Cocoa Beach Pension Board Grapples with Market Volatility and Asset Devaluation

The Cocoa Beach Pension Board recently convened to discuss several matters, notably the impact of Federal Reserve’s interest rate cuts on real estate transactions and the devaluation of assets, the performance of equity markets affecting the fire and police funds, and the ongoing process of repapering contracts. The board also reviewed the quarterly reports provided by Anco, which highlighted a transition to Mariner and the positive performance of equity markets.

In the face of the Federal Reserve’s interest rate cuts, the Cocoa Beach Pension Board acknowledged the subsequent devaluation of real estate assets. The board reported receiving approximately $11,000 to $12,000 back in cash every quarter following a $250,000 distribution, with the remaining value being written down. This devaluation poses a concern as it affects the overall financial health of the pension funds.

The quarterly reports presented by Anco were thoroughly examined, with particular attention paid to the transition of investment management to Mariner and the equity markets’ performance. This transition comes during a time when the equity markets have been showing positive results, which contrasts with the real estate segment’s challenges. The report included an asset allocation overview, quarterly performance data, and an in-depth analysis of the various investment segments. Detailed discussions ensued on investment policy parameters and the alignment of the plans with their targets.

Moreover, the meeting delved into the financial status of the fire and police funds, which have seen a slight decrease in value. The decrease was attributed to a significant sell-off in the equity markets that occurred in April. The board members discussed the market’s volatility, which is expected to continue due to the upcoming election year. The volatility of the markets is a critical point of concern for the pension funds, which rely on stable growth to secure future benefits for retirees.

The board also discussed educational opportunities for its members, specifically mentioning the FPPA Summer Conference in Orlando and the Division of Retirement conference in September. Such conferences are essential for the board members to stay informed on best practices and emerging trends in pension fund management.

In addition to these discussions, the board addressed administrative matters. One such matter was the “repapering” of the contract under the Mariner umbrella, a necessary step to ensure the continuity and proper management of the investments. The board also provided updates regarding disability claims, financial disclosures, and legislative sessions, noting that no recently passed bills would impact their plan.

The next quarterly meeting was scheduled for August 6th. The meeting adjourned following a motion and a vote, with the board members agreeing on the discussed actions and strategies.

Note: This meeting summary was generated by AI, which can occasionally misspell names, misattribute actions, and state inaccuracies. This summary is intended to be a starting point and you should review the meeting record linked above before acting on anything you read. If we got something wrong, let us know. We’re working every day to improve our process in pursuit of universal local government transparency.
Mayor:
Keith Capizzi
Pension Board Officials:

Receive debriefs about local meetings in your inbox weekly:

Trending meetings
across the country:

Meeting Date
Filter by bodytypes
Agricultural Advisory Committee
Airport Advisory Board
Art and Culture Board
Beach Committee
Bike and Pedestrian Advisory Committee
Board of Elections
Board of Health
Borough Council
Building Committee
Cannabis Control Board
Cemetery Commission
Charter Revision Commission
Child and Family Services Board
City Council
City Identity Committee
Code Enforcement Board
College Board of Trustees
Community Appearance Board
Community Preservation Committee
Community Redevelopment Agency
County Council
Disability Advisory Committee
Economic Development Board
Elderly Affairs Board
Electric Advisory Board
Environmental Commission
Financial Oversight Board
Historic Preservation Commission
Housing Authority
Human Relations Committee
Human Resources Committee
Insurance Fund
Land Use Board
Library Board
Licensing Board
Mental Health Commission
Municipal Alliance
Open Space Commission
Oversight and Review Committee
Parent Advisory Board
Parking Authority
Parks and Gardens Commission
Parks Commission
Pension Board
Planning Board
Police Review Board
Port Authority
Property Assessment Board
Public Safety Committee
Recreation Commission
Redevelopment Agency
Rent Control Board
Rent Leveling Board
School Board
Sewerage Authority
Shade Tree Commission
Special Magistrate
Taxation & Revenue Advisory Committee
Tourism Board
Trails Committee
Transportation Board
Utility Board
Value Adjustment Board
Veterans Committee
Water Control Board
Women's Advisory Committee
Youth Advisory Committee
Zoning Board
Filter by County
FL
Bay County
Bradford County
Brevard County
Broward County
Clay County
Duval County
Escambia County
Gulf County
Hendry County
Highlands County
Hillsborough County
Indian River County
Lake County
Lee County
Leon County
Levy County
Liberty County
Manatee County
Marion County
Martin County
Miami-Dade County
Monroe County
Okaloosa County
Orange County
Osceola County
Palm Beach County
Pasco County
Pinellas County
Polk County
Putnam County
Santa Rosa County
Sarasota County
Seminole County
St. Johns County
Taylor County
Volusia County
Walton County
MA
Barnstable County
Berkshire County
Bristol County
Essex County
Franklin County
Hampden County
Hampshire County
Middlesex County
Norfolk County
Plymouth County
Suffolk County
Worcester County
MN
Anoka County
Becker County
Beltrami County
Benton County
Blue Earth County
Brown County
Carver County
Cass County
Chippewa County
Chisago County
Clay County
Cook County
Crow Wing County
Dakota County
Freeborn County
Goodhue County
Grant County
Hennepin County
Isanti County
Itasca County
Kanabec County
Kandiyohi County
Koochiching County
Lac Qui Parle County
Lyon County
Mcleod County
Morrison County
Mower County
Nicollet County
Olmsted County
Pipestone County
Polk County
Ramsey County
Rice County
Scott County
Sherburne County
Sibley County
St Louis County
Stearns County
Steele County
Waseca County
Washington County
Wright County
NJ
Atlantic County
Bergen County
Burlington County
Camden County
Cape May County
Cumberland County
Essex County
Gloucester County
Hudson County
Hunterdon County
Mercer County
Middlesex County
Monmouth County
Morris County
Ocean County
Passaic County
Somerset County
Sussex County
Union County
Warren County
NY
Bronx County
Kings County
New York County
Queens County
Richmond County
TN
Shelby County
Filter by sourcetypes
Minutes
Recording