STATE EMPLOYEES RETIREMENT COMMISSION
SUBCOMMITTEE ON REGULATIONS AND OVERPAYMENTS

Minutes of the February 25, 2014 Meeting


TRUSTEES PRESENT: Michael Carey, Charles Casella, Robert Coffey, Laila Mandour


OTHERS PRESENT: Brenda Halpin, Director - Retirement Services Division, Kishore Solanki, Assistant Division Director, Kim McAdam, Retirement Systems Coordinator, Jean Reid, Accounting Specialist, Amy Schwarzkopf, Retirement Services Division


The meeting began at approximately 1:09 p.m.


Requests for Waiver of Overpayments


Kevin Connelly (SERS) - member - Overpayment due to Administrative Error


Action: Mr. Casella moved, Mr. Carey seconded to recommend denial of the waiver request due to administrative error. All voted in favor. Unanimous decision.


Roy Clemmens (SERS) - member - Due to Overpayment of Benefits


Action: Ms. Mandour moved, Mr. Coffey seconded to recommend denial of the waiver request due to failure to report receipt of Social Security Disability benefits. All voted in favor. Unanimous decision.


Raynell Wright (SERS) - member - Overpayment due to failure to report receipt of Social Security

Action: Mr. Casella moved, Mr. Coffey seconded to recommend denial of the waiver request due to failure to report receipt of Social Security benefits. All voted in favor. Unanimous decision.

Accounts Receivable Report - MERS - Action: The Accounts Receivable Report for MERS as of December 31, 2013 is to be provided to the full Retirement Commission at the March 20, 2014 meeting for review and discussion. All voted in favor. Unanimous decision.

Accounts Receivable Report - SERS - Action: The Accounts Receivable Report for SERS as of December 31, 2013 is to be provided to the full Retirement Commission at the March 20, 2014 meeting for review and discussion. All voted in favor. Unanimous decision.

Discussion on interest to be charged to outstanding overpayments - Action: Mr. Casella moved, seconded by Mr. Coffey to waive the interest for those not at fault or those that meet the first two tests, all other overpayments interest is to be collected. This topic is be added to the agenda of March 20, 2014 Retirement Commission meeting for discussion among all Trustees. All voted in favor. Unanimous decision.

Item to be researched - Is it possible to have the ComServ report run on a monthly basis instead of quarterly to assist with capturing information for overpayments in a timely manner?

Item to be researched - Is it possible to research requesting payment from a contingent annuitant if they had access to the funds in a joint account?


The meeting adjourned at approximately 2:35 p.m.

Return to Meetings, Agendas and Minutes Home Page
Return to Comptroller's Home Page