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Pensions and Benefits
FEBRUARY 25, 2010

Notice of this meeting has been provided through the special notice of the Board filed with and
prominently posted in the Office of the Secretary of State. The notice of this special meeting was
mailed to the Secretary of State, Star Ledger and the Trenton Times on February 16, 2010.


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: 12:10 p.m.

Adjourned: 12:40 p.m.

Roll Call:

Fred Beaver; Karl Kleeberg; (Christopher O’Shea; Jack Sayers, via telecom)

Absent: None

Also Present: DAG Jeff Igantowitz; Wendy Jamison; Lisa Pointer, Kathy Coates; Jackie Bussanich; Janice Nelson; John Megariotis; Janet Cranna, Buck Consultants; Hank Matwiejewicz; Tim McMullen, Susanne Culliton; Wayne Hall; Richard Loccke; Valerie Kazlidan; NJEA; Michele Liebtag, CWA; Joe Nardini, CWA; B. Kirshnir; Dusty McNichol; Lisa Fleisher, Star Ledger; Jim Gaffigan, NJ State Troopers NCO; David; Scott Porter, Milliman; Pete Maurer; (Rodney Nichols; Deborah Jacob; Alice Stevens; Rae Roeder; Sandy Coia; Dianna Brown; Dan Anotnellis; Anthony Miskowski, CWA Local 1033)


Miscellaneous Issues


Actuary Valuation Report as of July 1, 2009 – Accepted as presented

The Board approved a motion to draft a letter to the Legislature requesting that they not move forward with any pension reform legislation unless or until the short term impact and the long term savings is presented to the Legislature by a report of the System’s actuary. (Trustee Beaver abstained)

"+" Indicates personal appearance

The next meeting of the Board will be held on March 23, 2010.


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