STATE OF CONNECTICUT
STATE EMPLOYEES RETIREMENT COMMISSION

A special meeting of the State Employees Retirement Commission (the ?Commission?) was held on March 23, 2018 via Conference Call. The meeting convened at 9:08 a.m. and the following members of the Commission were present:

• Peter Adomeit, Chairman
• Michael Bailey, Trustee
• Charles Casella, Trustee
• Robert D. Coffey, Trustee
• Richard M. Cosgrove, Trustee
• Lisa Grasso Egan, Trustee
• Sal Luciano, Trustee
• Laila Mandour, Trustee
• Ronald McLellan, Trustee
• Claude Poulin, Trustee
• Laurie Martin, Ex Officio Member

The following members of the Commission were absent:

• Sandra Fae Brown Brewton, Trustee
• Michael Carey, Trustee
• Paul Fortier, Trustee
• Angel Quiros, Trustee
• Martha Carlson, Deputy Comptroller & Interim Director of Retirement Services, Ex Officio Member

Also present were:

• John Herrington, Retirement Services Division
• Thomas Woodruff, Healthcare Policy & Benefit Services Division
• Amy Cason, Healthcare Policy & Benefit Services Division

Meeting called to order:

• Ms. Laila Mandour moved, seconded by Mr. Richard Cosgrove to amend the agenda to add ; to adopt a Default Investment option for the Tier IV Defined Contribution Plan to mirror the current default investment option (GoalMaker Moderate Portfolio) utilized by the ARP, 403(b) and 457 Plans. Chairman asked if there was any discussion. There being no discussion he called for a vote. The Commission voted unanimously to amend the agenda.
   
• Mr. Laila Mandour moved to adopt the Investment Subcommittee?s recommendation to adopt the Investment Fund line-up for the Tier IV Defined Contribution Plan to mirror the current investment fund line-up in the ARP, 403(b) and 457 Plans. Chairman asked if there was any discussion. There was discussion. Matter was called to vote. Mr. Ronald McLellan abstained. The remaining committee members voted unanimously in favor to approve the motion. Motion approved.
   
• Ms. Laila Mandour moved to adopt the Investment Subcommittee?s recommendation to adopt a Default Investment option for the Tier IV Defined Contribution Plan to mirror the current default investment option (GoalMaker Moderate Portfolio) utilized by the ARP, 403(b) and 457 Plans. Chairman asked if there was any discussion. There being no discussion he called for a vote. Mr. Ronald McLellan abstained. The remaining committee members voted unanimously in favor to approve the motion. Motion approved.
   
• Ms. Laila Mandour moved to adopt the Investment Subcommittee?s recommendation to adopt re-opening the Voya General Account (aka ARP Transition Fund) for the ARP SAG Award and ARP Hybrid Transfers within the ARP. When participants make election to transfer the funds, the estimated amount of monies will be invested in the Voya General Account (aka ARP Transition Fund) for the purpose of preservation of principal. The Division is instructed to keep the commission informed regarding communication with the participants to ensure that participants are fully informed. Chairman asked if there was any discussion. There was discussion. Matter was called to vote. Mr. Charles Casella opposed the motion. Mr. Ronald McLellan abstained. The remaining committee members voted unanimously in favor to approve the motion. Motion approved.
  

With no further business before the Commission, Ms. Laila Mandour moved to adjourn at 9:18am. The Commission voted unanimously to adjourn.

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