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

September 18, 2008

TRUSTEES PRESENT
Peter R. Blum, Chairman
Bob Baus
S. Fae Brown-Brewton
Steve Caliendo
Charles Casella
Robert Coffey
Richard Cosgrove
Thomas Culley
Paul Fortier
Steve Greatorex
Mary Marcial
Ronald McLellan
Claude Poulin
Linda Yelmini

ABSENT
Sal Luciano
Jeffrey Smith, Municipal Liaison

OTHERS PRESENT
Dr. Thomas Woodruff, Director, Retirement Services Division
Margaret Haering, Assistant Director, Retirement Services Division
Helen Kemp, Assistant Director, Counsel for the Retirement Services Division
Jeanne Kopek, Assistant Director, Retirement Services Division
Colin Newman, Assistant Director, Retirement Services Division
Joseph Lantieri, Retirement & Benefits Services Division, Disability Unit
Diane Ruggia, Executive Assistant, Retirement Services Division
Karen Buffkin, counsel for the State Comptroller

GUESTS
Brian Comer, President, ING
Tony Camp, Vice President of the Stable Value Fund, ING
Michael Eldridge, Equity Investments, ING
Kathleen Carey-Reid, Vice President, ING

George Spurlock, Connecticut Employees Union Independent

CALL TO ORDER

The Chairman called the meeting to order at 9:04 a.m.

The Chairman reminded the Trustees of the upcoming Investment subcommittee meeting which will take place October 1, 2008 at 2:00 p.m.

With regard to the Legal/Personnel Subcommittee, the Chairman updated the Trustees with regard to the Class Action RFP, and the decision made by the Legal/Personnel subcommittee for Michael Rose of The Firm of Rose Kallor, LLC to represent the Commission, which was also approved by the Attorney General's office.

The Chairman noted that an RFP for the ARP/403(b) was sent out and 6 replies were received. Upon discussion, Ms. Brown-Brewton moved seconded by Ms. Yelmini to allow the ARP/ 403(b) RFP selection committee the right to act on behalf of the Commission in the selection process. All voted in favor.

Unanimous Decision

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 6,693 with 103 new retirees for the month of , consisting of 86 normal retirements and 17 disability retirements; 74 applications were finalized, total number of retirement files completed for the month totaled 177; 24 new disability applications were received and 15 applications were put on the Medical Examining Board agenda; 13 disability applications were approved. Currently, there are 18 disability applications pending, 328 incomplete applications, and 170 denied applications with a total of 516 pending / incomplete disability applications as of September, 2008.

Subcommittee status reports had been submitted to the Commission as part of the agenda package.

INVESTMENT REVIEW FOR THE ALTERNATE RETIREMENT PLAN PRESENTATION BY ING REPRESENTATIVES

Upon the presentation, the Director noted that any action will be deferred by the Commission to its Investment subcommittee.

Unanimous Decision

1. REQUEST COMMISSION APPROVAL OF THE AUGUST 28, 2008 MINUTES

Mr. Casella moved, seconded by Mr. Poulin to approve the August 28, 2008 minutes. 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. Casella moved, seconded by Mr. Poulin to approve the State Employees Retirement Commission Chairman's per diem and travel expenses reimbursements. All voted in favor.

Unanimous Decision

3. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF AUGUST 2008

Mr. Casella moved, seconded by Mr.Poulin to approve the State Employees Retirement System service retirements for the month of August 2008. All voted in favor.

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT
SYSTEM VOLUNTARY PENDING DISABILITY RETIREMENTS FOR THE MONTH
OF AUGUST 2008

Mr. Casella moved, seconded by Mr. Poulin to approve the State Employees Retirement System voluntary pending disability retirements for the month of August 2008. All voted in favor.

Unanimous Decision

5. REQUEST COMMISSION REVIEW OF THE STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF AUGUST 2008 APPROVED BY THE MEDICAL EXAMINING BOARD AS OF JULY 31, 2008

Mr. Casella moved, seconded by Mr. Poulin to note and accept the State Employees Retirement System disability retirements for the month of August 2008 approved by the Medical Examining Board as of July 31, 2008. All voted in favor.

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT
SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OF AUGUST 2008

Mr. Casella moved, seconded by Mr. Poulin to approve the State Employees Retirement System retroactive retirements for the month of August 2008. All voted in favor.

Unanimous Decision

7. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM PRE RETIREMENT DEATH BENEFIT RETIREMENTS FOR THE MONTH OF AUGUST 2008

Mr. Casella moved, seconded by Mr. Poulin to approve the State Employees Retirement System pre retirement death benefit retirements for the month of August 2008. All voted in favor.

Unanimous Decision

8. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL RETIREMENT
SYSTEM RETIREMENTS

Mr. Casella moved, seconded by Mr. Poulin to approve the Municipal Retirement System Retirements. All voted in favor.

Unanimous Decision

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

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

Voting in favor of the motion: Ms. Brown-Brewton, Mr. Caliendo, Mr. Casella, Mr.
Coffey, Mr. Cosgrove, Mr. Culley, Mr. Fortier, Mr. Greatorex, Ms. Marcial, Mr. McLellan, Mr.
Poulin and Ms. Yelmini.

Abstaining: Mr. Baus

Majority Decision

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

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

Voting in favor of the motion: Mr. Baus, Ms. Brown-Brewton, Mr. Caliendo, Mr. Casella, Mr.
Coffey, Mr. Cosgrove, Mr. Culley, Mr. Fortier, Mr. Greatorex, Ms. Marcial, Mr. McLellan, and Ms.
Yelmini.

Abstaining: Mr. Poulin

Majority Decision

11. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND PERSONAL EXPENSES FOR THE MONTH OF AUGUST 2008

Ms. Brown Brewton moved, seconded by Mr. Coffey to approve the Connecticut Probate Judges and employees retirement fund personal expenses for the month of August. All voted in favor.

Unanimous Decision

12. REQUEST COMMISSION CONSIDERATION OF REQUEST RECEIVED FROM THE DEPARTMENT OF CORRECTIONS FOR THE INCLUSION OF HAZARDOUS DUTY APPENDIX OF THE MANAGEMENT CLASSIFICATION DEPUTY DIRECTOR OF PAROLE AND COMMUNITY SERVICES

At the request of the Commission, no appearance was needed by the Department of Corrections personnel. Mr. Casella moved, seconded by Ms. Brown Brewton to refer the request received from the Department of Corrections for the inclusion of hazardous duty appendix of the management classification Deputy Director of Parole and Community Services to its Subcommittee on Hazardous Duty. All voted in favor.

Unanimous Decision

13. REQUEST COMMISSION CONSIDERATION OF REQUEST RECEIVED FROM THE DEPARTMENT OF CORRECTIONS FOR COVERAGE UNDER THE HAZARDOUS DUTY PROVISIONS OF THE STATE EMPLOYEES RETIREMENT SYSTEM FOR THREE OF THEIR EMPLOYEES IN THE MANAGEMENT CLASSIFICATION CORRECTIONAL SERVICES MANAGER

At the request of the Commission, no appearance was needed by the Department of Corrections personnel. Mr. Casella moved, seconded by Ms. Brown Brewton to refer the request received from the Department of Corrections for coverage under the hazardous duty provisions of the State Employees Retirement system for three of their employees in the management classification Correctional Services Manager to its Subcommittee on Hazardous Duty. All voted in favor.

Unanimous Decision

APPEARANCE BY ATTORNEY MICHALE ROSE OF ROSE KALLOR, LLC TO REPORT IN EXECUTIVE SESSION TO THE COMMISSION AN UPDATE OF LONGLEY RELATED MATTERS

At this juncture, Ms. Brown-Brewton moved, seconded by Mr. Greatorex to enter into Executive Session with Attorney Michael Rose at 10:45 a.m. Division staff was excluded from attending the executive session. All voted in favor.

Unanimous Decision

Ms. Brown-Brewton moved, seconded by Mr. Casella to go out of executive session at 11:45.

Upon coming out of executive session, Ms. Yelmini moved, seconded by Mr. Poulin to refer the matter of rules and regulations to the Regulations Subcommittee, scheduled to meet on October 22, 2008. All voted in favor.

Unanimous Decision

ADJOURNMENT

Ms. Brown - Brewton moved, seconded by Mr. McLellan to adjourn the meeting.
All voted in favor.

The Chairman adjourned the meeting at 11:50 a.m.

______________________________
Peter R. Blum. Chairman
State Employees Retirement Commission

_________________________________
Thomas C. Woodruff, Ph.D., Director

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