STATE OF CONNECTICUT
STATE EMPLOYEES RETIREMENT COMMISSION

A regular meeting of the State Employees Retirement Commission (the "Commission") was held on March 17, 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 testified in front of the legislature’s Appropriation Committee in opposition to HB 5418, An Act Concerning Establishing the Anticipated Rate of Return for Investments in State Retirement Plans. The bill is proposing to shift the duty of setting the discount rate from the Retirement Commission to the advisory committee in the Treasurer’s office. He had the actuary with him to answer technical questions. He had heard from legislators that it was well received and that he made a "compelling case." He explained what the Retirement Commission does and how they are appointed. Deputy Comptroller Martha Carlson suggested that it may be a good idea to hand out a pamphlet to legislators explaining what the Retirement Commission does and what the Medical Examining Board does.

C. Division Director's Report

Division Director's Administrative Report

For the March retirement payroll we had 135 new retirees (116 normal, 7 disabilities, 6 Voluntary Pending and 6 Hybrid). There were 5 disabilities and 58 normal retirements finalized for the month. The current backlog of audits is 2,170 Disabilities and 12,351 regular retirements.

On the ARP to Hybrid transfers there are 365 retirees, 1,484 transfers, 9 waivers and 4 prospective for a total of 1,862. We were able to process 14 transfers this month and the outstanding number to be audited and processed is 648.

Pending Disability Applications as of February 29, 2016

Pending Applications:    279
applications preliminarily reviewed (104)
applications waiting for documentation (175)
Applications scheduled for upcoming MEB meetings:    39
Total Pending:    318
   
FOR THE MONTH OF February
Number of Applications Received    19
Number of Applications on Agenda    18
Number of Applications Approved    10

The next available meeting for scheduling is April 2016.

The Division has mailed out the second request for the 2016 MERS Re-employment Survey to 1048 members.

The Division has also received requests for participation in MERS for the Norwalk Police Department and the Town of Ledyard.

An accounts receivable for the restoration payment from Raymond LaChance pertaining to deceased retiree Francis LaChance. Per Natalie Charles with the U.S. District court the final judgment amount is $182,832.55 which takes into account interest. We received a payment of $500.00 from the U.S. District Court.

Copies of current pending legislation related to the Retirement Commission have also been distributed for your review.

Deputy Comptroller Martha Carlson gave an overview of the pension module. We are on schedule to complete the retirement calculation engine by May.

D. New Matters
1. Request Commission Approval of February 18, 2016 Minutes.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the February 18, 2016 minutes.
ii. Chairman asked if there was any discussion. There was no discussion.
iii. The Commission voted unanimously to approve the February 18, 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 unanimously to approve the State Employees Retirement Commission Union Trustee’s Per Diem and Travel Expenses.
 
4. Request Commission Review of the February 2016 Billing From Rose Kallor.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the billing from Rose Kallor.
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 February 2016 billing from Rose Kallor.
 
5. Request Commission Review of the February 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 February 2016 billing from Robinson & Cole.
 
6. Request Commission Approval of the Connecticut State Employees Retirement System Service Retirements for the Month of February 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut State Employees Retirement System Service 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 Connecticut State Employees Retirement System Service Retirements for the Month of February 2016.
 
7. Request Commission Approval of the Connecticut State Employees System Disability Retirements for the Month of February 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Connecticut State Employees System Disability Retirements for the Month of February 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 February 2016.
 
8. Request Commission Approval of the Connecticut State Employees System Voluntary Pending Retirements for the Month of February 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve Connecticut State Employees System Voluntary Pending Retirements for the Month of February 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 February 2016.
 
9. Request Commission Approval of the Connecticut State Employees System Retroactive Retirements for the Month of February 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve Connecticut State Employees System Retroactive Retirements for the Month of February 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 February 2016.
 
10. 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.
 
11. Request Commission Approval of the Municipal Retirement System Disability 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 Disability Retirements.

12. Request Commission Acceptance of the Recommendations by the Medical Examining Board of the Municipal Retirement System Disability Retirement Application Denials.
i. Mr. Luciano moved, seconded by Mr. Greatorex to accept the Recommendations of the Medical Examining Board of the Municipal Retirement System Disability Retirement Application Denials.
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 Medical Examining Board of the Municipal Retirement System Disability Retirement Application Denials.
 
13. Request Commission Approval of the Judges, Family Support Magistrates and Compensation Commissioners Retirement System Retirements for the month of February 2016.
i.. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Judges, Family Support magistrates and Compensation Commissioners Retirement System Retirements for the month of February 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 Judges, Family Support magistrates and Compensation Commissioners Retirement System Retirements for the month of February 2016.
 
14. Request Commission Approval of the Probate Judges and Employees Retirement System Retirements for the month of February 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Probate Judges and Employees Retirement System Retirements for February 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 February 2016.
 
15. Request Commission Approval of the Probate Judges and Employees Retirement Fund Personnel Expenses for the Pay Period January 8, 2016 Through February 4, 2016.
i. Mr. Luciano moved, seconded by Mr. Greatorex to approve the Probate Judges and Employees Retirement Fund Personnel Expenses for the Pay Period January 8, 2016 Through February 4, 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 January 8, 2016 Through February 4, 2016.

16. Rose Kallor Merger into Ford Harrison, Acceptance of Contract Modification.
i. Mr. Luciano moved, seconded by Mr. Greatorex to accept the Contract Modification of the Merger of Rose Kallor into Ford Harrison.
ii. Chairman asked if there was any discussion. There was discussion.
iii. Mr. Luciano raised a concern that Ford Harrison had a reputation for being a Union avoidance law firm. Chairman Adomeit responded that he knew of some law firms that were not Labor friendly but Ford Harrison was not known to be one of them. He assured the Commission that the same lawyers would still be working on behalf of the Commission just under a different name.
iv. The Commission voted unanimously to accept the Contract Modification of the Merger of Rose Kallor into Ford Harrison.

Executive Session

Mr. Luciano moved, seconded by Mr. Greatorex to go into executive session. Brenda Halpin, Colin Newman, Attorney Braswell and Attorney Rose were invited by the Commission to stay for executive session. The Commission went into executive session at 9:34 a.m.

1. The Commission came out of executive session at 9:46 a.m. and made the following motions:
 
i. Bridgeport payment deferral of payment request- Ms. Brown Brewton made a motion to amend the March 17th agenda to include, "An Act Concerning the City of Bridgeport and Annual Municipal Employees' Retirement System Amortization Contribution Payments," seconded by Ms. Mandour. All voted in favor. Mr. Cosgrove made the motion to allow the Office of the State Comptroller to track pending potential legislation and the Commission authorizes the Chairman to testify when necessary. Seconded by Ms. Brown Brewton. All voted in favor.

2. Mr. Luciano moved, seconded by Mr. Greatorex to go into executive session. The Commission went into executive session at 9:48 a.m. to discuss the Brown Litigation.
 

i. Brown Litigation- No action required.
 
3. Mr. Luciano moved, seconded by Mr. Greatorex to go into executive session. The Commission went into executive session at 9:50 a.m. to discuss the Walenski Litigation.
 
i. Walenski Litigation- No action required

4. Mr. Luciano moved, seconded by Mr. Greatorex to go into executive session. The Commission went into executive session at 9:52 a.m. to discuss the ARP default fund.
 

i. ARP default fund- Mr. Casella made a motion to forward the ARP default fund information from Bruce Barth to the investment subcommittee seconded by Mr. Coffey. All voted in favor.

Tabled Items

A. REQUEST COMMISSION APPROVAL OF THREE TABELED RECOMMENDATIONS FROM THE REGULATIONS AND OVERPAYMENT SUBCOMMITTEE MEETING THAT WAS HELD ON DECEMBER 21, 2015 Tabled Until the April 2016 Meeting.

Attorney Rose worked on the request from the last meeting. He asked if any of the Commission members had specific questions of what part of the attorney fees could be offset to ask him after the meeting.

B. REQUEST FROM KATHRYN MILLER FOR COMMISSION APPROVAL OF HER REQUEST TO RESCIND HER MEMBERSHIP IN SERS TIER II FOR THE PURPOSE OF ENROLLING IN TIER I. Tabled Until the April 2016 Meeting.

Attorney Rose told the Commission that he and Attorney Doyle went to the UCONN health center and Attorney Doyle obtained all the documents he needed and Attorney Rose reviewed them. Attorney Doyle will present the documents to the Commission when he deems fit.

Adjournment

With no further business before the Commission, Mr. Luciano moved, seconded by Mr. Greatorex to adjourn at 10:05 a.m. The Commission voted unanimously to adjourn.

 

Respectfully Submitted by:


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Peter Adomeit, Chairman


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Prepared by Brenda K. Halpin
Director Retirement Service Division

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