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Pensions and Benefits
APRIL 22, 2015 — 11:30 A.M.

Adequate notice of this meeting has been provided through a special notice which was filed and posted with the Secretary of State on April 1, 2015 and is published in the Star Ledger and the Times of Trenton on April 15, 2015. 


(B) When necessary, the Board shall adopt Resolution B to go into executive session to request/receive attorney-client advice from the Deputy Attorney General, which states:
In accordance with the provisions of the Open Public Meetings Act, N.J.S.A. 10:4-13, be it resolved that the Board of Trustees go into closed session to discuss matters falling within the attorney client privilege, and/or matters in which litigation is pending or anticipated, pursuant to N.J.S.A. 10:4-12(7).
The minutes of such meeting shall remain confidential until after such time as the Board determines that the need of confidentiality no longer exists and the matters discussed can be disclosed and the Board waives the attorney-client privilege.


Called to Order: 11:40 a.m.

Adjourned: 12:25 p.m.

Roll Call:

Tom Bruno, Brian Currie, Ned Thomson, William O’Brien, Susanne Culliton

Absent: Benjamin Hurst, Peter Maurer, Ronald Winthers

Also Present: SDAG Eileen Den Bleyker; Hank Schwedes; Jackie Bussanich; John Megariotis; Aaron Shapiro, Buck Consultants; Ed Quinn, Buck Consultants; Tim McMullen; Henry Matwiejewicz; Nancy Ronaghan; Wendy Jamison; Lisa Pointer, Samantha Marcus, Star Ledger


Miscellaneous Issues


60th Annual Report of the Actuary prepared as of July 1, 2014 presented by Buck Consultants – Accepted Receipt of Report

B-2+ Information Required Under GASB Statement No. 67 as of June 30, 2014 - Noted

*Chairman Bruno asked Deputy Director Megariotis about the motion made at the Board’s April 15, 2015 meeting regarding a forensic audit of the fees charged to the pension funds. Deputy Director Megariotis acknowledged the motion and suggested that the PERS state investment representative make an inquiry directly to the Division of Investments.

"+" Indicates personal appearance

The next meeting of the Board will be held on May 20, 2015.



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