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Agenda 11-27-17 CITY OF BOYNTON BEACH BOARD OF TRUSTEES GENERAL EMPLOYEES' PENSION PLAN Quarterly Board Meeting Monday November 27, 2017 Location: Commission Chambers, City Hall 100 E. Boynton Beach Blvd. Boynton Beach, FL 33435 Plan Administrator: (561) 624-3277 Time: 1:30 PM AGENDA I. Call to Order II. Approval of Agenda III. Approval of Minutes A. Regular Quarterly Meeting —August 28, 2017 IV. Presentations A. Southeastern Advisory Services: Jeff Swanson (Investment Consultant) 1. Quarterly Investment Performance Report September 30, 2017 V. Correspondence VI. Old Business A. Update on Employment after Bona Fide Retirement B. Update on Tribune Litigation VII. New Business A. Attorney Report 1. Electronic Filing Requirement Letter 2. Cancellation of Annual Conference 3. Dale Sugarman's Joint Annuitant Change request B. Administrative Report 1. Upcoming FPPTA Conference 2. 2018 Meeting Schedule - Draft 3. Warrant for Invoices 4. Benefit Approvals 5. Interim Financials VIII. Public Comments IX. Adjournment ❖ NEXT QUARTERLY MEETING DATE: Monday February 26, 2018 at 1:30 p.m. If a person decides to appeal any decision made by this Board with respect to any matter considered at this meeting,he/she will need a record of the proceedings, and that, for such purpose, he/she may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. (F.S.286.0105) Notice: The City shall furnish appropriate auxiliary aids and services where necessary to afford an individual with a disability an equal opportunity to participate in and enjoy the benefits of a service, program, or activity conducted by the City. Please contact the City Clerk's office at (561) 742-6060 at least 24 hours prior to the program or activity in order for the City to reasonably accommodate your request. Meeting Minutes General Employees' Pension Fund Boynton Beach, Florida August 28, 2017 MINUTES OF THE GENERAL EMPLOYEES' PENSION PLAN REGULAR BOARD MEETING HELD ON MONDAY AUGUST 28, 2017 AT 1:30 PM IN COMMISSION CHAMBERS, CITY HALL, BOYNTON BEACH, FLORIDA Trustees:Steven Grant Others: Jeff Swanson, Southeastern Advisory(via Lori LaVerriere Telephone) Cathy McDeavitt Bonni Jensen, Office of Klausner, Kaufman, Michael Low Jensen, Levison Laurie Fasolo Kerry Dutton, Resource Centers Sheryl Claude Everyone stood for the Pledge of Allegiance. I. Call to Order— Mayor Steven B. Grant Mayor Grant called the meeting to order at 1:30 P.M. II. AGENDA APPROVAL: A. Additions, Deletions, Corrections The Board requested the addition of the upcoming FPPTA Conference under new business. Motion Ms. Lori LaVerriere moved to approve the Agenda as amended. Mr. Low seconded the motion that unanimously passed 6-0. III. APPROVAL OF MINUTES A. Regular Quarterly Meeting —May 22, 2017 Motion Ms. Cathy McDeavitt moved to approve the minutes of the regular meeting on May 22, 2017 as presented. Ms. Fasolo seconded the motion that unanimously passed 6-0. IV. INVESTMENT REPORT A. Southeastern Advisory Services: Jeff Swanson (Investment Consultant) 1. Quarterly Investment Performance Report as of June 30, 2017 Mr. Swanson reviewed the performance of the market environment for major market indexes as of June 30 2017. He reviewed the current activity on the non US markets. He reported that for quarter ending June 30, 2017, the Plan's returns were 8.7%. He notated the fiscal year to date 1 Meeting Minutes General Employees' Pension Fund Boynton Beach, Florida August 28, 2017 return is ahead of the expectant rate of return. He reported that the total value of the Plan as of June 30, 2017, including the R&D account were$161,929,962. He expressed there to be a very good chance for an experience gain this year. He reviewed the attributing factors which lead to a positive return. He reviewed the allocation of assets for the quarter; Domestic Equity 44.9%, International Equity 17.0%, Real Estate 13.9%, Fixed Income 21.1% and Cash 3.1%. He stated it was a very strong quarter. He reviewed the market environment for each investment sector. He stated the Fund is well positioned for the current market. He reviewed the 1 year Total Fund- Gross of Fees returns was 12.5% versus the index at 13.8%. He reviewed that for the quarter the Total Fund-Gross of Fees was 3.1% matching the index of 3.1%; Total Domestic Equity was at 3.2% versus the index at 2.9%; Total International Equities were at 7.3% versus the index at 6.1%; Total Real Estate was at 1.8% versus the index at 1.7% and Total Fixed Income was at 1.4% meeting the benchmark of 1.4%. Mr. Swanson stated the Plan is well diversified. Mr. Swanson reviewed each manager individually. He noted DePrince Race Zollo has been placed on watch due to the management change not due to underperformance. He reported that all guidelines have been met in the policy compliance. Mr. Swanson confirmed the Fund is currently waiting in queue for JP Morgan Special Situation Fund: He recommended rebalancing the portfolio by transferring $750,000 from the Clearbridge Fund and $750,000 from the DePrince Race Zollo Fund. He then recommended the total of the $1,500,000 to purchase equal shares of EuroPacific, Harding International, and Oppenhemier within the Mutual Fund. Motion Mr. Michael Low moved to approve the recommendation of rebalancing the portfolio by transferring $750,000 from the Clearbridge Fund and $750,000 from the DePrince Race Zollo Fund for a total of the $1,500,000 to purchase equal shares of EuroPacific, Harding International, and Oppenhemier within the Mutual Fund. Ms. McDeavitt seconded the motion that unanimously passed 6-0. V. CORRESPONDENCE There was no correspondence. VI. OLD BUSINESS There was no old business. VII. NEW BUSINESS k Attorney Report 1. Legislative Update Ms. Jensen stated there are no pension bills that are significant at this time. She explained the pre-suit written notice on public records requests and explained a 5 day notice is now required if proper notification is posted. She summarized the bill pertaining to disabled tax exemption but does not apply to non-public 2 Meeting Minutes General Employees' Pension Fund Boynton Beach, Florida August 28, 2017 safety plans. She explained the pending legislation referencing additional $25,000 homestead exemption. Ms. Jensen explained the pending legislation must pass at 60% since it's an amendment. B. Administrative Report 1. Trustee Linda Cross's Resignation — City Appointed Ms. Dutton notified the Board if Ms. Cross's resignation. She explained the seat on the board must be a city resident that is appointed by the City. 2. Engagement Letter for FY2017 Audit from Cherry Bekaert LLP Ms. Dutton presented the engagement letter for the upcoming fiscal year 2017 audit. Motion Mr. Michael Low moved to approve the FY2017 Audit engagement letter from Cherry Bekaert LLP. Ms. LaVerriere seconded the motion that unanimously passed 6-0 3. PRC Administrative Fee Increase Approved in 2014 Ms. Dutton recapped the motion made in 2014 approving the fee increase. She explained the fee was not properly implemented and was recently discovered. She stated the fee approved in 2014 compared to the amount invoiced and paid. She reviewed the invoice# 15700. Motion Ms. Cathy McDeavitt moved to approve the PRC invoice# 15700 in the amount of$22,275. Ms. Claude seconded the motion that unanimously passed 6-0 4. Update JP Morgan & Alliance Bernstein Signature Authorizations Ms. Dutton notified the Board the signature authorizations for both the Alliance Bernstein and JP Morgan portfolios are outdated and need to be updated. 5. Warrant for Invoices The Board reviewed the Disbursements presented for approval by the administrator. Motion Ms. Laurie Fasolo moved to approve the invoices that were presented by the administrator. Mr. McDeavitt seconded the motion that unanimously passed 6-0 6. Benefit Approvals The Board reviewed the Benefit Approvals presented for approval by the Administrator. Motion • Mr. Low moved to approve the benefits in the Benefit Approval as presented. Ms. Claude 3 Meeting Minutes • General Employees' Pension Fund Boynton Beach, Florida August 28, 2017 seconded the motion that unanimously passed 6-0. 7. Interim Financials Ms. Dutton noted interim financials are to be reviewed and filed with no action needed. Motion Ms. Lori LaVerriere moved to approve the interim financials as presented. Ms. McDeavitt seconded the motion that unanimously passed 6-0. 8. FPPTA Conference Ms. McDeavitt requested attendance to the upcoming FPPTA Conference. VIII. PUBLIC COMMENTS There were no Public Comments IX. ADJOURNMENT There being no other business and the next meeting having been previously scheduled for Monday, November 27th at 1:30 p.m., the Trustees adjourned the meeting at 2:04 p.m. MINUTES APPROVED: November 27, 2017 Steven B. Grant, Mayor Boynton Beach General Employees' Pension Board 4 Employees' Pension Plan of the City of Boynton Beach, Florida Strike all of current Section 18-125 and insert in its place a new section as follows: Sec. 18-125 Reemployment, election or appointment to the City after retirement. (a) Any retiree who is retired under this plan, except for disability retirement as previously provided for, may be reemployed by any public or private employer, except the City, and may receive compensation from that employment without limiting or restricting in any way the retirement benefits payable under this plan. Reemployment by the City shall be subject to the limitations set forth in this section. (b) After normal retirement. (1) Any retiree who is retired on normal retirement pursuant to this plan who is re-employed by the City and who is not at age 62 at date of retiremement, will, upon being re-employed, discontinue receipt of benefits. Re-employed for purposes of this section includes election or appointment to the City Commission. (2) However, if that normal retirement is bona fide, then the retiree who is re-employed by the City will upon being re-employed continue receipt of benefits. Re-employed for purposes of this section includes election or appointment to the City Commission. The Trustees are the sole determinant as to whether the normal retirement is bona fide based upon the facts and circumstances presented (3) If, upon re-employment, the re-employed retiree is eligible to participate in this plan, the retiree shall be deemed a new employee subject to any vesting and contribution requirements. a, The additional credited service accrued during the subsequent employment period shall be used in computing a second benefit amount attributable to the subsequent employment period, which benefit amount shall be added to the benefit determined upon the initial retirement to determine the total benefit payable upon final retirement. b. Calculations of benefits upon initial retirement shall be based upon the benefit accrual rate, average annual earnings, credited service and cost-of-living adjustment as of that date and the retirement benefit amount for any subsequent Page 1 of 3 employment period shall be based upon the benefit accrual rate, average annual earnings (based only on the subsequent employment period), credited service and cost-of-living adjustment as of the date of the subsequent retirement. c. The optional form of benefit and any joint pensioner selected upon initial retirement shall not be subject to change upon subsequent retirement except as otherwise provided herein, but the member may select a different optional form and joint pensioner applicable to the subsequent retirement benefit. d. If a re-employed retiree does not re-vest during his re- employment period, he shall, upon termination of employment, receive a return of his. contributions made during his re- employment period. (c) After early retirement. (1) Any retiree who is retired under early retirement pursuant to this plan and who subsequently becomes an employee of the City in any capacity, including election or appointment to the City, shall discontinue receipt of benefits from the plan upon rehire. a. If by virtue of that re-employment, the retiree is eligible to participate in this plan, the retiree shall be deemed to be one hundred (100) percent vested upon re-employment. b. The additional credited service accrued during the subsequent employment period shall be used in computing a second benefit amount attributable to the subsequent employment period, which benefit amount shall be added to the benefit determined upon the initial retirement to determine the total benefit payable upon final retirement. c. Calculations of benefits upon retirement shall be based upon the benefit accrual rate, average annual earnings, credited service, cost-of-living adjustment and early retirement reduction factor as of that date and the retirement benefit amount for any subsequent employment period shall be based upon the benefit accrual rate, average annual earnings (based only on the subsequent employment period), credited service, cost-of-living adjustment and early retirement reduction factor, if applicable, as of the date of subsequent retirement. d. The optional form of benefit and any joint pensioner selected Page 2 of 3 upon initial retirement shall not be subject to change upon subsequent retirement except as otherwise provided herein, but the member may select a different optional form and joint pensioner applicable to the subsequent retirement benefit. Retirement pursuant to an early retirement incentive program shall be deemed early retirement for purposes of this section if the member was permitted to retire prior to the customary retirement date provided for in the plan at the time of retirement. (d) Re-employment of terminated vested persons. (1) Re-employed terminated vested persons, including those elected or appointed to the City Commission, shall not be subject to the provisions of this section until such time as they begin to actually receive benefits after termination of employment in accordance with Section 18-117. (2) Upon receipt of benefits, terminated vested persons, including those elected or appointed to the City Commission, shall be treated as normal or early retirees for purposes of applying the provisions of this section and their status as an early or normal retiree shall be determined by the age they elect to begin to receive their benefit. (e) In addition to these provisions and in accordance with Code Section 401(a)(36), an in-service pension distributions may be made in the limited circumstance where a retiree is who retired on normal retirement who has attained age 62 is re-hired by the City, including those elected or appointed to the City Commission. C:\Users\bonni\Soonr Workplace\PENSION\BB GE 1297\Plan Docs\AMEND\2015\employment after bona fide retirement.wpd Page 3 of 3 INTER-OFFICE CORRESPONDENCE MEMORANDUM TO: Lori LaVerriere, City Manager CC: Tim Howard,Assistant City Manager FROM: James A. Cherof, City Attorney Brian J. Sheanan,Assistant City Attorney DATE: September 26, 2017 RE: City of Boynton Beach ("City") lin re. Tribune Company Fraudulent Conveyance Litigation, 11-MD-2296 (RJS)(S.D.N.Y.) Kirschner v. FitzSimons, et al., 12-CV-2652 (RJS) (S.D.N.Y.) ("FitzSimons Action") Enclosed, please find a' copy of the Amended Confidential Settlement Notice to Certain Shareholder Defendants in the above referenced litigation requesting$13,307.60 from the City to settle the above styled Federal lawsuits. As a Shareholder Defendant, the City has been dismissed as a Defendant in this matter, but that Order is under appeal by the Plaintiffs. In Re: Tribune Company Fraudulent Conveyance Litigation, The Official Committee of Unsecured Creditors of Tribune Company, et al., v. Dennis J. Fitzsimons, et al, is a lawsuit currently filed in the United States District Court for the Southern District of New York in which the City of Boynton Beach ("City") is named as a defendant. The Plaintiffs alleged that the City received a financial benefit of $54,434.00 from the leveraged buyout of Tribune Company in 2007, and this lawsuit attempts to recover those funds due to the alleged `fraudulent' sale of Tribune stock by investors.No specific wrongdoing by the City was alleged and our research has indicated that the City of Boynton Beach General Employees' Pension Plan was the true recipient of these funds. We have continuously kept Ms. Bonni Jensen,Esq., counsel for General Employees' Pension Plan, updated on the status of this matter. The Plaintiffs are therefore offering to settle all claims against the City in exchange for a single cash payment of 16% of all Shareholder Payments received from Step One of the Tribune leveraged buyout ("LBO"), and 36% of all Shareholder Payments received from Step Two of the Tribune LBO. The approximate amount being requested from the City under this settlement is $13,307.60, as the City's General Employees' Pension Fund received $31,382.00 on under Step One and$23,018.00 under Step Two of the LBO. The Plaintiff has indicated that this offer will expire one week prior or oral argument in Merit Mgmt. Grp., LP v. FTI Consulting, Inc., No. 16-784 ("Merit Mgmt"), which was granted review by the United States Supreme Court on May 1, 2017 (see 137 S. Ct. 2092 (2017)). The Plaintiff believes the United States Supreme Court will affirm Merit Mgmt, which may permit the prosecution of the shareholder clawback claims under a constructive fraud theory. The Plaintiffs have asserted this constructive fraud theory in the Fifth Amended Complaint, which was recently (00197312.1 306-9001821) denied by the Court without prejudice. The Plaintiff has stated that they intend to re-file their request to amend the Complaint following the outcome of Merit Mgmt. Oral argument in Merit Mgmt is currently scheduled to occur on November 6, 2017. We recommend that the City does not settle this lawsuit as Plaintiff must still prevail on its appeal of the dismissal the Shareholder Defendants. Additionally, the City's risk is $54,400.00, which is the total amount it received from the LBO, plus costs, interest, and fees if awarded by the Court. After your review of the enclosed Amended Confidential Settlement Notice to Certain Shareholder Defendants,please contact our office to discuss how the City desires to proceed. JAC:BJS Enclosure (00197312.1306-9001821) AMENDED CONFIDENTIAL SETTLEMENT NOTICE TO CERTAIN SHAREHOLDER DEFENDANTS—SUBJECT TO FEDERAL RULE OF EVIDENCE 408 In re: Tribune Company Fraudulent Conveyance Litigation, 11-MD-2296 (RJS) (S.D.N.Y.) Kirschner v. FitzSinzons,et al, 12-CV-2652 (RJS) (S.D.N.Y.) ("FitzSimons Action") Deutsche Bank Trust Co.Ams., et al. v.Adaly Opportunity Fund TD Secs.Inc., et al., 11-CV- 04784 and all other cases on Schedule A(together, "the Noteholder Cases") Niese, et al. v.Alliance Bernstein L.P., 11-CV-04538 (S.D.N.Y.) and all other cases on Schedule B (together, "the Retiree Cases") September 6, 2017 This communication is addressed only to counsel for certain defendants in the FitzSimons Action, the Noteholder Cases and the Retiree Cases (collectively the "Shareholder Actions") referenced above and to certain pro se defendants (i.e., defendants that have not retained counsel). If you are represented by counsel in this matter,please deliver this communication to your counsel. This Notice updates the Trustee's Settlement Notice dated August 21,2017 to bring two new developments and important matters to your attention: 1. On August 24, 2017, Judge Sullivan issued an order in the FitzSimons Action denying without prejudice the Trustee's request to amend his operative complaint to include a constructive fraudulent conveyance claim. In his order, Judge Sullivan stated that"[i]f, and when,the Supreme Court affirms the Seventh Circuit in FTI Consulting, the Trustee would have a strong argument in support of amending his complaint to include a constructive fraudulent conveyance claim." No. I1-MD-2296 [Dkt.No. 7019] (emphasis added). If and when the Supreme Court affirms in FTI Consulting,the Trustee will promptly re-file his request to amend the operative complaint in the FitzSimons Action to include the constructive fraudulent transfer claim. 2. On August 31, 2017,the Supreme Court set Merit Mgmt. Grp., LP v. FTI Consulting, Inc. for oral argument on November 6, 2017. See Supreme Court Docket No. 16-784, available at https://www.superemecourt.gov. Consequently, as provided in the Trustee's original notice,this settlement offer will expire on October 30,2017 (one week before the argument date). Any defendant interested in settling pursuant to this agreement must execute the settlement agreement and make the agreed upon settlement payment by October 30,2017. Marc S. Kirschner, Litigation Trustee("the Trustee") and Plaintiff in the FitzSimons Action and all Plaintiffs in the Noteholder Cases and the Retiree Cases (together with the Trustee, "Plaintiffs") hereby offer to settle all of the claims in the Shareholder Actions to recover payments to certain defendants in connection with the Tribune LBO (as defined below). Mr. Kirschner was appointed to be the Litigation Trustee of the Tribune Litigation Trust by the United States Bankruptcy Court for the District of Delaware. Plaintiffs in the Retiree Cases are former Tribune employees and creditors with allowed, unpaid claims against Tribune. Plaintiffs in the Noteholder Cases are indenture trustees acting on behalf of former Tribune bondholders with allowed, unpaid claims against Tribune. Plaintiffs are making this settlement offer for a limited time to provide defendants that received between $50,000 and $1,000,000 in aggregate payments from Tribune for Tribune stock in connection with the Tribune LBO (hereafter "Shareholder Payments") an opportunity to consensually fully and finally resolve all Shareholder Actions. If you or your client(hereafter, "you") is eligible to participate in the settlement and chooses to do so, all Plaintiffs will provide legal releases of all claims asserted in all of the Shareholder Actions and dismiss you with prejudice from all such cases in which you were or are named. At the present time Plaintiffs' claims for Shareholder Payments have been dismissed, and are on appeal or will be appealed at the appropriate time. However, Plaintiffs believe that a ruling expected from the United States Supreme Court early next year in Merit Mgmt. Grp., LP v.FTI Consulting, Inc., No. 16-784 ("Merit Mgmt."), which was granted review on May 1, 2017 (see 137 S. Ct. 2092 (2017)), on the proper scope and application of 11 U.S.C. § 546(e), coupled with the Trustee's decision to seek to amend the FitzSimons Action to assert a constructive fraudulent conveyance claim against you based on that ruling, could legally enable some, if not all, of the Plaintiffs to pursue their claims to recover the Shareholder Payments the vast majority of the defendants received (subject to a single collective recovery). The Plaintiffs are therefore offering to settle all claims against qualifying defendants in exchange for a single cash payment of 16% of all Shareholder Payments you received from Step One of the Tribune LBO, and 36% of all Shareholder Payments you received from Step Two of the Tribune LBO (defined below),inclusive of all interest and fees. The foregoing offer is based on settlement payments of just 10% of your Step One Shareholder Payment and 20% of your Step Two Shareholder Payment, plus 9% prejudgment interest from the dates_ you received the payment in 2007 (less a favorable, temporary discount on the interest). Summary of Litigations Plaintiffs' claims against you arise from the leveraged buyout of Tribune Company that closed in two steps in 2007 (the"Tribune LBO"). In the Tribune LBO, Tribune transferred funds to shareholders and other parties in exchange for their shares on or about June 4, 2007 ("Step One" of the LBO) and again on or about December 20, 2007 ("Step Two"of the LBO). Tribune filed for bankruptcy protection less than one year after the Step Two transfers were made. • The FitzSimons Action was commenced by the Official Committee of Unsecured Creditors of Tribune in November 2010 on behalf of Tribune's creditors that were harmed by the LBO. The right to prosecute the FitzSimons Action has been assignedto the Tribune Litigation Trust,which filed the Fifth Amended Complaint on August 1, 2013. The FitzSimons Action is currently pending for pretrial proceedings in the United States District Court for the Southern District of New York. Count 1 of the FitzSimons Action alleges that the Shareholder Payments were 2 intentional fraudulent conveyances under federal law because, among other things,they were made by Tribune with actual intent to hinder, delay, or defraud Tribune's creditors. If you have been named as a defendant in Count 1, it is because various records received by the Trustee show that you received, directly or indirectly, at least$50,000 in Shareholder Payments. You previously have been served with the complaint and/or amended complaints. A copy of the Fifth Amended Complaint can be viewed at www.tribunetrustlitigation.com under the "Documents"tab. FitzSimons Action Status: On January 6, 2017, the District Court issued an opinion and order dismissing Count 1,which asserts an intentional fraudulent transfer claim against all shareholder defendants(the"Count One Order"). In re Tribune Co. Fraudulent Conveyance Litig.,No. 11- MD-2296, 2017 WL 82391 (S.D.N.Y. Jan. 6, 2017). By letter dated February 1, 2017,the Litigation Trustee indicated his intention to appeal the Count One Order, and by order dated February 23, 2017, the District Court agreed to enter a final judgment permitting the interlocutory appeal of the Count One Order at an unspecified future time once the remaining motions to dismiss are resolved. No. 11-MD-2296 (S.D.N.Y. Feb 23, 2017) [Dkt.No. 6944]. On July 18, 2017,the Litigation Trustee sought approval from the Court to make a motion to amend the Fifth Amended Complaint to add a new Count 1-B,which would assert a constructive fraudulent transfer claim against the vast majority of shareholder defendants,the effect of which would be stayed pending the U.S. Supreme Court's ruling in Merit Mgnit. In MeritMgmt.,the Seventh Circuit Court ofAppeals joined one other circuit in declining to interpret the securities safe harbor embodied in 11 U.S.C. § 546(e)to include fraudulent transfers that passed through a financial institution as a mere conduit. 830 F.3d 690 (7th Cir. 2016). The Litigation Trustee believes that if the Supreme Court affirms it will permit the prosecution of the shareholder clawback claims against the vast majority of shareholder defendants under a constructive fraud theory. In his July 18, 2017 letter the Trustee also asked the Court to defer entering a final judgment in respect of the Count One Order. On August 24, 2017, Judge Sullivan issued an order denying without prejudice the Trustee's request to amend his operative complaint to include a constructive fraudulent conveyance claim. In his order, Judge Sullivan stated that"[i]f, and when, the Supreme Court affirms the Seventh Circuit in FTI Consulting,the Trustee would have a strong argument in support of amending his complaint to include a constructive fraudulent • conveyance claim." No. 11-MD-2296 [Dkt.No. 7019]. Noteholder/Retiree Cases Status: Many of the defendants named in the FitzSimons Action were also sued in the Noteholder Cases (see schedule A) or Retiree Cases(see schedule B); in addition the Noteholder Cases included claims against a defendant class of former Tribune shareholders. On September 23, 2013,the District Court issued an opinion and order dismissing the Noteholder Cases and the Retiree Cases for lack of standing. In re Tribune Co. Fraudulent Conveyance Litig., 499 B.R. 310 (S.D.N.Y. 2013), aff'd, 818 F.3d 98 (2d Cir. 2016),pet.for cert. filed sub nova. Deutsche Bank Trust Co.Anis. v. Robert R. McCormick Found,No. 16-317 (U.S. Sept. 9,2016). That order was subsequently affirmed on alternative grounds by the U.S:Court ofAppeals for the Second Circuit on March 29,2016. The Noteholder Plaintiffs petitioned the U.S. Supreme Court for a writ of certiorari, and such petition remains pending. That petition raises, among other bases for reversal, the same Section 546(e) safe harbor interpretation at issue in Merit Mgmt., as well as the state-law preemption ruling of the Second Circuit. 3 • Details of Settlement 1. Eligibility: You are eligible to participate in the settlement if you received more than $50,000 and less than $1,000,000 in aggregate Shareholder Payments in Step One and Step Two of the Tribune LBO, and are not named in any count of the Fifth Amended Complaint in the FitzSimons Action other than Count 1. 2. Settlement Terms: All Plaintiffs will settle all claims asserted against you in the Shareholder Actions in return for payment of a total of 16% of the amount of Shareholder Payments you received in Step One of the Tribune LBO (if any),plus 36% of the amount of Shareholder Payments you received in Step Two of the Tribune LBO (if any). This includes all claims to recover all Shareholder Payments, and all claims for prejudgment interest, fees and costs. In return for payment of this amount, you will be dismissed with prejudice from the above litigations and will receive full releases of all claims related to your Shareholder Payments by the Trustee Plaintiff, the Noteholder Plaintiffs, and the Retiree Plaintiffs. For example, if you received a total of$170,000 in Shareholder Payments between Step One and Step Two (split evenly), in order to accept this Settlement and be dismissed you would need to make a payment of$44,200 (16%x$85,000+36%x$85,000). Should you elect not to settle, Plaintiffs will continue to prosecute the Shareholder Actions against you to the fullest extent of the law, including through the proposed amendment and any pending or future appeals and will seek judgment against you for the full amount of Shareholder Payments you received at Step One and Step Two, plus prejudgment interest(which would continue to accrue), costs and fees from the date of each payment through the date of judgment. 1 Deadline: This offer expires on October 30,2017, one week prior to oral argument in the Merit Mpg. Supreme Court appeal, which is scheduled to take place on November 6, 2017. See Supreme Court Docket No. 16-784, available at https://www.supremecourt.gov. 4. To accept the settlement offer: Please contact Plaintiffs' settlement administrator, Kurtzman Carson Consultants, at(866) 927-7079 and we will send you a form settlement agreement for execution. When you call, please have available records or other information as to the exact amount of Shareholder Payments you received at both steps of the LBO. If you reach a voicemail, please leave your contact information, and someone will contact you promptly. The form settlement agreement can also be obtained on the Litigation Trust's website: www.tribunetrustlitigation.com. Akin Gump Strauss Hauer& Feld LLP Friedman Kaplan Seiler&Adelman LLP Counsel for the Litigation Trustee and the Plaints in the Noteholder Cases 4 Questions and Answers How do I know if I or my client is eligible to participate in the settlement? You are eligible to participate in the settlement if you received more than $50,000 and less than $1,000,000 in total Shareholder Payments in Step One and Step Two combined. Eligibility is based on the Shareholder Payments received, not on the profit made on the sale of the Tribune shares compared to what the shares were purchased for. Can I or my client participate in the settlement ifI or my client received a Shareholder Payment in Step One or in Step Two, but not in both steps? Yes, you may participate so long as the total amount you received in Step One and/or Step Two is more than$50,000 and less than$1,000,000. You will have to represent in the actual Settlement Agreement the actual amount of Shareholder Payments you received. How much is the settlement amount? The settlement amount is 16% of the Shareholder Payments you received in Step One, plus 36% of the Shareholder Payments you received in Step Two. How does this settlement offer compare to Plaintiff's prior settlement offer? This settlement offer is significantly more favorable to defendants than was Plaintiffs'prior global settlement offer, which was not limited by Shareholder Payment size, and is similar to the prior offer made exclusively to defendants that received between $50,000 and $100,000 in Shareholder Payments. To date more than 200 defendants have accepted the Plaintiffs'prior offers and have been released. Are the terms of the settlement offer negotiable? No. The terms of the settlement offer, as specified in the settlement agreement and summarized in this notice, are not negotiable What else do I need to do to accept and enter the settlement? You may contact Plaintiffs' settlement administrator, Kurtzman Carson Consultants ("KCC"), at (866) 927-7079 if you wish to accept the settlement offer or for any other questions you have. You will be sent an actual written settlement agreement containing the terms of the settlement, such as the amount of the necessary payment, mutual releases, and provisions requiring Plaintiffs to dismiss the litigations against you. The settlement will not be effective until all parties have signed and you have made the required settlement payment. How are Shareholder Payments made jointly to two or more defendants, or for the benefit of two or more persons,going to be treated? Eligibility to participate in this settlement is based on the Shareholder Payments received,not on the number of defendants or persons that may have jointly received or otherwise shared in such 5 Shareholder Payments. For example, a husband and wife who owned a joint securities account, or a trust with three siblings as beneficiaries,that received Shareholder Payments totaling $1,500,000, would not be eligible to participate in the Settlement by dividing the total Shareholder Payments into"per person"amounts. Likewise, the settlement payment amounts are based on the Shareholder Payments received, not the number of defendants. A husband and wife that jointly received $150,000 in total Shareholder Payments would only need to make one settlement payment between them, not one payment each. How long will the settlement offer remain open? You must accept the settlement offer and make the required settlement payment on or before October 30, 2017, one week before the oral argument occurs in Merit Mgmt. before the Supreme Court in order to participate. The dollar amount mentioned in the summons I or my client received included only some of the LBO payments I or my client received. Do I need to take the other payments into consideration in connection with the settlement? Yes. You will need to disclose, and calculate the settlement amount on, all the Shareholder Payments you received in connection with Step One and Step Two of the LBO, whether or not they are mentioned in the summons or Fifth Amended Complaint. If the total amount of the actual payments is $1,000,000 or more, you are not eligible to participate in this offer. The dollar amount mentioned in the summons I or my client received is incorrect, or stated simply as "$50,000." How does this affect the settlement offer? If the number in the summons is incorrect, you will be given an opportunity to submit information showing the correct amount, and the settlement amount will be calculated on the actual amount of Shareholder Payments (assuming it is more than$50,000 and less than $1,000,000). If the number is stated simply as $50,000, you will need to submit information showing the actual amount(assuming it is more than $50,000 and less than $1,000,000)to participate in the settlement. What happens if I or my client does not agree to participate in the settlement? You will remain a defendant in the litigations in which you are named unless and until those actions are finally resolved, subject to whatever defenses and responses you may have. If one or more of the Plaintiffs is ultimately successful,they will seek judgment against you for the full amount of all Shareholder Payments at Step One and Step Two made to you,plus prejudgment interest running from the date of each payment and through the date of judgment. If Ido not have an attorney,should I hire one? You do not need an attorney to accept this offer. However, Plaintiffs encourage all defendants to consult with an attorney about this lawsuit and settlement offer. You can seek further information about obtaining possible legal representation at www.tribune-defendants.com. 6 Notice to Tribune Retiree Claimants Pursuant to the Fourth Amended Joint Plan of Reorganization for Tribune Company and Its Subsidiaries Proposed by the Debtors, the Official Committee of Unsecured Creditors, Oaktree • Capital Management, L.P.,Angelo, Gordon & Co., L.P., and JPMorgan Chase BankN.A. (the "Plan"), certain Tribune Retiree Claimants or other Holders of Claims arising from Non- Qualified Former Employee Benefit Plans (as such terms are defined in the PIan) are treated as Released Parties (Plan §§ 1.1.186 and 1.1.187) and have received partial or complete releases of claims asserted by the Litigation Trust. If you are the beneficiary of such a release,this settlement offer may not pertain to you. It is recommended that you ask counsel whether this settlement offer pertains to you. 1. Pursuant to §§ 11.2.1 and 11.2.2 of the Plan, the Litigation Trust has released the first $100,000 of claims which have been or could have been asserted by the Litigation Trust against Retirees treated as Released Parties. Such Retirees: • Asserted claims against Tribune based upon unpaid benefits under one or more of Tribune's Non-Qualified Former Employee Benefit Plans referred to as the Deferred Compensation Plan,the Excess Pension Plan,the Supplemental Executive Retirement Plan, and the Supplemental 401(k) Plan, as well as various individualized retirement agreements; and • Elected treatment under Plan §§ 3.2.6(c) (i), (ii) (iii) or(iv) in Item 4C (or failed to make an election) on the supplemental election ballot circulated in connection with the Plan. To the extent that you elected treatment under Item 4C or failed to make an election, you would have received, among other things, a cash or other distribution in the amount of 32.73% of your allowed claim and a right to a pro rata distribution from the Litigation Trust on account of your Class 1F Litigation Trust Interest. 2. Pursuant to the Plan,the Litigation Trust has released all claims which have been or could have been asserted by the Litigation Trust against certain Retirees who: • Asserted claims against Tribune based upon unpaid benefits under one or more of Tribune's Non-Qualified Former Employee Benefit Plans referred to as the Deferred Compensation Plan,the Excess Pension Plan,the Supplemental Executive Retirement Plan, and the Supplemental 401(k) Plan, as well as various individualized retirement agreements; and • Elected treatment under Item 4A or 4B on the supplemental election ballot circulated in connection with the Plan. To the extent that you elected treatment under Item 4A or 4B, you would have received;among other things, a cash or other distribution in the amount of 35.18% of your allowed claim, but no right to a pro rata distribution from the Litigation Trust. 7 • Schedule A Case Number Caption 11-cv-04522-RJS Deutsche Bank Trust Company Americas v.Abu Dhabi Investment Authority 11-cv-04784-RJS Deutsche Bank Trust Company Americas v.Adaly Opportunity Fund 11-cv-04900-RJS Deutsche Bank Trust Company Americas v.Cantor Fitzgerald&Co, 11-cv-05136-RJS Deutsche Bank Trust Company Americas v. CIBC World Markets Corp. 1 1-cv-09319-RJS Deutsche Bank Trust Company Americas v.Blackrock Institutional Trust Company,N.A. 11-cv-09406-RJS Deutsche Bank Trust Company Americas v. Sumitomo Trust&Banking Co.(U.S.A.) l'I-cv-09407-RJS Deutsche Bank Trust Company Americas v. Merrill Lynch Trust Company l I-cv-09408-RJS Deutsche Bank Trust Company Americas v, Eaton Vance Multi Cap Growth Portfolio 1 1-cv-09409-RJS Deutsche Bank Trust Company Americas v. Paniagua 11-cv-09410-RJS Deutsche Bank Trust Company Americas v.King I 1-cv-09510-RJS Deutsche Bank Trust Company Americas v.Anderson 1 1-cv-09511-RJS Deutsche Bank Trust Company Americas v.The Burroughs Wellcome Fund 11-cv-09512-RJS Deutsche Bank Trust Company Americas v.Aqua America-Gabelli Asset Mgt. 1 1-cv-09514-RJS Deutsche Bank Trust Company Americas v.Associated Bank Green Bay,NA 1 1-cv-09515-R.1S Deutsche Bank Trust Company Americas v, Mazur 11-cv-09568-RJS Deutsche Bank Trust Company Americas v.Employees Retirement Fund of the City of Dallas I 1-cv-09569-RJS Deutsche Bank Trust Company Americas v.Bank of America N.A./GW IM Trust Operations l l-cv-09570-RJS Deutsche Bank Trust Company Americas v. Long 11-cv-09571-RJS Deutsche Bank Trust Company Americas v.Ader I 1-cv-09572-RJS Deutsche Bank Trust Company Americas v. First Republic Bank 11-cv-09581-RJS Deutsche Bank Trust Company Americas v. Robert Dishon Family Trust 11-cv-09582-RJS Deutsche Bank Trust Company Americas v. 1st Source Bank 1 1-cv-09583-RJS Deutsche Bank Trust Company Americas v.Sirius International Insurance Corporation 11-cv-09584-RJS Deutsche Bank Trust Company Americas v.Aetna, Inc. 1 1-cv-09585-RJS Deutsche Bank Trust Company Americas v.Wells Fargo Bank,N.A 1 l-cv-09586-RJS Deutsche Bank Trust Company Americas v. Sowood Alpha Fund LP 11-cv-09587-RJS Deutsche Bank Trust Company Americas v. RBS Securities Inc. 1 I-cv-09588-RJS Deutsche Bank Trust Company Americas v.Automotive Machinists Pension Trust Fund l 1-cv-09589-RJS Deutsche Bank Trust Company Americas v.Huntington National Bank 1 1-cv-09590-RJS Deutsche Bank Trust Company Americas v.Ameriprisc Trust Co. I 1-cv-09591-RJS Deutsche Bank Trust Company Americas v.Goodrich Corp MAS TR QUAL EMPL BEN I 1-cv-09592-RJS Deutsche Bank Trust Company Americas v.American Electric Power 1 1-cv-09593-RJS Deutsche Bank Trust Company Americas v.AG Edwards&Sons 11-cv-09594-RJS Deutsche Bank Trust Company Americas v.Verizon Investment Management Corporation I 1-cv-09595-RJS Deutsche Bank Trust Company Americas v.Alliance Capital Mgmt LLC 1 I-cv-09596-RJS Deutsche Bank Trust Company Americas v.Wells Fargo Investments,LLC 1 1-cv-09597-RJS Deutsche Bank Trust Company Americas v.ING Trust Equity Inc. Port I 1-cv-09598-RJS Deutsche Bank Trust Company Americas v. Ametek Inc Employees Master Retirement Trust 1 I-cv-09599-RJS Deutsche Bank Trust Company Americas v.Pandora Select Partners LP I 1-cv-09600-RJS Deutsche Bank Trust Company Americas v.U.S.Bank,N.A. 12-cv-00061-RJS Deutsche Bank Trust Company Americas v.Waterman,Broadcasting Corporation 12-cv-00062-RJS Deutsche Bank Trust Company Americas v.National Electrical Benefit Fund 12-cv-00063-RJS Deutsche Bank Trust Company Americas v.McGurn 12-cv-00064-RJS Deutsche Bank Trust Company Americas v.Ohlson Enterprises 12-cv-00065-RJS Deutsche Bank Trust Company Americas v. 1994 Alicia P. Guggenheim 12-cv-00549-RJS Deutsche Bank Trust Company Americas v.Fushimi 12-cv-00550-RJS Deutsche Bank Trust Company Americas v.Oppenheimer Main Street Select Fund 12-cv-00552-RJS Deutsche Bank Trust Company Americas v.AlG Life Insurance Company 8 Schedule B Case Number Caption 11-cv-04538-RJS William A.Niese v. Alliance Bernstein L.P. 12-cv-00551-RJS William A.Niese v.A.G.Edwards Inc. 12-cv-00554-RJS William A.Niese v. Chandler Trust No. 1 12-cv-00555-RJS William A.Niese v.ABN AMR()Clearing Chicago LLC 9 R S Retirement [:954.5271616F:n54526.0O83 / w"w.goconsv|6n&com Consulting October 31, 2017 Ms. Kerry Dutton The Resource Center, LLC 4360 Northlake Blvd. Suite 206 Palm Beach Gardens, FL 33410 Re: City of Boynton Beach Pension Plan for General Employees State Portal Electronic Reporting Requirement Dear Kerry: The Florida Division of Retirement (Division), Bureau of Local Retirement Systems issued a Memorandum dated August 15, 2017 which says that for all actuarial valuations dated on or after September 30, 2017, all annual actuarial reporting must be submitted via a new online reporting portal for all Florida municipal pension plans subject to the reporting and disclosure requirements of Chapters 175 and 185, and Part VII of Chapter 112, Florida Statutes. In our conversations with the Division,we have been informed that this information is to be prepared and uploaded by the Plan's actuary. They understand this new reporting will result in startup and on-going fees to be paid by Pension Boards. Additional Disclosure Requirements This new reporting is intended to capture all of the actuarial information as well as the financial information and key census data summaries which are required to be included in the actuarial valuation report, plus some additional calculations/information the Division now requires. Consequently, compliance requires creating a comprehensive electronic file containing 137 fields of required information in the format stipulated by the Division. The electronic reporting replaces the current requirement to send a copy of the actuarial valuation report to the Division after it has been approved by the Ioard. Fees Our startup fee to prepare and file the information summarized above will be$1,250. Our ongoing fee in subsequent years will be$500. If you should have any questions concerning the above, please do not hesitate to contact us. Sincerely, a iv' - d� Peter N.Strong, FSA Senior Consultant and Actuary A ••. WS'f,"7 LASER :•N AtfatIO ttfgege? .:4`. •;-,"‘ -,, ,•-z2x,4 4aVii,N$OW aviMfiA ; Writer's Email: bob@robertdklausnercom October 24, 2017 Dear Clients: In the aftermath of Hurricanes Harvey, Irma and Maria millions in our country have been dramatically impacted with loss of homes and jobs.• Many of the trustees of our client pension funds have been deployed to storm relief zones to assist in the recovery effort. There is far more need than there are resources to assist those who have suffered. and will be affected for years to come. Right here in our home, the longtime venue for our client conference, the Hyatt Pier 66, suffered significant storm damage. As a result,. we have concluded that it would be best to cancel our annual educational conference for 2018 and to donate what would have been spent to hurricane relief charities, particularly those affecting our clients in the storm affected states and territories, In the coming weeks we will outline that giving program. This does not mean, however, that we are abandoning our commitment to client education. We are planning a series of virtual education programs for 2018 that will provide the same breadth of education we have been presenting for the last 18 years. As these programs take shape we will provide notification on how to attend. As always, attendance is at no cost and presented only for our clients. We encourage all of our friends to do whatever possible to help our fellow Americans in this time of need. To those who have suffered from these devastating storms and are working to restore what was lost, we say you are not alone. We hope to reinstate the actual conference in 2019. In the meantime, we will look forward to your attendance at our virtual education forums. "rely, PA ROBERT D. 'W SNER 7080 NORTHWEST 4TH STREET, PLANTATION, FLORIDA 33317 PHONE: (954) 916-1202 • FAX: (954) 916-1232 www.robertdklausner.com _.', -,:',..1 •A`,51:a4i,,,,,,,,....4,,,;:ii 'lai,t„,-,.. ,4:::::24,;-,'''-,4,•','',-•,`;','•':"-'•-',"'' 4ai,,,,.;',- -Y.W.,..-=‘,:aVilii,,,i :12,'1:0:; ;E::',2, L.•.::..,,.,,,,,-,: :',i•., 14,,,,z4,.,:a,,, -,:`,,,... 41:.;,:L't,,,.,,,..,...-:,,i, V:1 ii Community Calendar tr-1,Upcoming M.- Past M Month VieW ;.;',J RSS r:: i !I Here,you can find out about upcoming events and view photo galleries of past events.Some events may [i allowfor online registration and the ticket purchase.Cl ick the event name to view more details. t:Elfj;'4-111tgttkdlt:§l,,L4t**t._144&,ltr':'nk4tt'"S*',,,..,,.'tXr;.,:4tkF't;"efilit.'*:;:"4Z-01;W..-Ati ':...,i- '' •.!:' ', [:! :1 -'•.;:., 1**44,.At4ce419,5,42k:Ilow.g.T."A-wAN. 44,k.:-7.0.7.1 ,,,Attl1.4,*ti.4rw,iittAht4i:te,Prg1,--wIt&v..vveotWATAINIatt=*.,.-i ., Sunday Jammu 28.2018 ,-, , Winter School Registration 1,- 1/28/2018 x, 131/2018 Location:Orlando Florida :1 idi Export to'Your Ca,..e.ndar D Register ,‘,5, Members Only Monday,January 29, 2018 f , Understanding Your Fixed Income Allocation 1/29/2018 1 ":ii Location:OriandO.Florida . [1 fr:3 ExporftoYour Calendar la Register 8,.Members Only Individual Retirement Program Registration . 3 A .1/29/201812 1/30/2018 lLocation:Orlando Florida ' 61 ExporttoYour Calendar p,- Register 11 Mei-nbers Only ,•:,,, Tuesday January 30, 2078 r.,f ,,:a Leadership Boot Camp Registration ... 1/30/2018 . Location:Orlando;Florida Tim'e:6'.'.5 0 AM C`i z7, Export to Your Calendar D Register 8 Members Only - 44• 1 Tuesday, Mara 2Z 2018 CPPT Wall Street Program Payment '4 3/27/2018 a 3/31/2018 : -.1 .:q Exprt-toYpur Calendar D Register , r i;-,.; -.1 Displaying page 1 of 1 HA '1,•:;:i :1 • 1!•-,: „f a [:-1 : '--,..,,,,,,:-,-•-nwrz,-.01::,.mt7r,;a,.,,77-717,7v,--er.,--,,,,,:;.,,,,,.,_•,-.,,,.,‘, 777,177.77t-•,, Tr7 ,-,-",•,19•77 - ,- .7t.z.,,'; ' ;,,.!Trfr'';"-•r•M-Tfr'zTr--,,,T' f,',-T!:::''''',,t'r,r!:,:7':'r,77:7"''"':'"'":':'-'7::: „ : , - ” : - „ •. • THE RESOURCE CENTERS, LLC 4360 Northlake Boulevard, Suite 206 ❖ Palm Beach Gardens, FL 33410 _..._. ... ..._......._.__ . Phone (561) 624-3277 ❖ Fax (561) 624-3278 ❖ WWW.RESOURCECENTERS.COM Boynton Beach General Employees Pension Fund Pension Board Meetings: 2017 ❖ Monday, Feb 26 at 1:30 p.m.—4th Monday of the Month o Audit presentation o Act. Valuation presentation o Fiduciary Liability Renewal Quotes ❖ Monday, May 18th at 1:30 p.m.— 3Td Friday of the Month (4th Monday is Memorial Day) ❖ Monday, Aug 27 at 1:30 p.m.—4th Monday of the Month ❖ Monday, Nov 26 at 1:30 p.m.—4th Monday of the Month Board or Jeff will let us know if a manager is schedule to attend a meeting. City of Boynton has standing meetings of all Department Heads each Monday morning at 9:00 a.m. Avoid this time slot for future meetings PENSION RESOURCE CENTER 4360 Northlake Blvd., Suite 206 Palm Beach Gardens, FL 33410 CHECK SIGNING REGISTER CITY OF BOYNTON BEACH BOARD OF TRUSTEES GENERAL EMPLOYEES PENSION FUND WARRANT FOR NOVEMBER 27, 2017 Check # Date Payee and Description Amount 2418 September 1, 2017 City of Boynton Beach $20,221.09 2419 September 1, 2017 Pension Resource Center $5,108.48 Administrative Fee - Sept 2017 2420 September 1, 2017 Pension Resource Center $22,275.00 Service Agreement Fee - Nov 2014- August 2017 2421 September 1, 2017 FPPTA $500.00 Registration Event McDeavitt Oct 2017 2422 September 6, 2017 Klausner, Kaufman, Jensen & Levinson $941.75 Legal Services Rendered through 8/30/17 2423 September 6, 2017 Wells Fargo Bank, N.A. $4,292.60 Custodial Fee - 6 Accounts 7/1/17-7/31/17 2424 October 1, 2017 City of Boynton Beach $19,068.40 2425 September 29, 2017 Cathleen McDeavitt $320.52 10/8-11/17 Reimbursement 2426 September 29, 2017 Tampa Marriott Waterside Hotel & Marina $537.00 10/9-11/17 McDeavitt Registration 2427 October 5, 2017 Pension Resource Center $6,208.48 Administrative Fee - Oct 2017 2428 October 5, 2017 Klausner, Kaufman, Jensen & Levinson $114.00 Legal Services Rendered through 9/30/17 2429 October 5, 2017 SouthEastern Advisory Services, Inc $20,241.00 3rd Quarter 2017 2430 October 5, 2017 Mutual of America Capital Management $2,666.55 2nd Qtr 2017 2431 October 9, 2017 DePrince Race & Zollo $25,813.00 3rd Qtr 2017 2432 October 9, 2017 Wells Fargo Bank, N.A. $4,276.67 Custodial Fee - 6 Accounts 8/1/17-8/31/17 2433 November 1, 2017 City of Boynton Beach $19,120.55 2434 November 1, 2017 Pension Resource Center $5,350.61 Administrative Fee - Nov 2017 2435 November 1, 2017 Alliance Bernstein $19,054.74 Investment Management Fee - 4th Quarter 2017 2436 November 1, 2017 Clearbridge Investments $31,329.22 Investment Management Fee - 3rd Qtr 2017 2437 November 1, 2017 Garcia Hamilton & Assoc $13,228.94 Management Fee - 4th Quarter 2017 2438 November 8, 2017 Cathleen McDeavitt $32.20 10/8-11/17 Reimbursement 2439 November 8, 2017 Klausner, Kaufman, Jensen & Levinson $798.00 Legal Services Rendered through 10/31/17 2440 November 8, 2017 Wells Fargo Bank, N.A. $4,349.95 Custodial Fee - 6 Accounts 9/1/17-9/30/17 2441 November 9, 2017 Mutual of America Capital Management $2,565.19 1st Qtr 2017 TOTAL $228,413.94 Paid by Custodian JP Morgan Investment Management $31,848.80 2nd Quarter 2017 Special Situation Property Fund TOTAL $260,262.74 Chairman Date ' BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002418 VENDOR: 000000000401 09/17 000000000401 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 005835 09/01/17 11, 363 . 65 11, 363 . 65 . 00 11, 363 . 65 005836 39/01/17 2, 598 . 42 2, 598 . 42 _ 00 2, 598 . 42 tr.'-- 5837 39/01/17 3, 263 . 05 3, 263 . 05 . 00 3, 263 . 05 ' X5838 39/01/17 2, 633 . 07 2, 633 . 07 . 00 2, 633 . 07 005839 39/01/17 203 . 00 203 . 00 . 00 203 . 00 005840 39/01/17 159 . 90 159 . 90 . 00 159 . 90 Check Total 20, 221 . 09 • 47M:14.'0":". AMMAN'S, r11;11•ley (;Wt:ilai,:fok:: li r i I 7 ii ::1'17 s.,_;�_ " .� ti��,�✓j"' tai"`, .('a�:i'{°i .,l,5_,_}'�;' (:t: , :1,rini 3irrrI".54-?`�-"4LSI t BOYNTON BEACH GENERAL EMPLOYEES'PE1SIO1 CENTERSTATE BANK (J D2 4360.NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH GARDENS;FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. - CHECK DATE VENDOR NO. 2418 09/01/17 . 000000000401 PAY. ' • AMOUNT TWENTY THOUSAND TWO HUNDRED TWENTY—ONE AND 09/100 DOLLARS $20, 221 . 09 • . AUTHORaws, URE -10-THE CITY OF BOYNTON BEACH ORDER ATTN: PATRICIA. SHOLOS 1`�"r` Y/ /------- OF AUTHORIZED SIGNATUR 6� 100 E BOYNTON BEACH .BLVD BOYNTON BEACH FL 33425 . • • VOID AFTER 180 DAYS _ _ .. . _,gpRC£:i CONTAINS IlICRO'RItITI• 11.0000 24 1811° 1:06 701 289 Si:806 a0 29 20611' BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002418 VENDOR: DATE CHECK NO. 000000000401 09/17 000000000401 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 005835 09/01/17 11, 363 . 65 11, 363 . 65 _ 00 11, 363 . 65 ' 005836 09/01/17 2, 598 . 42 2, 598 . 42 _ 00 2, 598 . 42 005837 09/01/17 3, 263 . 05 3, 263 . 05 . 00 3, 263 . 05 005838 09/01/17 2, 633 . 07 2, 633 . 07 . 00 2, 633. 07 005839 09/01/17 203 . 00 203 . 00 . 00 203 . 00 005840 09/01/17 159 . 90 159 . 90 _ 00 159 . 90 C`ieck Total 20, 221 _ 09 BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 000024/9 000000000001 09/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT f #15708 SEPT2017 39/01/17 5, 108 . 48 5, 108 . 48 . 00 5, 108 . 48 Check Total 5, 108 . 48 • . IEFACE OEThI CIMIEMASOOLOR ACX OiUH UtEMIRE p1P ':' BAVECONTNH AN ARTIFIEIAI WAT MAR OWA1FAliAlklG+tO •• ' ��' •• t ' •' CENTERSTATE BANK l 4360:NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH,.GARDENS;.FL 33410 Palm Beach Gardens FL 33410 80D-206-0116 63-1289/670 • - . CHECK NO. CHECK DATE VENDOR NO. 2419 09/01/17 000000000001 PAY . AMOUNT FIVE THOUSAND ONE HUNDRED EIGHT AND 48/100 DOLLARS $5, 108 . 48 )476--14- rRE AUTHORREO SI TO THE PENSION RESOURCE CENTER ORDER. 4360 NORTHLAKE. BLVD OF SUITE 206 AUTHORIZEDSIGNATU, /Y PALM- BEACH GARDENS FL 33410 VOID AFTER 180 DAYS BORDER CONTAINS MICROPRINTII 11°000021. Fl 1.06702, 21,3951:806 10 24 2061!° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002419 VENDOR: DATE CHECK NO. 000000000001 09/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT #15708 SEPT2017 09/01/17 5, 108 . 48 5, 108 . 48 . 00 5, 108 . 48 C:-leck Total 5, 108 . 48 / Resource Centers, LLC Inv()~ce 4360 North)ake Blvd_ Suite 206 Palm Beach Gardens, FL 33410 Date Invoice # 8/31/2017 15708 Bill To Tax ID • Boynton Beach General Pension Fund Pension Resource Center ]6'4504I8] ResvurccCenters 87'0800468 Description Qty Rate Amount Boynton Beach General Employees Pension Monthly Administrator 4'925.00 *,925.00 C /{� Fee for September 2017 (�� Postage 372 0.49 182.38 ~ r /�r.; International Postage 1.20 I20 • • | Total Amount Due $5408.48� Mail Payments to: .. Resource Centers, LLC at Palm Beach Gardens address above or ACH Payment to: CenterState Bank Pension Resource Center ABA #: 06]1140]0 Account #: 20414819 If you have any questions concerning this in-Voice, please contact Bonnie Lindberg at Resource Centers, LLC Phone 561.4592959 or email bonnie@ResourceCenters.com BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002420 VENDOR: 000000000001 09/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID I DISC. TAKEN NET AMOUNT rl #15700 SEPT2017 09/01/17 22, 275 . 00 22, 275 . 00 . 00 22, 275 . 00 Check Total 22,275 . 00 • • ; �° �''� CIR MIQR Di *. �UN. jiff: , •' 1 ; H •t' 0161114,5111 , � MAW,AW, I lam,. .A[ mG =a I ' CENTERSTATE BANK II 12420 4360 NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH GARDENS,FL 33410 Palin Beach Gardens.FL 33410 800-206-0116 • 63-1289/670 • • CHECK NO. CHECK DATE VENDOR NO. 2420 09/01/17 000000000001 PAY AMOUNT TWENTY-TWO THOUSAND TWO HUNDRED SEVENTY-FIVE AND 00/100 $22, 275 . 00 DOLLARS + • • i AUTHORIZED Si ,• RE TO THE PENSION RESOURCE CENTER - ORDER. 4360. NORTHLAKE BLVD. i ' 4UTMOR12ED SIGNATOR r OF • SUITE 206 • IJ//J • PALM BEACH GARDENS FL 33410 ` VOID AFTER 180 DAYS BORDER COt:TFINs MICROPRIN?I 00000 24 200 ';OE 2O 2,B S':6OE 30 29 2060 • BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002420 VENDOR: DATE CHECK 000000000001 09/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT #15700 SEPT2017 09/01/17 22, 275 . 00 22, 275 . 00 . 00 22, 275 . 00 C.-ieck Total 22, 275 . 00 1 • • (5-(_ / Resource Centers, LLC Invoke ke 4360Nurtb|akeBh/d, Suite 206 Pa'm Beach Gardens, FL 33410 Date Invoice # 8/1I/2017 I5700 • Bill To TaxI[} Boynton Beach Genera! Pension Fund • Pension Resource Center 36-4504183 Resource Centers 87'0800468 • • Description • Qty Rate Amount Boynton Beach General Employees' Pension Monthly Administrator 10 675.00 • 6,750.00 Fee for December 2014 through September 2015 At the November 24, 2014 Meeting the Board approved the Administrator Services Agreement with a monthly fee of $4,925.00 - On Invoice Numbers 13546, 13603, 13563, I3722' 13785, 13794, 13837, 13898, 14021 and 14082 the monthly fee billed was $4,250.00 Boynton Beach General Employees' Pension Monthly Administrator 12 675.00 8,I00.00 Fee for October 2015 through September 2016 At the November 24, 2014 Meeting the Board approved the Administrator Services Agreement with a monthly fee of $4,925.00 - On Invoice Numbers 14147, 14227, 14293, 14356, 14418, 14485, 14553, 14617, 14690, 14763, 14829 and 14898 the monthly fee billed was $4,250.00 Boynton Beach General Employees' Pension Monthly Administrator 11 675.00 7,425.00 Fee for October 2016 through August 2017 At the November 24, 2014 Meeting the Board approved the Administrator Services Agreement with a monthly fee of $4,925.00 - On Invoice Numbers 14966, 15035, 15100, 15166, 15235, I5300, 15367, I5432, I5500, 15572 and 15638 the monthly fee billed was $4,250.00 \ T��tal ��Qur|t �]��«y 522,275.00 ` �� Mail Payments to: \�Y Resource Centers, LLC at Palm Beach Gardens address above or ACH Payment to: CenterState Bank Pension Resource Center ABA #: 053114030 Account #: 20414819 If you have any questions concerning this invoice, please contact Bonnie Lindberg at Resource Centers, LLC Phone 561.459.2959 or email honnie©KesourceCcoterszum BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002421 VENDOR: DATE CHECK NO. 000000000028 09/17 000000000028 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 200000085 MCDEA 09/01/17 500 . 00 500 . 00 _ 00 500 . 00 Check Total 500 . 00 s? t 'F flF fli1S DNCUMENfl{AS i 't' !k 'ACKGANUN INi"WHIITEP1 P BA T# 'COMM. t t •'1•T EICIA •i4-4 H OA 1 0.1 `a 11 4, i }j• ' • ' :� _'� I• �' •' _ •' CENTERSTATE BANK III I .:4360 NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH GARDENS,FL 33410 Palm Beach Gardens,FL 33410 •800-206-0116 ' 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2421 09/01/17 000000000028 PAY . AMOUNT FIVE HUNDRED AND 00/100 DOLLARS $500 . 00 AUTTIORIZES SI n RE TO THE FPPTA_ � ORDER•, 2946 WELLINGTON CIRCLE EAST 1 AUTHOR ZEDSIGNq UR �/ - j OF TALLAHASSEE FL 32309 VOID AFTER 180 DAYS 9OFOER CONTAINS MICROPRIMI il°0000 24 2111" X00670 3 2,89S'a80630 2'3 20611° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002421 VENDOR: DATE CHECK NO. 000000000028 09/17 000000000028 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 2.00000085 MCDEA 09/01/17 500 . 00 500 . 00 _ 00 500 - 00 C:zeck Total 500 . 00 V 0 Florida Public Pension Trustees invoice Association , • . Date 1 Invoice# 1 8/28/2017 1 200000085 Bill To ' 1 Ship To 1 , ! Cathleen McDeavift I Cathleen McDeavitt I Boynton Beach GE Pension Fund ! Boynton Beach GE Pension Fund do The Pension Resource Center L CIO The Pension Resource Center ! 4360 Northlake Boulevard, Suite 206 4360 Northlake Boulevard, Suite 206 Palm Beach Gardens, FL 33410 ! Paim Beach Gardens, FL 33410 United States I United States ! PO Number ' Terms 1 Due Date . ! , Due 1 , on ! 8/28/2017 ! , receipt I . : Qtyi . Description I Price Totals 1 I Trustee/Administrator attending Fall Trustee ! $50[L00 $50a00 School Event- Registraldon-C,athieen INIcDeavitt , ! - Suh-Tota $500.00 • Total $500.00 i ‘ i \ Balance Due $500.00 , • • Please Terra payment to H-PTA 294€Wellington Circle East Tallahassee, FL 32309 77/If 2 17 •. - 00 ____,s2s_.„--2,,,„,2_,....t Iti BOYNTON BEACH GENERAL EMPLOYEES'PENSION000002422 22 VENDOR: DATE CHECK NO. 000000000047 09/17 000000000047 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT '` #20458 AUG2017 09/06/17 941 . 75 941 . 75 _ 00 941 . 75 Check Total 941 . 75 -4=: P/[ QE THlS.1 ttIMENVIR!F'LORE1 r•MINIM W1111SPAPE IMESAC A 'ONTAINSAWARTIEICIAL-11 MERMAR `1110EIMME iN6 '( '1 : ! -•.' '' = ' - _' '1' - •s = - ' '' CENTERSTATEBANK is 112, . 4360 NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH,GARDENS;,FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2422 09/06/17 000000000047 PAY- AMOUNT NINE HUNDRED FORTY-ONE AND 75/100 DOLLARS $941 . 75 _ , L . s_ . .. AZ AITTHOR2ED 51 -URE /TO THE KLAUSNER, KAUFMAN, JENSEN & LEVINSON ' ORDER 7080 . NORTHWEST 4TH STREET 41=�w"Y - OF' S AUTHDRIZED SIGNATUS Fr, PLANTATION FL 33317 ' VOID AFTER 180 DAYS L_ __ 50ROER CONTPINS MICRORRINTIt. 11°0000 211 2 211* 8006701 2958080630 29 206!!' BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002422 VENDOR: DATE CHECK NO. 000000000047 09/17 000000000047 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT • #20458 AUG2017 9/06/17 941 . 75 941 . 75 _ 00 941 . 75 C:zeck Total 941 . 75 . /'L kr., ( \`i} ' . ' k -\ ~ " � / , Klausner, Kaufman, Jensen "&^ Levinson . A Partnership ofy,pfes,ionu| Associations Attorneys At Law 7O8UN.9/.4th Street / P|ootadoo;Florida]33�� , . ' Tel.(954)916-1202 ' . www.robertdklausner.com Fax(954)9l6'/2]2 . Tax l[\:45408363O . | / / | / BOYNTON BEACH GENERAL EMPLOYEES � August 30, 2017 Attn: KERRY DUTTON � BU/ #2O458 / 4360 NORTH LAKE BOULEVARD - SUITE 20 . PALM BEACH GARDENS, FL 33410 . � I � For Legal Services Rendered Through 0O/30N7 i CLIENT: BOYNTON BEACH GENERAL EMPLOYEES :BBGE MATTER: BOYNTON BEACH GENERAL EMPLOYEES' PENSION BOARD : 150045 Professional Fees Date Attorney Description. � Hours Amount 08/20/17 BSJ REVIEW EMAII BAUR 0.50 142.50 WITH AI !ACHED MARITL SE1 |LEK4ENTAGREEMENT AND REGARDING clERTIFIED 'COPY 08/22/17 BSJ TELEPHONE dALL WITH iDAVE 0.10 28.50 WILLIAMS R EGARDING BOB DORN 08/23/17 BSJ TELEPHONE020 57.00 LITIGATION i 08/23/17 BSJ REVIEW EMAIL FROM0.10 28.50 REGARDING SUGERMAN DIVORCE ORDER; TELE(TIONE CALL WITH SCOTT BAUR ; i 08/25/17 BSJ PREPARATION OF MEE0.30 85.50 MATERIALS FOR UPCOMING G. 08/28/17 BSJ REVIEW AGENDAAND BACK UP 0.50 142.50 08/26/17 BSJ REVIEW AND RESPOND |L 0.40 114.00 FROM KERRYDUTTON NG FILMING OF POSION MEETING; 08/28/17 BSJ ATTEND MEETING 1.00 285.00 . 08/28/17 BSJ TRAVEL TOA D FROM MEETING 2.00 0.00 1 | � . . . . Continuod . . . . i ' ' ! CUcn� E3OYNTON BEACH GENERAL EMPLOYEESAugust 30, 2017 Matter: 150045 - BOYNTON BEACH GENERAL EMPLOYEES' Page 2 Professional Fees Continued.... Date Attorney Description Hours Amount 08/30/17 BSJ EMAIL TO INVE, TMENT CDNSULTANT 0.10 28.50 REGARDING IMPACT OF HURRICANE HARVEY ONOLM INVESTMENT HOLDINGS ! Total for Services 5.20 $912.00 ' | • . . � . C/osts Date Description ' Amount PHOTOCOPIES thru 08/3017 29.75 Total Costs $2975 A' CURRENT BILL TOTAL AMOUNT DUE | � = 941.75 �f . -_~ • . • | | [ BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002423 VENDOR: 000000000080 09/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT 6ACCTS JULY2017 09/06/17 4, 292 . 60 4 , 292 . 60 . 00 4, 292 . 60 - Check Total 4 , 292 . 60 a'2 - y>� r'F��EAl E 0 fH1 iDQ IiMEkf H SIA O' �i 5$AEKGii0UN0 ON RS IEPE B �`N BACKTONTAINSTA ARTIEICIAMATERM `HOF ATANJINGC T, ' �•� • 7_ • . 1111 4360",NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH.GARDENS;FL 33410 Palm Beach Gardens FL 33410 8.00-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2423 09/06/17 000000000080 PAY•+. AMOUNT FOUR THOUSAND TWO HUNDRED NINETY-TWO AND 60/100 DOLLARS $4 , 292 . 60 AUTHORIZED SI RE TO THE WELLS FARGO BANK, , N:A. ' ORDER.. TRUST :'OPERATIONS NW 5159 • AUTHORIZED SIGNATUrr� •%�Y " qF PO BOX 1450 MINNEAPOLIS MN55485-5159 VOID AFTER 180 DAYS _- BORDER CONTAINS MICROPRIRTI 11'0000 24 2l 1.0670 da 2,Ei951:80E30 29 20611" BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002423 VENDOR: DATE CHECK NO. 000000000080 09/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT 6ACCTS JULY2017 09/06/17 4, 292 . 60 4, 292 . 60 . 00 4, 292 . 60 C:aeck Total ' 4, 292 . 60 - ��{��/ Fee Invoice: 11268558 AccountNumber: 4046002463 Wells Fargo 0 A � ~ ' ' • For Period: 07/01/2017- o7/31/2017 Invoice Date: 08/07/2017 000575 XNTFDV41 Return To: 8 nK� Mut n � WellsBank, N A Boynton/City/n �c� ~''7Fargo � Dixie Martinez Admin. "- « � ��' Trust Operations 4360 Northlake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 33410 P.O. Box 1450 Minneapolis, MN 55485'5159 , $946.38 PAYMENT DUE UPON RECEIPT Account Name: Boynton/City Mut Contact: Karl Hutchinson 0055938 Fold Here • � � Summary of Current Period Fees Charged Billed Total Administration $04638 $946.38 \ Total Current Period Fees $946.38 $848_38 \ Q.1.\?, co � � ^ � ` . � �� chi H,,,,64 PLEASE RETURN THIS PAGE WITH PAYMENT • . � Page 1 Fee Invoice1126855e 74! Account Number: 4046002463 Yk�/b7f��go ��anA, KL^4. ' For Period07/01/2017 07/31/2017 Invoice Date: 08/07/2017 Account Name: Boyo1oo/CkvMut Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 28.39/.368.83 g 0.0004 x 1/12 946.38 Total Administration $946.38 Total $946.38 Summary Total Charged to Account $0'00 Total Billed $946.38 Payment Due $946.38 � � � � �. •� ,'` ' / . ' -- — . ' ` --' o ^ W Fee Invoice: 112692e2 ' AccountNumber: 25e76101 W/�/�� Fb/gnBank, ! '^`^ ' m^ N.A. For Period: 07/01/2017 07/31/2017 ��/��4�* Invoice Date: n8/o�2u17 000578 XNTFDV41 Return To: Boynton Beach Clearbridge LG Cap Wells Fargo BankN.A. Dixie Martinez Admin. �� 7��7 Trust Operations *e » 4360 Nodh|ake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 33410 P.O. Box 1450 Minneapolis, MN 55485-5159 ' $83S54 - / � PAYMENT DUE UPON RECEIPT Account Name: Boynton Beach C�mbhdgeLGCap Contact: Karl Hutchinson 0055838 �m*"� � - Summary mfCunentPer�dFees Charged Billed Total @ Administration $836.54 $836.54 ' � ~ 4 Total CunantPehudFees $836.54 $836.54 ' � � � � � = r.5 PLEASE RETURN THIS PAGE WITH PAYMENT -*,.i? rage1 . Fee Invoice: 11269292 ^ Account Number: 25876101 ° Wells Fargo Bank, N.A. For Per07/01/2017-07/31/2017 kr IP' � � v� @ 6nwn��Da,o, 08/07/2017 Account Name: Boynton Beach Clearbridge LG Cap Contact: Karl Hutchinson 0055838 Services Value/Quantity Rate Frequency Amount Administration Market Value 25.096.31325 @ 0.0004 x 1/12 83654 Total Administration $836.54 Total $836.54 Summary Total Charged to Account $0]}0 Total Billed $836.54 Payment Due $836.54 r, . � � s Page 2 _ - - •- - Fee Invoice: 11268528 • r-(444.1gi '" Account Number: 4046000170 Wells Fargo Bank, N.A. For Period: 07/01/2017- 07/31/2017 Invoice Date: 08/07/2017 000574 XNTFDV41 Return To: ÷ Boynton/San Fx Wells Fargo Bank, N.A. Dixie Martinez Admin. Trust Operations 4360 Northlake Blvd Ste 206 NW 51 59 Palm Beach Gardens FL 33410 f.sc P.O. Box 1450 Minneapolis, MN 55485-5159 • $626.66 PAYMENT DUE UPON RECEIPT Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 Fold Hem • Summary of Current Period Fees Charged Billed Total Administration $626.66 $626.66 Total Current Period Fees $626.66 $626.66 er M"ED " PLEASE RETURN THIS PAGE WITH PAYMENT Page 1 Fee Invoice: 11268528 w r Account plumber: 4046000170 Wells Fargo Bank, N.A. For Period: 07/01/2017- 07/31/2017 Invoice Date: 08/07/2017 Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 Services Value I Quantity Rate Frequency Amount Administration Market Value 18,799,826.87 @ 0.0004 x 1/12 626.66 Total Administration $626.66 Total $626.66 Summary Total Charged to Account $0.00 �. Total Billed $626.66 Payment Due $626.66 (II 0 0 CO i) z z z z L Z Z Z O O O O O C) Z O O tJ Cn to Page 2 '' .~ .` _ _ _ _ _ _• • Fee Invoice: 11268527 • Account Number: +046000161 Wells Fargo f7ank ��A' For Period: 0'7/01/201707/31/2017'~*�u�� Invoice Date: 0e/07/2017 000573 xwTFDvw Return To: Boynton/DHJ FxdWells "=rg" Bank, � A D�i* |NarthnozAdm� Trust� � ` yr � ``? Operations .N.A. u1�' 4360 North|uke Blvd Ste 206 NW 5139 Palm Beach Gardens FL 33410 P.O. Box 1450 Minneapolis, MN 55485'5159 $638.24. PAYMENT DUE UPON RECEIPT Account Name: Boyoh»nDDHJFxd Contact: Karl Hutchinson 0055038 Fold H. — ' Summary of Current Period Fees Charged Billed Total Administration $638.24 $03824 ` Total Current Period Fees $63824 $638.24 • � (�� co z_ • �- PLEASE RETURN THIS PAGE WITH PAYMENT —�� .'� Fee Invoice: 11268527 AccountNumber: *046000161 Wells Fargo Bank, N.A. For 07/01/2017- 07/31/2017 Invoice Dale: 0807/2017 Account Name: Boyo1oo/DHJFxd Contact: Karl Hutchinson 0055038 Services Value/Quantity Rate Frequency Amount Administration Market Value 1e.147.272»6 @ 0.0004 x 1/12 838.24 Total Administration $638.24 Total $63824 Summary Total Charged to Account $0]}0 Total Billed $638.24 rp Payment Due $638.24 = = Page 2 ` ! ``` `~� ` ' � ' -' ^ . ' Fee Invoice: 11246526 ^ Account Number: 25639300 fl, VNa8sFargo Bank, N.A. For Per�u 07/01/2017 07/31/2017 � Invoice��/r� na/n7/2o�7 _____ � �__ 000450 mmFow1 Return To: Boynton/DRZ Wells Fargo Bank, N�A. �� Kerry DuUon. Admin Trust Operations�c�/ 4360 Nohh|akeBlvd STE2OS8 � ' ` NW 5159 Palm Beach Gardens FL 33410 ��P " ` ' ��' P.O. Box 1450 • Minneapolis, MN 55485'5159 , '=r I. $872.62 ': PAYMENT DUE UPON RECEIPT Account Name: Boynton/DRZ Contact: Karl Hutchinson 0055938 Fold Hole . . ' Summary of Current Period Fees Charged Billed Total Administration $872.62 $872.62 — Total Current Period Fees $872.82 $872.62 c, b)� ,, • � — � � K. ~ � _,,-_Tsriii,,,:„Ifqrrn „....„-.....,_5.p PLEASE RETURN THIS PAGE WITH PAYMENT . 6.31 . Page 1 ... . ^ '' ''-^' Fee invoice: 11246526 Account Number: 25639300 Wells Fargo Bank, N.A. For Period07/01&2017'07/31/2017 Invoice Da/e: 08/07/2017 Account Name: Bnynton/DRZ Contact: Karl Hutchinson 0055838 Services Value/Quantity Rate Frequency Amount Administration Market Value 25.991.238.84 @ 0.0004 x 1/12 866.37 Annual Account Maintenance 1.00 @ 75o0 x 1/12 6.25 Total Administration X872.62 Total $872,62 Summary Total Charged to Account $0.00 Total Billed $872.62 Payment Due $872.62 c,� a a 9 ��' Page 2 . � � � ` . =� ` - . • . ., Fee Invoice: 11246505 ' r, Account Number: 24102201 Wells Fargo Bank, NA. For Period07/01/2017' 07/3//2017 t.,'"- fr.„,' '.-~. ___ invoice Dale: 08/07/2017 000437 XNTFDV41 Return To: Boynton/S&P400 Wells BaokN.A. �'�� DixieMartinez,Administrator * r�� r, _ � / Trust Operations rlThe Resource Cen�o. LLC �_ , � .,� . NW 5159 4360 Northlake Blvd., Suite 206 P.O. Box 1450 Palm Beach Gardens FL 33410 Minneapolis, MN 55485'5159 ' � $372]8 . PAYMENT DUE UPON RECEIPT Account Name: Boynton0&P400 Contact: Karl Hutchinson 0055838 Feld,w° ' . - Summary of Current Period Fees Charged Billed Total A Administration $372.16 $37216 - VC—\ - Total Current Period Fees $37216 $372.18 ~ U Na0. � 1,— Z � 7, 2: 0 � C., � � _ . . SCAN1ED PLEASE RETURN THIS PAGE WITH PAYMENT Page 1 • >., Fee invoice: 11246505 Account Number: 24102201 1.1 C` Wells Fargo Bank, N.A.N For Period 07/01/2017-07/31/2017 Invoice Date: 08/07/2017 Account Name: Boynton/S&P400 Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 10,977,224.27 @ 0.0004 x 1/12 365.91 Annual Account Maintenance 1.00 @ 75.00 x 1/12 6.25 Total Administration $372.16 Total $372.16 Summary -71 Total Charged to Account $0.00 { Total Billed $372.16 Payment Due $372.16 N ` W O O d W z 0 0 0 0 0 c) 0 O Page 2 BOYNTON BEACH GENERAL EMPLOYEES'PENSION VENDOR: DATE 000000000636. 09/17 CHECKNO. INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT • 10/8-11/17 MCDE 09/29/17 320 . 52 320 . 52 , . 00 320 . 52 Check Total 320 . 52 ri- . .at i oacwie nmeagnic aun ottwHrt •ARM:, c � :UMW INrnr FICIMa 'MUM-At. G (VIEW •. ` •A = • - I' • •' CENTERSTATE BANK 1$ $ A 4360 NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH GARDENS, FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 _, CHECK NO. CHECK DATE VENDOR NO. 2425 09/29/17 000000000636 PAY AMOUNT THREE HUNDRED TWENTY AND 52/100 DOLLARS $320 . 52 - • ,i L AUTHORIZED SI . RE TO THE CATHLEEN MCDEAVITT i ORDER 237 SW 9TH AVENUE =�a' OF AUTHORIZED SIGNATUR •pro, 0 BOYNTON BEACH FL 33435 VOID AFTER 180 DAYS BOR DER CONTE INS MICROPRINTI 11°0000 24 2511° 1 06 70 2. 2E19 5/:130 6 30 29 20 611' BOYNTON BEACH GENERAL EMPLOYEES'PENSION 000024255 VENDOR: DATE CHECK NO. 000000000636 09/17 000000000636 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 10/8-11/17 MCDE 09/29/17 320 . 52 320 . 52 . 00 320 . 52 Check Total 320 . 52 I 1 l 1 _ if ff r"' ,• O.Ughv V L- 1" . TRAVEL AUTHORIZATION FORM r .;ii-•: t-' ' CITY OF BOYNTON BEACH, FLORIDA s..„4:,7.,:,,:;;,- 1 .ar: 1 Date Submitted: September 13,2017 2 Traveler Name: Cathleen McDeavitt 3 C •partment: General Employees Pension Board 4 Tr. vel Dates: October 8-October 11, 2017 5 Meeting Description: FPPTA Conference 7 Travel l',5...tination Tampa, Florida 8 Meanr •..f Travel: Personal Vehicle 9 When personal ,r 1r is authorized, provide estimated mileage &cost: Estimated TNilear: 438 See Instructions (Item 14)if the Traveler receives a car allowance. Es L.,<ated cost $ 236.52 (Effective January 1,2016, reimbursement is$.54 per mile) 10 Plane Fare S • 11 Registration Fee $500.00 • Please note the City is tax exempt in the stale only as long as the City sends a check for the hotel. Travelers wit not be 12 Hotel Cost $537.00 reimbursed for sales tax for in-state hotels. Hotel Name Tampa Marriott Waterside Hotel Sharing Room With: N/A 13 Meal Cost: Bre:,, tnst-$8. If any meals are included in registration Lurr'Th -$12. $24.00 fee or hotel rate please do not include in Din:'--r-$20. $60.00 this section. 14 Other Cost: Ground Tr-a! •.portation Traveler must provide receipt for reimbursement F • %ling Fee Traveler must provide receipt for reimbursement Tolls Traveler must provide receipt for reimbursement Fuel Traveler must provide receipt for reimbursement • Written justification Must be attached to this form as to why rental car is necessary and an insurance card must 15 Rental Car: be picked up from Risk Management prior to leaving. . -:l Cost $ 1,357.52 16 Advance Check i- '.tiested: Yes (Type Yes or No) DO NOT send a separate 121 form for advance l (No advance will be issued for expenses less than$50. Only show amount to be paid to Traveler-do not include amounts that were paid on separate 121 Amount rm :!ts 1.1/ $320.52 forms) Acct.#to b.:••i :lige . General Employees Pension Board Note to Traveler-A Travel'Expense Report roust be conpleted wit in 15 days of return torn yots trip.Receipts mast be keptfor hotel,fuel. Traveler :nature: ,-/' e(- ground tr tation,tags parking tees,etc. PLEASE NOTIFY FINANCE DEPT.AT EXT.6320.IF TRIP IS CANCELED A COPY t. THE CONFERENCE/MEETING BROCHURE MUST BE ATTACHED TO THIS FORM Trustees Signatu; �,---,--,-- % /A,v'_ • C:\Users\Cathy McCe:r. :,t::rtsPersonaCPenslon 8oerd\2016\Trustee School—October 2017,x!s BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002426 VENDOR: 000000000191 09/17 000000000191 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 80635836 MCDEAV 09/29/17 537 . 00 537 . 00 . 00 537 . 00 Check Total 537 . 00 • XTI '-QHa?HI BO1C ' URE'BACKtNOUNOON: HUE: •ERTHEBAC(Cco t W'' ~C .111%A �' . 1.t �RIEE � C5" EF;1��!"T• :_A • Gc.'i ••L M•L•' S IS •I CENTERSTATE BANK 0 0. 1 . . 4360 NORTHLAKE BLVD STE 206 10891 N:Military Trail PALM BEACH GARDENS,FL 33410 Palm BeachGardens FL 33410 800-206-0116 • 63-1289/670 • CHECK NO. CHECK DATE VENDOR NO. 2426 09/29/17 000000000191 PAY- • AMOUNT FIVE HUNDRED THIRTY-SEVEN AND 00/100 DOLLARS $537 . 00 AUTHORIZED SI URE ^ TO THE TAMPA MARRIOTT WATERSIDE HOTEL & MARINA ORDER 700 SOUTH FLORIDA AVENUE OF AUTHORIZED SIG.ATI TAMPA FL 33602 VOID AFTER 180 DAYS DORDER CONTAINS MICROPRINT 1120000 2Ls 2611° 1:0E 70 289 Si:Ei06 30 29 20E11° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002426 VENDOR: DATE CHECK NO. 000000000191 09/17 000000000191 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 80635836 MCDEAV 49/29/17 537 . 00 537 . 00 _ 00 537 . 00 Check Total 537 . 00 \,/ Q-) TarnoF, •.ott Waterside Hotel & Marina 700 South T .) Avenue Tampa, Her USA Phone: ;900 Confirc,. Number: 80635836 Thank yo . i• reservation. Your reservation is guaranteed to yourAmerican Express card. We look for: greeting you. Your St.-iv Check in: -if, October 8, 2017 Check ono .osday, October 11, 2017 Rooms Total gun': • Room( Guesi I C:0;' :1 or 2 Double, City view. 3 nic.iht.: USD 606,49 d hotel currency (incl. est. taxes) Room This ho'—Ih loi-ce-free policy 2 Dout;!.., Guest THY MCDEAVITT Summa-n,., Summz::- : Charges Cost per night per room (USD) Sunday. 2017 -Wednesday, October 11, 2017(3 nights , FL 179.00 PENSIOn S. ) Local Fec 1.50 • EStirM1' •.. , Menttaxes and fres Total f•" room) Rate De-tails Aci•-"' c• `•araes Cl DCAICIflAI TDI 1CTCCo Modi3; Y ':2servation Please, `'e chanoe in the length or dates of your reservation may result in a rate chance. oop6ois 6a/1a/lr Exem $'dR..lona • taau si PUMit2fTt th C 212,Florida ROMA 86-8012691644C-0 07/31/2017 •� 07/si/2022 MUNICIPAL.GOVERNMENT iYffiriCE413 t h.rrii r _ ... Eriol' Ms Dan "[ a ct This certifies thie CITY OF BOYNTON BEACH 100 E BOYNTON BEACH BLVD BOYNTON BEACH FL 33435-3938 Is exempt from the payment of Florida Sze end on tax on real property ranted,transient rental property rented,tangible personal property purchased or re rtsd,or services purchased. • DR-14 impo- •F Irk inform?don tor Exempt Organizations FL 10/t8 • F(0R10 1. You must provide WI vendors and suppliers with an exemption oertff oeto before making tax-t csrrpt ploohases. Sea Rule 12A-1.038,Florida Admh istrative Cods(FAG.). 2. Your Corsair .Codfr8te of Examption Ie to be uaed fly by your organization for year organIza'dorr'a fiery nonprofit activities. 3. Pun:theses made by an Individual on behalf of the organtzatlon ere taxable,even It the Ind dual will be relmburaed by the organization. 4. Thla exempt on applies only to purchases your organization rralksa. The sale or lease to others of tangible personal property,sleeping accommodations,or other real property la taxable, Your argent-talon must reglie , and coact and remit tales and use tax on 5uoh table transactions. Note: Churches are exempt from this requirement apt when they are the lessor of real property(Ruta 12A-1.070,FAO.). 5. It Is a criminal offense to fraudulently present this certificate to evade the payment of tax. Under no olroumetancee should this°artifices be used for the personal benefit of any Individual. Vlolataz will be liable for payment of the safes tax plus a penalty of 200% of the tax, and may be subject to convlotion of a thkri-degr- felony. My violation will require the r vocsdtan of this certificate. 8. if you have questions regarding your exemption crtf lcate,ply contact the Bceanption Unit of Account Management at 800-352,3671. From the available options,select"Registration of Tex.. .,"then'Registration Information,'and finally"Exemption Certificates and Nonprofit Entitles." The mailing address la FO Box 6480, "Pallaheee, FL 32314-64,80. • BJ f YNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK No. 00002427 000000000001 10/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT - #15770 OCT2017 10/05/17 6, 208 . 48 6, 208 . 48 . 00 6, 208 . 48 Check Total 6, 208 . 48 SEBICEuVHCDOCIIMEtNASI'A_COCOREDIACBGROUND IIWHtI BAEEIMIEBAC1 CONTAIH;r WARTIFICIA WATERMfiRMOURATAtE 7 -, �glE�l •' = ' " z'_"� ' ` • = " ' S' CENTERSTATE BANK I 4 4360.NORTHLAKE BLVD STE 206 10891,:N.Military Trail PALM BEACH GARDENS,FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2427 10/05/17 000000000001 PAY . AMOUNT SIX THOUSAND TWO HUNDRED EIGHT AND 48/100 DOLLARS $6, 208 . 48 L - �411 -. ►� AUTNOR EosI . URE - TO THE PENSION RESOURCE CENTER - - ORDER. 4T3T60. I�FORTHLAKE BLVD OF SUITE 206 AUTHORIZED sIGNATUR PALM BEACH, GARDENS FL 33410 ' VOID AFTER 180 DAYS ..._.__..—��______—__.�.__._,_—__. ��—.___._____—_—.____.,_��._.•._.�___..�.-..__,_ _._.._..—_—____—__. '-OROER CONTAINS MIGROPRI17 Il°00002i,, ? I` 1:0670 a, 2a451:Ei063029206i1` • • BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002427 VENDOR: DATE - CHECK NO. 000000000001 10/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT #15770 OCT2017 10/05/17 6, 208 . 48 6, 208 . 48 . 00 6, 208 . 48 Check Total 6, 208 . 48 • i _ • Resource Centers, LLC Invoice I4360 Northiake Bivd., Suite 206 • -__ Palm Beach Gardens, FL 33410 Date Invoice # 9/29/2017 15770 Bill To Tax ID Boynton Beach General Pension Fund Pension Resource Center 36-4504183 Resource Centers 87-0800468 • r • Description Qty Rate Amount Boynton Beach General Employees' Pension Monthly Administrator 4,925.00 4,925.00 C,2 If' 0 Fee for October 2017 Postage 372 0.49182.28 0 International Postage 1.20 1.20 .c )) Retirement/DROP Application Fee for: 10 100.00 1,000.00 Hernan Argueta Gloria Borges Barry Brandenburg Gary Ezzell • Paul Green - Robert Greene Selwyn Lee John Patterson Francisco Rodriguez Dwight Saulter • Death Benefit Processing Fee for Michelle LePage (Beneficiary of 100.00 100.00 I-- Lawrence Lawrence LePage) Total Amount Due $6,208.48 '4/ . Mail Payments to: V )) Resource Centers, LLC at Palm Beach Gardens address above or ACH Payment to: CenterState Bank Pension Resource Center ABA #: 063114030 Account #: 20414819 If you have any questions concerning this invoice, please contact Bonnie Lindberg at Resource Centers, LLC Phone 561.459.2959 or email - bonnie@ResourceCenters.com BOYNTON BEACH GENERAL EMPLOYEES'PENSION000024SZ8 VENDOR: DATE CHECK NO. 000000000047 10/17 000000000047 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT • #20595 SEPT2017 10/05/17 114 . 00 114 . 00 . 00 114 . 00 Check Total 114 . 00 i•• •_v A CDEQA-IBACIGTDUND AaHEBACIECDNTAINSANARTIFIC ATER OLVARAICANGF VIE,r 4i 1111 . 4360 NORTHLAKE BLVD STE 206 10891 N.Military Trail -PALM BEACH GARDENS,FL 33410 Palin Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2428 10/05/17 000000000047 PAY - AMOUNT ONE HUNDRED FOURTEEN AND 00/100 DOLLARS $114 . 00 AUTHORIZED SI URE TO THE KLAUSNER, KAUFMAN, JENSEN & LEVINSON ORDER 7080 NORTHWEST 4TH STREET AUTHORIZED `�y`� -• . OF /v/ PLANTATION FL 33317 Of VOID AFTER 180 DAYS DORDER CONTAINS MICROPRINTI II°0000 211 2811' 40E70 b 289.5':3306 30 29 20Eiv BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002428 VENDOR: DATE CHECK NO. 000000000047 10/17 000000000047 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT #20595 SEPT2017 0/05/17 114 . 00 114 . 00 - 00 114 . 00 C`ieck Total 114 . 00 iI l Klausner, Kaufman, Jensen & Levinson A Partnership of Professional Associations Attorneys At Law 7080 N.W.4th Street Plantation,Florida 33317 Tel.(954)916-1202 www.robertdklausner.com Fax(954)916-1232 Tax I.D.:45-4083636 BOYNTON BEACH GENERAL EMPLOYEES September 28, 2017 Attn: KERRY DUTTON Bill#20595 4360 NORTHLAKE BOULEVARD- SUITE 206 PALM BEACH GARDENS, FL 33410 For Legal Services Rendered Through 09/28/17 CLIENT: BOYNTON BEACH GENERAL EMPLOYEES :BBGE MATTER: BOYNTON BEACH GENERAL EMPLOYE S' PENSION BOARD :150045 Professional Fees Date Attorney Description Hours Amount 09/27/17 BSJ REVIEW AND RESPOND 0 EMAIL 0.40 114.00 FROM SCOTT BAUR REG RDING DALE SUGARMEN'S CERTIFIED IVORCE DOCUMENTS; REVIEW D•CUMENTS Total for Services 0.40 $114.00 CURRENT BILL TOTAL AMOUNT DUE .$ 114.00 — ), BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002429 VENDOR: DATE CHECK NO. 000000000072 10/17 000000000072 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT #1703 3QTR17 10/05/17 20, 241 . 00 20, 241 . 00 . 00 20, 241 . 00 Check Total 20, 241 . 00 i1« EAEISSUMELHA OLOWC;6RDUNIX, 1WHITEPAPE# TEffACIECOkiNSAWARTIFICIAC VftATfRMARMICIDTANC 1 '_ . CENTERSTATE BANK 1 1 •' 4360:NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH,GARDENS;.FL 33410 Palm Beach Gardens,FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2429 10/05/17 000000000072 PAY AMOUNT TWENTY THOUSAND TWO HUNDRED FORTY-ONE AND 00/100 DOLLARS $20, 241 . 00 4 � �� AUTHORQEU 51 �. RE TO THE SOUTHEASTERN ADVISORY SERVICES, INC ORDER 12 PIEDMONT CENTER f 4� AUTHORIZED SIGNANR SUITE 202 /� O F ATLANTA GA 30305 (/ VOID AFTER 180 DAYS UOROER CONTRINS IAICROVRINT 11"0000 211 2911' 1:06 70 1 289 51:806 30 29 206oi4 BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002429 VENDOR: DATE CHECK NO. 000000000072 10/17 000000000072 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN I NET AMOUNT #1703 3QTR17 0/05/17 20, 241 . 00 20, 241 . 00 . 00 20, 241 . 00 C.Zeck Total 20, 241 . 00 . . ("I C;tl' IIl1:AS-I"ER.N AID\ lSOEn' SERVICES, INC:. i.& -,'). • 3495 Piedmont Road,NE Bldg 12-202 DATE: October 1,2017 Atlanta, GA 30305 INVOICE# 1703 Phone 404 237 3156 FOR: 3Q17 Bill To: Boynton Beach General Employee's Pension Fund C/O Ms. Kerry Dutton The Resource Centers, Inc. 4360 Northlake Blvd.Suite 206 Palm Beach Gardens, FL 33410 771„K �a:w�,'i�,r"'�'i ��"�' #r-5t3''�'s 3'�ur^yL-F," 'tie * n t a41ry r�,r' d •1"^i�E'r'ra.�tet' � ` -1..t `- Ar y' c .tr ig', s;r's". Ot`g Performance Measurement and Related Investment Consulting Services $20,241 6/30/17 Value: $161,929,962 ( $161,929,962 x 5 Basis Points)/4 = $20,241 TOTAL --icy' 1'v- '; Please send your payment to: Southeastern Advisory Services,Inc. 3495 Piedmont Road,NE Bldg 12-202 Atlanta,GA 30305 If you have any questions concerning this invoice, contact: Jeff Swanson,904 233 7600,jeff@seadvisory.com Thank you for your business!- BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK No. 00002430 VENDOR: DATE 10/17 000000000055 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT - 2QTR17 10/05/17 2, 666. 55 2, 666. 55 _ 00 2, 666. 55 Check Total 2, 666 . 55 THECI(CLOETHIS3 ICUMENTMA <AMORENACKGROUNDICNWHREPAPEt#mTHEBACICCONTAUIISF lEtCIAIVATER1VIARIM CtII,'AT'JIRFIU VEll{ o' • ' CENTERSTATE BAN III I. 4360 NORTH LAKE BLVD STE 206 10891.N.Military Trail PALM BEACH GARDENS FL 33410 Palm Beach Gardens FL 33410 800-206-0116 ' 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2430 10/05/17 000000000055 PAY`" - AMOUNT TWO THOUSAND SIX HUNDRED SIXTY-SIX AND 55/100 DOLLARS $2, 666. 55 AUTHORIZED SI - URE TO THE MUTUAL OF AMERICA CAPITAL MANAGEMENT ORDER ATTN: THOMAS KELLY OF AUTHORIZED SIGNATUR 're 320 PARK AVE, 9TH FLOOR NEW YORK NY 10022-6839 VOID AFTER 180 DAYS •i.._ 80P.DER CONTAINS MICPOP RINTI w0000 Z43011° 1:0670 b 28951:BD630 29 206n° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002430 VENDOR: DATE CHECK NO. 000000000055 10/17 000000000055 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 2QTR17 0/05/17 2, 666 . 55 2, 666. 55 . 00 2, 666 . 55 Check Total I 2, 666 . 55 L L j 1J ,CT • • MUTUAL OF AMERICA MUTUAL OF AMERICA CAPITAL MANAGEMENT CAPITAL MANAGEMENT LLC 320 PARK AVENUE NEW YORK NY 10022-6839 212224 1798 212 224 2305 FAX THOMAS P.KELLY SENIOR VICE PRESIDENT ADMINISTRATION August 18, 2017 Dixie Martinez Pension Fund Administrator- Resource Centers City of Boynton Beach General Employees' Pension Fund 100 East Boynton Beach Blvd. Boynton Beach, Florida 33435 Summary of fees for the Period 3/31/2017 through 6/30/2017 Basis Point Charge Investment • Per Period Management Fee Billable Assets at 3/31/2017 10,666,217.96 2.5 $2,666.55 Total Advisory Fee Due $2,666.55 / • Please remit payment to: JPMorgan Chase New York, NY ABA No.021000021 Account No. 910-2-693703 Mutual of America Capital Management LLC 320 Park Avenue New York, NY 10022-6839 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC A SLIgSIDIARY OF MIf,JAI.OF AMERICA LITE INS;,RANC:COMPANY BOYNTON BEACH GENERAL EMPLOYEES'PENSION 1 DATE CHECK NO. 0000243 VENDOR: 000000000020 10/17 000000000020 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 201703063 3Q17 10/09/17 25, 813 . 00 25, 813 . 00 . 00 25, 813 . 00 Check Total 25, 813 . 00 CO Ml� '_ t ULORMA GRO r i4,-?),7-Vit l cn��:�5<'c�� 'a_ i 1 .1 f I • I�QH:NIHRE,LIA" •i ,''BACKS � t 1 !MIli�47Y��'-�MM �11{� �:luhlU�GLW31►�f� - CENTERSTATE BANK II A .•4360<NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH GARDENS, FL 33410 Palin Beach Gardens FL 33410 800-206-0116 ' 63-1289/670 • i CHECK NO. CHECK DATE VENDOR NO. 2431 10/09/17 000000000020 PAY AMOUNT TIENTY-FIVE THOUSAND EIGHT HUNDRED THIRTEEN AND 00/100 $25, 813 . 00 DOLLARS . ) ?)/:_ki---1(j2_, I,i/i..--r> -41 AUTHORIZED SRO,.,IURE -' TO THE DEPRINCE RACE & ZOLLO INC \ // ORDER 250 PARK AVENUE SOUTH, STE 250 � `�` q� /l OF AUTHORIZED SIGNATUfl }' ATTN : ANGELA JOHNSTON /J/j� 0 WINTER PARK FL 32789 VOID AFTER 180 DAYS BORDER CONTAINS M CROPRINIIt 00000243111' 1:0640128451:806 30 24 2060 BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002431 VENDOR: DATE CHECK NO. 000000000020 10/17 000000000020 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 201703063 3Q17 ! 0/09/17 25, 813 . 00 25, 813 . 00 . 00 25, 813 . 00 Check Total 25, 813 . 00 (2) Go�� DePrince Race & Zollo Inc. Invoice 250 Park Avenue South Suite 250 Invoice Date Invoice # Winter Park, FL 32789 10/9/2017 201703063 Phone: 407-420-9903 Due on receipt Boynton Beach General Pension Fund paymentgroup@resourcecenters.com • Description Portfolio Value Annual Fee Quarterly Fee Boynton Beach General Employees' Pension Fund ti Management Fees-Quarter Ended September 30, 2017 25,812,542 129,063 32,266.00 Less 20% Fee Discount per 9/14/15 letter -6,453.00- Subtotal 25,813.00 Annual Fee Schedule: 0.50%on balance cc: via email to Kerry Dutton Kerry@resourcecenters.com Please remit payment checks to: Wire Instructions: DePrince, Race &Zollo, Inc. Account Name: DePrince, Race.&Zollo, Inc. ATTN: Angela Johnston, CFO Account#0003090487 250 Park Ave. South, Suite 250 ABA 021201383 Winter Park, FL 32789 Valley National Bank Winter Park, Florida Contact Email: Accounting@DRZ-1nc.com Quarterly Management Fee Due $25,813.00 u BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002432 VENDOR: 000000000080 10/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 6ACCTS AUG2017 10/09/17 4, 276. 67 4, 276. 67 . 00 4, 276 . 67 Check Total 4, 276 . 67 ea .gi p. 'ENT h' ' I , :ACKGROUNICNH: :AC'•CDtTAtN5"A . 'TIEI 'ATERMAfl11 H0 'A1 IN 11N I W11'1-11411' r • = - '' •` - ` ENT RSTATE BANK I � g 4360 NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH,GARDENS,FL 33410 Palm Beach Gardens,FL 33410 800-206-0116 63-1289/670 { CHECK NO. CHECK DATE VENDOR NO. 2432 10/09/17 000000000080 PAY .. AMOUNT FOUR THOUSAND TWO HUNDRED SEVENTY-SIX AND 67/100 DOLLARS $4, 276 . 67 K kz-a,„,_,_,,,,),,P AUTHORIZED SIGTLRE TO THE WELLS FARGO BANK, N.A_ ' ORDER.. TRUST OPERATIONS NW 5159 /a rJ - { OF• AUTHORIZED SIGNATUR 4. PO BOX 1450 MINNEAPOLIS MN 55485-5159 VOID AFTER 180 DAYS BORDE?CONTAINS MICF.OP RINT u°0000 21-. 3 2u 1:06 ?O 1 2E1951:130630 2 R 20E0 BOYNTON BEACH GENERAL EMPLOYEES'.PENSION 00002432 VENDOR: DATE CHECK NO. 000000000080 10/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN -NET AMOUNT 6ACCTS AUG2017 x0/09/17 4, 276. 67 4 , 276 . 67 . 00 4, 276. 67 C`ieck Total 4, 276 . 67 /—y v v Fee Invoice: 11320450 M �. Account Number: 25876101 Wells Fargo Bank, N.A. For Period: 08/01/2017- 08/31/2017 Invoice Date: 09/11/2017 [1 � � I. 00071e XNTFDV70 Return To:D)� � Boynton Beach - Clearbridge LG Ca Wells Fargo Bank, N.A. 1 Trust Operations Dixie Martinez Admin.' � OCT 0 x2017 � p .r,' 4360 Northlake Blv,d Ste 206 I NW 5159 Palm Beach Gardens FL 33410 P.O. Box 1450 Minneapolis, MN 55485-5159 By -- $842.90 PAYMENT DUE UPON RECEIPT Account Name: Boynton Beach - Clearbridge LG Cap Contact: Karl Hutchinson 0055938 Fold Here Summary of Current Period Fees Charged Billed Total Administration $842.90 $842.90 ' 4c) i Total Current Period Fees $842.90 $842.90 0 w 0 W O O O n _ 3C Ti O Ut d .iEB PLEASE RETURN THIS PAGE WITH PAYMENT Page 1 • W -„ 'M: Fee Invoice: 11320450 `� y c Account Number: 25876101 ' ° o Wells FargoBk N.A. �� Bank, For Period: 08/01/2017- 08/31/2017 Wrota Invoice Date: 09/11/2017 Account Name: Boynton Beach - Clearbridge LG Cap Contact: Karl Hutchinson 0055938 . Services Value/Quantity Rate Frequency Amount Administration Market Value 25,286,904.59 @ 0.0004 x 1/12 842.90 Total Administration $842.90 Total $842.90 Summary Total Charged to Account $0.00 x Total Billed $842.90 Payment Due $842.90 0 v CD -, 0 O W O N N W _ Z Z Z Z Z Z Z O O O O N C) X )- .0 O . 0) rn -:--,A- ' Page 2 Fee Invoice: 11319676 Account Number: 4046000170 I ti Wells Fargo Bank, N.A. For Period: 08/01/2017- 08/31/2017 f 1 Invoice Date: 09/11/2017 �'� T n nn iF n CE Lr I I i LC 000713 XNTFDV70 OCT 0 3.2017 Return To: Boynton/San Fx _1) 1) Wells Fargo Bank, N.A. Dixie Martinez Admin. I Trust Operations 4360 Northlake Blvd Ste 206BY-------- NW 5159 Palm Beach Gardens FL 3341 0 U_____ _ __ _ P.O. Box 1450 Minneapolis, MN 55485-5159 $627.72 PAYMENT DUE UPON RECEIPT Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 • Fold dere Summary of Current Period Fees Charged Billed Total -41 Administration $627.72 $627.72 .-;_J Total Current Period Fees $627.72 $627.72 0 rV v W O N W Z Z O C C O O n X G ti C O T. ,--3-, r-441w P N:nrr) .cl''' 'hi:WA LT PLEASE RETURN THIS PAGE WITH PAYMENT r Page 1 Fee Invoice: 11319676 Account Number: 4046000170 kN�� Fa/goBan�� &[�. /cvPoo �� 08/01/2017 0831/2017 fl Invoice In,oiceDa/e. 0e/11/20/7 Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 18.e31.5e8// @ 0.0004 x 1/12 627.72 Total Administration $627.72 Total $627.72 Summary Total --- lo1u| ChurgadtoAcoount $0.00 � Total Billed -- — $627.72 � -'_ CD Payment Due $627.72 ND � � = � � , � � Page F Fee Invoice: 11319675 Ti Account Number: 4046000161 F ° Wells Fargo Bank, N.A. For Period: 08/01/2017- 08/31/2017 G .r _. , nil t I c Invoice Dale: 09/11/2017 \ CP_EI \11 000712 XNTFDV70 ,� - 4 Return To: 1 OCT 3 2.017 i� Wells Fargo Bank, N.A. Boynton/DHJ Fxd 1 9 Dixie Martinez Admin. UL. Trust Operations 4360 Northlake Blvd Ste 206 NW 5159 ' Palm Beach Gardens FL 33410 BY P.O. Box 1450 Minneapolis, MN 55485-5159 $640.45 PAYMENT DUE UPON RECEIPT Account Name: Boynton/DHJ Fxd Contact: Karl Hutchinson 0055938 • Fold Heie Summary of Current Period Fees Charged Billed Total Administration $640.45 $640.45 i-k_} Total Current Period Fees $640.45 $640.45 O W W Z O O O O O n -L 0 at W Mani virlaivLY PLEASE RETURN THIS PAGE WITH PAYMENT E°4+ Page 1 Fee Invoice: 11319675 gg.. Account Number: 4046000161 ADA Wells Fargo Bank, N.A.AFor Period: 08/01/2017 - 08/31/2017 Invoice Date: 09/11/2017 Account Name: Boynton/DHJ Fxd Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 19,213,403.69 @ 0.0004 x 1/12 640.45 Total Administration $640.45 Total $640.45 Summary Total Charged to Account $0.00 Total Billed $640.45 Payment Due $640.45 O W O W O O O O N n :L U O O_ 0) Page 2 ' ' ' Fee Invoice: 11319650 Account Number: 4046002463 Wells Fargo Bank, For Period: 08/01/2017 08/31/2017 atza±,,a invoice Date: 0e/11/2017 � UD � O iii N i � � � � U W U 000709 XwTFDwo Return To: Boyntun/Chy |Wut "` OCT0 � yD1- � Wells Fargo Bank, N.A. �� Dixie Martinez Admin. ~` ' ^`'' » Trust Operations M�� 436UNo�hake Blvd Ste 206 �� NW 5159 Palm Beach Gardens FL 3341 P.O. Box 1450 |I. y---- _______) Minneapolis, MN 55485-5159 $951.55 PAYMENT DUE UPON RECEIPT Account Name: 8oyn1on/Ci1yMoi Contact: Karl Hutchinson 0055938 � • e�� — — — — — Summary of Current Period Fees Charged Billed Total \ -71 "R\ �851 55 �851 �5 �"��) � Y/ - Total Current Period Fees $951.55 $951.55 ry � � Z- Z � .- Zr 7,-, � 0 � � ' � ,� �� *�� PLEASE RETURN THIS PAGE WITH PAYMENT vi...,.... Page 1 Fee Invoice: 11319650 Account Number: 4046002463 .ta•�"r g Bank, N.A. or Period: 08/01/2017-08/31/2017 _ � Wells FargoInvoice Date: 09/11/2017 Account Name: Boynton/City Mut Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 28,546,548.41 @ 0.0004 x 1/12 951.55 Total Administration $951.55 Total $951.55 Summary Total Charged to Account $0.00 Total Billed $951.55 Payment Due $951.55 o , 0 O N • C O O O n G7 ,•Yv 7ti .! Page 2 Fee Invoice: 11297499 e AccuuntNumber: 25639300 Wells Fargo Bank, N A For Period: 06/01/2017 08/31/2017 ,Y+4a. Invoice Date: 0e/07/2017 Mt 000525 xmTmwo It: Id \P(11 Return To: Boyn1oo/DRZ Wells Fargo Bank, N.A. �&�*� KerKerryDuKon' Admin Trust Operations |�' 43GONo�h|akuB|v�dSTE2O6 UUt LA NW 51 9 Palm Beach Gardens FL 33410 P.O Box 1450 Minneapolis, MN 55485-5159 [7- $847.75 PAYMENT DUE UPON RECEIPT Account Name: Boynton/DRZ Contact: Karl Hutchinson 0055938 Fold*el° SummaryoY Current Period Fees Charged Billed Total � Administcation $84775 $847J5 Total Current Period Fees $847.75 �84775 -' � � � � � � ' ~ . 4',1v,i. ,.,y PLEASE RETURN THIS PAGE WITH PAYMENT :u�� Page 1 Fee Invoice: 11297499 s Account Number: 25639300 Wells Fargo Bank, N.A. ® For Period: 08/01/2017- 08/31/2017 St;Y4 - • ,., Invoice Date: 09/07/2017 Account Name: Boynton/DAZ Contact: Karl Hutchinson 0055938 Services Value/Quantity . Rate Frequency Amount Administration Market Value 25,245,111.54 @ 0.0004 x 1/12 841.50 Annual Account Maintenance 1.00 @ 75.00 x 1/12 6.25 Total Administration $847.75 Total $847.75 Summary Total Charged to Account $0.00 Total Billed $847.75 Payment Due $847.75 w 0 W Z Z Z Z Z O O O C n O - S Page 2 Fee Invoice: 11297477 owEas Account Number: 24102201 WellFargor £/an/� &[.4' For Period: 0e/01/2017- 08/31/20/7 ��, irvo�eDam: 09/07/2017 �� F� p r� Lg U ‘I] 11 000512 XNTF0x0 <1 OCT0 ��rO1- Return To: Boynton/S&P400 ' — �� '/ Wells Fargo Bank, N.A. Dixie Martinez, Administrator Trust Opxationa The Resource CentersLL� / � NVV5159 ' JBy / 438ONo�h|akmBhd, Subo2Utu —��--� P.O. Box 1450 Palm Beach Gardens FL 33410 K4innoaym|is, MN 55485-5159 $366.30 PAYMENT DUE UPON RECEIPT Account Name: BoyoNn/S&P400 Contact: KarlHu�ohionon 0055938 ' Fold Here Summary of Current Period Fees Charged Billed Total Administration $366.30 $366.30 0 Total Current Period Fees $366.30 $366.30 / �-2 = • • koprn = � � .~_ - _ PLEASE RETURN THIS PAGE WITH PAYMENT Page 1 70W:114,4;41 Fee Invoice: 11297477 E YS% Account Number: 24102201 ,r rµ; Wells Fargo Bank, N.A. For Period: 08/01/2017 08/31/2017 uk .' :'''. Invoice Date: 09/07/2017 Account Name: Boynton/S&P400 Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 10,801,385.64 @ 0.0004 x 1/12 360.05 Annual Account Maintenance 1.00 @ 75.00 x 1/12 6.25 Total Administration $366.30 Total $366.30 Summary Total Charged to Account $0.00 0 0 Total Billed $366.30 Payment Due $366.30 1 N O C O N N W Z Z Z Z 0 0 0 CO X O n O Page 2 I . , • SS ' OZT /5T Teqoj, ){ 9L.3 fr9 * OZ 00 t-79 - 0 I-79 60Z LT/TO/T7 ZS8S00 86 - 9Z 00 36 —t/9? 86 —t'9Z LT/TO/T- TS8S00 TZ - 8ZO /E 00 - TZ - 8ZOIC TZ " 8ZO /E LI/TO/TT OS8S00 88 - gzeIE oo - eo - cz.c_"c se - gzE 'E LT/TO/T- 68c00 8S - L8Z'Z 00 es - LEW? es - Lez '? 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"ON 60C1N3A 31)10 NO31-17 ON)1331-13 , 9140-HZ-CM ozw6azi-E9 01.nE-Id stiaPie91-Pea£3 inlEcl 0 LVEE"Id'SN3a20/9 1-1DV9EI litIlVd 11E-11 AJEIWIN"N 168b1 90Z 315 0A1 3>itf1HiliON()Kt, I II NOISNid.S33A0-1d1(113 11/ N39 H3V3E3 NOINA0E1 V.P.'01,11131AVIAIDNIEW 411011,011YRIGNM5111131.411111111MMEDIONOVINe. 1 • allniktiOtaNDOMMEIIIMOUSVHINUVIMOINDLIA0331MaaVa7g3TA SS - OZT '6T TOL 3f39143 - f7OZ 00 - 179 " b0C f79 - f7OZ LT/TO/IT ZS8S00 86 ' ff9Z 00 " 86 " f79Z 86 ' b9Z LT/TO/IT TS8S00 TZ " 8ZO 'S 00 - TZ - 8Z0 'S iz - EniE LT/TO/TT 08g 88 - SZE'S 00 " 8e - szE 'E 88 - SZE 'E LT/TO/TT 6fr8SG ,f es - LEW 00 ' 8S - L8Z 'Z 8S - L8Z /Z LT/TO/TI 88c00 9Z ' 600 '01_ 00 " 9Z -600 '0T 9Z - 600 '0T LT/TO/TT L. 8000 INnowv JAN N3AVI 3SIG 1 Clfkid INFIONV INnoviv DDIOANI 3 LVC1 3DIOANI 2.138 Nr-IN :i3IOANI TOF7000000000 LT/TT TOb000000000 'z0000 ON>03HD Diva 1210C1N3A NOISNad,S3D.A0-1d1A13-1V2:1PNDS 1-13VAE1 NOINAOS - BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002434 VENDOR: 000000000001 11/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT ' #15868 NOV2017 11/01/17 5, 350. 61 5, 350 . 61 . 00 5, 350 . 61 Check Total 5, 350 . 61 • ITHEFAC AlEMISMOCUMENTAMAIKORSITIM r GROUNDA0WW111T 'AP.ER?►HEEBACIFfCONT/UNSs/O ARTIFICIA1b111rATEMARIG `N01 °ATFANAN -TV `'= BOYNTON BEACH GENERAL EMPLOYEES'PENSION CENTERSTATE BANK I If A 4 4360 NORTHLAKE BLVD STE 206 10891.N.Military Trail { PALM BEACH GARDENS;FL 33410...... Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 - - CHECK NO. CHECK DATE VENDOR NO. 2434 11/01/17 000000000001 PAY AMOUNT FIVE THOUSAND THREE HUNDRED FIFTY AND 61/100 DOLLARS $5, 350 . 61 /: --/j„_,LArL)›e • AUTHORIZED SI lniURE j1!- TO THE PENSION RESOURCE CENTER ' / ORDER. 4360 NORTHLAKE . BLVD �`" OF, AU HORZ DSIGNATUR r SUITE 206 PALM BEACH GARDENS FL 33410 (/ VOID AFTER 180 DAYS BORDER CONTAINS MICROPRINTI n°000021, 31B114 1:06 70 1, 289 53:806 30 29 20611` BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002434 VENDOR: DATE CHECK NO. 000000000001 11/17 000000000001 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT #15868 NOV2017 11/01/17 5,350 . 61 5, 350 . 61 . 00 5, 350 . 61 Check Total 5, 350 . 61 ' /- �- � ([ 0� � � , , rv��` � � ' ' " �� (\� /� D cak�� -� �� g / � ^�= ~~ � � r ��= Inval' ce 4360 Northlake Blvd', Suite 206 111 �� '. Palm Beach Gardens, FL 33410 Date Invoice # I0V3I/20171 15858 Bill To Tax ID Boynton Beach General Pension Fund • Pension Resource Center 36'4504183 Resource Centers 87'0800468 / Description Qty Rate Amount Boynton Beach General Employees' Pension Monthly Administrator 4'923.00 4,925.00 C [/ �� Fee for November 2017 ^-/r Postage 371 0.49 191J9 (-D 's,`,C) . International Postage 1.20 1.20 ( 's Death Search 4th Quarter 2ol7 394 0.60 256.40 ,._.-.2 '. "- FED-EX psD'EX OvcrnightShipping 6.22 6.22 �� t u, . ITh Total Amount Due $5,350.61 . _- / Mail Payments to: Resource Centers, LLC at: Palm Beach Gardens address above, If you have any questions concerning this invoice, please contact Bonnie Lindberg at Resource Centers, LLC Phone 561.459.2959 or email honnic@Resuurcecentcm.com BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK No. 00002435 VENDOR: 000000000003 11/17 000000000003 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT ' 4QTR17 11/01/17 19, 054 . 74 19, 054 . 74 . 00 19, 054 . 74 Check Total 19, 054 . 74 • i:'-. `&Y11iEFAC I WHISMOCOMEKHASUOCORECr: CK 0 lithialriEPAPERM :ACiICO '' S:• ARHIHCIAIMWATERMARW I VAMEANOMONEVklig BOYNTON BEACH GENERAL EMPLOYEES'PENSION CENTERSTATE BANK III I . i 4360'NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH GARDENS,FL 33410. Palm Beach Gardens FL 33410 63-1289/670 800-206-0116 CHECK NO. CHECK DATE VENDOR NO. 2435 11/01/17 000000000003 PAY - AMOUNT NINETEEN THOUSAND FIFTY-FOUR AND 74/100 DOLLARS $19, 054 . 74 _I_ AUTHORIZED SI RE TO THE ALLIANCE BERNSTEIN / ORDER PO BOX 72.47=7497i • "`" -•r .....10, /r OF . 1 PHILADELPHIA PA 19170-7497 VOID AFTER 180 DAYS BORDER CONT?INS GICROPRINT 00000 2 4 3 511' I:0670 / 289 511:1306 30 29 20611. BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002435 VENDOR: DATE CHECK NO. 000000000003 11/17 000000000003 INVOICE NUMBER INVOICE DATE( INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT 4QTR17 11/01/17 19, 054 . 74 19, 05.4 . 74 . 00 19, 054 . 74 C:`zeck Total 19, 054 .74 1 1 e. C L o°L(Q • M W.7,, :4' AllianceBernstein L.P. One North Lexington Avenue yi White Plains, NY 10601 m2. (914)993-2300 Boynton Beach General Employees'Pension Plan Invoice Date: October 17,2017 • 4360 NorthLake Boulevard Billing Period: 10/01/2017-12/31/2017 Suite 206 Invoice#: 20170930-16508-A Palm Beach Gardens, FL 33410 • Billing Reference#: 03731693/27200 Attn: Patricia DeRario Benefit Payment Administrator Total Amount Due: $19,054.74 ; 10464ea 1107,4 . ... 8".-' +U o ' a _tRW. -f: t*awl L;+tP .P 'viSTMOS` `n`.€ Ylit'Sts: tti f lwa e i jet#tae w . ,Lfidl !Account# Account Name Product Billable Assets _--1 .03731693 CITY OF BOYNTON BEACH GENERAL EMPLOYEES' US STRATEGIC CORE PLUS 18,658,386.91' i _ PENSION FUND _ I Billable Assets on 09/3012017: $18,658,386.91 • aciS 4�« "a• IAw' 10/01/2017-12/31/2017 Annual Fee Rate • Quarterly Fee Calculation 0.5000%1 On First $5,000,000.00 $5,000,000.00 $6,250.001 0.3750% On Next 15,000,000.00 13,658,386.91 12,804.741 0.2500% On Next 80,000,000.00 - -� 0.1875% On Remainder - -1 • 18,658,386.91 19,054.74 Total Amount Due: $19,054.74] • 1r1 e-nttrgtrie`titl W 1,4K�. Cki ::r111% '1116 '-'14 47-k 1:1 ,r _la "» q. �, 4.' Payment by check should be mailed using enclosed envelope or mail to: Payment by wire should be made using the following instructions: AllianceBemstein L.P. ABA#021000089 P.O.Box 7247-7497 Citibank N.A. Philadelphia,PA 19170-7497 For Account of:AllianceBernstein L.P. Please include your killing reference 4 and invoice#on the check. Account#3044-2053 Details:Please include your billing reference#and invoice#with wire remittance BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002436 'VENDOR: 000000000125 11/17 000000000125 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 3QTR17 11/01/17 31, 329 . 22 31, 329 . 22 . 00 31, 329. 22 Check Total 31, 329 . 22 D-.4›-. - E>rtncga TAiocuniakiitacakarcnivi Nei H�RS�t�� .:ActcoNrauarm�crn�wArl��umx �ra�.gin '. n�Ti4i t� %�,f4•°y BOYNTON•BEACH GENERAL EMPLOYEES'PENSION 4360 NORTHLAKE BLVD STE 206 10891 N:-Military Trail PALM BEACH GARDENS,EL 33410. Palm Beach Gardens FL 33410 800-206-0116 63-12891670 •. • CHECK NO. CHECK DATE VENDOR NO. 2436 11/01/17 000000000125 PAY :. AMOUNT THIRTY—ONE THOUSAND THREE HUNDRED TWENTY—NINE AND 22/100 $31, 329 . 22 DOLLARS < _,)4,-(://7,_�.,L� - RUTr+onrzeo s uRe TO THE CLEARBRI DGE :INVESTMENTS \/. ORDER LEGG.. MASON FBO:CLEARBRIDGE INVESTMENTS AUTHORIZED SIGNATOR 1 qo k-- OF 13985 COLLECTIONS CENTER. DRIVE CHICAGO . IL 60693-0139 ' VOID AFTER 180 DAYS • BORaER CONTAINS I.”IOROPPINTII 0000 21. 3611° 1:06701 2$95':60630 29 20611° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002436 VENDOR: DATE CHECK NO. 000000000125 11/17 000000000125 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT 3QTR17 11/01/17 31, 329 . 22 . 31, 329 . 22 . 00 31, 329 . 22 Check Total 31, 329 . 22 1 1 • I • • L_ tJ w C lr Investments • Date 10/17/2017 Employees'Pension Plan of the City of B Billing Period 4360 Northlake Blvd,Suite 206 Q317 Palm Beach Gardens,FL 33410 Attn: Kerry Dutton Invoice NumberBOYNTON LCG093017 • Custodian ID 25876101 CUSTOMER COPY-PLEASE RETAIN FOR YOUR RECORDS. Employees'Pension Plan of the City of Boynton Beach,Florida • Fee Schedule Detail-Employees'Pension Plan of the City of Boynton Beach,Florida Annual Rate Valuation-USD Fee 0 to 999999999999 0.500% 24,859,054.36 31,329.22 • Total Fees Due Q317: 31,329.22 • • Mailing address: Wire Instructions: Legg Mason FBO:CLEARBRIDGE INVESTMENTS LLC Paying Agent:CLEARBRIDGE INVESTMENTS LLC • 13985 Collections Center Drive Bank:Bank of America Chicago,IL 60693-0139 ABA#:026009593 Include on remittance statement: Acctre 004467062771 Ref: 521-SC0036 Reference:521-SC0036 AttJoanna Szaro Ref: CBA/Q317/BOYNTON_LCG Attn: Joanna Szaro • Account asset values are calculated and provided by your custodian. Accrued income is included in the calculation of account asset values. BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002437 VENDOR: DATE CHECK NO. 000000000034 11/17 000000000034 INVOICE NUMBER INVOICE DATE 1 INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 4QTR17 11/01/17 13, 228 . 94 13, 228 . 94 . 00 13, 228 . 94 Check Total 13', 228 . 94 • YHE:ACI�CONTAINVANIART EICIAL'ATERIMAi1K4 NOC-11' AI�`I(NGtET I • :: ,'�,��',,�`.-, ":�,,� ,Q�EtKC�OFT1115�000IIiNEN •S�It�C�EOriED�:•Gl(G1A011N I:OHWHIi �y �, CENTERSTATE BANK $s i21�3 1 BOYNTON NTON BEACH GENERAL EMPLOYEES'PENSION 4360 NORTHLAKE BLVD STE 206 10891 N:Military Trail PALM BEACH GARDENS,FL 33410. • Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2437 11/01/17 000000000034 AMOUNT PAY .. THIRTEEN THOUSAND TWO HUNDRED TWENTY—EIGHT AND 94/100 $13, 228 . 94 DOLLARS 9 - • AUTHORIZED SI . RE TO THE GARCIA'HAMILTON Sc. ASSOCIATES, LPJ ORDER 5 HOUSTON CENTER R 1 42 O F AuTHOH2E0 SIONATUR 44'( ''. (2'41.11' 1401 •MCKINNEY, - SUITE 1600 HOUSTON - TX 77010. VOID AFTER 180 DAYS 90HDEfl COItTAINS MICP.OPRINT H.0000 21 1 70 1:0670 1 2E95➢:PO Er 30 2R 20 ,Iin BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002437 VENDOR: • DATE CHECK NO. 000000000034 11/17 000000000034 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 4QTR17 . :1/01/17 13, 228 . 94 13, 228 . 94 . 00 13, 228 . 94 C`ieck Total 13, 228 . 94 • • • • • I .`J qj \t ,t� '! `t"om 1=\--r-z- 1` ` t 1 \CIAOn 1ZC117 U' ,1J 1ARCIA HAMILTON ► ASSOCIATES, P L. INVOICE# 284203v -~ 5 HOUSTON CENTER 1401 McKINNEY, SUITE 1600 HOUSTON,TX 77010 October 3,2017 TEL: (713) 853-2322 BOYNTON BEACH GENERAL EMPLOYEES PENSION PLAFAX: (713) 853-2308 W W.GARCIANAM ILTONASSOCIATES.COM (4046000161) bbge . Tegrit Plan Administrators do Sage Lehman/EIlyse Russo • 4360 Northlake Boulevard,Ste.206 Plam Beach Gardens,FL 33410 • GARCIA HAMILTON &ASSOCIATES SUMMARY OF MANAGEMENT FEES For The Period October 1, 2017 through December 31,2017 Portfolio Value with Accrued Interest as of 07-31-17 19,227,042.10 Portfolio Value with Accrued Interest as of 08-31-17 19,252,305.66 Portfolio Value with Accrued Interest as of 09-30-17 19,019,578.35 Average of 3 Months $ 19,166,308.70 10,000,000 @ 0.3000%per annum 7,500.00 9,166,309 @ 0.2500%per annum 5,728.94 Quarterly Management Fee $ 13,228.94 r1 TOTAL DUE AND PAYABLE S 13,228.94 We urge you to compare account statements that you receive from us with the account statements that you receive from your custodian. BOYNTON BEACH GENERAL EMPLOYEES'PENSION DATE CHECK NO. 00002438 VENDOR: 000000000636 11/17 000000000636 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT J 10/8-11/17 MCD 11/08/17 32 . 20 32 . 20 . 00 32 . 20 Check Total 32 . 20 I�� vTFI"I'` ;,FiH15MICU1NENV •4KCQYORE4R8ACKGRDUNQ.QRM1TE$APFR 'iHLB1[C1t6CONTlUNSAfirllEiTIFICIAWATERAIiUiWAHOCdI`A AllfiNGLt.I not *,Lr BOYNTON BEACH GENERAL EMPLOYEES'PENSION CENTERSTATE BANK I 1 . 4360.NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH GARDENS,FL 33410.. Palm Beach Gardens FL 33410 63-1289/670 800-206-0116 CHECK NO. CHECK DATE VENDOR NO. 2438 11/08/17 000000000636 PAY AMOUNT. THIRTY-TWO AND 20/100 DOLLARS $32 . 20 AUTHORIZED SI -, LIRE { TO THE CATHLEEN MCDEAVITT / ORDER . 237 SW 9TH.-AVENUE � 0 ` i OF AUTHORREDSIGNATU/ ,Pie BOYNTON BEACH FL 33435 ' VOID AFTER 180 DAYS - 11.0000243811° 1:0 670/28951:B0E302920611° BOYNTON BEACH GENERAL EMPLOYEES'PENSION . 00002438 VENDOR: DATE CHECK NO. 000000000636 11/17 000000000636 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC.TAKEN NET AMOUNT 10/8-11/17 MCD 11/08/17 32 . 20 32 . 20 . 00 32 . 20 Check Total 32 . 20 I 6LC. - -__-____ � �� pLJ i r i�lr q r !U ` � LV ^ , , . " CITY OF BOYNTON C1 ! i 4.‘,'‘'1.-"1" TRAVEL EXPENSE FORM i u.✓ I v Date Submitted to Finance 10/20/2017 Must be submitted withia-bus --days-frrot>yrfctrirn date. Traveler's Flame Cathleen McDeavitt Department General Employee's Pension Board — Travel Dates 10/08/2017- 10/11/2017 Meeting Description FPPTA Trustees School Travel Destination Tampa, FL Departure Time and Date 10:00 a.m. 10/08/2017 Return Time and Date 5:00 p.m. 10/11/2017 1 Receipts must be attached for all expenses except for meals. Kindly attach all small receipts to an 8.5 x 11 sheet. b Dates of Travel>>> 10/08/17 10/09/17 10/10/17 10/11/17 Sun. Mon. Tues. Vied. Thurs. Fri. Sat. Total Hotel $ 179.00 $ 179.00 $ 179.00 $ 537.00 • i Breakfast @$8.00 $ - Lunch @$12.00 $ 12.00 $ 12.00 $ 24-00 Dinner @$20.00 $ 20.00 $ 20.00 $ 20.00 $ 60.00 Regis'rration Fee $ 500.00 $ 500.00 Ground Transportation $ 1 Parking Fee $ 28.00 $ 28.00 Tolls $ 2.10 $ 2.10 $ 4.20 Fuel $ Plane Fare $ - Rental Car $ - Books/Publications $ - Effective Januar/1,2010,mileage is no longer allowed for Travelers receiving a car allowance. Mileage 1 Personal Car Mileage($.54/mile) Attach printout from Mapquest(or similar service)from origin to destination to support mileage. automatically 1 calculated below at I Enter mileage below(not$)on days of the travel to and from the destination. $.565/mile. t( Mileage To Destination 219.0 $ 118.26 , LAf_______, estination 219.0 $ 118.26 �-- I (*)Total Expenses»» $ 1,389.72 1 Expense Recap (*)Total Expenses $ 1,389.72 Less payments made by direct payment $(1,037.00) or City credit card directly to vendor Less amount paid by traveler Less amount paid in advance to traveler, $ (320.52)1 (**)Balance Due $ 32.20 Account# I ("*)If Balance Due amount is in parenthesis,the traveler owes the City money-attach check to this form. S(**) If the Balance Due amount does not have parenthesis,the City owes the traveler money. kt Certification&Signatures I I certify that the expenses listed above were incurred as necessary travel expenses in the performance of official City . siness and that this request for reimbursement is true and correct as to every mater( matter. ' Employee @ ?� /�C 1 �V ` �� Department Head or Designee------77. 7?-"----77 \ i Finance Director or Designee C:\Users\Cathy McDeavitt\Documents\Personal\Pension Board\2017\\2017 Oct Expense Form.xisx L y--Th ' i Mv'Account SunP'as's_corn: j,090U1t' U a . 4 uysU uIftrecorneffliOIVIAS MCogavlTr Account Type:prat • Aus:ACTIVE 4¢Yron Account Nurrmber.154880iisemarne:TC 1CDEAVITT m xaab ; £. 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IftSS =1131SF[Foe I;SCOL=Tveue,;gont,er TON 1QP El/IBAL=W3penimg Balance \u&&IItW,O.I,-F=3/Itrite-.Qff Adjutnaent P,A WiMENT=Payments ;IGF,'D9=.Sale/Adjusumnemt PRODUCT.--=IPr lect P;urzdhases 511!::1=Tdkst ifitaaas limit maw)=Promotional Dis.munt BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002439 VENDOR: DATE CHECK NO. 000000000047 11/17 000000000047 - • INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 420733 OCT2017 11/08/17 798 . 00 798 . 00 . 00 798 . 00 Check Total 798 . 00 V 1HE FACE 1 F ISMOCUMF iASkCDIMREDBACKGROUI ! �HREtfef i'�THESACIOCONTAINTAWARTISCI'' WATERNMAAKEE .HOLDIATAWANG '''-'s',#:< ''' I BOYNTON BEACH GENERAL EMPLOYEES'PENSION /, 4360:NORTHLAKE BLVD STE 206 10891 N.Military Trail PALM BEACH GARDENS,FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/570 , CHECK NO. CHECK DATE VENDOR NO. 2439 11/08/17 000000000047 PAY AMOUNT SEVEN HUNDRED NINETY-EIGHT AND 00/100 DOLLARS $798 . 00 _ • I- _ ,'- _ s� _>> AUTHORIZED SI .- RE - TO THE KLAUSNER, KAUFMAN, JENSEN .& LEVINSON f ORDER 7080 NORTHWEST 4TH •STREET ✓"'' O F - AUTHORIZED SIGNATU/ VA OF PLANTATION FL 33317 , VOID AFTER 180 DAYS L,.,-.._.,_—__.._.__—____.._ —,,.__________�___________.__.--_____._____.BOfiDERC.01:s Ec9±DPRINi1I u°0000 24 3-911° 1D06 70 b 26 9 5a g06 39 29 20-6u — — BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002439 VENDOR: DATE CHECK NO. 000000000047 11/17 000000000047 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT #20733 OCT2017 11/08/17 798 . 00 798 . 00 . 00 798 . 00 Check Total 798 . 00 1 Klausner, Kaufaan, Jensen &z. Levinson A Partnership of Professional Associations Attorneys At Law 7080 NA/.4th Street Plantation,Florida 33317 Tel.(954)916-1202 www.robertdklausner.com Pax(954)916-1232 Tax I.D.:45-4083636 BOYNTON BEACH GENERAL EMPLOYEES October 31, 2017 Attn: KERRY DUTTON Bill#20733 4360 NORTHLAKE BOULEVARD - SUITE 206 PALM BEACH GARDENS, FL 33410 For Legal Services Rendered Through 10/31/17 CLIENT: BOYNTON BEACH GENERAL.EMPLOYEES :BBGE MATTER: BOYNTON BEACH GENERALEMPLOYEFS' PENSION BOARD :150045 Professional Feed Date Attorney Description • Hours Amount 10/01/17 BSJ REVIEVV MEMO REGARDING TRIBUNE 0.30 85.50 LITIGATION SETTLEMENT OFFER AND RECOMMENDATION 10/20/17 BSJ REVIEW AND RESPOND 110 EMAIL 2.00 570.00 FROM KERRY DUTTON; RlEVIEW FILES; TELEPHONE CALL WITH SCOTT BAUR; REVIEW PENSION PLAN 4OCUMENTS AND HISTORICAL FILES; EiVMAILS TO SCOTT BAUR; . 10/23/17 BSJ REVIEW AND RESPOND EMAILS FROM 0.10 28.50 SCOTT BAUR AND KERRY DUTTON REGARDING LATONE ELECTIVE BENEFITS 10/30/17 BSJ REVIEW AND RESPOND TiO EMAIL 0.20 57.00 FROM DALE SUGERMAN 10/31/17 BSJ REVIEW PENSION RESOURCE CENTER 0.20 57.00 SSAE 18 SOC 1 TYPE 2 REPORT Total for Services 2.80 $798.00 CURRENT BILL TOTAL AMOUNT DUE $ 798.00 BOYNTON BEACH GENERAL EMPLOYEES'PENSION CHECK NO. 00002440 VENDOR: DATE 11/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 6ACCTS SEPT2017 11/08/17 4, 349. 95 4 , 349 . 95 . 00 4, 349 . 95 Check Total 4, 349 . 95 • c;,--7 . `4 -FA =1 61111$110CII HA5rA`0O'1 RED ACKGROUNIOON ITEiP' •. - THEBACWCONTAI I ANtARTIFICIAINATERMARK" OI{Do-T`AtEANGCIMtal:i a' BOYNTON BEACH GENERAL EMPLOYEES'PENSION CENTERSTATE BANK . III a A 4360;NORTHLAKE BLVD STE 206 10891.N.Military Trail PALM BEACH GARDENS;.FL 33410. Palm Beach Gardens FL 33410 800-206-0116 63-1289170 CHECK NO. CHECK DATE VENDOR NO. 2440 11/08/17 000000000080 PAY AMOUNT FOUR THOUSAND THREE HUNDRED FORTY-NINE AND 95/100 DOLLARS $4, 349 . 95 L, ` AUTHORIZED SI RE TO THE WELLS- FARGO BANK, N.A. ' - f { ORDER., TRUST ,-OPERATIONS NW 5159_ �=�""' rI/ OF AUTHORIZEDSIGNATUR • y PO BOX 1450 / MINNEAPOLIS MN 55485-5159 VOID AFTER 180 DAYS . _-_—.__ -___v__ -_.___-._. BORDERCONTAINS MICROPRINTI --- -- ----------00 0 0 0-2-! 0-11°- 11:0 6-701 2B 9 51 a B 0 6 30 29 20-60 -- -- BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002440 VENDOR: DATE CHECK NO. 000000000080 11/17 000000000080 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 6ACCTS SEPT2017 _1/08/17 4, 349. 95 4 , 349 . 95 . 00 4, 349 . 95 C.-ieck Total 4, 349 . 95 I1 Fee Invoice: 11372641 0'4 ,s Account Number: 4046002463 °x '. s Wells Fargo Bank, N.A. For Period: 09/01/2017 09/30/2017Invoice Date: 10/06/2017 t 002727 XNTFDV00 ll Return To: Boynton/City Mut NOV 06 2017 Wells Fargo Bank, N.A. Dixie Martinez Admin. Trust Operations 4360 Northlake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 33410 P.O. Box 1450 gy` � Minneapolis, MN 55485-5159 $1:,023.1'1 PAYMENT DUE UPON RECEIPT Account Name: Boynton/City Mut Contact: Karl Hutchinson 0055938 Fold Here Summary of Current Period Fees Charged Billed Total Administration $1,023.11 $1,023.11 Total Current Period Fees $1,023.11 $1,023.11 4', N Z Z Z Z Z Z O C n O C V 61 f.a.:•b: c : p PLEASE RETURN THIS PAGE WITH PAYMENT -r Page 1 Fee Invoice: 11372641 Account Number: 4046002463 Wells Fargo Bank, N.A. For Period: 09/01/2017- 09/30/2017 ` K l Invoice Date: 10/06/2017 Account Name: Boynton/City Mut Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 30,693,363.64 @ 0.0004 x 1/12 1,023.11 Total Administration $1,023.11 Total $1,023.11 Summary Total Charged to Account $0.00 Total Billed $1,023.11 Payment Due $1,023.11 O U, W -`z 0 rn - 1i Page 2 w .,, Fee Invoice: 11349901 • r j, Account Number: 24102201 " Wells Fargo Bank, N.A. For Period: 09/01/2017- 09/30/2017 i•".- , r {e• ,x`' • " ^, Invoice Date: 10/06/2017 -7002032 XNTFDV00 L� �� +� i ` Return To: Boynton/S&P400 D NOV2��7 I Wells Fargo Bank, N.A. q Dixie Martinez, Administrator 1 0 `� Trust Operations The Resource Centers, LLC NW 5159 4360 Northlake Blvd., Suite 2061 P.O. Box 1450 Palm Beach Gardens FL 33410 gy________ Minneapolis, MN 55485-5159 $380.46 PAYMENT DUE UPON RECEIPT Account Name: Boynton/S&P400 Contact: Karl Hutchinson 0055938 Fold Here Summary of Current Period Fees Charged Billed Total _x Administration $380.46 $380.46 „0 Total Current Period Fees $380.46 $380.46 N O W N W ,, O a w U, N W O O O O O_ n X O ' 0 0 0, O co rK'r-,par.„— PLEASE RETURN THIS PAGE WITH PAYMENT '' . Page 1 4� 1 ox 1 Fee Invoice: 11349901 ��, Account Number: 24102201 Vr Wells Faro Bank N.A.i + � g , For Period: 09/01/2017- 09/30/2017 a.A Invoice Date: 10/06/2017 Account Name: Boynton/S&P400 Contact: Karl Hutchinson 0055938 • Services Value/Quantity Rate Frequency Amount Administration Market Value 11,226,296.94 @ 0.0004 x 1/12 374.21 Annual Account Maintenance 1.00 @ 75.00 x 1/12 6.25 Total Administration $380.46 Total $380.46 Summary Total Charged to Account $0.00 Total Billed $380.46 cp Payment Due $380.46 O 01 0 ,1 W O O CJ X • O 7 Page 2 ar4Rili 3 Fee Invoice: 11372717 Account Number: 4046000161 .� Wells Fargo Bank, N A For Period: 09/01/2017- 09/30/2017 Invoice Date: 10/06/2017 002734 XNTFOVOo ` `' Return To: Boynton/DHJ Fxd 5 NM :0 6 2017 \ Wells Fargo Bank, N.A. Dixie Martinez Admin. t Trust Operations - 4360 Northlake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 33410 P.O. 0 Minneapolis,x MN 55485-5159 • $632.24 PAYMENT DUE UPON RECEIPT Account Name: Boynton/DHJ Fxd Contact: Karl Hutchinson 0055938 Fold Here. �_ - ---- — --' — - - Summary of Current Period Fees Charged Billed Total X Administration $632.24 $632.24 \/-- Total Current Period Fees $632.24 $632.24 --/j ,7) ` W � W v W cn W 0 O O n 0 0 0 0 tJ LJ • PLEASE RETURN THIS PAGE WITH PAYMENT L Page 1 { Fee Invoice: 11372717 d Wells Fargo Bank, N.A. Account Number: 4046000161 + !`fR For Period: 09/01/2017 09/30/2017 ', Invoice Date: 10/06/2017 Account Name: Boynton/DHJ Fxd Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 18,967,058.52 @a 0.0004 x 1/12 632.24 Total Administration $632.24 Total $632.24 Summary Total Charged to Account $0.00 Total Billed $632.24 0 Payment Due $632.24 0 G C W G G 0 Qi Page 2 r� 7 x _,;" Fee invoice: 11350059 i 7E L' Account Number: 25639300 r '' •1 w Wells Fargo Bank, N.A. For Period: 09/01/2017- 09/30/2017 G ', _ N�t Invoice Date: 10/06/2017 002164 XNTFDV00 D I Return To: . ., Boynton/DRZ ��v �a 201 Wells Fargo Bank, N.A. Kerry Dutton, Admin ` — I Trust Operations -- 4360 Northlake Blvd STE 206 NW 5159 Palm Beach Gardens FL 3341 i--J�. P.O. Box 1450 By___—_—:--_::.------ Minneapolis, MN 55485-5159 $866.60 PAYMENT DUE UPON RECEIPT Account Name: Boynton/DRZ Contact: Karl Hutchinson 0055938 Fold Here -- -- -- —- _ - — — - -- – __ - .. - .. Summary of Current Period Fees Charged Billed Total Administration $866.60 $866.60 \ Total Current Period Fees $866.60 $866.60 ` I.. 0Ell W O a w 0, 0, V W _ O O C 0 0 a X_ O 3. O O U J i\` F, y La`is`aE Y3r,C , PLEASE RETURN! THIS PAGE WITH PAYMENTF ,r• Page 1 Fee Invoice: 11350059 fia Account Number: 25639300 1",t: Wells l=argo Bank, N.A. For Period: 09/01/2017 - 09/30/2017 y k Invoice Date: 10/06/2017 Account Name: Boynton/DRZ Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount - Administration Market Value 25,810,551.35 @ 0.0004 x 1/12 860.35 Annual Account Maintenance 1.00 @ 75.00 x 1/12 6.25 Total Administration $866.60 Total $866.60 Summary Total Charged to Account $0.00 Total Billed $866.60 Payment Due $866.60 W C 0 0 c7 O 0 Page 2 V Fee Invoice: 11372726 Account Number: 4046000170 k, ALA. t Wells Fargo Ban". For Period: 09/01/2017- 09/30/2017 1 �� Invoice Date: 10/06/2017 _ _ 002736 XNTFDV00 Return To: Boynton/San Fx NOV tk) 201 Wells Fargo Bank, N.A. ii Dixie Martinez Admin. Trust Operations 4360 Northlake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 334 **;y _ �—=r P.O. Box 1450 Minneapolis, MN 55485-5159 $619.34 PAYMENT DUE UPON RECEIPT Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 Fold Here Summary of Current Period Fees Charged Billed Total Administration $619.34 $619.34 \ . Total Current Period Fees $619.34 $619.34 LJ O O O_ C7 Cz O n • L'+ r Aare, i eta 4 l PLEASE RETURN THIS PAGE WITH PAYMENT - r1 Page 1 $ o,.'°• Fee Invoice: 11372726 €.q, , <� i _i Account Number: 4046000170 6 1 Wells Fargo Bank, N.A. For Period: 09/01/2017-09/30/2017 invoice Date: 10/06/2017 Account Name: Boynton/San Fx Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 18,580,125.10 @ 0.0004 x 1/12 619.34 Total Administration $619.34 Total $619.34 Summary Total Charged to Account $0.00 x 'g Total Silted $619.34 Payment Due $619.34 N V W m W O W cn C J',., 7. Z `z c 0 n 0 N x Z T O C . N J ,f,'-).-.:.!❑❑yy Page 2 T.;7,- -rm o, Fee Invoice: 11373464 f1-r Account Number: 25876101 ..� Wells Fargo Bank, N.A. • Q For Period: 09/01/2017- 09/30/2017 � g,,.,* '.k' Invoice Date: 10/06/2017 002756 XNTFDV00 1h Return To: Boynton Beach - Clearbridge LG Ca -)1:. NOV .06 2017 i Wells Fargo Bank, N.A. Dixie Martinez Admin. SI ��E Trust Operations rs w 4360 Northlake Blvd Ste 206 NW 5159 Palm Beach Gardens FL 33410 — –t P.O. Box 1450 BY---- ye --y-' Minneapolis, MN 55485-5159 $828:20 PAYMENT DUE UPON RECEIPT Account Name: Boynton Beach - Clearbridge LG Cap Contact: Karl Hutchinson 0055938 Fold Here Summary of Current Period Fees Charged Billed Total 0 Administration $828.20 $828.20 c. Total Current Period Fees $828.20 $828.20 __.) -,k } 0, `(e W J 0 0 w 0, W Z Z _ •Z Z Z E O O O O 0 C) X_ T O O O N v v —e7.---1, ei‘AP:PT:0 PLEASE RETURN THIS PAGE WITH PAYMENT r_F: Page 1 Fee invoice: 11373464 ek Account Number: 25876101 Wells Fargo Sank, N.A. For Period: 09/01/2017- 09/30/2017 Invoice Date: 10/06/2017 Account Name: Boynton Beach - Clearbridge LG Cap Contact: Karl Hutchinson 0055938 Services Value/Quantity Rate Frequency Amount Administration Market Value 24,845,858.80 @ 0.0004 x 1/12 828.20 Total Administration $828.20 Total $828.20 Summary Total Charged to Account $0.00 Total Billed $828.20 Payment Due $828.20 -J Cn -77 0 0 0 J C� O O nJ n O 0 C, N Page 2 BOYNTON BEACH GENERAL EMPLOYEES'PENSION VENDOR: DATE CHECK NO. 0000244 000000000055 11/17 000000000055 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 1QTR17 11/09/17 2, 565 . 19 2, 565 . 19 _ 00 2, 565 . 19 Check Total 2, 565 . 19 FiT- ;:u IHEaCEs'ominocum Irraisnoti D;611sganotmk wli PMti' "; zesi IrGONT u AWARTIRCIA ATERMAMVI OE�O A IGEE I , =r-' BOYNTON BEACH GENERAL EMPLOYEES'PENSION -' _ 'l • • tr�} 4360'NORTHLAKE BLVD STE 206 10891,N.Military Trail PALM BEACH GARDENS;FL 33410 Palm Beach Gardens FL 33410 800-206-0116 63-1289/670 CHECK NO. CHECK DATE VENDOR NO. 2441 11/09/17 000000000055 PAY AMOUNT TWO THOUSAND FIVE HUNDRED SIXTY-FIVE AND 19/100 DOLLARS $2, 565 . 19 a i (---I _ _.. _ 4, _._ AUTHORIZED SI RE ^ TO THE MUTUAL :OF AMERICA CAPITAL MANAGEMENT - ORDER. ATTN: THOMAS KELLY i,�.....: OF - - AUTHORIZED SIGNATUR pry 320 PARK ,AVE, 9TH FLOOR 1 NEW YORK NY 10022-6839 VOID AFTER 180 DAYS -_.. — ___, BORDER CONT4INS IAICAOPRINTI! u30000 2LA 1ll° iv06 702, 2E9 53mE106 30 24 2061° BOYNTON BEACH GENERAL EMPLOYEES'PENSION 00002441 VENDOR: DATE CHECK NO. 000000000055 11/17 000000000055 INVOICE NUMBER INVOICE DATE INVOICE AMOUNT AMOUNT PAID DISC. TAKEN NET AMOUNT 1QTR17 1/09/17 2, 565 . 19 2, 565 . 19 _ 00 2, 565 . 19 Crieck Total 2, 565 . 19 I I I MUTUAL OF AMERICA MUTUAL OF AMERICA C AP I TA L MANAGEMENT CAPITAL MANAGEMENT I.1_,C 320 PARK AVENUE NEW YORK NY 10022-6839 212 224 1798 212 224 23 05 FAX THOMAS P.KELLY SENIOR VICE PRESIDENT ADMINISTRATION May 01, 2017 Dixie Martinez Pension Fund Administrator-Resource Centers City of Boynton Beach General Employees' Pension Fund 100 East Boynton Beach Blvd. Boynton Beach,Florida 33435 Summary of fees for the Period 12/31/2016 through 3/31/2017 Basis Point Investment Charge Management Per Period Fee Billable Assets at 12/31/2016 10,260,762.42 2.5 $ 2,565.19 Total Advisory Fee Due $ 2,565.19 Please remit payment to: JPMorgan Chase New York,NY ABA No. 021000021 Account No. 910-2-693703 Mutual of America Capital Management LLC 320 Park Avenue New York, NY 10022-6839 Thank you. MUTUAL OF ANE.RJCA CAPITAL MANAGEMENT LLC A SUBSIDIARY OF MUTUAL OF AMERICA LIFE INSURANCE COMPANY J.P. Morgan investment Management Inc. J rviOrgar Asset Management ADVICE OF CHARGE Account:291520 Invoice:20170630-55356-A invoice Date:09/25/2017 The Pension Resource Centers,LLC 4360 Northlake Blvd,Suite 206 Suite 206 Palm Beach Gardens,FL 33410 . Attn:Payment Group TOTAL AMOUNT CHARGED: $ 31,848.80 USD For Period:04/01/2017 To 06/30/2017 Account Description Net Amount 291520 General Employees' Pension Plan of the City of Boynton Beach -Special Situation Property Fund RE Spec Situation Prop Fund Fee-For Period Ending:06/30/2017 31,848.80 USD Account 291520 Amount Charged: 31,348.80 USD TOTAL AMOUNT CHARGED: 31,848.80 USD"i 1' Not a Bill J.P.Morgan Investment Computation of the Estimated Fee for the Period ending 06/30/2017 • CITY OF BOYNTON BEACH SSPF-291520 15 Q BASPp A lsiTufkon io,m Xy'F };# s Nttnaa?f�j _ s y" ,fi"fi a :. . 411.--Q-741 ME9392,,In7A. aue ' .f �eel§ SSPF Fee Calculation: Quarterly Fee on Special Situation Property Fund Net Asset Value(Excluding Excess Cash):7,731,534.46[A]'1.25%14= 24,161.05 Quarterly Fee on Special Situation Property Fund Debt:$6,052,687.33[8]'0.625%/4= 9,457.32 Quarterly Fee on Excess Cash:$230,664.92[C]'0.15%/4= 86.50 Quarterly Fee for Special Situation Property Fund: 33,704.87 Annual Basis Points on Net Assets:* . (633,704.87/57,962,199.38)'4= 1.693% , Maximum that can be billed per agreement: 1.600% Maximum,Quarterly Fee for Special Situation Property 31,848.80 *In no event will the annual fee exceed 1.6%of the net asset value of the JPMCB Special Situation Property Fund. Calculation Components: Calculation to Determine Percentage of Fund as Cash in Special Situation Property Fund 291,237,528.00 5%Cash Reserve:5%13,687,930,137.00= 184,396,506.85 Excess Cash:$291,237,528.00-$184,396,506.85= 106,841,021.15 Excess Cash as a%:$106,841,021.15/$3,687,930,137.00 2.897 • Account's Net Asset Value(Excluding Excess Caste . Special Situation Property Fund(Net Asset Value)in the 7,962,199.38 No transactions for this quarter Adjusted Market Value for the period 7,962,199.38 Excess Cash:$7,962,199.38`0.02897 230,664.92 [C] Special Situation Property Fund in the Account less Excess Cash: 7,731,534.46 [A] Acsount'sP000rtionate Share of Special Situation Property Fund (Client's Net Asset Value/Special Situation Property Fund Net Asset Value)x Third Party ($7,962,199.38/$3,687,930,137.00)x$2,803,482,674.00= 6,052,687.33[8] Total Quarterly Fee for Special Situation Property 31,848.80 J ; ynton Beach G;-ner.iI Employees' Pension Fund al .=nce Sheet FY2018 ccp,kin,A 1001 CenterState Bank 8,463,560.66 1300 Prepaid Other 891.55 Wells Fargo Consolidated 1400 Cash Equivalents 3,568,093.78 1410 Equities 61,995,533.40 1420 Bonds & Notes 34,214,806.30 1430 Mutual Funds 31,653,350.00 1450 Accrued Income 181,458.23 1461 Due from Brokers 183,600.07 1462 Due to Brokers (468,128.92). L' "`-i' ,tib��rc.. W:18'10284 Wells�wFalg6 Total _--..�- . ;- ,712':8:6 1618 Florida Municipal 12,195,724.01 1623 JPMorgan 14,742,203.70 1653 JPMorgan Value 8,177,952.48 ": 2000 Accounts Payable (145,698.68)' 'TOTAL RESERVE FUND (MARKET VALUE): 174,763,346.58 Boynton Beach Ge=,era! Employees' Pension Fund Statement of Ince ‘me and Expense FY 2018 Acc02.1t=. cca a0 <lEa � - � co er ., ;Income: 4000 Employer Contributions 7,110,298.00 7,110,298.00 4110 EE Contributions-Pre-Tax 116,850.86 116,850.86 4120 EE Contributions-After Tax 2,399.33 2,399.33 Realized Gain/Loss-Wells Fargo 4200 Cash Equivalents (1,295.82) (1,295.82) 4210 Equities 26,102.27 26,102.27 4220 Bonds & Notes (15,078.50) (15,078.50); Unrealized Gain/Loss-Wells Fargo 4300 Cash Equivalents 913.00 913.00 4310 Equities 1,013,872.81 1,013,872.81 4320 Bonds & Notes (34,890.39) (34,890.39) 4330 Mutual Funds 763,252.69 763,252.69 Unrealized Gain/Loss-Mgr Held 4518 Florida Municipal 422,842.10 422,842.10 4523 JPMorgan 10,244.61 10,244.61 4553 JPMorgan Value 12,780.89 12,780.89 4600 Interest & Dividend Income 194,315.28 194,315.28 .Total Income 9,622,607.13 9,622,607.13 `Aecou t D cr9ptiipn 1 End.Oetober....r ....Yeas-To-Date Expense: 5000 Benefit Payments 760,118.67 760,118.67 5100 Refund of Contributions 8,340.72 8,340.72 5300 DROP Distributions 2,400.00 2,400.00 5310 DROP Distributions-Monthly 10,000.00 10,000.00 , 6110 Administrator Fees 6,025.00 6,025.00 `: 6160 Postage 183.48 183.48 6200 Trustee Expense-Conference 1,357.52 1,357.52 6300 Fiduciary Liability Insurance 4,740.00 4,740.00 Total Ex:.ense793,165.39 793,165.39 Reserve Fund Last Period — 165,933,904.84 165,933,904.84 •Balance To/ From Reserve 8,829,441.74 8,829,441.74 'TOTAL RESERVE FUND 174,763,346.58 174,763,346.58 CITY OF BOYNTON BEACH BOARD OF TRUSTEES GENERAL EMPLOYEES' PENSION PLAN . MEETING OF NOVEMBER 27, 2017 1:30 P.M BENEFIT APPROVALS APPLICATION FOR REFUND OF CONTRIBUTIONS TAB POITIER DATE OF HIRE 04/17/2017 DATE OF TERMINATION 08/03/2017 TYPE OF DISTRIBUTION LUMPSUM AMOUNT OF REFUND $622.58 20% TAX WITHHOLDING $124.52 NET AMOUNT OF DISTRIBUTION $498.06 VESTED NO ACTION: JAMES THOMAS DATE OF HIRE 02/01/2016 DATE OF TERMINATION 05/26/2017 TYPE OF DISTRIBUTION LUMPSUM AMOUNT OF REFUND $665.72 20% TAX WITHHOLDING $133.14 NET AMOUNT OF DISTRIBUTION $532.58 VESTED NO ACTION: TCHRISTOPHER CINQUE DATE OF HIRE 05/29/2012 DATE OF TERMINATION 07/17/2017 TYPE OF DISTRIBUTION LUMPSUM AMOUNT OF REFUND $13,703.89 20% TAX WITHHOLDING $2,740.78 NET AMOUNT OF DISTRIBUTION $410,963.11 VESTED YES ACTION: ERCILIA MESSON DATE OF HIRE 12/14/2014 DATE OF TERMINATION 06/30/2017 TYPE OF DISTRIBUTION LUMPSUM AMOUNT OF REFUND $8,340.72 20% TAX WITHHOLDING $1,668.14 NET AMOUNT OF DISTRIBUTION $6,672.58 VESTED NO ACTION: APPLICATION TO RETIRE JOSEPH SCHOENBERGER DATE OF BIRTH 07/04/1962 DATE OF HIRE 08/26/1989 DATE OF TERMINATION 07/05/2017 RETIREMENT COMMENCEMENT DATE 08/01/2017 YEARS OF SERVICE 27 YRS 10 MOS AGE AT RETIREMENT 55 YRS 25 YEAR ELECTIVE BENEFIT NO FORM OF BENEFIT LA MONTHLY BENEFIT AMOUNT $3,053.81 ACTION: APPLICATION TO ENTER D.R.O.P CARLTON BROWN DATE OF BIRTH 12/23/1961 DATE OF HIRE 10/06/1988 DROP ENTRY DATE 12/31/2016 YEARS OF SERVICE 28 YRS 3 MOS AGE AT RETIREMENT 55 YRS 25 YEAR ELECTIVE BENEFIT NO FORM OF BENEFIT LA MONTHLY BENEFIT AMOUNT $3,689.68 ACTION: GWENDOLYN MILLS DATE OF BIRTH 01/02/1954 DATE OF HIRE 11/14/2005 DROP ENTRY DATE 02/01/2016 YEARS OF SERVICE 8 YRS 5 MOS AGE AT RETIREMENT 55 YRS 25 YEAR ELECTIVE BENEFIT NO FORM OF BENEFIT LA MONTHLY BENEFIT AMOUNT $701.67 ACTION: APPLICATION TO LEAVE D.R.O.P JOSEPH FRANKLIN DATE OF BIRTH 02/11/1957 DATE OF HIRE 05/19/1988 DATE ENTERED DROP 09/09/2016 TERMINATION DATE 03/03/2017 ACTION: FRANCIE TITCOMB DATE OF BIRTH 11/05/1946 DATE OF HIRE 12/17/1992 DATE ENTERED DROP 12/18/2012 TERMINATION DATE 10/01/2017 ACTION: JANICE PHILLIPS DATE OF BIRTH 01/13/1953 DATE OF HIRE 10/01/1998 DATE ENTERED DROP 01/13/2015 TERMINATION DATE 10/13/2017 ACTION: CHAIRMAN DATE BOYNTON BEACH GENERAL EMPLOYEES' PENSION FUND INVESTMENT PERFORMANCE ANALYSIS THIRD QUARTER 2017 Note: For a copy of Part II of Southeastern Advisory Services, Inc.'s most recent Form ADV please write: Southeastern Advisory Services, Inc., 3495 Piedmont Road, N.E., Bldg. 12-202,Atlanta, GA 30305, or e-mail your request to cooper@seadvisory.com. Part II of Form ADV will be mailed within seven (7) days upon receipt of the request. Only the executive summary portion of our reporting is provided herein. If you would like an electronic copy of the back-up pages to this executive summary, send your request to jellseadvisorv.com. Jeffrey D. Swanson, Senior Consultant Southeastern Advisory Services, Inc. 3495 Piedmont Road, N.E., Bldg. 12-202 Atlanta, Georgia 30305 TEL: (404) 237-3156 FAX: (404) 237-2650 BOYNTON BEACH EMPLOYEES' PENSION FUND INVESTMENT PERFORMANCE ANALYSIS SEPTEMBER 30, 2017 TABLE OF CONTENTS TAB 1 MARKET ENVIRONMENT : TAB 2 PORTFOLIO GROWTH AND ASSET ALLOCATION TAB 3 TOTAL FUND AND ASSET MANAGER PERFORMANCE COMPARISONS TAB 4 INVESTMENT POLICY COMPLIANCE I ' 1 Executive Summary BOYNTON BEACH EMPLOYEES' PENSION FUND • . Quarter Ending September 30;2017 . I. MARKET ENVIRONMENT . Index Third Quarter 1 Year 3 Year Standard 8 Poor's 500 Index 4,5% 18.6% •� 10.8% MSCI EAFE Index(Net) 5.4% 19.1% 5.0% NCREIF Property Index 1.7% 6.9% 9.8% - CSFB Hedge Index 1,8% 5.9% • 2.0% BbgBarc U.S.Aggregate 0.9% 0.1% 2.7% ' 91 Day Treasury Bills 0.3% 0.7% 0.3% Consumer Price Index(NSA) 0.8% 2.2% 1.2% ` __, The equity bull market marched on as the S&P 500 posted positive returns for eighteen of the last nineteen months as of September.Equity investors were in part responding to strong earnings reports.Economic releases during the past three months have been solid,with growth in both the economy and labor markets.The impact of Hurricanes Irma and Harvey was less devastating than feared. Real GDP growth accelerated during the second quarter of 2017,at 3.1%annualized.This marked the strongest quarter since the first quarter of 2015. Both consumer and business spending contributed to growth.While - personal consumption comprises a larger portion of GDP,business investments were particularly strong at rates not seen since 2014.A shrinking trade deficit contributed to growth,as well,with a contraction in government spending being the only detractor.Economic growth for the first half of 2017 was 2.1%annualized.The Consumer Price Index was up 0.5%for the three months ending August and 1.9%for the one-year period.The 10-year breakeven inflation rate closed the third quarter at 1.8%,up from 1.7%at the end of June.All of the increase,however,occurred in September. ' Equities: The SSP 500 was up 4.5%for the third quarter of 2017.Large capitalization stocks underperformed small caps with the Wilshire Large- Cap Index up 4.5%versus a gain of 5.4%for the Wilshire US Small-Cap Index.Returns for the past year were nearly identical for the. two market segments.Growth stocks led value during the third quarter in both large-and small-cap spaces and lead for the past twelve months. Sector performance was varied during the quarter.The best performing sectors were IT (+8.4%), Energy (+6.7%) and Telecom Services (+6.5%).While some sectors produced more modest gains,only one sector was in negative territory,Consumer Staples(-1.2%). Fixed Income: The U.S.Treasury yield curve continued to flatten during the quarter with short to intermediate term rates rising more than long-term yields.The bellwether 10-year Treasury yield ended the quarter at 2.3%,up slightly but much higher than a year ago(1.6%).The Federal Open Market Committee decided to maintain their overnight rate while confirming the beginning of their balance sheet reduction program.Credit spreads continued lower during the quarter in both investment grade and high yield bonds.High yield spreads,which have averaged 6%during the past decade,were below.4%during the quarter and stood at 3.5%as-of September 30. _ Alternatives: Hedge funds in 2017 are turning in one of their strongest showings in years,interrupting a string of losses,redemptions and even closures.Some of the biggest returns are being seen from stock hedge funds,which posted a 9.6%return on average through September(HFR),compared with a 14.2%total return for the period by the S6P 500.Investors in hedge funds say soaring technology stocks and profitable bets against retail firms have contributed to gains this year. WSJ.com 1 SOUTHEASTERN ADVISORY SERVICES , INC. . 3 •'� Reilistercd Investment Advisor. �. =•.'' II. Live Universe Comparisons and Reporting Wilshire Public Plan Sponsor Universe J W I L S H"I R E _ Number of Plans 252 • Median Size $316.9 Million - Total Assets $2.6 Trillion Total Plans over$1 Billion 93 Total Plans between$100-$1,000 Million gg Total Plans between$20 Million-$100 Million 42 Total Plans under$20 Million 29 About Wilshire Associates The Wilshire Cooperative is collaboration between Wilshire Associates and more than 60 independent investment consulting firms. Wilshire provides advanced performance measurement and attribution reporting systems to participating firms while Cooperative members provide asset and performance data for their sponsor clients. These are then pooled into peer groups for comparative purposes.Today,the Wilshire Cooperative is the standard utilized by over 1600 plan sponsors with assets over$3.9 trillion dollars. Our Universe Comparisons • As a Wilshire affiliate,we are granted access to large and diverse peer comparisons, including total fund, portfolio-level,and style- based universes. The Wilshire Public Fund Universe(above)includes the actual,live results of over 250 public pension systems across the country. These are real public funds who face similar investment restrictions and guidelines to your own. These peer-to-peer performance comparisons are critical to the evaluation process. Our Reporting Unique to Southeastern Advisory Services is our customized reporting platform. We have the ability to accurately calculate performance against virtually any benchmark, comparison or metric. These industry-leading tools include sophisticated attribution analyses and holdings-based style and characteristic analysis. Our goal is to deliver a clear,easily-understood picture of performance that fairly assesses the effectiveness of your investment policy,strategy and managers. Each performance report is fully-customized based on your input. We welcome your requests and suggestions. • 2 SOUTHEASTERN ADVISORY SERVICES, INC. 1‘,., ' t Registered Investment Advisor 5� c•i , _-I III. PORTFOLIO GROWTH- FIVE YEARS ENDED SEPTEMBER 30, 2017 : 190.0. 1 180.0 - Total Fund ---Net Cash Flow Only. , 170.0 - I 160.0 150.0 ti i 140.0 130.0 120.0 -1 110.0 _ 100.0 �� -.---.�^ -, �'� 90.0 ° 80.0 70.0 . 60.0 09/12 03/13 09/13 03/14 09/14 03/15 09/15 ' 03/16 .09/16 03/17 09/17 Period Beginning Value Net Cash Ending Value Quarterly Fiscal Year Ending 8(000) Flow Net Gain/Loss 8(000) Return Return Dec-12 103,218 5.122 1,655 109,995 1.5% Mar-13 109,995 -1,389 6,613 115,219 6.1% Jun-13 115,219 -1,742 734 114,221 0.6% Sep-13 114,221 -2,160 5,619 117,670 4.9% f Dec 13 117,670 4,885 8,072 130,627 6.6% Mar-14 130,627 -1,337 -. 939 . 130,230, 0.7% . Jun-14 130,230 -1,888 4,765 133,107 3.7% Sep-14 133,107 - -2,092 -1,394 129,621 -1.1% i Dec-14 129,621 5,689 3,759 139,070 2.8% Mar-15 .139,070 -1,709 3,975 . 141,336 . 2.3% - "Jun-15 141,336 -1,762 1,263" 140,837 0.9% Sep-15 140,837 -2,000 -6,941 131',896 -5.0% t&I Dec 15 .131,896 -411 5,545 137,080 4.2% Mar-16 137,080 4,610 2,613 144,303 . 1.8% Jun-16 144,303 -2,140 3,538 145,701 2.5% Sep-16 145,701 -4,828 5,129 146,002 .3.5% III.W . Dec-16. 146,002 301 1,788 148,091 1.2% Mar-17 148,091 4,334 6,112 158,53.7 4.1% . June 17 158,537 -2,067 4,935 161,405 3.1% Sep-17 161,405 -2,090 5,649 164,965 3.5% e,IN 2 Total 103,405 -2,673 64,420 164,965 60.0% l r,tMrr '. :1 n-1J'i." -tl,o- n )y -- - '0,J�',"6•,'ea '^ *In 2016,the board implemented a plan to reduce the actuarial assumption by at least 10.basis points each year until 7.0%is achieved. - . 3 SOUTHEASTERN: ADVISORY SERVICES, INC. ;a;w, \ Registered Investment AdvisoriG - IV. ALLOCATION OF ASSETS Policy Allocation Current Allocation Intl Equity Intl Equity 20% Dom Equity 18.6% Dom Equity 44.3% 45% - b d "rN;raa�,Ml; we 1^�,� ro-'�rM"J�,WipwM1�p4 .:,,ua,r4'n 1e"7p�t�,�kwt�ty n� ��pl�d"; t w ,yr, " w ,;�w Real Estate M 4,` Real Estate 15% Fixed Income Cash Fixed Income 0 20/0 2.4% 20.8% Asset Class Target Allocation Current Allocation Median Public Plan Domestic Equity 45% 44.3% 45.2% International Equity 20% 18.6% 12.7%' Real Estate 15% 13.9% 0.8% Fixed Income 20% 23.6% 20.8% Cash Equivalents 0% 2.4% 2.3% Historical Asset Allocation ■Domestic Equity% D int!Equity% et Real Estate% O Domestic Fixed% O Cash&Equiv% a I ° 12/14 03/15 06/15 09/15 12/15 03/16 06/16 09/16 12/16 03/17 06/17 09/17 Domestic Equity% 47.8 47.1 46.6 43.9 45.0 43.6 42.4 43.0 44.5 46.3 44.9 44.3 Intl Equity% 15.7 16.2 16.5 15.8 16.0 15.1 14.9 15.9 15.0 15.3 17.0 18.6 Real Estate% 12.9 13.2 14.3 15.5 15.4 14.8 16.4 14.6 14.7 13.9 13.9 13.9 Domestic Fixed% 21.1 21.1 21.8 22.1 22.8 25.4 24.8 22.4 24.8 23.3 21.1 20.8 Cash&Equiv% 2.5 2.4 0.8 2.7 0.8 1.1 1.5 4.1 1.0 1.2 3.1 2.4 4 SOUTHEASTERN ADVISORY SERVICES, INC. I :" ° Registered Investment Adtsisor � Manager Dom Equity Intl Equity Real Estate Fixed Income Cash Atlanta Capital 100.0% 0.0% 0.0% 0.0% 0.0% Clearbridge 98.6% 0.0% 0.0% 0.0% 1.4% Tj DePrince Race ZoIIo 99.6% 0.0% 0.0% 0.0% 0.4% Mutual of America SBP 400 99.9% 0.0% 0.0% 0.0% 0.1% Europacific Growth 0.0% 100.0% 0.0% 0.0%. 0.0% Harding Loevner Intl Equity 0.0% 100.0% 0.0% : : 0.0% 0:0% Oppenheimer Intl Growth 0.0% 100.0% 0.0% 0.0% 0.0% Alliance Bernstein- Fixed 0.0% 0.0%. 0.0% _ 82.1% 17.9%: Garcia Hamilton-Fixed 0.0% 0.0% 0.0% 99.5% 0.5% JP Morgan RE Strategic Property 0.0% 0.0% 100.0% . 0.0% 0.0% JP Morgan RE Special Situation 0.0% 0.0% 100.0% 0.0% 0.0% Total Fund 44.3% . 18.6% 13.9% ,20.8% 2.4% r1 . 5 SOUTHEASTERN ADVISORY SERVICES, INC. ;f;: Registered Investment Advisor .• : j '! V. MANAGER ALLOCATION AND CASH FLOWS- Quarter endinu September 30, 2017 EuroPacific Oppenheimer $11,440,005 $9,409,209 Harding Loevner 6.9% 53% Bernstein Fixed 1 , $9,838,324 $18,668,764 : 6.0% .'r'r,'i', 11.3% "i Atlanta Capital �t ,�4 1 $11,772,882 � ,C�' ^ , ^�.,�'+ :: 4; : GHA Fixed l_i 7.1% r''' ldio r '! $19,017,826 ` a i,%) :I'g 4, 11.5% Mut of America ' "'u �.'^ Money Market $11,236,968 $5,934 7% ii. 0.0% 1144i" JPM RE StratProp ' , DIV `,," $14,678,677 $25,857,419 "� ,�. 8.9% 15.7% % JPM RE SpecSit $8,179,509 5.0% i f Clearbridge $24,859,054 15.1% Manager Beginning Value %Alloc Cash In Cash Out Gain/Loss Ending Value %Alloc Clearbridge $24,766,190 15.3% $103,095 ($1,358,750) $1,348,519 $24,859,054 15.1% DePrince Race Zollo $26,035,741 16.1% $103,095 ($1,358,804) $1,077,387 $25,857,419 15.7% Large Cap Equity $50,801,931 31.5% $206,190 ($2,717,554) $2,425,906 $50,716,473 30.7% ,.. , Atlanta Capital $11,347,527 7.0% $0 $0 $425,355 $11,772,882 7.1% __ Mutual of America SOP 400 , $10,886,734 6.7% ' ' $0 $0 $350,234 $11,236,968 6.8% SMID Cap Equity $22,234,261 13.8% $0 $0 $775,589 $23,009,850 13.9% EuroPacific Growth 86 $10,234,360 6.3% $500,000 $0 $705,645 $11,440,005 6.9% Harding Loevner Intl Equity $8;804,656 5.5% $500,000 . $0 $533,668 $9,838,324 6.0% Oppenheimer Intl Growth i $8,419,332 5.2% $500,000 $0 ' $489;877 $9,409,209 5.7% International Equity $27,458,348 17.0% $1,500,000 $0 $1,729,190 $30,687,538 18.6% Alliance Bernstein Fixed' $19,053,606 . 11.8% $103,131 ($608,750) $120,777 $18,668,764 11.3% Garcia Hamilton Fixed $19;423,642 12.0% $103,125 ($608,750) . $99,809 $19,017,826 11.5% - Fixed Income $38,477,248 23.8% '$206,256 '($1,217,500) $220,586 $31,686,590 22.8% JP Morgan RealEst Strategic Prop(Core) ' $14,465,622 9.0% ' $0 ($35,628) $248,683 $14,678,677 8.9% JP Morgan RealEst Special Sit.(Value Add) $7,962,198 4.9%. $0 ($31,315) $248,626 $8,179,509 ' 5.0% Real Estate $22,427,820 13.9%. ' $0 ' ($66,943) $497,309 $22,858,186 13.9% {_ Money Market(WF Money Mkt) $5,807 0.0% $0 $0 $127 $5,934 0.0% Cash ft Equiv. $5,807 0.0% $0 ' $0 $127 $5,934 0.0% Total Fund $161,405,415 1000/0 $1,912,446 ($4,001,997) $5,648,707 $164,964,571 100% Recerpts8Disbursements $524,547 $2,435,274 ($2,372,024) $0 $587,797 Total Fund + ROD $161,929,962 $4,347,720 ($6,374,021) $5,648,707 $165,552,368 ; . • For this report, all performance and asset allocation information for the Total Fund does not include the Receipts 0 Disbursements Account held at CenterState Bank of Florida. ■ The Money Market assets listed above are held in the Mutual fund ledger at Wells Fargo. ' 6 SOUTHEASTERN ADVISORY SERVICES, INC. .?` 4,',, Registered Investment Advisor %'-'.• ': VI. TOTAL FUND PERFORMANCE COMPARISONS Manager/Index/Universe Quarter 1 Year 3 Year 5 Year Total fund Gross of Fees 3.5% : 12.5% 8.5% 9.9% Total Fund-Net of Fees 3.5% . 12.3% 8.3% -9.7% Target Index . 3.7% 13.4% 8.0% 10.0% Wilshire Public Fund Ranking 39 48 6 14 _. Total Domestic Equities 4.5% 19.4% 11.7% 14.1% 80% Russell 1000/20%Russell 2500 4.5% 18.4% 10.6% 14.2% vs. Equity Returns of Public Funds 64 31 5 37 Total International Equities 6/0 93°...._ I 6.2 e ° .� MSCI EAFE index (Net) 5.4%0 18.5%_.._ ___. .....�..fo-.. ..._ ,. .. �3!a ; 19.1% . _. .7� . ° .4°1° vs. Intl Equity Returns of Public Funds 50 75 : 28 41 i Total Real Estate 2.2% 8.4% .- 10.4% 11.5% 1. NCREIF ODCE Index 1.9% 7.7% 10.8% 11.6% vs. Real Estate Returns of Total Funds 13 18 31 18 Total Fixed Income ... .,.... . .. 0.6 0° Y 0.3% 2.9% BbgBarc US Aggregate 0.8% . 2.7% . 2.1% vs. Fixed Inc Returns of Public Funds . 92 83 55 43 Current Policy Index: 35% Russell 1000 Index/ 10% Russell 2000 Index/ 20% BbgBarc US Aggregate/ 20% MSCI EAFE (Net)/15% NCREIF ODCE Index. Prior to 4015 35% Russell 1000 Index/ 10% Russell 2500 Index/ 25% BbgBarc US Aggregate/ 20% MSCI EAFE (Net)/10% NCREIF ODCE Index. Prior to 2Q11, Policy Index: 40% Russell 1000 Index/ 10% Russell 2500 Index/ 35% BbgBarc US Aggregate/ 15% MSCI EAFE (Net) For this report, all performance and asset allocation information for the Total Fund does not include the Receipts & Disbursements Account held at CenterState Bank of Florida. 7 SOUTHEASTERN ADVISORY SERVICES, INC. ' Registered Investment Advisor E- `w3;� Boynton Beach General Employees' Pension Cumulative Performance Comparison Total Returns of Total Fund Public Sponsors Periods Ending 9/17 16% 15% 12% t t ' "' -----'11y11I it r ''r, Y a , r V:;,;;:: r Q--�& ,,,':11:4,,,,, �g�.'w r t i 11% rn %Cki�K"_ g;� ',;,.'„,',;',,,',':',,;1;',:;!. / G = , 0, 10% " rJa f r �-�ryps � y 1 ^� .�Y � _a° 1:111r -err+5' .*-'� 1 Dr II 7/0 '''I'll '1 '1111 ® i " Imi, ms, -4a 3/ 0I q^I ," 200//00 % I _ _ Yi,' ,°tia "( 'ry lm %.,,',',,,,-,'..„:'.'e,,,:;,:,',,,,:',..,,:''‘,„;',,,,,.. :,',:',,,:::,';'!,'',,:,:'‘'4'.„ u9 r;^k° a1 p';r 1% 0.M M„" > r " �d 1. ( " "e ;, 40',,,';‘,',.^,',,/,,,,,,,,..;‘,„'",,, , "'" Last Last 2 Last 3 Last Last 2 Last 3 Last 4 Last 5 Last 6 Last 7 Qtr Qtrs Qtrs Year Years Years Years Years Years Years High 4.2 8.0 13.5 15.0 12.9 8.5 9.4 10.3 11.4 9.9 1st Qt 3.7 7.0 11.9 13.3 11.9 7.6 8.4 9.5 10.8 9.3 Median 3.4 6.5 10.9 12.4 11.1 7.1 7.9 8.7 10.0 8.6 3rd Qt 3.0 5.8 9.7 10.5 9.9 6.0 7.0 7.6 8.8 7.6 Low 2.0 3.8 6.2 5.0 6.5 4.2 4.9 4.8 5.8 5.1 T Total Fund Return 3.5 6.8 11.2 12.5 12.5 8.5 8.9 9.9 11.2 9.5 Rank 39 36 41 48 8 6 12 14 10 16 1 Target Index Return 3.7 6.9 11.4 13.4 12.0 8.0 8.6 10.0 11.4 9.9 Rank 25. 32 36 23 17 16 19 10 4 4 8 • • Boynton Beach General Employees' Pension Return vs Risk Total Returns of Total Fund Public Sponsors 3 Years Ending 9/30/17 11.0 a o ', ° aG' ' '.a '4:::'''',::''':','",:::'"::':::' . . , vns " ° p b .. ; t/ pr +, /✓rA9b ww" r ,' 10.0 r ✓ ld✓y ° v t ,'' °" a i( v n vir" ' y E n �' •°,G• •••, •! ✓iYa a ✓ 4,I d yr CC 8.0 �/ ••• •• • • •• a • '~pi : "q h " o, w` t ''• a • M1 ' +0:v."::••4 +•a u i .. e2 m 7.0 x,' t+ .i q; ww,, ,,,,•:,:": • • • ,. i,;::,,, M �!,• 4 "• r" V r+ 5 ! r -,Medl . •. �• • an, a�CC • • • •', • f3etUrn, • • �n Q 5.0 " rr �a'r wl 9/,Y a ^'u ''',,,:":::::':'/;"'::::o , ° a y °,r r°,,, " 4 •'4 + dj pkGY , a° ' ro v „✓ °,n8 i' ° !• y ,fir° /..,::':::,":',..:, ° ! ' r G m ,rj'':6::'''''.":.':';.‘ v:v ' 4. rl;:;:::::::,,,'::::::"I;;:;;:".•)";•:,• f`✓1 p Y � M ) � lVry ' �Jr ,,;/ 2.5 2.95 3.4 3.85 4.3 4.75 5.2 5.65 6.1 6.55 7.0 Historical Standard Deviation of Return Annualized Return Standard Deviation Value Rank Value Rank T Total Fund • 8.5 6 4.9 53 1 Target Index 8.0 16- 5.0 58 • Median 7,1 4.9 • • 5 Years Ending 9/30/17 12.5/ 11.7 ,,Y:!1:'",'":,„,:,`;',";.",'"';',,,:',7':.,:",.;:...'''... , � "' r , t'Vrp/ ',‘.:;,',.:4'.','''',:r::.4'/I.::'.',,';;;..,‘:',!:':',.( °° , , l /r ' G, � 1 �,� � Y " i ,d I° n ",4/ pi,'''''.''..'''''''''''''''..r/:'.'''.:',::a ,` d 'I` Y ✓ ✓�r x Yr +.9; , 1, r l (° ," c y py ° +! 1 ("✓ a �„ 11.0 t aµ i r✓" ° hklF°ln ae, 1 ." /w d4�• '"" ,'� Pa w', s i a "n ° rw `9k'nr r"" q N"�", E 10.2 ,( °`, ra • r „ 6 ''''e.; , '.*.i.'..';',' ✓„ •wl, ,, , ,:r •dd ''''''''":',":';';"",::::::::',",::':°:•','.' ••^, • • • jr ,'rw m m c adwAx • y i� • ::"''''''::,''':::,:("i,"':;',:'","`',...:',4;'..).: C7 yr 4 „r a ,,n,a ;,^�i, ac 9.5 r rk y,u l f^r • • •>• •' +• ,rs :a' / , m „:^,:!:e:::::,::,',:::,",;':',„:.r, , , t ' r " , •�'M4•r•7 •, •F ✓,' w a r ''s°fit M °;pnW ^ 1 ",a •, .,•".� qrr",'►,r r'tir 'i,,,;",".":,'''/',:,"'„:,,':,%:"':::,,;:,•,",,,"":,,:,,,,":" VGy w^° ! MMedian °' 8.0 "' J'*rw !H`, 1 :',;./..,::'::;.':'.:,uP ! xN ';';',::'./,:/.4i, ".,, • ,•i,G •,;.;;‘,,:,:',.i.,:.,,,,,,,,,,,":,:.,..,'‘'''',',.':.i';':::',";,:',!'.:','''' • °` rQ77 q '::;7''';'''...:'':'.:;1:::":'1.:5;':':','''.'..i',4'::',:' /Return rzN 7.2 '' P Y,a d t s ! ; 7 O✓� Y r+ d 1 'M /a /, r a r» i , 6.5 • Ir 2.5 3.0 3.5 4.0 4.5 5.0 5.5 6.0 6.5 7.0 7.5 Historical Standard Deviation of Return • Annualized Return Standard Deviation Value Rank Value Rank T Total Fund 9.9 14 5.2 56 1 Target Index 10.0 10 5.2 59 Median 8.7 5.1 9 VII. EQUITY MANAGER COMPARISON Manager/Index/Universe Quarter 1 Year 3 Year 5 Year DePrince Race Zollo 4.3% 20.4% 9.3% n/a . Russell 1000 4.5% 18.5% 10.6% n/a Russell 1000 Value 3.1% 15.1% 8.5% n/a vs. Large Value Equity Portfolios 39 32 61 n/a Clearbridge 5.6% 19.8% n/a n/a Russell 1000 Growth 5.9% 21.9% n/a n/a vs. Large Growth Equity Portfolios 37 61 n/a n/a '..:.: Atlanta Capital..___. ._.._.. :. 3.1%° 18.3%. 14.9% ._. . 16.3% ` ; Russell 2500 4.7% 17.8%. 14.9% 16.3% vs. SMID Cap Equity Portfolios 65 55 16 22 Mutual of America SfrP 400 : 3.2% 175% 11.0% 14.3% S&P 400 3.2% 17.5% 11.2% 14.4% vs. SMID Cap Equity Portfolios 79 . 63 66 58 Manager/Index/Universe Quarter 1 Year 3 Year 5 Year EuroPacific Growth R6 6.9% 20.6% 1.6% 9.5% MSCI EAFE (Net) 5.4% 19.1% 5.0% 8.4% vs. International Equity Mutual Funds 42 42 22 21 Hard MSCI'EAFE (Net) 5.4% oer Intl Equity 6 � 18.7°k 8.3% n/a. 19.1% 5.0% 8.4%. vs. International Equity Mutual Funds 56 62 16 n/a Oppenheimer ._. . .._. IntlGrowth _..._.__ .._.__ . _ 5.1% 15.8% 7.1% n/a MSCI EAFE (Net) 5.4% 19.1% 5.0% . n/a vs. International Equity Mutual Funds 60 80 . 26 n/a 10 SOUTHEASTERN ADVISORY SERVICES, INC. ! , Registered Investment Advisor ', , . Domestic Equity Portfolio Summary: Total Fund* Portfolio 80% R1000/20% R2500 Total Number Of Securities 507 - 3,466 Equity Market Value 73,261,438 Average Capitalization$(000) 106,310,240 125,910,534 Median Capitalization$(000) 4,723,608. Equity Segment Yield 2.0 1.8 Equity Segment P/E-Average 26.9 27.8 Equity Segment P/E-Median 21.5 Equity Segment Beta 1.1 1.0 Price/Book Ratio 3.1 2.7 Debt/Equity Ratio 63.5 66.1 Five Year Earnings Growth 3.6 5.7 Ten Largest Holdings Market Value %of Portfolio Quarterly Return .. _ Amazon Com Inc 1,159,388 1.9% -0.7% Schlumberger Ltd 1,054,353 1.7% 6.8% . United Parcel Servic 1,015,721 1.7% 9.4% Celgene Corp 913,854 1.5% 12.3% Coca Cola Co 903,216 1.5% 1.2% Microsoft Corp 887,548 1.5% 8.6% Cvs Corp 881,021 1.4% 1.7% Honeywell Intl Inc 836,266 1.4% 6.9% Visa Inc 824,555 1.3% 12.4% Alphabet Inc Cl-C 801,816 1.3% • 5.5% Ten Best Performers Quarterly Return Ten Worst Performers Quarterly Return Allegheny Technologi 40.5% Uniti Group Inc -39.3% Sanderson Farms Inc 39.9% Avon Prods Inc -38.7% Avis Budget Group 39.6% Dean Foods Co New -35.5% Take-Two Interactive 39.3% Dicks Sporting Goods -31.8% _• Kemper Corp Del 38.0% Frontier Communicati -29.1% Orbital Atk Inc 35.8% Mednax Inc -28.6% Diamond Offshore Dri 33.9% 3-D Sys Corp Del -28.4% Chemours Co 33.6% Nuvasive Inc -27.9% Hollyfrontier Corp 32.5% Chipotle Mexican Sri -26.0% Transocean Ltd Zug 30.7% Synaptics Inc -24.2% * Above statistics do not included holdings from mutual funds or commingled funds: EuroPacific Growth, Loevner Intl Equity, Oppenheimer Intl Growth, and Atlanta Capital. . , 11 SOUTHEASTERN ADVISORY SERVICES, INC. iii::"A Registered Investment Advisor b.......::.... ., ,___ Enuity Portfolio Characteristics 250% — 5.4x 200% — 3.0% 150% — 32.1x 22.7x $172.9B 1.1 1.1 2.4x 4 C 100% — U 1.0% 50% — $86.6B 0% I I I I I Dividend Yield P/E Ratio Avg.Market Cap. Beta Price/Book Ratio DRZ CLEAR —6—Russell 1000 112.0% — $5.3M 110.0% — x 108.0% — a) 106.0% — 0 N 104.0% — 102.0% — 29.Ox 1.6% 1.1 2.4x 100.0% — a. 98.0% — 96.0% — 94.0% I I I I I Dividend Yield P/E Ratio Avg. Market Cap. Beta Price/Book Ratio min Mut of America —6—S&P Midcap 400 12 SOUTHEASTERN ADVISORY SERVICES, INC. `y ' Registered Investment Advisor Equity Style Map (Current Quarter) I Large Cap 140 R1000V ' R 1000 Clearbridge 90 • ■ ' . R1000G,- " . DRZ Total Fund. 10 Mut of America 60 -110 R2000 ■ -160 -160 -110 -60 -10 40 90 140 Small Cap Growth-Value Size Growth-Value Size DePrince Race Zollo -115.6 72.5 Russell 1000 1.6 94.1 Clearbridge 88.2 •102.9 . Russell 1000 Value -65.5 86.9 Mutual of America 4.0 _ -17.5 Russell 1000 Growth 69.5 101.3 Total Fund -12.4 68.3 Russell 2000 18.3 -131.3 J � 13 SOUTHEASTERN ADVISORY SERVICES, INC. , Registered Investment Advisor .-'4' X4* Prepared by:Cooper Anderson . _ Release date 09-30-2017 I Note:Portions of the analysis are based on pre-inception returns.Please read disclosure for more information. - Page 1 of 13 American Funds EuropaClfl.0©G0Morningstar Analyst Rating'""Overall Morningstar Rating'"' Standard Index Category Index Morningstar Cat �d **** MSCI ACWI Ex MSCI ACWI Ex US Fund Foreign Large Growth R6 (USD) 10-02-2017 325 US Fund Foreign Large USA NR USD USA Growth NR Growth Growth USD ;Performance 09-30-2017 • i• hi i •• hi i H• I� H• I• ■■ ■■ ■■ Investments le _ ' ' QuarterlyReturns 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr TTotal% �� U . ��• �� Equity 93 84 87 93 92 91 90' 92 86 89 93 91 Stocks% 2015 5.97 1.12 -9.81 2.97 '-0.48 100k • -% 2016 -2.32 -0.32 8.23 -4.15 1.01 80k 80k Growth of$10,000 2017 9.37 7.69 6.86 - 25.85 - American Funds Europacific 40k Growth R6 Trailing Returns 1 Yr 3 Yr 5 Yr 10 Yr Incept 20,388 - Load-adj Mthly 20.63 7.56 9.51 - 10.48 --' Std 09-30-2017 20.63 - 9.51 - 10.48 s 2ok - 17,534ry Average --¢-- -., - M - Standard Index Total Return 20.63 7.56 9.51 3.60 10.48 ' 10k 16,882 +/-Std Index 1.02 2.86 2.53 2.33 - - • +/-Cat Index 2.96 1.13 1.64 1.71 - ...... ......... 4k %Rank Cat 22 31 27 ' 17 Ii ® l p li 7 l Performance. Perfoance Quartile F� (within category) No.in Cat 396 325 280 192 i _2008 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 09-17 ' History _ .. -._ 0000 1000 ... - .. ._, Subsidized Unsubsidized - - - 38.34 41.37 35.13 41.18 49.03 47.09 45.32 45.04 55.48 NAV/Price 7-day Yield - - 21.87 18.96 -40.53 39.35 9.76 -13.31 19.64 20.58 -2.29 -0.48 1.01 25.85 Total Retum 30-day SEC Yield 10-31-2017 1.04 1.04 _4.78 - 2.30 5.00 -2.10 -1.39 0.40 2.81 5.29 1.57 5.18 -3.48 4.72 +/-Standard Index Performance Disclosure -1.74 -2.07 5.09 0.68 -4.69 0.90 2.97 5.09 0.36 0.77 0.89 1.04 +/-Category Index ' The Overall Morningstar Rating is based on risk-adjusted returns, 27, 66 20 - %Rank Cat � derived from a weighted average of the three-,five,and 10-year (if applicable)Moreingstarmetrics. • 341 361 363 408 No.of Funds in Cat The performance data quoted represents past performance and •does not guarantee future results.The investment return and Portfolio Analysis 09-30-2017 Portfolio-. al .,_ .2 01..._ 1011.-... __..____.--_. _ _.-, principal value of an investment will fluctuate;thus an investor's Asset Allocation% Net% Long% Short% Share Chg Share Holdings: Net Assets , --' shares,when sold or redeemed,maybe worth more or less than Cash 2.54 2.54 0.00 since Amount 244 Total Stocks,18 Total Fixed-Income, %- 06-2017 36%Turnover Ratio • their original cost. US Stocks 1.36 1.36 0.00 Current performance may be lower or higher than return data Non-US Stocks 90.37 90.37 0.00 +0 - 2mil Samsung Electronics Co Ltd 3.01 quoted herein.For performance data current to the most recent Bonds - 1.13 1.13 0.00 0 23 mil Alibaba Group Holding Ltd ADR 2.76 month-end,please call 800-421-4225 or visit Other/Not Clsfd 4.59 4.59 0.00 54 mil British American Tobacco PLC - 2.34 1. ,' www.americanfunds.com. Total 100.00 100.00 0.00 446 mil AIA Group Ltd . 2.28 Fees and Expenses I O 428 mil Taiwan Semiconductor Manufacturing 2.12 S• ales Charges x.... ....._ �--�� Equity Style Portfolio Statistics Port Index Cat 101 mil HDFC Bank Ltd 1.93 Front-End Load% NA value Blend c.wnn P/E Ratio TTM 20.5 .1.22 0.94 65 mil Tencent Holdings Ltd 1.93 __ Deterred Load% NA a P/C Ratio TTM 8.9 1.03. 0.68 34 mil, SoftBank Group Corp 1.89 5, P/B Ratio TIM 2.3 1.33 0.81 29 mil Airbus SE 1.88 Fund Expenses y Geo Avg Mkt Cap 47884 1.37 1.30 Management Fees% - 0.42 = $mil O - 7 mil- Nintendo Co Ltd - ' . 1.77 12b1 Expense% NA . 204 mil Reliance Industries Ltd 1.68 Gross ExpenseRatio% 0.50 Fixed-Income Style14 mil-ASML Holding NV 1.60 .._. m Moa a Avg Eff Maturity i Risk and Return Profile 1 Avg Eff Duration - O 55 mil Sony Corp 1.42 0100 _, . 1100_ 3Yr 5Yr 10 Yr Avg Wtd Coupon - E 88 mil UniCredit SpA 1.30 325 funds 280 funds 192 funds a Avg Wtd Price - 76 mil Prudential PLC 1.25 ' - Morningstar Rating'M 4* 4* 4* Morningstar Risk -Avg -Avg -Avg Sector Wegmings Stocks% Rel Std Index - Morningstar Return +Avg +Avg +Avg CreditOualityBreakdown- Bond% If Cyclical . 38.5 0.84 ® Basic Materials 6.2 0.75 sur lour S A A _ 0 Consumer Cyclical 12.1 1.08 Standard Deviation 11.09.09 10.56 1755 A - Financial Services 18.8 0.82 Mean 7.56 9.51 3.60 0 Real Estate 1.4 0.42 Sharpe Ratio 0.68 0.90 0.27 BBB - BB - ew Sensitive 43.1 1.28 ' MPT Statistics Standard Index Best Fit Index B - ® Communication Services 4.7 1.06 MSCI ACWI Ex USA Below B - 0 Energy 5.8 0.86 Growth NR NA USD NR - Ell Industrials 10.3 0.94 Alpha 3.29 1.67 Beta 0.86 0.89Technology 22.3 1.93 Regional Exposure Stocks% Rel Std Index - - ---. R-Squared 89.74 . 92.37 Americas 7.8 0 73 - Defensive 18.4 0.90 12-Month Yield 1.60% Greater Europe 41.3 0.87 I;1 Consumer Defensive 9.5 0.97 Potential Cap Gains Exp 32.73% Greater Asia 50.9 1.22 © Healthcare 5.9 0.78 ® Utilities 3.1 0.99 Operations Family: - American Funds Base Currency: USD Purchase Constraints: • A --- Manager: Multiple Ticker: RERGX Incept: 05-01-2009 Tenure: 25.9 Years Minimum Initial Purchase: $250 Type: MF ' Objective: Foreign Stock Min Auto Investment Plan: $50 Total Assets: $159,117.95 mil ©2017 Morningstar.All Rights Reserved.Unless otherwise provided in a separate agreement,you may use this report only in the country in which its original distributor is based.The information,data,analyses and ^ tiM�Ar{�� opinions contained herein(1)include the confidential and proprietary information of Morningstar,(2)may include,or be derived from,account information provided by your financial advisor which cannot be verified by M\ /RNINGU IN 1 Morningstar,(31 may not be copied or redistributed,(4)do not constitute investment advice offered by Morningstar,15)are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and(Glare not warranted to be correct,complete or accurate.Except as otherwise required by law,Morningstar shall not be responsible for any trading decisions,damages or other losses resulting from,or related to,this , information,data,analyses or opinions or their use.Opinions expressed areas of the date written and are subject to change without notice.Investment research is produced and issued by subsidiaries of Morningstar,Inc. including,but not limited to,Morningstar Research Services LLC,registered with and governed by the U.S.Securities and Exchange Commission.This report is supplemental sales literature.If applicable it must be preceded or accompanied by a prospectus,or equivalent,and disclosure statement.Please see important disclosures at the end of this report. . 14 ' . . . Prepared by:Cooper Anderson • Release date 09-30-2017Page 2 of 13 , . • Harding Loevner Morningitar Analyst Rating"0 Overall Morningstar Rating°'0 Standard Index Category Index Morningstar Cat E14 Silver **** • MSCI ACWI Ex MSCI ACWI Ex US Fund Foreign Large International Eq Instl (USD) 03-31-2017 325 US Fund Foreign Large USA NR USD USA Growth NR Growth Growth USD `Performance 69-30-267 - --- - --.------------------- ------i 11 11 lib 11 lb ::: Thl Ns 4 4 Lb 4 Investment Style ,- Quarterly Returns 1st Qtr 2nd Qtr- 3rd Qtr 4th Qtr Total% 98 96 ; 97 98 94 96 96 96 97 96 97 96 Equity Stocks% 2015 5.18 0.05 -12.34 6.64 -1.62 100k 2016 0.70 2.90 6.43 -4.52 5.30 80k Growth of 510,000 • 60k 2017 9.98 6.63 5.98 - 2428 . •• Harding Loevner International 40k Eq Instl Trailing Returns 1 Yr 3 Yr 5 Yr 10 Yr Incept ' . 21,868 Load-adj Mthly 18.66 8.28 9.02 4.83 6.48 • 20k "-- Category Average ) . ___ Std 09-30-2017 18.66 - 9.02 4.83 6.48 ....„.0.... . •_ „....„__ . 17,534 . . . • x ... ‘'- .00. we,.r Standard Index Total Return 18.66 8.28 9.02 4.83 6.48 -': \• .s-''.t.Itt- . . 10k 16,882 : +/-Std Index -0.95 3.58 2.05 3.55 - . +/-Cat Index 0.99 1.85 1.15 2.94 - 4k L._, • %Rank Cat 41 20 41 1 - il' 1 "1 7 H 7 H 7 L.-1 7 11 71 . Performance Quartile (within category) • No.in Cat 396 325 280 192 , . 2006 2007 2008 2009 2010 2011• 2012 2013 2014 2015 2016 09-17 History ' Subsidized Unsubsidized 18.47 19.06 9.18 12.80 14.98 13.36 15.94 18.03 17.56 17.10 17.83 22.16 NAV/Price ' 7-day Yield - 23.01 13.01 -39.24 40.57 17.49 -9.78 20.28 14.02 -1.61 -1.62 5.30 24.28 . Total Return% • , • 30-day SEC Yield 1 - - .-3.64 -3.04 6.28 -0.68 6.34 3.93 3.45 -1.27 125 4.04 0.81 3.15 +/-Standard Index Performance Disclosure -0.60 -8.02 6.37 1.90 3.04 443 3.62 -1.47 1.04 -0.36 5.18 -0.53 +/-Category Index The Overall Morningstar Rating is based on risk-adjusted returns, . 58 73 3 27 22 31 24 77 24 83 - 2 - %Rank Cat _' derived from a weighted average of the three-,live-,and 10-year 243 220 251 266 261 251 250 278 341 361 363 408 No.of hinds in Cat (if applicable)Morningstar metrics. The performance data quoted represents past performance and ,-_-.- - , .._ rortfolio Analysis 09-30-2017 does not guarantee future results.The investment return and ,.., principal value of an investment will fluctuate;thus an investor's Asset Allocation% Net% on % Short% Share Chg Share Holdings: NetAssels . , shares,when sold or redeemed,may be worth more or less than Cash 4.08 4.09 0.01 since Amount 60 Total Stocks.31 Total Fixed-Income, - 06-2017 22%Turnover Ratio their original cost. US Stocks 4.10 4.10 . 0.00 Current performance may be lower or higher than return data Non-US Stocks 91.82 91.82 0.00 S 52 mil AIA Group Ltd " 3.82 quoted herein.For performance data current to the most recent Bonds 0.00 , 0.00 0,00 C) 4 mil Nestle SA ADR 3.79 month-end,please call 877-435-8105 or visit Other/Not CIsfd 0.00 0.00 0.00 (-) 3 mil Bayer AG 3.69 www.hardingloevnerfunds.com. 2 mil Allianz SE 3.34 1 oo.00 1 oo.co 0.01 @ 1 Fees and Expenses_ 8 3 mil Dassault Systemes SE 3.10 ...___ _.. ..,_ ...•..., Equity Style Portfolio Statistics Port tel tel Sales Charges Avg Index Cat t 1 mil Roche Holding AG Dividend Right Ce 3.04 Front-End Load% . NA Value Blend Groddll P/E Ratio TTM 22.6 1.35 1.04 ' c) 34 toil Banco Bilbao Vizcaya Argentaria SA . -2.89 c Deferred Load% NA 111 , P/C Ratio TTM 15.0 1.74 1.15 0, 1 mil Fanuc Corp . 2.84 1111 Er P/B Ratio TIM 2.7 1.56 0.94 () 10 mil Royal Dutch Shell PLC B 2.77 Fund Expenses Management Foes% IIIII. im.0 $mil„ Geo Avg Mkt Cap 54478 1.56 1A8 . @ 1 mil Baidu Inc ADR 2.62 0.70 12b1 Expense% . NA e 1 mil Naspers Ltd Class N 2.53 Gross Expense Ratio% 0.83 Fixed-Income Style - 9- - 1 mil L'Oreal SA ' -2.46 Ltd Mod to Avg Eff Maturity fRiak and Retarri,Erpfile _......., .... „.,..__ 1 IIIIIII N Avg Eft Duration . e 2 mil SAP SE ADR 2.33 - S 2 mil Air Liquide SA . 2.29 3 Yr 5 Yr 10 Yr ' Avg Wtd Coupon 325 funds 280 funds 192 funds IIIII 0 Avg Wtd Price - C) 3 mil Canadian National Railway Co 2.28 Morningstar Ratingtm 4* 3* 5* INN, Sector Weightings Stocks% Rel Std Index Morningstar Risk +Avg +Avg Avg -- Momingstar Return +Avg Avg High Credit Quality Breakdown.- BondS, It Cyclical 32.3 0.70 ' _ 13 Basic Materials' 7.0 I 0.83 3 Yr 5 Yr 10 Yr AM Consumer Cyclical 4.7 0.4Z A Standard Deviation - 12.45 11.87 18.35 __ IMI-Financial Services 20.0 0.87 Mean 8.28 9.02 4.83 _ p Real Estate 0.7 0.20 Sharpe Ratio 0.68 0.77 0.33 BBB BB - vo Sensitive . , • 44.4 1.32 MPT Statistics Standard Index Best Fit Index B - 11 Communication Services 0.0 0.00 MSCI ACWI Ex USA Below B• - ti Energy ' 5.6 0.86 Growth NR USD NR - D Industrials 12.7 • 1.15 Alpha 3.63 1.73 Beta 0.96 1.01 Regional Exposure Stocks% Rel Std Index I:1 Technology 26.1 2.26 Z.3.3- 1.14 R-Squared 88.36 -.. Defensive . 9331 Americas 10.5 0.99 12-Month Yield - Greater Europe 57.7 1.21 gi Consumer Defensive 7.9 0.80 Potential Cap Gains Exp 22.31% Greater Asia 31.7 0.76 a Healthcare . 15.4 2.05 u Utilities 0.0 0.00 ' . . _ Operations ' , . Family: Harding Loevner Base Currency: USD Incept: 05-11-1994- Manager: Multiple ' Ticker: - HLMIX Type: MF ' Tenure: 16.8 Years ' Minimum Initial Purchase: $100,000 Total,Assets: $11,973.97 mil . - Objective: Foreign Stock Purchase Constraints: - - . . ' _ . . ' . @2017 Memingstar,A11Rights Raierved.Unless otherwise provided in a separate agreement,you may use this report onlyin the country in which its original distributor is based.The information,data,analyses and _, opinions contained herein(1)include the confidential and proprietary information of Momingstar,12)may include,or be derived from,account information provided by your financial advisor which cannot be verified by MnRNINGSTAR. Morningstar,(SI may not he copied ur redistributed,(4)do not constitute investment advice offered by Morningstar,(Si are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and(6)are not warranted to ba correct,complete or accurate.Except as otherwise required by law,Morningstar shall not be responsible for any trading decisions,damages or other losses resulting horn,or related to,this . information,data,analyses or opinions or then use.Opinions expressed are as of the date written and are subject to change without notice.Investment research is produced and issued by subsidiaries of Morningstar,Inc. , including,but not limited to,Morningstar Research Services LLC,registered with and governed by the U.S.Securities and Exchange Commission.This report is supplemental sales literature,If applicable it must be preceded or accompanied by a prospectus,or equivalent,end disclosure statement.Please see important disclosures at the end of this report. 15 Prepared by:Cooper Anderson ',i_i Release date 09-30-2017 Page 4 of 13 Oppenheimer IIntern ati o n a l Morningstar Analyst Rating'"'Overall Morningstar Rating"' Standard Index Category Index Morningstar Cat j ', =i-Bronze **** MSCI ACWI Ex MSCI ACWI Ex US Fund Foreign Large Growth Y (USD) 06-28-2017 325 US Fund Foreign Large USA NR USD USA Growth NR Growth 1 Growth USD • I to o u u InvestmentSryle Perlorme0ce 09 30.2017 ■■■ Thl ■■■ ■■■ ■■■ TM �" ■■■ ■■■ o■ ■■■ Equity Quarterly Returns 1st Otf '2nd Qtr. 3rd Qtr 4th Qtr Total% 99 95 99 94 90 94 95 92 98 97 99 97 Stocks% . ' 2015 4.10. 2.63 -8,14 5.39 3,44 look - 2016 1.06 i -3.50. 6.11 -5.35 -2.06 ask Growth of$10,000 • 60k 2017'• 7.70 7.47 5.75 - .22.40- - - Oppenheimer International 40k Growth Y Trailing Returns 1 Yr 3 Yr 5 Yr 10 Yr Incept 22,595 Load-adj Mthly '15.85 7.06 9.05 4.08 7.4720k - Category Average Std 09-30-2017 15.85 - 9.05 4.08 7.47 s --. - 17,534 Total Return .15.85 7.06 9.05 4.08 7.47 `fes ^'\- 10k 16,882rd Index ( - __I +/-Std Index -3.76 2.35 2.08 2.80 - +/-CatIndex -1.83 0.63 1.18 2.19 - 14k %Rank Cat 73 43 40 6 Performance Quartile . . ® "i.■� I^1 n ® I ® I (within category) No.in Cat 396 325 280 192 2016 09-17 . History I t : 2006 2007 2008 2009 20111' 2011 2012 2013 2014 2015- ,, _„_- I Subsidized Unsubsidized 27.79 30.94 17.83 2443 27.90 25.52 30.71 38.16 35.08 35.89 34.66 42.45 NAV/Price 7-day Yield - - 30.18 12.93 -41.22 38.44 15.35 -7,31 22.10 25.46 -6.99 3.44 -2.06 22.40 Total Return% 30-day SEC Yield i - - 3.53 -3,73 4.30 :3.01 4.20 6.39 5.27. .10:17 -3.12 9.10 -6.55 1.27 +/-Standard Index Performance Disclosure 6.57 -6.10 4.39 -0.24 0.89 6.89 5.43 9.97 -4.34 4.69 -2.18 -2.41 +/-Category Index The Overall Morningstar Raring is based on risk-adjusted returns, 5 ' 74 10 36 33 13- 11 7 85 23 49 - .%Rank Cat " derived from a weighted average of the three-,five-,and 10 year 243 220 251 266 261 251 250 278 341 361 363 408 Ne.of Funds in Cat (if applicable)Morningstar metrics. The performance data quoted represents past performance and ______._._ _,.,.__-, -._._____- __ . alue of an investment will fluctuate;thus an investor's Asset Allocation �� does not guarantee future results.The investment return and . 'PorMolio Analysis 09-30-2017 cation% Net% Lang% Short% Share Cltg Share Holdings: Net Assets principal since Amount 89 Total Stocks,0 Total Fixed-Income, shares,when sold or redeemed,may be worth more or less than Cash 0.00 0.00 0.00 .08-2017 9%Turnover Ratio To their original cost. US Stocks 2.61 2.61 0.0026 mil Infineon Technologies AG 2.45 Current performance maybe lower or higher than return data. Non-US Stocks 95.20. 95.20 0.00 SAP SE. • I - quoted herein.For performance data current to the most recent Bonds . 0.00 . '0.00 0.00" 5 mil . . 2.12 • '1 month-end,please call 500-225-5577 or visit Other/Not 2.19 2,19 0.00' 7mil Valeo SA 1.89- __ w_ww.oppenheimerfunds.com. 10 mil Nippon Telegraph&Telephone Corp 1.82 Fees and Ex enses Total 100,00 100,00 0,00 882,842 Keyence Corp - -• Sales Charges Equ-rty Style Portfolio Statistics Port Rel Rel Value Mewl Sand Avg Index cat 2 mil Lonza Group Ltd 1.76. Front-End Load% NAc P/E Ratio TfM 23.2 1.38 1 07 2 mil Continental AG - 1.76 Deferred Load% NA ■ m P/C Ratio TTM 13.9 1.62 1.07 4 mil Temenos Group AG 1.66 ■■■o P/B Ratio TTM . 3.4 2.00 1.21 5 mil Reckitt Benckiser Group PLC • 1.64 Fund Expenses ■■■ Geo Avg Mkt Cap 21298 0.61 0.58 7 mil Hero MotoCorpLtd 1.63 • Management Fees% 0.65 tl $mil 12b1 Expense% NA 3 mil Atos SE Gross Expense Ratio% 8 Fixed-Income Style 3 mil Nidec Corp 1.59 P -. tm Mad ea Avg Elf Maturity •- 6mil Carnival Corp 1.56 ,Risk and Return Profile ■■■_ Avg Elf Duration - •- ro • S mil Halberts Industries NV 1.51 3Yr • 5Yr 10 Yr Avg Wtd Coupon - • 325 funds 280 funds 192 funds ■ a Avg Wtd Price - 9 mil Atlas Copco AB A 1.46 Morningstar Rating'M 3* 3* 5* 1.111111F • Morningstar Risk Avg +Avg -Avg Sector Weightings Stocks% Rel Std Index - MorningstarReturn Avg .Avg High CredieaualityBreakdown- Bond% b Cyclical . • • 33.5 0.73 . - m Basic Materials 5.7 • 0.68 3Yr 5Yr 10 Yr AAA - 0 Consumer Cyclical 23.3 2,06 - Standard Deviation 11,80 11.48 17.92 AA A _ c2 Financial Services 4.6 020 Mean ' 7.06 9.05 4.08• 0 Real Estate 0.0 0.00 -- Sharpe Ratio 0.61 _ 0.79 0.29 668 - BB - 'a,Sensitive 39.7, . .. 1.18 • MPT Statistics Standard index Best Fit Index B - ® Communication Services- 5.2 • 1.17 MSCI EAFE Growth Below B - 0 Energy ' 0.0. 0.00 NR USD NR - 0 Industrials 14.0i 127 , Alpha 2.75 0.91 • Beta 0.89 0.94El Technology 20.5 1.78 Regional Exposure Stocks%' Rel Std Index .R-Squared • 84.70 92,75 Americas 7.6 0.71 - Defensive' . 26.8 1.31 12-Month Yield - Greater Europe 74.8 1.57 m Consumer Defensive 15.4 - 1.5B -- Potential Cap Gains Exp 23.43% Greater Asia 17.7 0.42 © Healthcare 11.3 1.50 8 Utilities 0.0 0.00 - Operations Family: OppenheimerFunds Base Currency: USD Incept 09-07-2005' . .-- Manager: Multiple Ticker: OIGYX Type: •MF ' Tenure: • 21.7 Years Minimum Initial Purchase: $0 Total Assets: $26,603.69 mil 1 Objective: Foreign Stock Purchase Constraints: A • ' ©2017Morningstar,All Rights Reserved Ueless otherwise provided in a separate agreement,you may use this repon only in the country in which its orignal distributor is based.The information,data,analyses and N �tl�t lw opinions contained herein(1)include the confidential and proprietary information of Morningstar,(21 may include,or be derived from,account information provided by your financial advisor which cannot be verified by III�RNINGS1N 1` Morningstar,(31 may not he copied or redisuibuted,(4)do not constitute investment advice offered by Morningstar,15)are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and let are not warranted to be correct,complete or accurate.Except as otherwise required by law,Morningstar shall not be responsible for any outing decisions,damages or other losses resulting from,or related to,this information,data,analyses or opinions or their use.Opinions expressed are as of the date written and are subject to change without notice.Investment research is produced and issued by subsidiaries of Morningstar,Inc. ' i including,but not limited to,Momingstar Resea-ch Services LLC,registered with and governed by the U.S.Securities and Exchange Commission.This report is supplemental sales literature.If applicable it must be preceded or accompanied bye prospectus,or equivalent,and disclosure statement.Please see important disclosures at the end of this report. . . 16 VIII. REAL ESTATE PERFORMANCE COMPARISONS Manager/Index/Universe Quarter 1 Year 3 Year 5 Year JPMReal Estate SPF (Core) ' * ' 1.7% 7.6% ' 10.6% ' 11.7%. ' NCREIF ODE Index 1.9% 7.7% 10.8% 11.6% vs. Real Estate Portfolios 47 34 42 35 JPM Real Estate SSF* (Value Add) '-' , ' 31% 9.9% 14.4% n/a ,..._ NCREIF ODCE Index 1.9% 7.7% 10.8% n/a vs. Real Estate Portfolios 21 21 15 n/a *JPM Real Estate Strategic Properties inception:April 2,2014. Baron Real Estate Fund includes exposure to real estate through publicly traded companies. For the purposes of asset allocation,this fund is included as part of the real estate segment. IX. FIXED INCOME PERFORMANCE COMPARISONS Manager/Index/Universe Quarter 1 Year 3 Year 5 Year Alliance Bernstein-Fixed Income 014 - ----.6.1io -,- '1.2610 - "3.1% '2.4% - -1 BbgBarc-us Aggregate 0.8% 0.1% 2.7% 2.1% vs. Fixed Income Portfolios 76 49 49 58 OA'4bieitniiine On-ii - 7 -0. cY0 i ' 0A6/0 - 3.1% ' $.21/0 BbgBarc US Aggregate 0.8% 0.1% 2.7% 2.1% vs. Fixed Income Portfolios 85 75 51 40 Performance shown above for Bernstein and GHA is for Fixed Income Only,and does not include the performance of any cash held in those portfolios. Fixed Income Portfolio Characteristics 120% - . 5.9 6.2 93 9.0 100% • , 2.0% i ..ce 80% - - -- 1.4% 2.0 1.9 , . 0 ) 60% 1 l - °- 20% - , . _.. ) 0% . ' . .. , . Yield to Maturity Current Coupon Effective Duration Quality BM Bernstein r-- iGHA--4-BbgBarc Aggregate 17 „ SOUTHEASTERN ADVISORY SERVICES, INC. Registered Investment Advisor • X. POLICY COMPLIANCE - For Discussion Only A. Investment Guidelines: Total Fund Goal 1 Year 3 Years 5 Years Exceed Target Index V Rank Above 50th Percentile in Public Fund Universe Exceed 7.5%-7.0%Absolute Return Target Range V V Standard Deviation Relative to Target Index N/A Guideline Total Fund Equity securities limited to less than 75%of Total Fund @ market 62.9% Investment in foreign company stock limited to 25%of cost value of Total Fund 13.9% Equity securities with Market Cap < $3 billion limited to 20%of market value of Total Fund V Fixed Income portfolio average credit quality of"A"or better Fixed income portfolio duration should be less than 135%of the market index duration V < 2.5%of fixed income portfolio(at market)shall be invested in single corporate issuer V • • • 18SOUTHEASTERN ADVISORY SERVICES, INC. • Registered Investment Advisor B. Fund Performance Objective Exceed Exceed Exceed Risk vs. _ . Benchmark Benchmark Benchmark Benchmark Manager 3-Year 4-Year 5-Year 5-Year Clearbridge n/a n/a n/a n/a , DePrince,Race,and Zollo x x n/a n/a --- Atlanta Capital V V V Mutual of America S&P 400 x x x > EuroPacific Growth V V V — Harding Loevner Intl Equity V V n/a n/a Oppenheimer Intl Growth V V n/a n/a Alliance Bernstein Fixed V V V > . t '--' Garcia Hamilton Fixed V V V > JPM Real Estate Strategic Properties x x ,/ > • JPM Real Estate Special Situations V n/a n/a n/a , . Rank Above 50'" Rank Above 501" Rank Above 501' Percentile Percentile Percentile Manager 3-Year 4-Year 5-Year Clearbridge n/a n/a n/a DePrince,Race,and Zollo 61" 78th n/a Atlanta Capital V V V ' Mutual of America S&P 400 66th V 58th EuroPacific Growth V V V Harding Loevner Intl Equity V V n/a Oppenheimer Intl Growth .1 V n/a I Alliance Bernstein Fixed V V 58th Garcia Hamilton Fixed V V I JPM Real Estate Strategic Properties V V V JPM Real Estate Special Situations V n/a n/a . , . , 19 SOUTHEASTERN ADVISORY SERVICES, INC. Registered lvvestmeni Advisor ,......., , , • C. HISTORICAL EARNINGS ANALYSIS(Net of Fees) Fiscal Year Fiscal Year Earnings Fiscal Year Return 1992 . : $2,635,666 12.4% • - 1993 $3,062,820 11.9% 1994_ ($567,443) -1.9% 1995 $5,316,432 17.6% 1996 $4,320,516 12.0% 1997 $9,819,224 • 24.3% 1998 . $4,239,413 8.4% - 1999 $6,296,353 • 11.4% 2000 $5,844,369 9.8% 2001 . ($6,123,671) • -9.4% 2002 . ($3,744,638) -6.4% 2003 $7,923,854 14.4% 2004 $4,620,118 7.3% 2005 . $7,301,581 10.9% 2006 $5,446,508 • 7.4%. . 2007 $11,645,687 • 14.9% • 2008 ($13,013,710) -15.0% 2009 - . $379,643 0.6% 2010 .. $7,172,900 . 9.2% • _ . 2011 ($44,118) . -0.2% . 2012 . $16,184,331 17.9% , ' 2013 $14,621,956 • 13.6% 2014 $12,382,268 •10.0% 2015 $2,057,231 0.8% 2016 $16,874,891 , 12.5% FYTD 2017 : • $12,834,644 12.3% . . FY 1992-2017 $143.972047 7.7%*_ *Annualized,net of fees. All performance and gain/loss data prior to 102008 was provided by the previous consultant,Merrill Lynch Consulting. • • 20 SOUTHEASTERN ADVISORY SERVICES, INC. I :At" Registered Investment Advisor 5s!....:.7 c D. Manager Status r— Manager Status Effective Date • Alliance Bernstein Fixed Income Good Standing Garcia Hamilton Fixed Income Good Standing Clearbridge Good Standing . DePrince Race Zollo Under Review 2Q17 - Atlanta Capital Good Standing Mutual of America Good Standing EuroPacific Growth R6 Good Standing Harding Loevner International Equity Good Standing Oppenheimer International Growth Good Standing JPM Real Estate Strategic Properties Good Standing JPM Real Estate Special Situations Good Standing XI. NOTES 1) The prior investment consultant,Merrill Lynch.Consulting Services,provided all performance and market value data for periods prior to April 1,2008. 2) Investment Manger fees are not paid directly out of the Alliance Bernstein,Garcia Hamilton;DRZ, Mutual of America,and Atlanta Capital accounts,therefore those management fees are not included in the Net of Fee performance on page 6.. 3) Funds were transferred to Atlanta Capital and MOA S&P 400 on June 28,2012. 4) Initial investment in the Atlanta Capital commingled account is January 3,2011. 5) The inception date of Harding Loevner International Equity and Oppenheimer International Growth was March 21,2013. 6) Assets were transferred from Alliance Bernstein Equity to DePrince Race Zollo on March 18,2013. 7) The inception date of Baron Real Estate Fund is March 21,2014. 8) The inception of JPM Real Estate Special Situations:April 2,2014. 9) The inception of Clearbridge was on February 4,2015 • • r--.4 21 SOUTHEASTERN ADVISORY SERVICES, INC.. '` `°� Registered Investment Advisor t.:* 1.1 Prepared by:Cooper Anderson Release date 09-30-2017 Page 1 of 12 PIMCOInconie I nstl (USD) Morningstar Analyst Reline Overall Morningstar Rating' Standard Index Category Index Morningstar Cat z=Silver *-**** BBgBarc US Agg BBg0arc US US Fund Multisector_ 05-31-2017 246 US Fund Multisector Bond TR USD Universal TR USD Bond Bond Performance 09-30-2017 _ - -- ••• ••• ••• ••• ••• ••• ••• ••• '•• ••• ••• ••• Investment Style ■■■ ■ ■ one ■■■ ■■■ ■■■ was ■■■ ■■■ ■■■ ■■■ ■■■ Fixed-Income Quarterly Returns 1st Qtr 2nd Qh 3rd Qtr 4th Qtr Total% - 49 87 91 84 94 88 87 72 69 73 71 Bond% 2015 1.93 1.02 -0.85 0.53 2.64 100k 2016 1.78 2.44 2.84 139 8.72 snk SUMOGrowth of SUMO 2017 • 2.89 2.27 2.09 - 7.41 - PIMCO Income Intl 40k 24,991 Trailing Returns 1 Yr 3 Yr 5 Yr 10 Yr Incept - Category Average Load-adj Mthly 8.91 6.20 6.94 9.34 9.1120k 16,265 Std 09-30-2017 8.91 - 6.94 934 9.11 - - - Standard Index Total Return 8.91 6.20 6.94 9.34 9.11 - =7....--,,...;•-- 10k 15.547 +/-Std Index 8.83 3.48 4.88 5.07 - +/-Cat Index 7.94 3.08 4.41 4.78 ie. 4k %Rank Cat 5 6 1 1 Il iq ® ® ® 71 ® 711M1M p (h°ca e9 ryGuadile No.in Cat 325 246 197 111 - --. - I--I . . 1I -. .--.. .._ - 2006 .2007- 2008 2009 `-2010 2011 ,2012 :-2013 '2014 .2015 ',2016 ;'09-17 ----History _, • I,--- Subsidized Unsubsidized - 10.08 8.91 9.84 11.04 10.85 12.36 12.26 12.33 11-73 12.06 12A4 NAV/Price 7-day Yield - - - - -5.47 19.21 20A6 6.37 22.17 4.80 7.18 2.64 8-72 7.41 Total Return% 30-day SEC Yield - - - - -10.71 13.28 13.92 -t47 17.95 6.83 1.22 2.09 6.07 4.27 Al-Standard Index Performance Disclosure - - -7.85 10.60 13.29 -1.03 16.64 6.15 1.62 2.21 4.81 3.75 +/-Category Index The Overall Morningstar Dating is based on risk-adjusted returns - - 5 82 1 6 1 18 6 3 31 - %Rank Cat derived from a weighted average of the three;fire,and 10-year (if applicable)Momingstarmetrics. - - 215 242 268 250 283 308 276 304 299 328 No.of Funds in Cat The performance data quoted represents past performance and --- _ - - = ._w_,----,-_ 9 . sharesdoes ,whenofd anr investmentmemay be worth orinve than A�Allocation% Net% Lon % Short � -h a_e g olio Analysis 06-30-2017 o redee principal value o( will fluctuate;thus an investor's % Share Chg Share Holdings: Net Assets y -47.94 79.37 127.31 since Amount 15 Total Stocks,5,458 Total Fixed-Income, % their original cost. US Stocks 0.00 0.00 0.00 03-2017 190roTurnover flatio Current performance may be lower or higher than retum data Non-US Stocks 0.00 0.00 0.00 ' 10,620 ml) IRS USD 2.25000 12/20/17-5Y CME_Pay -12.01 quoted herein.For performance data current to the most recent Bonds 146.77 200.59 53.82 HE 8,000 mil CIRS USD 5.25Y MAT 2.28%7/2017 MY 8.97 month-end,please call 888.8.77-4626 or visit www.pimco.com_. Other/Not Clsfd 1.17 1.17 0.00 l 7.573 mil IRS JPY 0.45000 03/20/19-10Y LCH_P -8.54 Fees and Expenses, _ ,„ Total 100.00 281.14 181.14 * 5,704 mil IRS USD 2.2500012/20/17-5Y LCH_Pay -6.45 Sales Charges t 5,000 mil CIRS USD 533Y MAT 2.30%8/2017 MY 5.61 NA Equity Style Portfolio Statistics PortvIndex Rel if 5,000 mil CIRS USD 5.33Y MAT 230%8/2017 MY 5.61 Front-End Load% vaue awe naw, ° Deferred Load% NA - , P/E Ratio TTM - - - 0 5,000 mil CIRS USD 5.25Y MAT 2.10%9/2017 MY 5.60 P/C Ratio TTM - 0 5,000 mil CIRS USD 5.25Y MAT 2.08%9/2017 MY 5.60 Fund Expenses = P/B Ratio TTM - - - Management Fees% 0.50 a Geo Avg Mkt Cap - - - 0' 5,000 mil CIRS USD 525Y MAT 2.07%9/2017 MY 5.59 12b1 Expense% t Smil 0 3,868 mil IRS USD 2.50000 12/20/17-10Y LCH_P -4.40 Gross Expense Ratio% D. HE 3,475 mil IRS USD 2.25000 12/20/17-3Y CME Pay -3.94 _._..- , Axed-Income Risk_and Return Profile , _. Avg Eff Maturity 6.07• 2,874 mil US Treasury Note 225% 3.25 3 Yr 5 Yr 10 Yr 3 Avg Eff Duration Y-13 ' 2,900 mil IRS USD 1.43500 06/21/16-8Y CME Re 3.10 246 funds 197 funds 111 funds ' Avg Wtd Coupon - 2,520 mil Cdx Hy25 5y Ice 3.03 Momingstar Rating'"' 5* 5* 5* E Avg Wtd Price - p+ 2,436 mil IRS AUD 4.00000 03/15/13-10?CME_R 2.94 Momingstar Risk -Avg Avg -Avg Momingstar Return High High High Sector Weightings Stocks% Hal Std Index Credit Quality Breakdown- Bond% Cyclical - - 3Y 5Y 10 Yr - ® Basic Materials - - Standard Deviation 2.42 3.08 4.70 MA - c2 Consumer Cyclical - - AA Mean 6.20 6.94 9:34 A - ® Financial Services - - Sharpe Ratio 2.38 2.13 1.83 BBB - 0 Real Estate - - MPT Statistics Standard Index Best Fit Index BB - v' Sensitive - - BofAMLUSITY B - ® Communication Services - - Master II TR USD Below B - 0 Energy - - Alpha 5.36 3.83 NR - - a Industrials - - Beta 0.15 0.34 0 Technology - - R-Squared 3.02 68.05 Regional Exposure Stocks% Rel Std Index 12-Month Yield - Americas - - Defensive •- - Potential Cap Gains Exp 3.03% Greater Europe - - ® Consumer Defensive - - Greater Asia - - 0 Healthcare - - ® Utilities - - Operations Family: Pimco Base Currency: USD Incept: 03-30-2007 Manager: MultipleTicker. M Type: MF Tenure: 10.7 Years Minimum Initial Purchas : $1 mil Total Assets: $102,487.62 mil Objective: Multisector Bond Purchase Constraints: 02017 Morningstar-All Rights Reserved.Unless otherwise provided in a separate agreement,you may use this report only in the country in which its original distributor is based,The information,data.analyses and opinions contained herein(1)include the confidential and proprietary infarmation of Morningstar.(21 may include.or be derived from,account information provided by your financial adwsor which cannot be verified by M\ /RNIN6ST1111 Morningstar,(3)may not be copied or redistributed,141 do not constitute investment advice offered by Morningstar,(5)are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and 161 are not warranted to be correct,complete or accurate.Except as otherwise required by law.Morningstar shall not be responsible for any trading decisions,damages or other losses resulting from,or related to.this information,data,analyses or opinions or their use.Opinions expressed areas of the date written and are subject to change without notice.Investment research is produced and issued by subsidiaries of Morningstar.Inc. including,but not limited to,Morningstar Research Services LLC.registered with and governed by the U.S.Securities and Exchange Commission This report is supplemental sales literature.If applicable it must he preceded or accompanied by a prospectus,or equivalent,and disclosure statement.Please see important disclosures at the end of this report Prepared by:Cooper Anderson Release date 09-30-2017 Page 1 of 12 P1MCOIncome Instl (USD) Morningstar Analyst Rating'Overall Morningstar RatingT'° Standard Index Category Index Morningstar Cat O.Silver ***** BBgBarc US Agg BBgBarc US US Fund Multisector. 05-31-2017 246 US Fund Multisector Bond TR USD Universal TR USD Bond_ - Bond Performance,09-302017:., •-:,-,.:r`:' P. , ■■■ u■ ■u ■r.■ ■ u■ ■u ■u u■ u■ u■ ■u Investments e ' Quarterly Returns ts[-- 2nd OV 3rd- ,,--":.._----' ■■■ ■•■ .■■ ■ ■ ■■■ ■■■ o■ u■ u■ o■ o■ ■u . _ .- .. ., ..- ■■■ r■ ■■■ ■■■ ■■■ ■■■ ■■■ ••• ••• ■■■ ■■■ ■■■ Fixed-income CM 4th 09 Total% - 49 B7 91 84 94 88 87 72 69 73 71 Bond% - 2015 1.93 1.02 -0.85 0.53 2.64 100k 2016 1.78 2.44 2.84 1.39 8w.72 80k Growth of$10,100 60 2017 2.89 2.27 2.09 - 7.41 - PIMCO Income Inst) 40k 24.991 Trailing Returns 1 Yr 3Yr 5Yr 10 Yr Incept - Category Average Load-adj Mthly 8.91 6.20 6.94 9.34 9.11 - --_ 20k 16,265 Std 09-30-2017 8.91 - 6.94 9.34 9.11 _„...�- - . --- - Standard Index Total Return 8.91 6.20 6.94 9.34 9.11 t0k 15,547 +/-Std Index 8.83 3.48 4.88 5.07 - +/-Cat Index 7.94 3.08 4.41 4.78 4k %Rank Cat 5 6 1 1 R R ® ® 7117 ® ®i hp 11 (eedm a ccoeryfuarhle No.in Cat 325 246 197 111 �.._ f-�_ --I _ - am: = .,..._ .. 2006 .:21107 2098 2(x19," 2010 :2011,,,12012 2013 :2014 2015 2016-'0917 -- "history' Subsidized Unsubsidized - 10.08 8.91 9.84 11.04 10.85 12.36 12.26 12.33 11.73 12.06 12.44 NAV/Price 7-day Yield - - - -5.47 19.21 20.46 6.37 22.17 4.80 7.18 2.64 8.72 7.41 Total Return% 30-day SEC Yield - - - - -10.71 13.28 13.92 -1.47 17.95 6.83 1.22 2.09 6.07 4.27 +/-Standard Index Performance Disclosure - - -7.85 10.60 13.29 -1.03 16.64 6.15 1.62 221 4.81 3.75 +/-Category Index The Overall Momingstar Rating is based on risk-adjusted returns - - 5 82 1 6 1 18 6 3 31 - %Rank Cat derived from a weighted average of the three-,five-,and 10-year (if applicable)Momingstarrnetrics. - - 215 242 268 250 I 283 308 276 304 299 328 No.of Funds in Cat The performance data quoted represents past performance and - -- r does not guarantee future results.The investment return and Portfolio Analysis 06 30 2017 - _ _ principal value of an investment will fluctuate;thus an investor's Asset Allocation% Net% Long% Short% Share Chg Share Holdings: Net Assets shares,when sold or redeemed,maybe worth more or less than Cash -47.94 79.37 127.31 since Amount 15 Total Stocks,5,458 Total Fixed-Income, % their original cost US Stocks 0.00 0.00 0.00 03-2017 190%Turnover Ratio Current performance may be lower or higher than return data Non-US Stocks 0.00 0.00 0.00 ' 10,620 mil IRS USD 2.25000 12/20/17-5Y CME_Pay -12.01 quoted herein.For performance data current to the most recent Bonds 146.77 200.59 53.82 „'f 8,000 mil CIRS USD 5.25Y MAT 2.28%7/2017 MY 8.97 month-end,please call 888-877-4626 or visit www.pimco.com. Other/Not Clsfd 1.17 1.17 0.00 O+ 7,573 mil IRS JPY 0.45000 03/20/19.10Y LCH_P -8.54 Fees and Expenses, ... „- 1,_ , 1 Total 100.00 281.14 181.14 It 5,704 mil IRS USD 2.2500012/20/17-5Y LCH_Pay -6,45 sales charges E 5,000 mil CIRS USD 5.33Y MAT 2.30%8/2017 MY 5.61 Front-End Load NA Equity Style Portfolio Statistics Avg Index tel * 5,000 mil CIRS USD 5.33Y MAT 2.30%8/2017 MY 5.61 Value tiled Swab Deferred Load% NA , P/E Ratio TTM - - - * 5,000 mil CIRS USD 5.25Y MAT 210%9/2017 MY 5.60 P/C Ratio TTM - - - -t 5,000 mil CIRS USD 5.25Y MAT 2-08%9/2017 MY 5.60 Fund Expenses � P/B Ratio TIM - - - Management Fees% 0.50 a Geo Avg Mkt Cap - - - *" 5,000 mil CIRS USI)5.25Y MAT 2.07%9/2017 MY 5.59 12h1 Expense% me i stmt v 3,868 mil IRS USD 2.5000012/20/17-10Y LCH_P -4.40 Gross Expense Ratio% (0.5 > * 3,475 mil IRS USD 2.25000 12/20/17-3Y CME_Pay -3.94 Fixed-lncome Style 2,874 mil US Treasury Note 2.25% 3.25 :Risk and Return'Profile_ ,;; :,f, ' - : ' , i. ' a e Avg Eff Maturity 6-07 2,900 mil IRS USD 1.43500 06/21/16 BY CME Re 3.10 3Y 5Y 10 Yr 3 Avg Eff Duration 2.13 246 funds 197 funds 111 funds ' Avg Wtd Coupon - 2,520 mil Cdx Hy25 5y Ice 3.03 Momingstar Rating'"' 5* 5* 5* a Avg Wtd Price - 0 2,436 mil IRS AUD 4.00000 03/15/13-10Y CME_R 2.94 Momingstar Risk -Avg Avg -Avg Morningstar Return High High High sector Weightings Stocks% Rel SW Index Credit Quality Breakdown- Bond Cyclical - - 3Y 5Y 10 Yr - ® Basic Materials - - Standard Deviation 2.42 3.08 4.70 AAA AA - El Consumer Cyclical - - Mean 6.20 6.94 9:34 A - ® Financial Services - - Sharpe Ratio 2.38 2.13 1.83 888 - 0 Real Estate - - MPT Statistics Standard Index Best Fit Index BB - w Sensitive - - BofAMLUS HY B - ® Communication Services - - Master llTHUSD Below B - 0 Energy - - Alpha 3.83 NR 0:15 • - El Industrials - - Beta 0.15 034 Technology - - R-Squared 3.02 68.05 Regional Exposure Stocks% Het SW Index • 12-Month Yield - Americas - - Defensive - - Potential Cap Gains Exp 3.03% Greater Europe - - ® Consumer Defensive - - Greater Asia - - ® Healthcare - - ® Utilities - - • Operations Family: Pimco Base Currency: USD Incept 03-30-2007 Manager. Multiple ti� Ticker. __M Type: MF Tenure: 10.7 Years Minimum Initial Purchase $1 mil Total Assets: $102,487.62 mil Objective: Multisector Bond Purchase Constraints: 02017 Momingstar.All Rights Reserved Unless otherwise provided in a separate agreement,you nay use this report only in the country in which its original distributor is based The information.data,analyses and ^�l� ry��n opinions contained herein(1)include the confidential and proprietary information of Mamingsrar,12i may include,or be derived from,account information provided by your financial advisor which cannot be verified by M/ pFlllflNGtilllrt Morningstar.(31 may not becopied orredistributed,(4)donot constitute investment advice offered byMamingstar,(5)areprovidedsolelyforinformationalpurposesandthereforearenetanoffertobuyersellasecurity, It1` ,1100��'!lIUUUU rill!!(( and(6)are not warranted robe correct,complete or accurate.Except as otherwise required by law,Momingstar shall not he responsible for any trading decisions.damages or other losses resulting horn,or related to.this information,data,analyses or opinions or their use.Opinions expressed are as of the date written and are subject to change without notice.Investment research is produced and issued by subsidiaries of Momingstar,Inc. including,but not limited to.Morningstar Research Services LW,registered with and governed by the U.S.Securities and Exchange Commission.This report is supplemental sales literature.If applicable it must be preceded or accompanied by a prospectus,or equivalent,and disclosure statement Please see important disclosures at the end of this report. Prepared by:Cooper Anderson Release date 09-30-2017 Page 1 of 12 P1141COIncome Inst) (USD) Morningstar Analyst Rating'Overall Morningstar Rating' Standard Index Category Index Morningstar Cat Silver *** BBgBarc US Agg BBgBarc US US Fund Multisector_ 05-31-2017 246 US Fund Multisector Bond TR USD Universal TR USD Bond Bond ^ iii iii woo MINN iii iii iii MEM EMM iii MEN NEM Investment Style . • PBrfOrrn80C@ 09-30-2017`y L.- `;;k.,.- ". .-:'a ■■■ U . RIM ■■■ ■■■ ■■■ ■■■ ■■■ ■■■ ■■■ MEM Find-Income Quarterly Returns 1st oh 2nd Qu 3rd Qtr 4th Qtr Total% - 49 87 91 84 94 88 87 72 69 73 71 Bond% - 2015 1.93 1.02 -0.85 0.53 2.64 look _ . 2016 1.78 2.44 2.84 1.39 8.72 60k Growth of$10,000 2017 2.139 2.27 2.09 - 7.41 - PIMCO Income Inst) • 40k 24,991 Trailing Returns 1 Yr 3 Yr 5 Yr 10 Yr Incept - Category Average Load-adj Mthly 8.91 6.20 6.94 9.34 9.11 20k 16,265 Std 09-30-2017 8.91 - 6.94 9.34 9.11 ._ - Standard Index Total Retum 8.91 6.20 6.94 9.34 9.11 - 10k 15,547 +/-Std Index 8.83 3.48 4.88 5.07 - +/-Cat Index 7.94 3.08 441 4.78 .e.„ 4k - %Rank Cat 5 6 1 1 q 1q ® M r1 ^ r0, ® 1 ® peifona adila No.in Cat 325 246 197 111 :: - --,- -F=._I, .1.,... -1--I F 2006 2007 -201 2009 2010 '`2011 „"2012 - 2013 --2014.,-2015 2016 It917 History Subsidized Unsubsidized - 10.08 8.91 9.84 11.04 10.85 12.36 12.26 12.33 11.73 12.06 12A4 NAV/Price 7-day Yield - - - - -5.47 19.21 20.46 6.37 22.17 4.80 7.18 2.64 8.72 7.41 Total Return% 30-day SEC Yield - - - - -10.71 13.28 13.92 -1.47 17.95 6.83 1.22 2.09 6.07 4.27 +/-Standard Index Performance Disclosure - - -7.85 10.60 13.29 -1.03 16.64 6.15 1.62 2.21 4.81 3.75 +/-Category Index The Overall Morningstar Rating is based on risk-adjusted returns - - 5 -82 1 6 1 18 6 3 31 - %Rank Cat derived from a weighted average of the three-,five-,and 10-year (if applicable)Morningstar metrirs. - - 215 242 268 250 283 308 276 304 299 328 No.of Funds in Cat The performance data quoted represents past performance and Portfolio Anal is 176 30 does not guarantee future results The investment return and principal value of an investment will fluctuate;thus an investor's Asset Allocation% Net% Long% Short% Share Chg Share Holdings Net Assets shares,when sold or redeemed,may be worth more or less than Cash -47.94 79.37 127,31 since Amount 15 Total Stacks,5,458 Total Fixed-Income, % their original cost US Stocks 0.00 0.00 0.00 03-2017 190%Turnover flatio Current performance maybe lower or higher than return data Non-US Stocks 0.00 o.00 0.00 0 10,620 mil IRS USD 2.2500012/20/17-5Y CME_Pay -12.01 quoted herein.For performance data current to the most recent Bonds 146.77 200.59 53.82 tE 8,000 mil CIRS USD 5.25Y MAT 2.28%7/2017 MY 8.97 month-end,please call 888_-877-4626o r visit www.pimco.com. Other/Not Clsfd 1.17 1.17 0.00 Q+ 7,573 mil IRS JPY0.4500003/20/19-t0YLCH_P -8.54 Fees and Expenses: „_;, _a , Total 100.00 281.14 181.14 * 5,704 mil IRS USD 2.2500012/20/17-5Y LCH_Pay -6.45 Sales Charges }"E 5,000 mil CIRS USD 5.33Y MAT 2.30%B/2017 MY 5.61 Front-End Load% NA Equity Style Portfolio Statistics Avg Index Rel i 5,000 mil CIRS USD 5.33Y MAT 2.30%8/2017 MY 5.61 vas a`° Frawil P/ERatiolTM Deferred Load% NA - - - -0 5,000 mil CIRS USD 515Y MAT 2.10%9/2017 MY 5.60 P/C Ratio TTM - - - * 5,000 mil CIRS USD 525Y MAT 2.08%9/2017 MY 5.60 Fund Expenses E. P/B Ratio TTM - - - tE- 5,000 mil CIRS USD 5.25Y MAT 2.07%9/2017 MY 5.59 Management Fees% 0.50 F Geo g Mkt Cap - - - of 3,858 mil IRS USD 2.5000012/20/17-10Y LCH_P -4.40 12b1 Expense% Gross Expense Ratio% 0.53 "E 3,475 mil IRS USD 2.25000 12/20/17-3Y CME_Pay -3.94 Hued-Income style 2,874 mil US Treasury Note 215% 3.25 Risk and Return Profile_ , ,_... --;_,.. ,ad Mod en Avg Eff Maturity 6.07 2,900 mil IRS USD 1A3500 06/21/16-8Y CME Re 3.10 3Y 5Y 10 Yr 3 Avg Eff Duration 2.13 "f 246 funds 197 funds 111 funds '- Avg Wtd Coupon - 2,520 mil Cdx Hy25 5y Ice 3.03 Morningstar Ratinge" 5* 5* 5* E Avg Wtd Price - 10 2,436 mil IRS AUD 4.00000 03/15/13-10Y CME_R 2.94 Momingstar Risk -Avg Avg -Avg Sector Weightings Stocks% Rel Sm Index Momingstar Return High High Highgo Credit Duality Breakdown- Bond% Cyclical - - 3Yr 5Yr tour - ® Basic Materials - - AAA Standard Deviation 2.42 3.08 4.70 - it Consumer Cyclical - - AA Mean 6.20 6.94 9:34 A - ® Financial Services - - Sharpe Ratio 2.38 2.13 1.83 BBB - 0 Real Estate - - MPT Statistics Standard Index Best Fit Index BB - vg Sensitive - - BofAMLUSITY B - ® Communication Services - - Master II TR USD Below B - ] Energy - - Alpha 5.36 3.83 NR - - 0 Industrials - - Beta 0.15 0.34 0 Technology - - R-Squared 3.02 68.05 Regional Exposure Stocks% Rel Std Index 12-Month Yield - Americas - - Defensive - - Potential Cap Gains Exp 3.03% Greater Europe - - ® Consumer Defensive - - Greater Asia - - ® Healthcare - - ®.Utilities - - • Operations Family: Pimco Base Currency: USD Incept 03-30-2007 Manager. MultipleTicker. P L Type: MF Tenure: 10.7 Years Minimum Initial Purchas• Total Assets: $102,487.62 mil Objective: Multisector Bond Purchase Constraints: • 02017 Momingstar.All Rights Reserved.Unless otherwise provided in a separate agreement you may use this report only in the country in which its original distributor is based.The information.data,analyses and opinions contained herein 11 l include the confidential and proprietary information of Momingstar,lel may include.or be derived horn,account information provided try your financial advisor which cannot be verified by MnRNIN6�tiyU IRR'y�pg t Morningstar.(31 may not he copied or redistributed,141do not constitute investment advice offered by Morningstar.(51 are provided solely for informational purposes and therefore are not an offer to buy or sell a security, and 161 are not warranted to be correct complete or accurate.Except as otherwise required by law,Morningstar shall not be responsible for my trading decisions,damages or other losses resulting from,or related to.this information,data,analyses or opinions or their use.Opinions expressed are as of the date wntten and are subject to change without notice.Investment research is produced and issued by subsidiaries of Moringstar.Inc. including,but not limited to,Morningstar Research Services LLC.registered with and governed by the U.S.Securities and Exchange Commission.This report is supplemental sales literature.It applicable it must be preceded or accompanied by a prospectus,or equivalent,and disclosure statement Please see important disclosures at the end of this report. Kerry Dutton From: TEXASCSC@wellsfargo.com Sent: Tuesday, November 14, 2017 1:37 PM To: Kerry Dutton Cc: Patricia DeRario;Albert Fadraga Subject: Re: Boynton Beach General Wire to Wells Fargo Follow Up Flag: Follow up Flag Status: Completed Hi Kerry, The deposits and buys have been submitted for processing. Thank you, Kim Bollier Client Service Consultant Wells Fargo Institutional Retirement and Trust Texas Service Center MAC T9914-010 P 0 Box 2577 Waco,TX 76702-2577 254-761-6957 Direct Line 888-848-5011 Fax Email Texascsc@wellsfargo.com How am I doing? Please contact my manager india.l.jones@wellsfargo.com with any feedback. Internal Wells Fargo Team Members please click on the link: http://pcsapps.wellsfargo.com/PCSRS/index.do P Please consider the environment before printing this email. This electronic mail message contains information from Wells Fargo Bank,which is confidential and privileged information. If you are not the intended recipient, please be aware that any disclosure, photocopying,distribution or use of the contents of the received information is prohibited. If you have received this e-mail in error, please reply to the sender immediately and permanently delete this message and all copies of it. If you no longer wish to receive these e- mails, please notify the sender.Thank you. Recognize team members who provide excellent service with a BEST SHOT AWARD! Original Message From: Kerry Dutton [mailto:kerry@resourcecenters.com] Sent:Tuesday, November 14,2017 11:49 AM To:TEXASCSC Cc: Patricia DeRario;Albert Fadraga Subject: Kim (nsk) Re: Boynton Beach General Wire to Wells Fargo Kim, Yes it is ok to process today. I listed the 11/15/17 to ensure we had enough time to complete the wire to Wells Fargo. Thank you, 'Kerry Dutton Resource Centers, LLC 4360 Northlake Blvd,Suite 206, Palm Beach Gardens, FL 33410<x-apple-data-detectors://6> I Direct 561.459.2964<te1:561.459.2964> I Office 561.624.3277<te1:561.624.3277> I Fax 561.624.3278<te1:561.624.3278> Kerry@ resourcecenters.com<mailto:Kerry@resourcecenters.com> I Please visit: http://www.resourcecenters.com/ NOTICE OF CONFIDENTIALITY: This transmission contains information that may be confidential and that may also be privileged. Unless you are the intended recipient of the message(or authorized to receive it for the intended recipient), you may not copy,forward,or otherwise use it,or disclose its contents to anyone else. If you have received this transmission in error, please notify us immediately and delete it from your system. Please keep in mind that any communication sent to our office may become public record by way of the client being referenced. IRS CIRCULAR 230 NOTICE:To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. P Please consider the environment before printing this e-mail. This communication is intended solely for the addressee and is confidential. If you are not the intended recipient,any disclosure,copying,distribution or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful. Unless indicated to the contrary: it does not constitute professional advice or opinions upon which reliance may be made by the addressee or any other party,and it should be considered to be a work in progress. ****************************************************************** On Nov 14, 2017,at 12:45 PM, "TEXASCSC@wellsfargo.com<mailto:TEXASCSC@wellsfargo.com>" <TEXASCSC@wellsfargo.com<mailto:TEXASCSC@wellsfargo.com>>wrote: Hello Patricia, The forms are dated for 11/15/17, is it ok to process the deposits and buys today? Please advise. Thank you, Kim Bollier Client Service Consultant Wells Fargo Institutional Retirement and Trust Texas Service Center MAC T9914-010 P 0 Box 2577 Waco,TX 76702-2577 254-761-6957 Direct Line 888-848-5011 Fax Email Texascsc@wellsfargo.com<mailto:Texascsc@wellsfargo.com> How am I doing? Please contact my manager India.l.jones@wellsfargo.com<mailto:india.l.jones@wellsfargo.com>with any feedback. Internal Wells Fargo Team Members please click on the link: http://pcsapps.wellsfargo.com/PCSRS/index.do P Please consider the environment before printing this email. This electronic mail message contains information from Wells Fargo Bank,which is confidential and privileged information. If you are not the intended recipient, please be aware that any disclosure, photocopying,distribution or use of the contents of the received information is prohibited. If you have received this e-mail in error, please reply to the sender immediately and permanently delete this message and all copies of it. If you no longer wish to receive these e- mails, please notify the sender.Thank you. 2 Recognize team members who provide excellent service with a BEST SHOT AWARD!<http://pcsapps.wellsfargo.com/PCSRS/> From: Patricia DeRario [mailto:patricia@resourcecenters.com] Sent:Tuesday, November 14, 2017 10:53 AM To:TEXASCSC Cc: Kerry Dutton;Albert Fadraga Subject: Boynton Beach General Wire to Wells Fargo Importance: High Kim, Attached please find a copy of my wire coversheet regarding the$4 Million transfer. Also attached are the 2 IRT forms advising where the money should be applied and what to'buy'. If you have any questions, please feel free to contact me or Kerry Dutton. Thank you, Patricia DeRario Benefit Payment Administrator Resource Centers, LLC 4360 Northlake Blvd,Suite 206, Palm Beach Gardens, FL 33410 I Direct 561.459.2965 I Office 561.624.3277 I Fax 561.624.3278 Patricia@resourcecenters.com<mailto:Patricia@resourcecenters.com> I Please visit: http://www.resourcecenters.com/<blocked::http://www.resourcecenters.com/> NOTICE OF CONFIDENTIALITY: This transmission contains information that may be confidential and that may also be privileged. Unless you are the intended recipient of the message(or authorized to receive it for the intended recipient), you may not copy,forward,or otherwise use it,or disclose its contents to anyone else. If you have received this transmission in error, please notify us immediately and delete it from your system. Please keep in mind that any communication sent to our office may become public record by way of the client being referenced. IRS CIRCULAR 230 NOTICE:To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law. P Please consider the environment before printing this e-mail. 3