Agenda
General Employee Pension Meeting · 2026-05-21 · agenda
This document is the General Employees' Pension Board Quarterly Meeting Agenda for May 21, 2026. It includes approval of minutes from February 19, 2026, and payment of invoices from Burgess Chambers and Foster & Foster. New business includes quarterly reports from Sterling Capital (presented by Blake Myton) and Burgess Chambers and Associates (presented by Mitchell Brennan), an update on Salem Transition by Inez Garcia, and a discussion on legal representation changes. Information items include a signed LOD Letter, Cohen & Steers Tactical Real Estate Fund Documents, and Sterling Capital Management Form ADV part 2A. The next meeting is scheduled for August 20, 2026.
Agenda items
- 1) complete the educational program; 2) pass the final examination; 3) complete the designation application.
- Legal Services
- Business Consulting
- Financial Planning & Advisory
- 1. 1/3 of the number is the mortality assumption rate from the State of Florida.
- 1. Burgess Chambers (1 invoice)
- 1. Burgess Chambers (1 invoice)
- 1. Changes in portfolio valuations due to capital gains or losses, dividends, interest, income and management fees are included in the calculation of returns. All calculations are made in accordance with
- Accounting & Tax
- Business Consulting
- Investment & Securities
- 1. Quarterly Meeting Minutes February 19, 2026
- 1. Quarterly Meeting Minutes February 19, 2026
- 10. BCA has not reviewed the risks of individual security holdings.
- 11. BCA investment reports are not indicative of future results.
- 12. Performance rankings are time sensitive and subject to change.
- 13. Mutual Fund (MF), Collective Investment Trusts (CIT) and Exchange Traded Funds (ETF) are ranked in net of fee universes.
- 14. Separately Managed Account (SMA) and Commingled Fund (CF) returns are ranked in gross of fees universes.
- 15. Composite returns are ranked in universes that encompass both gross and net of fee returns.
- 16. Total Fund returns are ranked in a gross of fee universe.
- 17. Private investments may include performance fees in addition to a management fee. For the purpose of BCA’s calculations, net returns take in consideration both performance and management fees,
- 18. Alternative investments, in contrast to traditional equity and fixed-income approaches, include private equity, private credit, private real estate, venture capital, and hedge funds. These investments
- 19. For a free copy of Part II (mailed w/i 5 bus. days from request receipt) of Burgess Chambers & Associates, Inc.'s most recent Form ADV which details pertinent business procedures, please contact:
- 2. Approval of expenses:
- 2. BCA complies with the Association for Investment Management and Research Performance Presentation Standards (AIMR-PPS). Returns are time-weighted rates of return (TWR).
- 2. Foster & Foster (2 invoices)
- 2. Foster & Foster (2 invoices)
- 2. Larger than expected salary increases (5th year in a row)
- 3. Investment side 4-year average 4.4% assume 7.25%
- Accounting & Tax
- Business Consulting
- Engineering & Architecture
- Legal Services
- Financial Planning & Advisory
- Investment & Securities
- 3. Retirees (2)
- Investment & Securities
- Business Consulting
- Accounting & Tax
- 3. Transaction costs, such as commissions, are included in the purchase cost or deducted from the proceeds or sale of a security. Differences in transaction costs may affect comparisons.
- 4. Individual client returns may vary due to a variety of factors, including differences in investment objectives, asset allocating and timing of investment decisions.
- 5. Performance reports are generated from information supplied by the client, custodian, and/or investment managers. BCA relies upon the accuracy of this data when preparing reports.
- 6. The market indexes do not include transaction costs, and an investment in a product similar to the index would have lower performance dependent upon costs, fees, dividend reinvestments, and
- 7. Performance information prepared by third party sources may differ from that shown by BCA. These differences may be due to different methods of analysis, different time periods being evaluated,
- 8. Certain valuations, such as alternative assets, ETF, and mutual funds, are prepared based on information from third party sources, the accuracy of such information cannot be guaranteed by BCA.
- 9. BCA relies on third party vendors to supply tax cost and market values, In the event that cost values are not available, market values may be used as a substitute.
- L. Michelle Bumgarner, AIF®
- Business Consulting
- Accounting & Tax
- P: 407-644-0111 F: 407-644-0694
- a. Burgess Chambers (1 invoice)
- a. Quarterly Meeting Minutes November 20, 2025
- a. Sterling Capital Quarterly Report Presented by Blake Myton
- a. Sterling Capital Quarterly Report Presented by Blake Myton
- b. Burgess Chambers and Associates Quarterly Report Presented by Mitchell Brennan
- b. Burgess Chambers and Associates Quarterly Report Presented by Mitchell Brennan
- b. Foster & Foster (1 invoice)
- b. Invoices:
- b. Invoices:
- c. Salem Transition Update Presented by Inez Garcia
- c. Salem Transition Update Presented by Inez Garcia
- c. Sterling Capital (1 invoice)
- d. Board to discuss legal representation changes, providing direction to Chair
- d. Board to discuss legal representation changes, providing direction to Chair
- d. Sugarman, Susskind, Herrera (1 invoice)
- e. Salem Trust (1 invoice)
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