DRAFT
STATE OF CONNECTICUT
STATE EMPLOYEES RETIREMENT COMMISSION

A regular meeting of the State Employees Retirement Commission (the "Commission") was held on August 18, 2016, in 7th Floor Conference Room at 55 Elm Street, Hartford Connecticut. The meeting convened at 9:00 a.m. and the following members of the Commission were present:

The following members of the Commission were absent:

Also present were:

A. Call to Order

Chairman Adomeit called the meeting to order at 9:12 am

B. Chairman’s Report:

Chairman Adomeit told the Commission that a replacement was identified for Mr. Landry’s seat when he retires and he asked the Commission if they would like to hear from his replacement at some point.

C. Division Director's Report

The August retirement payroll is closing today and we have 190 retirements (154 regular, 15 Hybrids, 12 Voluntary Pending and 9 Disability).

For the ARP to Hybrid transfers there are a total of 1,897 with 392 retirees and 1,492 transfers. We continue to work through the backlog of transfers with 629 remaining to be completed.

Pending Disability Applications as of July 31, 2016


Pending Applications:  
 317
applications preliminarily reviewed (134)
applications waiting for documentation (183)
Applications scheduled for upcoming MEB meetings:    53
Total Pending:    370

 

For the month of July
Number of Applications Received    33
Number of Applications on Agenda    13
Number of Applications Approved    11

The next available meeting date to schedule is September 2016/October 2016.

The Division has received requests from the Montville Fire and the Hamden firefighter employees regarding MERS membership.

The Division has begun the work on the Employee Benefit Statements which are planned for release in October.

Deputy Comptroller Martha Carlson gave an overview of the pension module’s progress. Currently, there have been about 1500 final audits and there are 1200 final audits from the backlog that are ready to go in September. After that, 1000-1500 a month will be finalized. As the auditors are moving along, each month the finalizations get more complicated. The current backlog that still exists is 12,000-13,000 which is down from 15,000. Mr. Luciano pointed out that the Commission gave the authority to not complete the audits chronologically.

Core CT staff have two payroll cycles before they go live with UCONN.

i. At 9:17 a.m., Mr. Luciano moved, seconded by Mr. Poulin to amend the agenda to include the Actuarial Subcommittee SERS Experience Report.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to amend the agenda to include the Actuarial Subcommittee SERS Experience Report.


D. New Matters

1. Request Commission Approval of July 21, 2016 Minutes.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the July 21, 2016 minutes.
ii. Ms. Mandour abstained.
iii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iv. The Commission voted in the majority to approve the July 21, 2016 minutes.
 
2. Request Commission Approval of the State Employees Retirement Commission Chairman’s Per Diem Expenses.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Chairman’s Per Diem Expenses.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the State Employees Retirement Commission Chairman’s Per Diem Expenses.
 
3. Request Commission Approval of the State Employees Retirement Commission Union Trustee’s Per Diem and Travel Expenses.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Union Trustee's Per Diem and Travel Expense.
ii. Mr. Poulin abstained.
iii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iv. The Commission voted in the majority to approve the State Employees Retirement Commission Union Trustee's Per Diem and Travel Expenses.
 
4. Request Commission Approval of the State Employees Retirement Commission Management Trustee’s Per Diem and Travel Expenses.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Management Trustee's Per Diem and Travel Expense.
ii. Mr. Cosgrove abstained.
iii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iv. The Commission voted in the majority to approve the State Employees Retirement Commission Management Trustee's Per Diem and Travel Expenses.
 
5. Request Commission Review of the July 2016 Billing from Robinson & Cole.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the billing from Robinson & Cole.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the State Employees Retirement Commission July 2016 billing from Robinson & Cole.

6. Request Commission Acceptance of the July 2016 Invoices from Ford Harrison.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the billing from Ford Harrison.
ii. Chairman asked if there was any discussion.
iii. Chairman Adomeit pointed out that the invoices show that the Commission owes Ford Harrison money however; they are waiting on a document before the Commission pays Ford Harrison.
iv. The Commission voted unanimously to approve the State Employees Retirement Commission July 2016 billing from Ford Harrison.
 
7. Request Commission Approval of the Connecticut State Employees Retirement System Service Retirements for the Month of July 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut State Employees Retirement System Service Retirements for the Month of July 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Connecticut State Employees Retirement System Service Retirements for the Month of July 2016.
 
8. Request Commission Approval of the Connecticut State Employees System Disability Retirements for the Month of July 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut State Employees System Disability Retirements for the Month of July 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Connecticut State Employees System Disability Retirements for the Month of July 2016.
 
9. Request Commission Approval of the Connecticut State Employees System Voluntary Pending Retirements for the Month of July 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve Connecticut State Employees System Voluntary Pending Retirements for the Month of July 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve Connecticut State Employees System Voluntary Pending Retirements for the Month of July 2016.
 
10. Request Commission Approval of the Connecticut State Employees System Retroactive Retirements for the Month of July 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve Connecticut State Employees System Retroactive Retirements for the Month of July 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve Connecticut State Employees System Retroactive Retirements for the Month of July 2016.
 
11. Request Commission Approval of the Connecticut State Employees System Pre-Retirement Death Benefit Retirements for the Month of July 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve Connecticut State Employees System Pre-Retirement Death Benefit Retirements for the Month of July 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve Connecticut State Employees System Pre-Retirement Death Benefit Retirements for the Month of July 2016.

12. Request Commission Approval of the Municipal Retirement System Retirements
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Municipal Retirement System Retirements.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Municipal Retirement System Retirements.
 
13. Request Commission Approval of the Probate Judges and Employees Retirement System Retirements for the month of August 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Probate Judges and Employees Retirement System Retirements for August 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Probate Judges and Employees Retirement System Retirements for August 2016.

14. Request Commission Approval of the Probate Judges and Employees Retirement Fund Personnel Expenses for the Pay Period June 9, 2016 Through July 7, 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Probate Judges and Employees Retirement Fund Personnel Expenses for the Pay Period June 9, 2016 Through July 7, 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Probate Judges and Employees Retirement Fund Personnel Expenses for the Pay Period June 9, 2016 Through July 7, 2016.
 
15. Request Commission Acceptance of the Recommendations of the Subcommittee on Hazardous Duty Service Credit Rendered on August 2, 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to accept the recommendations of its subcommittee on Hazardous Duty Service Credit Rendered on August 2, 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to accept the recommendations of the subcommittee on Hazardous Duty Service Credit Rendered on August 2, 2016.
 
16. Request Commission Acceptance of the Recommendations of the Subcommittee on Purchase and Related Matters Rendered on July 20, 2016.
i. Mr. Luciano pointed out that Ms. Diaz was in attendance and was hoping that she could address the Commission. He added that if she was denied to speak at the meeting then she would have the opportunity at the next meeting. Mr. Casella added that she should come back and address the Commission when there is a court reporter there and Chairman Adomeit agreed. He went on that there is a process that needs to be followed and we need to hear the recommendations from the Purchasing and Other Related Matters Subcommittee. Mr. Coffey and Mr. Carey echoed Mr. Casella’s statement.
ii. Mr. Carey motioned, seconded by Mr. Greatorex to accept the recommendation of the Subcommittee on Purchase and Related Matters Rendered on July 20, 2016.
iii. Mr. Luciano abstained.
iv. Chairman asked if there was any discussion. There being no discussion he called for a vote.
v. The Commission voted in the majority to accept the recommendations of the Subcommittee on Purchase and Related Matters Rendered on July 20, 2016.

 
17. Request Commission Acceptance of the Recommendations of the Investment Subcommittee Meeting Rendered On August 9, 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to accept the recommendations on the Investment Subcommittee Meeting Rendered On August 9, 2016.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to accept the recommendations of its subcommittee on the Investment Subcommittee Meeting Rendered On August 9, 2016.
 
18. Request Commission Approval of the Actuarial Subcommittee Valuation Report for the Probate Judges and Employees Retirement System as Of December 31, 2015.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Actuarial Subcommittee Valuation Report for the Probate Judges and Employees Retirement System As Of December 31, 2015.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote.
iii. The Commission voted unanimously to approve the Actuarial Subcommittee Valuation Report for the Probate Judges and Employees Retirement System As Of December 31, 2015.

19. Soracchi Matter: Petitioner's Request For 90-Day Extension of Time. Discussion And Possible Action.
i. Mr. Coffey moved, seconded by Mr. Luciano to grant the request for a 90 day extension of time until October 31, 2016. In addition, correspondence will be sent explaining that this is the final extension and no further extension will be granted.
ii. Chairman asked if there was any discussion. There being no discussion he called for a vote,
iii. The Commission voted unanimously to grant the request for a 90 day extension.
 
20. Request Commission Approval of the Actuarial Subcommittee Connecticut State Employees Retirement System Experience Investigation for the Four- Year Period Ending June 30, 2015.
i. Mr. Poulin explained that the actuarial subcommittee met yesterday and the report is in front of the Commission for approval. The report covers two main categories. Demographic assumptions and the review of economic assumptions such as rate of return and inflation rate.
ii. Mr. Luciano moved, seconded by Mr. Poulin to approve the Actuarial Subcommittee Connecticut State Employees Retirement System Experience Investigation for the Four- Year Period Ending June 30, 2015.
iii. Ms. Grasso questioned why these actuarial assumptions needed to be approved. It was explained that the Actuarial Subcommittee is charged with writing this report.
iv. Mr. Luciano moved, seconded by Mr. Poulin to accept the Actuarial Subcommittee Connecticut State Employees Retirement System Experience Investigation for the Four- Year Period Ending June 30, 2015. Chairman asked if there was any discussion. There being no discussion he called for a vote.
v. The Commission voted unanimously to accept the Actuarial Subcommittee Connecticut State Employees Retirement System Experience Investigation for the Four- Year Period Ending June 30, 2015.

Executive Session
Mr. Luciano moved, seconded by Mr. Greatorex to go into executive session at 10:02 a.m. Ms. Halpin, Mr. Newman, Attorney Braswell, Attorney Rose, Attorney Cieslak and Attorney Barth were invited by the Commission to stay for executive session to discuss items 1-9. There were no motions made on items 1-6.

1. Bouchard - pending litigation - Update.
2. Brown - pending litigation - Update.
3. Maturo - pending litigation - Update.
4. Whitman - pending litigation - Update.
5. Carver - pending litigation - Update.
6. Walenski - pending litigation - Update.
7. Krawiec petition for declaratory ruling - written legal opinion - Update and possible action.

i. Mr. Luciano made a motion to approve the declaratory ruling for Ms. Krawiec, seconded by Mr. Greatorex.
ii. The Commission voted unanimously to approve the declaratory ruling for Ms. Krawiec.

8. CMERS, suspension of pension payments- written legal opinion and possible action

i. Mr. Luciano made a motion, seconded by Mr. Carey to suspend CMERS pension payments for the following people: Mr. Richard Belden, Ms. Halina Fajer-Wolczacki, Ms. Betsey Mauri, Ms. Judith Nagle, Ms. Kim Walton, Mr. John Harkins III, Mr. Lance Helms, Ms. Cheryl Meturah, Mr. Hector Ramos, Ms. Sara Seney, Mr. Timothy Webb, Mr. John Lupo, Mr. Charles Leavens.
ii. The Commission voted unanimously to suspend CMERS pension payments for the above people.

9. Discussion on recoupment- written legal opinion. Discussion- No motion was made

Adjournment
With no further business before the Commission, Mr. Luciano moved, seconded by Mr. Greatorex to adjourn at 10:08 a.m. The Commission voted unanimously to adjourn.

 

Respectfully Submitted by:

__________________________________
Peter Adomeit, Chairman

___________________________________
Prepared by Brenda K. Halpin
Director Retirement Service Division
 

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