Approval of the November,December 2020 and January,February,March and April 2021 pension
lists.
Eldon Roberts moved to approve the December 2020 & January through April 2021 revised
• Pension Lists. Melvin Stanley seconded the motion.
° nd, John Mayor Jordan
rown,
Ruston Cole, Melvin Stanley, Eldon Roberts, City Clerk Kara Paxton
voted yes. Frank Johnson was absent.
ension Lists.
Melvin Stanley moved to approve the May through October
John Brown PRuston Cole, Melin
Roberts seconded the motion. The motion passed 6-0.
Stanley, Eldon Roberts, City Clerk Kara Paxton and Mayor Jordan voted yes. Frank
Johnson was absent.
New Business:
Revenue Expense Summary 12/31/2020 & 03/31/2021
Lisa Branson, Deputy City Clerk stated that is the report that the accounting department
completes for every meeting.
Informational:
Next Meeting—October 21, 2021
• Note: All meetings are tentative and subject to change. The City meetings calendar is located on
•xnu fayetteville-ar. ;ov
Policemen's Pension and Relief Fund
Board of Trustees Minutes
April 15.2020
Page 3 of 3
• Adjourn: 3:25 p.m.
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