BOT for the Gainesville General Employees Pension Plan

1 City of Gainesville Board of Trustees for the Gainesville General Employees’ Pension Plan MINUTES August 7, 2025, 9:45 a.m. City Hall Auditorium 200 East University Avenue Gainesville, FL 32601 Members Present: Ed Book, Cynthia Chestnut, Bryan Eastman, Harvey Ward, Casey Willits Members Absent: Desmon Duncan-Walker, James Ingle _____________________________________________________________________ A. CALL TO ORDER Meeting called to order at 9:45 a.m. B. ADOPTION OF THE AGENDA Moved by Casey Willits Seconded by Cynthia Chestnut Motion: The BOT for the Gainesville General Employees’ Pension Plan adopt the agenda. Aye (5): Ed Book, Cynthia Chestnut, Bryan Eastman, Harvey Ward, and Casey Willits Absent (2): Desmon Duncan-Walker, and James Ingle Approved (5 to 0)

2 C. BUSINESS DISCUSSION ITEMS 1. 2025-582 Fiscal Year 2024 Actuarial Valuation Report for the Gainesville General Employees’ Pension Plan (B) Cynthia Curry, City Manager, introduced the item, mentioned that she had a conversation with Ed Bielarski, CEO of Gainesville Regional Utilities, and he did not have an objection to the increased rate. William Johnston, Investment Manager, gave an overview of the item and introduced the consultant, Joe Griffin, Actuary from Foster and Foster, Incorporated. Joe Griffin, Actuary from Foster and Foster, Incorporated, spoke to the item, giving background and details on the proposed recommendation, saying the city's pension plan is the most well-funded plan in the state and maybe the country. Public Comment: Jim Konish Moved by Ed Book Seconded by Cynthia Chestnut Recommendation: The Board of Trustees for the City of Gainesville General Employees’ Pension Plan: 1) approve the FY 2024 Actuarial Valuation Report for the Gainesville General Employees’ Pension Plan; 2) approve the separate FY 2026 Gainesville General Employees’ Pension Plan employer contribution rates of 6.27% of pensionable payroll for General Government, and 6.70% of pensionable payroll for Gainesville Regional Utilities, as calculated in the FY 2024 Actuarial Valuation Report; and 3) approve, as an alternative, the FY 2026 total combined employer contribution rate of 6.51%, in case an agreement on separate FY 2026 employer contribution rates is not reached with Gainesville Regional Utilities. Aye (5): Ed Book, Cynthia Chestnut, Bryan Eastman, Harvey Ward, and Casey Willits Absent (2): Desmon Duncan-Walker, and James Ingle Approved as Recommended (5 to 0)

3 D. ADJOURNMENT Meeting adjourned at 9:57 a.m. _________________________ Kristen J. Bryant, JD, CMC City Clerk