MINUTES OF MEETING
STATE EMPLOYEE RETIREMENT COMMISSION
55 ELM STREET
HARTFORD, CT 06106

March 14, 2013

TRUSTEES PRESENT
Peter Blum
Robert Baus
Sandra Fae Brown-Brewton
Michael Carey
Charles Casella
Robert Coffey
Richard Cosgrove
James Dzurenda
Steve Greatorex
Sal Luciano
Ronald McLellan
Laila Mandour
Claude Poulin
Linda Yelmini

TRUSTEES ABSENT
Paul Fortier

EX OFFICIO MEMBERS
Martha Carlson, Deputy Comptroller

MUNICIPAL LIAISON
Thomas Landry

OTHERS PRESENT
Brenda Halpin, Director, Retirement Services Division
Kishore Solanki, Asst. Director, Retirements Services Division
Virginia Brown, Staff Attorney, Retirement Services Division
Natalie Braswell, Assistant State Comptroller
Colin Newman, Asst. Director, Retirements Services Division
Peggy Gray, Executive Secretary, Retirement Services Division

OTHERS PRESENT
Attorney Lawrence Sgrignari

CALL TO ORDER
The Chairman called the meeting to order at 9:07 a.m.

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORTS

It was difficult for us to clearly articulate the outcome of the CMERS Disability agenda item so if the minutes do not accurately reflect the discussion please advise us when we are at that point in the agenda.

The payroll has not closed for this month however we have approximately 92 regular applications and 28 disability applications. I will be providing the full report next month.

We met with ING to discuss the work flow of the payments and to address the future payments of those members with encumbered funds. We are scheduling regular meetings including a site visit to ING to see their operations. Trustees are welcome to join us for the site visit.

The matter regarding the City of Bridgeport Fire Department that became part of MERS in 2011 is still an outstanding item. I will keep you informed.

NEW MATTER

1. REQUEST COMMISSION APPROVAL OF THE FEBRUARY 2013 MINUTES Mr. Luciano made a motion to review the minutes, seconded by Mr. Poulin. After review and minor change all voted to approve

Unanimous Decision

2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSES REIMBURSEMENTS Mr. Luciano moved, seconded by Mr. Poulin to approve the State Employees Retirement Commission Chairman'S Per Diem expenses reimbursements. All voted in favor

Unanimous Decision

3. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF FEBRUARY 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Service retirements for the month of February, 2013. All voted in favor

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF FEBRUARY 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees System Disability retirements for the month of February, 2013. All voted in favor

Unanimous Decision

5. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES SYSTEM VOLUNTARY PENDING RETIREMENTS FOR THE MONTH OF FEBRUARY 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees System Voluntary Pending retirements for the month of February, 2013. All voted in favor

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM PRE RETIREMENT DEATH BENEFIT RETIREMENTS FOR THE MONTH OF FEBRUARY 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Pre Retirement Death Benefit retirements for the month of February, 2013. All voted in favor

Unanimous Decision

7. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OF FEBRUARY 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Retroactive retirements for the month of February, 2013. All voted in favor

Unanimous Decision

8. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr. Poulin to approve the Municipal Retirement System retirements. All voted in favor

Unanimous Decision

9. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut Probate Judges and Employees Retirement System retirements. All voted in favor

Unanimous Decision

10. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION MANAGEMENT TRUSTEES PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS Mr. Luciano moved, seconded by Mr. Cosgrove to approve the State Employees Retirement Commission Management Trustees Per Diem and Travel expenses reimbursements. All voted in favor Mr. Baus abstained

Majority Decision

11. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEES PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS Mr. Luciano moved, seconded by Mr. Cosgrove to approve the State Employees Retirement Commission Union Trustees Per Diem and Travel expenses reimbursements. All voted in favor Mr. Poulin abstained

Majority Decision

12. REQUEST COMMISSION APPROVAL OF PARTICIPATION OF THE CITY OF HARTFORD BOARD OF EDUCATION UNION LOCAL 818, BUILDING & GROUNDS SUPERVISOR EMPLOYEES IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM EFFECTIVE JUNE 1, 2013 Mr. Luciano moved, seconded by Mr. Greatorex to approve the participation of the City of Hartford Board of Education Union Local 818, Building & Grounds Supervisor Employees in the Connecticut Municipal Employees Retirement System effective June 1, 2013. All voted in favor

Unanimous Decision

ITEM TABLED FROM THE FEBRUARY 21, 2013 MEETING

REQUEST COMMISSION APPROVAL OF THE RECOMMENDATIONS OF THE LEGAL AND PERSONNEL SUBCOMMITTEE TO ADVISE THE OFFICE OF THE STATE COMPTROLLER THAT WE RECOMMEND NO CHANGE IN CURRENT PRACTICE REGARDING THE ADMINISTRATION OF THE CMERS DISABILITY AND REEMPLOYMENT STATUTORY PROVISION. CONSISTENT WITH OUR FIDUCIARY RESPONSIBILITY TO REVIEW THE STATUTORY LANGUAGE AND PROMLGATE REGULATIONS AS RECOMMENDED BY THE ATTORNEY GENERAL Mr. Luciano moved, seconded by Mr. Greatorex to table this item until the April meeting and send it back to the Legal and Personnel Subcommittee for their recommendation.

There was discussion in connection with this agenda item which concerned disability retirements. The Trustees had been previously supplied with information from the State Comptroller concerning fourteen MERS members. After discussion Mr. Luciano moved, seconded by Mr. Greatorex to grant the fourteen MERS members their Disability Retirement. All voted in favor

Unanimous Decision

EXECUTIVE SESSION was called at 9:45 a.m. to discuss Items 13-15, Ms. Halpin, Ms. Brown, Ms. Braswell, Mr. Newman and Mr. Solanki were permitted to stay.

The Commission came out of Executive Session at 10:00 a.m.

14 a) REQUEST COMMISSION APPROVAL OF RECOMMENDATION OF THE ACTUARIAL SUBCOMMITTEE FOR ENTERING INTO CONTRACTS FOR ACTUARIAL SERVICES ON A BIENNIAL BASIS FOR FOUR YEARS (2013-2017) FOR SERS Mr. Baus moved, seconded by Mr. Poulin to approve Cavanaugh McDonald Consulting, LLC for Actuarial services on a Biennial basis for four years (2013-2017) for SERS. All voted in favor

Unanimous Decision

14 b) REQUEST COMMISSION APPROVAL OF RECOMMENDATION OF THE ACTUARIAL SUBCOMMITTEE FOR ENTERING INTO CONTRACTS FOR ACTUARIAL SERVICES ON A BIENNIAL BASIS FOR FOUR YEARS (2013-2017) FOR MERS Mr. Baus moved, seconded by Mr. Poulin to approve Cavanaugh McDonald Consulting, LLC for Actuarial services on a Biennial basis for four years (2013-2017) for MERS. All voted in favor

Unanimous Decision

15 a) APPROVAL FOR THE STATE COMPTROLLER TO NEGOTIATE AND THEREAFTER ENTER INTO CONTRACTS ON BEHALF OF THE RETIREMENT COMMISSION, AFTER FINAL APPROVAL OF THE CONTRACTS ARE GIVEN BY THE RETIREMENT COMMISSION TRUSTEES, FOR MERS ACTUARIAL SERVICES ON A BIENNIAL BASIS FOR 2013-2017 Mr. Baus moved, seconded by Mr. Poulin to approve the State Comptroller to negotiate and thereafter enter into contracts on behalf of the Retirement Commission after final approval of the contracts are given by the Retirement Commission Trustees for MERS Actuarial Services on a Biennial bases for 2013-2017. All voted in favor

Unanimous Decision

15 b) APPROVAL FOR THE STATE COMPTROLLER TO NEGOTIATE AND THEREAFTER ENTER INTO CONTRACTS ON BEHALF OF THE RETIREMENT COMMISSION, AFTER FINAL APPROVAL OF THE CONTRACTS ARE GIVEN BY THE RETIREMENT COMMISSION TRUSTEES, FOR SERS ACTUARIAL SERVICES ON A BIENNIAL BASIS FOR 2013-2017 Mr. Baus moved, seconded by Mr. Poulin to approve the State Comptroller to negotiate and thereafter enter into contracts on behalf of the Retirement Commission after final approval of the contracts are given by the Retirement Commission Trustees for MERS Actuarial Services on a Biennial bases for 2013-2017. All voted in favor

Unanimous Decision

The Commission went back into Executive Session at 10:05 a.m. to discuss Item 13, Ms. Halpin was permitted to stay.

13 a) EXECUTIVE SESSION TO DISCUSS THE 415 ISSUE BEING HANDLED BY ICE MILLER No motion was made on this item.

13 b) EXECUTIVE SESSION TO DISCUSS ANY OTHER PENDING LEGAL MATTERS No motion was made on this item.

ADJOURNMENT

Mr. Luciano moved, seconded by Mr. Greatorex to adjourn the meeting at 10:35 a.m. All voted in favor

Unanimous Decision

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