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

October 18, 2012

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

TRUSTEES ABSENT
Paul Fortier
Robert Coffey

EX OFFICIO MEMBERS
Deputy Comptroller Martha Carlson
Lee Ann Palladino, CIO, Office of the State Treasurer

MUNICIPAL LIAISON
Thomas Landry

OTHERS PRESENT
Brenda Halpin, Director, Retirement Services Division
Colin Newman, Asst. Director, Retirement Services Division
Kishore Solanki, Asst. Director, Retirement Services Division
Jeanne Kopek, Asst. Director, Retirement Services Division
Bonnie Price, Asst. Director, Retirement Services Division
Virginia Brown, Counsel to Retirement Services Division
Natalie Braswell, Assistant State Comptroller
Peggy Gray, Executive Secretary, Retirement Services Division

CALL TO ORDER
The Chairman called the meeting to order at 10:08 A.M.

CHAIRMAN'S REPORT
An update was requested from Ice Miller every month so I can keep you all apprised of what is transpiring. I can relay any questions that the Trustees might have and get back to you with answers.

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORTS

Following the close of the October 2012 retirement payroll, the current backlog of unfinalized retirement records is approximately 12,981. The Division processed 117 new retirees (104 normal, 13 disabilities) to payroll for October. Finalizations for the month were 66 and this is due to the fact that we have reallocated the resources to handle the ARP to Hybrid transfers.

We have received 234 requests to transfer from the ARP to Hybrid of those 46 individuals are to retire directly and the remainder are active employees with the exception of 5 waivers. There are 16 new retirees that have been placed on the October payroll, for a total of 18 Hybrid retirees which are being finalized at the same time.

At the present time, we are reviewing July 2012 cases. The next available meeting for scheduling is December 2012.

I would like to introduce our Staff Attorney, Virginia Brown. We have begun working on policies and procedures with regards to the investigations and will have documents for your review and consideration within the next two months.

We have also been working with an in-house committee to review the audit backlog and to review our processes. We had a meeting with Oracle to see if there was a module that could be used to streamline our procedures and we will be providing documentation for the next Commission meeting to review and discuss.

NEW MATTERS

1. REQUEST COMMISSION APPROVAL OF THE SEPTEMBER 20, 2012
MINUTES Mr. Luciano moved, seconded by Mr. Poulin to approve the Minutes of September 20, 2012 as amended. All voted in favor

Unanimous Decision

2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSES REIMBURSEMENT Mr. Luciano moved, seconded by Ms. Brown-Brewton to approve the State Employees Retirement Commission Chairman's Per Diem expenses reimbursement. All voted in favor

Unanimous Decision

3. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Service Retirements for the month of September, 2012. All voted in favor

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Disability Retirements for the month of September, 2012. All voted in favor

Unanimous Decision

5. REQUEST COMMISSION APPROVAL OF THE VOLUNTARY PENDING
DISABILITY RETIREMENTS FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Ms. Brown-Brewton to approve the Voluntary Pending Disability retirements for the month of September 2012. All voted in favor

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Ms. Brown-Brewton to approve the Municipal Employee Retirement System retirements. All voted in favor

Unanimous Decision

7. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING BOARD FROM ITS MEETING OF SEPTEMBER 7, 2012 RELATIVE TO APPLICATIONS FOR DISABILITY RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM Mr. Luciano moved, seconded by Ms. Brown-Brewton to accept the recommendations of the Medical Examining Board from it's meeting September 7, 2012 relative to applications for Disability Retirement received from the Municipal Employees Retirement System. All voted in favor

Unanimous Decision

8. REQUEST COMMINSSION ACCEPTANCE OF THE CONNECTICUT STATE EMPLOYEES PRE RETIREMENT DEATH BENEFIT RETIREMENTS FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Ms. Brown-Brewton to accept the Connecticut State Employees Pre Retirement Death Benefit Retirements for the month of September 2012. 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. Greatorex to approve the Connecticut Probate Judges and Employees Retirement System Retirements. All voted in favor

Unanimous Decision

10. REQUEST COMMISSION APPROVAL OF THE JUDGES AND EMPLOYEES RETIREMENT SYSTEM SPOUSE RETIREMENTS Mr. Luciano moved, seconded by Mr. Greatorex to approve the Judges and Employees Retirement System Spouse Retirements. All voted in favor

Unanimous Decision

11. REQUEST COMMISSION REVIEW OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND PERSONNEL EXPENSES FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to review the Connecticut Probate Judges and Employees Retirement Fund Personnel Expenses for the month of September 2012. 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 FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Ms. Brown-Brewton to approve the State Employees Retirement Commission Management Trustees' Per Diem and Travel Expenses reimbursements for the month of September 2012. All voted in favor Mr. Baus abstained

Majority Decision

13. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF SEPTEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Trustees' Per Diem and Travel Expenses reimbursements for the month of September 2012. All voted in favor Mr. Poulin abstained

Majority Decision

14. REQUEST COMMMISSION APPROVAL OF THE STATE EMPLOYEES
RETIREMENT COMMISSION MEMBER CHARLES CASELLA'S PARKING EXPENSES FROM OCTOBER 24, 2011 THROUGH SEPTEMBER 14, 2012 Mr. Luciano moved, seconded by Mr. Poulin to approve the State Employees Retirement Commission Member Charles Casella's Parking expenses from October 24, 2011 through September 14, 2012. All voted in favor Mr. Casella abstained

Majority Decision

15. REQUEST COMMISSION APPROVAL OF THE RECOMMENDATIONS OF THE INVESTMENT SUBCOMMITTEE CONCERNING THE STABLE VALUE FUND Mr. Luciano made a motion to table till date certain, seconded by Mr. Greatorex.

Item Tabled

ITEMS #16 THROUGH #23 ARE FOR COMMISSION REVIEW ONLY
NO VOTES TAKEN

16. REQUEST COMMISSION REVIEW OF THE STATE EMPLOYEES'
RETIREMENT SYSTEM BALANCE SHEET AS OF JUNE 30, 2012

17. REQUEST COMMISSION REVIEW OF THE STATE EMPLOYEES' RETIREMENT SYSTEM STATEMENT OF OPERATIONS FOR FISCAL YEAR ENDING JUNE 30, 2012

18. REQUEST COMMISSION REVIEW OF THE JUDGES, FAMILY SUPPORT MAGISTRATES' AND COMPENSATION COMMISSIONERS FUND STATEMENT OF OPERATIONS FOR FISCAL YEAR ENDING JUNE 30, 2012

19. REQUEST COMMISSION REVIEW OF THE JUDGES', FAMILY SUPPORT MAGISTRATES' AND COMPENSATION COMMISSIONERS RETIREMENT FUND BALANCE SHEET AS OF JUNE 30, 2012

20. REQUEST COMMISSION REVIEW OF THE CONNECTICUT POLICEMEN & FIREMAN SURVIVORS' BENEFIT FUND STATEMENT OF OPERATIONS FOR FISCAL YEAR ENDING JUNE 30, 2012

21. REQUEST COMMISSION REVIEW OF THE CONNECTICUT POLICEMEN & FIREMEN SURVIVORS' BENEFIT BALANCE SHEET AS OF JUNE 30, 2012

22. REQUEST COMMISSION REVIEW OF THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT FUND B BALANCE SHEET AS OF JUNE 30, 2012

23. REQUEST COMMISSION REVIEW OF THE CONNECTICUT MUNICIPAL EMPLOYEES' RETIREMENT FUND B STATEMENT OF OPERATIONS FOR THE PLAN YEAR ENDING JUNE 30, 2012

24. REQUEST COMMISSION REVIEW AND DISCUSSION OF THE MEMORANDUM REGARDING THE PARTIAL WITHDRAWAL OF THE MUNICIPALITIES FROM THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM FUND Mr. Luciano moved, seconded by Ms. Yelmini to table this motion for more research on this issue. All voted in favor

Item tabled

25. REQUEST COMMISSION REVIEW OF THE STATE EMPLOYEES RETIREMENT COMMISSION PROPOSED CALENDAR OF MEETINGS FOR THE
YEAR 2013 FOR ADOPTION AT THE NOVEMBER 2012 RETIREMENT COMMISSION MEETING At the request of the Chairman the date of the January 2013 Commission meeting will be the second Thursday, January 10, 2013. At the request of Mr. Baus, the March Commission meeting will be the second Thursday, March 14, 2013. All voted in favor

Unanimous Decision

ADJOURNMENT

Ms. Brown-Brewton moved, seconded by Mr. Greatorex to adjourn the meeting at 10:42 a.m.

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