NOT TEACHERS' RETIREMENT BOARD EITHER
IIRC, not the entity that Comptroller Lembo (above, left) and the Legislature initially created...


CONNECTICUT RETIREMENT SECURITY AUTHORITY  BOARD OF DIRECTORS MEETINGS

C.R.S.A who are they and where do you find them in the C.G.S.:  https://www.cga.ct.gov/2017/pub/chap_574.htm

Background news story on the new entity:  https://ctmirror.org/2017/05/08/authorized-a-year-ago-new-retirement-program-languishes/
Description of this retirement program:  https://captain401.com/blog/retirement-plan-laws-connecticut-retirement-security-program-crsp-small-businesses/





CONNECTICUT RETIREMENT SECURITY BOARD
June 15, 2018

     

Surprise!  In six months they still haven't hired an Executive Director...

And the Chair. is moving to another position in the Administration!  New members sworn in including one familiar face to About Weston - reassuring to see him again! 

Request that now Ex-Commissioner of Labor Jackson continue convening this entity until Exec. Director on board (r.).

Executive Session ends the meeting with no decision about hiring made since the meeting did not reconvene.





NEXT MEETING TO BE HELD IN HAMDEN




First item is ethics lesson.


Money sits in Comptroller's Office now;  cost of experts to set up program are high...and the reality of having anything move ahead during this calendar year looks bad.


COMMISSIONER OF LABOR HELPS PEOPLE DECIDE TO MOVE AHEAD FASTER
Since we note that like Cinderella, this concept of state run retirement entity may disappear as an option at the stroke of midnight or perhaps the next raid on the Comptroller's budget?
 









We watched the second meeting after the fact (the meeting actually took place Nov. 17).  What actions were taken?
JMO - this isn't going anywhere - at least not so fast.  Unless...see "hint" (if some employee can do this, would they give up their union position?}.  Please listen to the part of the discussion where the subcommittee related to hiring the Executive Director.

Dec. 15th next meeting.  E-mail and phone meeting before.  Posting for the Executive Director job is in addition to applicants who actually are known to the Authority Board, but these names not before the public for F.O.I. by public.  HINT:  Is this a "jobs program" for F.O.A.?*

F.O.A. = Friends of the Authority.  By the way, this is the way it is done in government and probably in private industry, too. 





Commissioner of Labor Scott Jackson presided. (former Mayor of Hamden, if memory serves)



REMEMBER WHEN KEVIN LEMBO WAS IN CHARGE OF THIS?  The story of the economist with as many hands as a spider:

 
First speaker, F.O.I. representative who explains the law and how it has evolved, Mr. Tom Hennick. 

Subcommittee Reports:

    
DON'T MOVE TOO FAST?
What is their status regarding the $$ they have for set up costs before any program became reality?  Discussion ensued.

    
TOO MANY COOKS?  DISCUSSION ENSUED.
Concerned they don't waste their resources.  Serious experience in management of public end of things.

Some other items discussed from subcommittee reports:

THREE OTHER STATES DOING THIS AND HOW C.R.S.A. HAS BEEN IN TOUCH TO DATE:

Oregon
California
Maryland

PUBLIC INPUT
Member of the public speaks at the end of the more than one hour meeting (represented AARP).  Makes good recommendations on process of setting up quasi-public entities - they should not be reinventing the wheel.

November 17th next meeting.