DRAFT

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

June 21, 2012

TRUSTEES PRESENT
Peter R. Blum
Bob Baus
Charles Casella
Claude Poulin
Steve Greatorex
James Dzurenda
Robert Coffey
Richard Cosgrove
Ronald McLellan
Linda Yelmini
Thomas Culley
Sandra Fae Brown-Brewton

ABSENT
Sal Luciano
Paul Fortier
Michael Carey

EX OFFICIO MEMBERS
Deputy Comptroller Martha Carlson, Designee for State Comptroller Kevin Lembo
Lee Ann Palladino, CIO, Designee for State Treasurer Denise Nappier

MUNICIPAL LIAISON
Thomas Landry

OTHERS PRESENT
Brenda K. Halpin, Director, Retirement Services Division
Attorney Helen Kemp, Asst. Director and Division Counsel, Retirement Services
Colin Newman, Asst. Director, Retirement Services Division
Jeanne Kopek, Asst. Director, Retirement Services Division
Kishore Solanki, Asst. Director, Retirement Services Division
Bonnie Price, Asst. Director, Retirement Services Division
Natalie Braswell, Assistant State Comptroller
Peggy Gray, Executive Secretary, Retirement Services Division

GUESTS
George Spurlock, CEIU

CALL TO ORDER

The Chairman called the meeting to order at 9:04 a.m. On behalf of the entire Commission the Chairman expressed his condolences to Trustee Paul Fortier on his mother's passing.

The Chairman also acting on behalf of the Commission presented Attorney Helen Kemp with a gift to recognize all of her hard work, dedication and legal acumen in working with the Commission. Best wishes were offered to her in her new position at the Office of Labor Relations.

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORTS

I would like to introduce Kishore Solanki - Assistant Division Director for MERS and Counseling. Ulstine (Bonnie) Price - Assistant Division Director for Retirement Payroll and Purchasing.

The forms for the ARP to Hybrid transfer are complete and are on the website, the letters to all active ARP members will be mailed and the Statewide memorandum to the agencies will been distributed.

Following the close of the June 2012 retirement payroll, the current backlog of unfinalized retirement records is approximately 12,882. The Division processed 139 new retirees (122 normal, 17 disabilities) to payroll for June. Finalizations for the month were 140.

I would like to provide you with an update on the finalizations in comparison to prior calendar years: As of the June payroll we have finalized 906 retirements at this time last year it was 389 were finalized and for 2010 we had finalized 683. Based on the changes that were made to the audit unit we have finalized more retirements than we had in the previous two years.

Pending Disability Applications as of May 31, 2012

FOR THE MONTH OF MAY

The next available meeting for scheduling is September 2012.

An update on the RFI for the PeopleSoft Pension Module we received questions from the potential vendors last week and those have been answered and are posted to the OSC website. The next milestone will be the receipt of the responses to the RFI due in July.

NEW MATTERS

1. REQUEST COMMISSION APPROVAL OF THE MAY 17, 2012
MINUTES Ms. Brown-Brewton moved, seconded by Mr. Greatorex to approve the May 17, 2012 Minutes. All voted in favor

Unanimous Decision

2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSES REIMBURSEMENT. Ms. Yelmini moved, seconded by Mr. Baus 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 STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF MAY
2012. Ms. Brown-Brewton moved, seconded by Mr. Poulin to approve the State Employees Retirement System Service retirements for the month of May 2012.
All voted in favor.

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM VOLUNTARY PENDING DISABILITY RETIREMENTS FOR THE MONTH OF MAY 2012. Ms. Brown-Brewton moved, seconded by Mr. Poulin to approve the State Employees Retirement System Voluntary Pending Disability retirements for the month of May 2012. All voted in favor

Unanimous Decision

5. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF MAY 2012. Ms. Brown-Brewton moved, seconded by Mr. Poulin to approve the State Employees Retirement System Disability retirements for the month of May 2012. All voted in favor

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES PRE RETIREMENT DEATH BENEFIT RETIREMENTS FOR THE MONTH OF MAY 2012. Ms. Brown-Brewton moved, seconded by Mr. Poulin to approve the State Employees Pre-Retirement Death Benefit retirements for the month of May 2012. All voted in favor

Unanimous Decision

7. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING BOARD FROM ITS MEETING ON June 1, 2012 RELATIVE TO APPLICATIONS FOR DISABILITY RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM. Ms. Brown-Brewton moved, seconded by Mr. Poulin to accept the recommendations of the Medical Examining Board from it's meeting on June 1, 2012, relative to applications for Disability Retirement received from the Municipal Employees Retirement System. All voted in favor

Unanimous Decision

8. REQUEST COMMISSION APPROVAL OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND PERSONNEL EXPENSES FOR THE MONTH OF MAY 2012. Mr. Baus moved, seconded by Mr. Poulin to approve the Connecticut Probate Judges and Employees Retirement Fund Personnel Expenses for the month of May 2012. All voted in favor

Unanimous Decision

9. REQUEST COMMISSION APPROVAL OF THE JUDGES, FAMILY SUPPORT MAGISTRATES AND COMPENSATION COMMISSIONERS RETIREMENT SYSTEM SPOUSE RETIREMENTS. Mr. Baus moved, seconded by Mr. Poulin to approve the Judges, Family Support Magistrates and Compensation Commissioners Retirement System Spouse Retirements. All voted in favor

Unanimous Decision

10. REQUEST COMMISSION APPROVAL OF THE MUNICIPAL EMPLOYEE RETIREMENT SYSTEM RETIREMENTS. Mr. Baus moved, seconded by Mr. Poulin to approve the Municipal Employee Retirement System retirements. All voted in favor

Unanimous Decision

11. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION MANAGEMENT TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF MAY 2012. Ms. Brown-Brewton moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Management Trustee's Per Diem and Travel expenses reimbursements for the month of May 2012. All voted in favor Mr. Baus abstained

Majority Decision

12. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF MAY 2012. Ms. Brown-Brewton moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Union Trustee's Per Diem and Travel expenses reimbursements for the month of May 2012. All voted in favor Mr. Poulin abstained

Majority Decision

13. REQUEST COMMISSION ACCEPTANCE OF THE ACTUARIAL VALUATION OF THE PROBATE JUDGES AND EMPLOYEES RETIREMENT SYSTEM FOR CALENDAR YEAR ENDING DECEMBER 31, 2011. Mr. Poulin moved, seconded by Mr. Baus to accept the Actuarial Valuation of the Probate Judges and Employees Retirement System for Calendar Year Ending December 31, 2011. All voted in favor

Unanimous Decision

14. DISCUSSION WITH REGARD TO A SURVEY OF THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREES. The purpose of the survey was discussed at length and at the request of Deputy Comptroller Martha Carlson Mr. McLellan moved, seconded by Mr. Greatorex to table this matter to the July meeting. All voted in favor

Unanimous Decision

At 9:50 a.m. Ms. Brown-Brewton moved, seconded by Ms. Yelmini to move into Executive Session to Discuss Items 15, 16 and 17. Brenda Halpin, Helen Kemp and Natalie Braswell were asked to stay. All voted in favor.

At 10:10 Executive Session ended. Ms. Brown-Brewton moved, seconded by Ms. Yelmini to go back into Regular Session to report out the following:

15. REQUEST COMMISSION APPROVAL OF THE PROPOSED SUPPLEMENTAL DECLARATORY RULING IN THE MATTER OF DANIEL MICARI ON THE ISSUE OF WHETHER PRIOR TO 1992 DANIEL MICARI WAS GIVEN NOTICE THAT THERE WAS AN OPPORTUNITY TO SEEK SERVICE CREDIT FOR EMPLOYMENT WITH ANOTHER STATE . Approval is conditional (with minor corrections as noted in Executive session) based upon information in the transcript indicating that the declaratory ruling is limited to the sole issue of notice and the "Massachusetts" service credit is to be handled separately. All voted in favor

Unanimous Decision

16. DISCUSSIN ON STATUS AND STRATEGY WITH REGARD TO THE LITIGATION ENTITLED HHB - CV12-6015373 BOUCHARD ET AL. V. STATE EMPLOYEES RETIREMENT COMMISSION No motion was made on this item.

17. DISCUSSION OF DRAFT OUTSIDE COUNSEL'S PRIVATE LETTER RULING TO IRS FOR THE PURPOSE OF INCLUSION OF CERTAIN POSITIONS UNDER IRS QUALIFED PARTICIPATION DEFINITION. Ms. Brown-Brewton moved, seconded by Ms. Yelmini to approve with changes made in Executive Session and with discussions with Ice Miller. All voted in favor.

Unanimous Decision

Concern was expressed by some of the Trustees that with Attorney Kemp's departure there is a void in legal expertise on some of the issues before the Commission. The Commission accepted Chairman Blum's offer to step in on some of these issues and noted that Ms. Yelmini has authorized the request to allow Attorney Kemp to continue as the Commission's pension counsel and provide advice as requested by the Commission on an interim basis.

ADJOURNMENT

At 10:17 Mr. Poulin moved, seconded by Mr. Greatorex to adjourn. All voted in favor.

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