MINUTES OF MEETING
STATE EMPLOYEES RETIREMENT COMMISSION
55 ELM STREET
HARTFORD, CT 06106

December 20, 2012

TRUSTEES PRESENT
Peter Blum
Robert Baus
Sandra Fae Brown-Brewton
Michael Carey
Charles Casella
Claude Poulin
Steve Greatorex
Thomas Culley
Ronald McLellan
Linda Yelmini
Sal Luciano
Paul Fortier
Robert Coffey

TRUSTEES ABSENT
James Dzurenda
Richard Cosgrove

EX OFFICIO MEMBERS
Deputy Comptroller Martha Carlson
Lee Ann Palladino, CIO, Office of the State Treasurer

MUNICIPAL LIAISON
Thomas Landry - Absent

OTHERS PRESENT
Brenda Halpin, Director, Retirement Services Division
Colin Newman, Asst. Director, Retirement Services Division
Kishore Solanki, Asst. Director, Retirement Services Division
Natalie Braswell, Assistant State Comptroller
Peggy Gray, Executive Secretary, Retirement Services Division

GUESTS
George Spurlock, CEIU
Darek Massalski

CALL TO ORDER
The Chairman called the meeting to order at 9:06 A.M.

CHAIRMAN'S REPORT
The Chairman asked for a moment of silence for those affected in the Sandy Hook shooting.

Thomas Culley announced that this is his last Retirement Commission meeting. It has been a pleasure serving with all the Trustees. Laila Mandour, President of A & R Employees Union will be taking Mr. Culley's place.

Mr. Coffey stated what a pleasure it has been working with Mr. Culley over a span of thirty years.

DIVISION DIRECTOR'S ADMINISTRATIVE AND SUBCOMMITTEE REPORTS
Following the close of the December 2012 retirement payroll, the Division processed 108 new retirees (91 normal, 17 disabilities). Finalizations for the month were 137. The current backlog of unfinalized retirement records is approximately 12,975.

We have received 309 requests to transfer from the ARP to Hybrid. There are 13 new retirees that have been placed on the December payroll, for a total of 40 Hybrid retirees which are being finalized at the same time. Acknowledgement letters are being sent to all participants when the funds are transferred from ING or TIAA-CREF for the encumbered funds.

Pending Disability Applications as of November 30, 2012

At the present time, we are reviewing August 2012 cases. The next available meeting for scheduling is February 2013.

The Retirement Payroll conversion project is continuing to move forward and we are on target for the March 2013 date. We are attending weekly meetings with the conversion team.

We are also working on drafting the Actuarial RFP's for both SERS and MERS.

NEW MATTERS

1. REQUEST COMMISSION APPROVAL OF THE NOVEMBER 15, 2012
MINUTES Mr. Luciano moved, seconded by Mr. Baus to approve the Minutes of November 15, 2012 as amended. All voted in favor

Unanimous Decision

2. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION CHAIRMAN'S PER DIEM EXPENSES REIMBURSEMENT Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Chairman's Per Diem expenses reimbursement. All voted in favor

Unanimous Decision

3. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM SERVICE RETIREMENTS FOR THE MONTH OF NOVEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Service Retirements for the month of November 2012. All voted in favor

Unanimous Decision

4. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM VOLUNTARY DISABILITY RETIREMENTS FOR THE MONTH OF NOVEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Disability Retirements for the month of November 2012. All voted in favor

Unanimous Decision

5. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM DISABILITY RETIREMENTS FOR THE MONTH OF NOVEMBER, 2012. Mr. Luciano moved, seconded by Mr. Greatores to approve the State Employees Retirement System Disability retirements for the month of November 2012. All voted in favor

Unanimous Decision

6. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM PRE RETIREMENT DEATH BENEFIT RETIREMENTS FOR THE MONTH OF NOVEMBER 2012 Mr. Luciano moved, seconded by Mr. Poulin to approve the State Employee Retirement System Pre Retirement Death Benefit for the month of NOVEMBER 2012. All voted in favor

Unanimous Decision

7. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT SYSTEM RETROACTIVE RETIREMENTS FOR THE MONTH OF NOVEMBER 2012. Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement System Retroactive retirements for the month of November 2012.

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

Unanimous Decision

9. REQUEST COMMISSION ACCEPTANCE OF RECOMMENDATIONS OF THE MEDICAL EXAMINING BOARD FROM ITS MEETING ON NOVEMBER 30, 2012 RELATIVE TO APPLICATIONS FOR DISABILITY RETIREMENT RECEIVED FROM THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM Mr. Luciano moved, seconded by Mr. Poulin to accept the recommendations of the Medical Examining Board from it's meeting on November 30, 2012 relative to applications for Disability Retirement received from the Municipal Employees Retirement System. All voted in favor

Unanimous Decision

10. REQUEST COMMISSION REVIEW OF THE CONNECTICUT PROBATE JUDGES AND EMPLOYEES RETIREMENT FUND PERSONNEL EXPENSES FOR THE MONTH OF OCTOBER 2012. Mr. Luciano moved, seconded by Mr. Baus to review the Connecticut Probate Judges and Employees Retirement Fund Personnel expenses for the month of October 2012. All voted in favor

Unanimous Decision

11. REQUEST COMMISSION REVIEW OF THE JUDGES, FAMILY SUPPORT MAGISTRATES AND COMPENSATION COMMISSIONERS RETIREMENT SYSTEM SPOUSE RETIREMENTS Mr. Luciano moved, second to review the Judges, Family Support Magistrates and Compensation Commissioners Retirement System Spouse Retirements. All voted in favor

Unanimous Decision

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

Majority Decision

13. REQUEST COMMISSION APPROVAL OF THE STATE EMPLOYEES RETIREMENT COMMISSION UNION TRUSTEE'S PER DIEM AND TRAVEL EXPENSES REIMBURSEMENTS FOR THE MONTH OF NOVEMBER 2012 Mr. Luciano moved, seconded by Mr. Greatorex to approve the State Employees Retirement Commission Trustees' Per Diem and Travel Expenses reimbursements for the month of November 2012. All voted in favor, Mr. Poulin abstained

Majority Decision

14. REQUEST COMMISSION CONSIDERATION OF THE RECOMMENDATIONS RECEIVED FROM ITS SUBCOMMITTEE ON PURCHASE OF SERVICE AND RELATED MATTERS Mr. Luciano moved, seconded by Mr. Baus to consider the recommendations received from it's Subcommittee on Purchase of Service and Related Matters. All voted in favor.

Unanimous Decision

15. REQUEST COMMISSION CONSIDERATION OF THE RECOMMENDATIONS RECEIVED FROM ITS SUBCOMMITTEE ON HAZARDOUS DUTY SERVICE CREDIT Mr. Luciano moved, seconded By Mr. Baus to consider the recommendations received from it's Subcommittee on Hazardous Duty Service Credit. All voted in favor

Unanimous Decision

16. REQUEST COMMISSION CONSIDERATION OF THE RECOMMENDATIONS RECEIVED FROM ITS SUBCOMMITTEE ON REGULATIONS AND OVERPAYMENT Mr. Luciano moved, seconded by Mr. Baus to consider the recommendations received from its Subcommittee on Regulations and Overpayment. All voted in favor

Unanimous Decision

17. REQUEST COMMISSION ACCEPTANCE OF THE RECOMMENDATIONS OF THE ACTUARIAL SUBCOMMITTEE TO ACCEPT THE MUNICIPAL EMPLOYEES RETIREMENT SYSTEM BIENNIAL VALUATION REPORT as of July 1, 2012 Mr. Luciano moved, seconded by Mr. Poulin to accept the recommendations of the Actuarial Subcommittee to accept the Municipal Employees Retirement System Biennial Valuation Report. All voted in favor

Unanimous Decision

18. REQUEST COMMISSION ACCEPTANCE OF THE RECOMMENDATIONS OF THE ACTUARIAL SUBCOMMITTEE TO ACCEPT THE POLICEMEN AND FIREMEN SURVIVORS' BENEFIT FUND VALUATION as of July 1, 2012 Mr. Luciano moved, seconded by Mr. Greatorex to accept the recommendations of the Actuarial Subcommittee to accept the Policemen and Firemen Survivors Benefit Fund Valuations as of July 1, 2012. All voted in favor

Unanimous Decision

19. REQUEST COMMISSION ACCEPTANCE OF THE RECOMMENDATIONS OF THE ACTUARIAL SUBCOMMITTEE TO ACCEPTANCE OF THE CONNECTICUT MUNICIPAL EMPLOYEES RETIREMENT FUND ADMINISTRATIVE RATE AND POLICE AND FIRE SURVIVORS' BENEFIT FUND ADMISISTRATIVE RATE for FY 2015. Mr. Luciano moved, seconded by Mr. Greatorex to accept the Connecticut Municipal Employees Retirement Fund Administrative Rate for FY 2014. All voted in favor

Unanimous Decision

20. REQUEST COMMISSION CONSIDERATION OF REQUEST FROM DAREK MASSALSKI THAT THE STATE EMPLOYEES RETIREMENT COMMISSION REVIEW AND RECONSIDER ITS June 14, 2012 DENIAL OF HIS REQUEST
Ms. Yelmini moved, seconded by Mr. Culley to deny reconsideration of the request of Darek Massalski. All voted in favor

ADJOURNMENT

At 10:24 Mr. Baus moved, seconded by Mr. Greatorex to adjourn the meeting. All voted in favor

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