Agenda Packet
General Employee Pension Meeting · 2026-05-21 · agenda_packet
The City of Cocoa Beach General Employees' Pension Board held a quarterly meeting agenda on Thursday, May 21, 2026. The agenda included approval of minutes from February 19, 2026, and payment of invoices from Burgess Chambers and Foster & Foster. New business included a Sterling Capital Quarterly Report, a Burgess Chambers and Associates Quarterly Report, and an update on the Salem Transition. The board also discussed legal representation changes. Information items included a signed LOD Letter, Cohen & Steers Tactical Real Estate Fund documents, and Sterling Capital Management Form ADV Part 2A. The next quarterly 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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