Teleconference call was placed to Foster & Foster with Peter McCloud and Taylor Walling joining. Introductions from the OPEB Board, as well as, Foster & Foster were made. Mr. McCloud presented the Actuarial Needs presentation with emphasis on the liability increasing due to the discount rate decreasing. The Board reviewed the Actuarial presentation, a motion to approve by Member Denaro, seconded by Member Comer; with all in favor.
PFM Presentation of the December 31, 2019 Investment Performance
Board reviewed the investment performance for the quarter. Mr. Gannon stated the market continues the slow upward growth. Motion to approve PFM Presentation by Member Comer; seconded by Vice-Chair Abbate, with all in favor.
Approval of US Bank and PFM Invoices for October - December 2019
Motion to approve the above referenced invoices by Vice-Chair Abbate; second by Member Robinson, with all in favor.
Requests from the Public/Employees Present
The meeting of the OPEB Board of Trustees adjourned at 11:45 AM.