BOT for the Gainesville General Employees Pension Plan

1 City of Gainesville Board of Trustees for the Gainesville General Employees Pension Plan MINUTES June 5, 2025, 9:45 a.m. City Hall Auditorium 200 East University Avenue Gainesville, FL 32601 Members Present: Commissioner Book, Commissioner Chestnut, Mayor Pro Tem Eastman, James Ingle, Mayor Ward, Commissioner Willits Members Absent: Commissioner Duncan-Walker _____________________________________________________________________ A. CALL TO ORDER Meeting called to order at 9:45 a.m. B. ADOPTION OF THE AGENDA Moved by Mayor Pro Tem Eastman Seconded by Commissioner Chestnut Motion: The BOT for the Gainesville General Employees Pension Plan adopt the agenda. Aye (5): Commissioner Book, Commissioner Chestnut, Mayor Pro Tem Eastman, Mayor Ward, and Commissioner Willits Absent (2): Commissioner Duncan-Walker, and James Ingle Approved (5 to 0) C. BUSINESS DISCUSSION ITEMS 1. 2025-423 Gainesville General Employees’ Pension Plan Investment Policy Statement Update (B)

2 Cynthia Curry, City Manager, introduced the item. William Johnston, Investment Manager, gave an overview of the Gainesville General Employees’ Pension Plan Investment Policy Statement updates. Commissioner Ingle joined the meeting at 9:47 a.m. Moved by Commissioner Book Seconded by Mayor Pro Tem Eastman Recommendation: The Board of Trustees review and approve the updated 2025 Gainesville General Employees’ Pension Plan Investment Policy Statement. Motion: Approve as recommended. Aye (6): Commissioner Book, Commissioner Chestnut, Mayor Pro Tem Eastman, James Ingle, Mayor Ward, and Commissioner Willits Absent (1): Commissioner Duncan-Walker Approved (6 to 0) 2. 2025-453 Gainesville General Employees’ Pension Plan Investment Management Services (B) William Johnston, Investment Manager, gave an overview of the item. Moved by Commissioner Willits Seconded by Commissioner Chestnut Recommendation: The Board of Trustees: 1) accept the Pension Review Committee’s recommendation to terminate Plan investment manager Brown Advisory and retain investment manager Winslow Capital; 2) authorize City staff to initiate contract negotiations with Winslow Capital for U.S. Equity Large Cap Growth investment management services for the General Employees’ Retirement Plan; and 3) authorize the City Manager as Trust Administrator to execute all related documents, including contract amendments and extensions, subject to approval of the City Attorney as to form and legality.

3 Motion: Approve as recommended. Aye (6): Commissioner Book, Commissioner Chestnut, Mayor Pro Tem Eastman, James Ingle, Mayor Ward, and Commissioner Willits Absent (1): Commissioner Duncan-Walker Approved (6 to 0) D. ADJOURNMENT Meeting adjourned at 9:51 a.m. _________________________ Kristen J. Bryant, JD, CMC, City Clerk