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July 18, 2013
TRUSTEES PRESENT
Peter Blum
Robert Baus
Sandra Fae Brown-Brewton
Michael Carey
Charles Casella
Robert Coffey
Steve Greatorex
Sal Luciano
Laila Mandour
Ronald McLellan
Claude Poulin
Linda Yelmini
TRUSTEES ABSENT
Richard Cosgrove
Paul Fortier
James Dzurenda
EX OFFICIO MEMBERS
Martha Carlson, Deputy Comptroller
Lee Ann Palladino, CIO, Treasurer'S
Office - Absent
MUNICIPAL LIAISON
Thomas Landry
OTHERS PRESENT
Brenda Halpin, Director, Retirement Services Division
Natalie Braswell, Assistant State Comptroller
Peggy Gray, Executive Secretary, Retirement Services
Tara Downes, Communications Officer, State Comptroller'S
Office
GUESTS
Attorney Michael Rose
Attorney Nicole Dorman
Attorney Andrew Houlding
David Leff
Attorney Bruce Barth
Attorney Christie Cynthia
George Spurlock, CEUI
Jon Lender, Hartford Courant
CALL TO ORDER
The Chairman called the meeting to order at 9:10 a.m.
CHAIRMAN'S
REPORT
The Chairman reported that PSAs were signed with Robinson and Cole for the SAG
award, Rose Kallor, as Counsel for the Commission, and Class Action
Administration, Inc. for the Bouchard matter.
DIRECTOR'S
DIVISION AND SUBCOMMITTEE REPORTS
An update to the Subcommittee Report - the Investment Subcommittee met yesterday
afternoon and has tentatively scheduled another meeting for August 14th in the
afternoon.
Today at noon is the close of the July 2013 retirement payroll, the Division
processed 364 new retirees (349 normal, 15 disabilities) to payroll. I will
report the finalizations next month because we expect to begin processing the
finalized applications during the month of August.
We have received a total of 669 requests to transfer from the ARP to Hybrid.
There are 120 retirees, 9 waivers and 3 prospective members.
Pending Disability Applications as of June 30, 2013
Pending Applications: 274
Preliminarily reviewed (59); waiting for documentation (215)
Applications scheduled for upcoming meetings: 142
Total Pending: 416
FOR THE MONTH OF JUNE
Number of Applications Received 31
Number of Applications on Agenda 47
Number of Applications Approved 24
At the present time, we are reviewing cases from the June 2013. The next
available meeting for scheduling is January 2014. We met with the MEB on June
24th to discuss the changes in legislation to the MERS Disability Standards.
On July 1st, the State Treasurer's office received a check in the amount of
$17,613,069.83 from the City of Bridgeport - Fire we were to receive
$22,490,181. The total funds received for Bridgeport Fire to date is
$40,122,888.83 against the $45 million originally agreed. If we do not receive
any additional funds, there will be new calculation to determine new annual
payment due.
For the Bridgeport Police the State Treasurer's office received a total amount
transferred to $80,199,980.00 required for their entry in CMERS in advance.
Following the Director'S
report discussion continued on how to fix the backlog
for Medical Examining Board. Different ideas were presented then Ms. Yelmini
moved, seconded by Mr. Baus to have the Legal and Personnel Subcommittee take a
look at this ongoing issue. All voted in favor
Unanimous Decision
NEW MATTERS
1. REQUEST COMMISSION APPROVAL OF THE JUNE 20, 2013 MINUTES Mr. Coffey stated
that the draft minutes needed to be corrected to include two items that are
missing from the draft but that had been included in his motion concerning the
matters discussed during Executive Session.
He explained that the first item pertained to the part of the motion to give
Chairman Peter Blum authority on behalf of the Commission to execute a PSA with
Robinson and Cole on the SAG Award. The words "and other legal advice and
services as requested by the Connecticut State Employees Retirement Commission"
were part of the motion and should have been included after the words "SAG
Award".
He noted that the second item that is missing from the draft Commission meeting minutes but was included in his motion was the third recommendation in the June 7, 2013 subcommittee meeting. That is the recommendation that the Commission grant the subcommittee the authority to assign specific work to Commission legal counsel.
Following discussion Mr. Coffey moved, seconded by Mr. Poulin to correct the
minutes of the June 20, 2013 meeting concerning the matters discussed in
Executive Session to include the words, "and other legal advice and services as
requested by the Connecticut State Employees Retirement Commission" after the
words "SAG Award". And in addition to include the words, "and to give the
subcommittee the authority to assign specific work to Commission legal counsel"
after the words "Bouchard matter".
Mr. Baus, Mr. Carey, Mr. Casella, Mr. Coffey, Ms. Mandour, Mr. Greatorex, Mr.
Luciano, Mr. McLellan, Mr. Poulin and Ms. Yelmini voted yes. Ms. Brewton-Brown
abstained
Majority Decision
2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSES REIMBURSEMENTS Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Chairman'S Per Diem expenses reimbursements. All voted in favor
Unanimous Decision
3. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF JUNE 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Service retirements for the month of June, 2013. All voted in favor
Unanimous Decision
4. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF JUNE 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Disability retirements for the month of June, 2013. All voted in favor
Unanimous Decision
5. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES SYSTEM VOLUNTARY PENDING RETIREMENTS FOR THE MONTH OF JUNE 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees System Voluntary Pending retirements for the month of June, 2013. All voted in favor
Unanimous Decision
6. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT STATE EMPLOYEES RETIREMENT SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OF JUNE 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve the Connecticut State Employees Retirement System Retroactive retirements for the month of June, 2013. All voted in favor
Unanimous Decision
7. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr. Poulin to approve the Municipal Retirement System Retirements. All voted in favor
Unanimous Decision
8. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT SYSTEM RETIREMENTS FOR THE MONTH OF JULY 2013 Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut Probate Judges and Employees Retirement System retirements for the month of July, 2013. All voted in favor
Unanimous Decision
9. REQUEST COMMISSION APPROVAL OF THE JUDGES, FAMILY SUPPORT MAGISTRATES AND COMPENSATION COMMISSIONERS RETIREMENT SYSTEM RETIREMENTS Mr. Luciano moved, seconded by Mr. Greatorex to approve the Judges, Family Support Magistrates and Compensation Commissioners Retirement System retirements once it was correctly recorded that Judge Constance Epstein'S actual time of service was 10 years, 10 months. All voted in favor
Unanimous Decision
10. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND
EMPLOYEES RETIREMENT FUND PERSONNEL EXPENSES PAY PERIOD
MAY 17 THROUGH JUNE 16, 2013 Mr. Luciano moved, seconded by Mr. Greatorex to
approve the Connecticut Probate Judges and Employees Retirement Fund Personnel
Expenses for the pay period May 17 through June16, 2013. All voted in favor
Unanimous Decision
11. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING BOARD FROM ITS MEETING ON APRIL 26 AND MAY 24, 2013 RELATIVE TO APPLICATIONS FOR DISABILITY RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM Mr. Luciano moved, seconded by Mr. Baus to open this item for discussion. Following discussion Mr. Luciano moved, seconded by Ms. Yelmini to NOT accept the recommendations of the Medical Examining Board from its meeting on April 26 and May24 and send it back to the Medical Examining Board to look at it again. This item was then tabled to the next meeting. All voted in favor of tabling this item till next month
Unanimous Decision
12. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION MANAGEMENT TRUSTEES PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS Mr. Luciano moved, seconded by Ms. Brown-Brewton to approve the State Employees Retirement Commission Management Trustee'S Per Diem and Travel Expenses reimbursements. All voted in favor Mr. Baus abstained
Majority Decision
13. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEES PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS MR. Luciano moved, seconded by Mr. Baus to approve the State Employees Retirement Commission Union Trustee'S Per Diem and Travel Expenses reimbursements. All voted in favor Mr. Poulin abstained
Majority Decision
14. REQUEST APPROVAL OF PARTICIPATION OF THE BRIDGEPORT POLICE, IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM (CMERS), EFFECTIVE JULY 1, 2013 Mr. Luciano moved, seconded by Mr. Poulin to approve of the participation of the Bridgeport Police in CMERS, effective July 1, 2013. All voted in favor
Unanimous Decision
15. REQUEST COMMISSION CONSIDERATION OF THE RECOMMENDATIONS OF ITS SUBCOMMITTEE ON REGULATIONS AND OVERPAYMENTS FROM ITS MEETING ON JUNE 12, 2013 Mr. Luciano moved, seconded by Mr. Greatorex to accept the recommendations of the Regulations and Overpayment Subcommittee from its meeting on June 12, 2013. All voted in favor
Unanimous Decision
16. REQUEST COMMISSION ACCEPTANCE OF THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM (CMERS) ACTUARIAL EXPERIENCE STUDY AS OF JUNE 30, 2012 Mr. Luciano moved, seconded by Mr. Casella to accept the Connecticut Municipal Employees Retirement System (CMERS) Actuarial Experience Study. All voted in favor
Unanimous Decision
17. REQUEST COMMISSION ACCEPTANCE OF THE POLICE AND FIRE SURVIVOR BENEFIT FUND ACTUARIAL EXPERIENCE STUDY AS OF JUNE 30, 2012 Mr. Luciano moved, seconded by Mr. Casella to accept the Police and Fire Survivor Benefit Fund Actuarial Experience Study. All voted in favor
Unanimous Decision
18. REQUEST COMMISSION CONSIDERATION OF THE REQUEST FROM RETIREE DAVID LEFF
THAT THE COMMISSION RECONSIDERS THE MEDICAL EXAMINING BOARD'S
LEGAL AUTHORITY TO
RESCIND A MEMBER'S
DISABILITY ALLOWANCE
Mr. Leff'S
attorney Andrew Houlding stated the case before the Commission.
Attorney Michael Rose and Attorney Nicole Dorman had questions for Attorney
Houlding. No decision was made
TABLED MATTERS
A. REQUEST RECEIVED FROM THE BOARD OF REGENTS FOR HIGHER EDUCATION FOR COMMISSION APPROVAL TO PROCESS A POSTHUMOUS DISABILITY RETIREMENT APPLICATION ON BEHALF OF DECEASED EMPLOYEE JILL FERRIAOLO - Tabled till the August meeting
B. REQUEST PARTICIPATION OF THE LISBON SCHOOL DISTRICT CENTRAL OFFICE STAFF,
IN THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT SYSTEM EFFECTIVE SEPTEMBER 1,
2013 - Tabled until confirmation from the Town of Lisbon is received
C. DISCUSSION OF LEGISLATION THAT IMPACTS THE RETIREMENT COMMISSION. Mr. Luciano
moved, seconded by Mr. Poulin that this go before the Legal and Personnel
Subcommittee for discussion. All voted in favor
Unanimous Decision
D. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING
BOARD FROM ITS MEETING ON APRIL 5, 2013 RELATIVE TO APPLICATIONS FOR DISABILITY
RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM - Item is
tabled until the August meeting
At 12:03 on a motion from Mr. Casella, seconded by Mr. Greatorex, the Commission went into Executive Session. All voted in favor
EXECUTIVE SESSION
DISCUSSION OF ATTOREY CLIENT RELATIONS - nothing reported out
UPDATE FROM ICE MILLER - tabled to the August meeting
SUBCOMMITTEE PERSONNEL PROCEDURES - Chairman will follow up
MATTER REGARDING PENDING PRIVATE LETTER RULING CONCERNING IRS SECTION 414 (h)(2) - Ms. Yelmini and Mr. Greatorex will be attending the meeting on August 12th in Washington DC with Attorney Barth.
COST ESTIMATE FOR LANGELY MATTER IN 2007 IN CONJUNCTION WITH PENDING BOUCHARD LITIGATION - this matter was not discussed due to the length of the meeting.
ADJOURNMENT
At 12:55 p.m. Mr. Casella moved to come out of Executive Session, seconded by
Mr. Carey. At 12:56 p.m. the meeting was adjourned by unanimous decision.
| _________________________ | _______________________ |
| Brenda K. Halpin, Director | Peter R. Blum, Chair |
| Retirement Services Division |
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