MINUTES OF MEETING
STATE EMPLOYEES RETIREMENT COMMISSION
OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106

March 19, 2009

TRUSTEES PRESENT
Peter R. Blum, Chairman
Bob Baus
Steve Caliendo
Charles Casella
Robert Coffey
Richard Cosgrove
Thomas Culley
Steve Greatorex
Sal Luciano
Mary Marcial
Ronald McLellan
Claude Poulin
Linda Yelmini

ABSENT
Paul Fortier
Jeffrey Smith, Municipal Liaison

OTHERS PRESENT
Mark Ojakian, Deputy Comptroller, Retirement Services Division
Helen Kemp, Assistant Director, Counsel for the Retirement Services Division
Marilyn Rodriguez, Secretary II, Retirement Services Division
Peggy Gray, Executive Assistant, Retirement Services Division
Karen Buffkin, Counsel for the State Comptroller
Thomas Woodruff, Division Director, Healthcare Policy and Benefit Services Division
Margaret Haring, Assistant Director, Healthcare Policy and Benefit Services Division

GUESTS
George Spurlock

CALL TO ORDER

The Deputy Comptroller called the meeting to order at 9:00 a.m.

CHAIRMAN'S REPORT

Peter Blum comments that he is happy to be back.

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORT

Administrative

The Director reported that the current backlog of unfinalized State Employees Retirement System (SERS) accounts is approximately 6,473 with 63 new retirees for the month consisting of 45 normal retirements and 18 disability retirements; 118 applications were finalized for the month. new disability applications were received and applications were put on the Medical Examining Board agenda; disability applications were approved. Currently, there are disability applications pending, incomplete applications, denied applications with a total of pending / incomplete disability applications as of January 2009.

The Director reported that the current backlog of Connecticut Municipal Employees Retirement System (CMERS) accounts to be recalculated is approximately 3,767 applications having recalculated 101 applications in January 2009. The CMERS unit has completed review of all retirements applications submitted for the time frame from January 1 to December 31, 2000.

1. REQUEST COMMISSION APPROVAL OF THE FEBRUARY 19, 2009 MINUTES

Mr. Luciano moved, seconded by Ms. Yelmini to approve the February 19, 2009 minutes as amended. All voted in favor.

Unanimous Decision

2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM AND TRAVEL EXPENSE REIMBURSEMENT

Mr. Luciano moved, seconded by Ms. Fae Brown-Brewton to approve the State Employees Retirement Commission Chairman's per diem and travel expenses reimbursement. All voted in favor.

Unanimous Decision

3. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES
RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF
FEBRUARY 2009

Mr. Luciano moved, seconded by Ms. Yelmini to approve the State Employees Retirement System Service Retirements. All voted in favor.

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM VOLUNTARY PENDING DISABILITY
RETIREMENTS FOR THE MONTH OF FEBRUARY 2009

Mr. Luciano moved, seconded by Ms. Yelmini to approve the State Employees Retirement System Voluntary Pending Disability Retirements. All voted in favor.

Unanimous Decision

5. REQUEST COMMISSION REVIEW OF THE STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF FEBRUARY 2009 APPROVED BY THE MEDICAL EXAMINING BOARD AS OF JANUARY 31, 2009

Mr. Luciano moved, seconded by Ms. Yelmini approve the State Employees Retirement System Disability Retirements. All voted in favor.

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OF FEBRUARY 2009

Mr. Luciano moved, seconded by Ms. Yelmini to approve the State Employees Retirement System Retroactive Retirements. All voted in favor.

Unanimous Decision

7. REQUEST COMMISSION APPROVAL OF THE JUDGES, FAMILY SUPPORT MAGISTRATES AND COMPENSATION COMMISSIONERS RETIREMENT SYSTEM RETIREMENTS

Mr. Luciano moved, seconded by Ms. Yelmini to approve the Judges, Family Support Magistrates and Compensation Commissioners Retirement System Retirements. All voted in favor.

Unanimous Decision

8. REQUEST COMMISSION APPROVAL OF THE PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND STATEMENT OF OPERATIONS AND BALANCE SHEET FOR YEAR ENDING DECEMBER 31, 2008

Mr. Luciano moved, seconded by Ms. Yelmini to approve the Probate Judges and Employees Retirement Fund Statement of Operations and Balance Sheet. All voted in favor.

Unanimous Decision

9. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING BOARD FROM ITS MEETINGS OF FEBRUARY 27, 2009 RELATIVE TO APPLICATIONS FOR DISABILITY RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM

Mr. Luciano moved, seconded by Ms. Yelmini to approve the Medical Examining Board from its meetings of February 27, 2009 relative to applications for Disability Retirement received from the Municipal Employees Retirement System. All voted in favor.

Unanimous Decision

10. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL RETIREMENT SYSTEM RETIREMENTS

Mr. Luciano moved, seconded by Ms. Yelmini to approve the Municipal Retirement System Retirements. All voted in favor.

Unanimous Decision

11. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND PERSONAL EXPENSES FOR THE MONTH OF FEBRUARY 2009

Mr. Luciano moved, seconded by Ms. Yelmini to approve the Connecticut Probate Judges and Employees Retirement Fund Personal Expenses. All voted in favor.

Unanimous Decision

12. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION MANAGEMENT TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS

Mr. Luciano moved, seconded by Ms. Yelmini to approve the State Employees Retirement Commission Management Trustee's per diem and travel expenses reimbursements. All voted in favor.

Abstaining: Mr. Baus

Voting in opposition to the motion: none.

Majority Decision.

13. REQUEST COMMISSION APPROVAL OF THE PARKING EXPENSES INCURRED BY CHARLES CASELLA FOR COMMISSION MEETINGS BETWEEN OCTOBER 2008 THRU MARCH 2009

Mr. Luciano moved, seconded by Ms. Fae Brown-Brewton to approve the parking expenses incurred by Charles Casella for commission meetings. All voted in favor.

Abstaining: Mr. Casella

Voting in opposition to the motion: none.

Majority Decision.

14. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS

Mr. Luciano moved, seconded by Ms. Fae Brown-Brewton to approve the State Employees Retirement Commission Union Trustee's per diem and travel expenses reimbursements. All voted in favor.

Abstaining: Mr. Poulin

Voting in opposition to the motion: none.

Majority decision.

15. CONSIDERATION OF INVESTMENT SUBCOMMITTEE'S
RECOMMENDATION TO REDUCE CREDITING RATE FOR STABLE VALUE
FUND FOR SECOND QUARTER OF 2009

Mr. Luciano moved, seconded by Mr. Baus to approve recommendations to reduce crediting rate for stable value fund for second quarter of 2009. All voted in favor.

Unanimous Decision

16. EXECUTIVE SESSION CONCERNING STRATEGIES ON APPEAL MATTERS AT SUPERIOR COURT AND PENDING CLASS ACTION AT FEDERAL DISTRICT COURT AND ANY COMMUNICATION FROM COMMISSION'S ATTORNEYS

Ms. Fae Brown-Brewton moved, seconded by Mr. Poulin to go into Executive Session. All voted in favor.

Unanimous Decision

Mr. Luciano moved, seconded by Ms. Yelmini to go out of Executive session at 10:53a.m. All voted in favor.

ADJOURNMENT

Mr. Luciano moved, seconded by Ms. Yelmini to adjourn the meeting. All voted in favor.

The Chairman adjourned the meeting at 10:11 a.m.

______________________________
Peter R. Blum. Chairman
State Employees Retirement Commission

_________________________________
Mark Ojakian, Director

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