MINUTES FROM MEETING OF
THE DEFERRED COMPENSATION COUNCIL May 3, 2016
A meeting of the Deferred Compensation Council (the “Council”) was held May 3, 2016 at 9:00 AM in the Conference Room of the Office of the State Treasurer (“OST”)
820 Silver Lake Blvd., Suite 100, Dover, DE 19904
All Board Members Represented or in Attendance:
The Honorable Ken Simpler, State Treasurer
The Honorable Karen Stewart, Insurance Commissioner
Mr. Ralph Cetrulo, Public Member At-Large
Secretary Thomas J. Cook, Department of Finance
Mr. Robert Scoglietti (on behalf of Director Visalli, Office of Management & Budget) Mr. Charles Campbell-King, State Employee Member At-Large
As you can see above, only 6 Council members in attendance. It is being reported that All board Members in attendance, but please remember, Governor Jack Markell has left the second State Employee Seat VACANT!!
Others in Attendance:
Ms. Ann Marie Johnson, Deputy Attorney General
Ms. Nora Gonzalez, Deputy State Treasurer, Office of the State Treasurer
Mr. Michael Green, Financial Investment Program Manager, Office of the State Treasurer Mr. Dan Kimmel, Financial Investment Program Specialist, Office of the State Treasurer Ms. Martha Sturtevant, Office of the State Treasurer
Mr. Omar Masood, Policy Analyst, Office of the State Treasurer
Ms. Jennifer Vaughn, Controller, Department of Insurance
Ms. Rebecca Kidner, RB Kidner, PA representing Valic
Doug Gramiak, Young Conaway Stargatt & Taylor, LLP representing NTSA
Lisa Goodman, Young Conaway Stargatt & Taylor, LLP representing NTSA
Ms. Kasi Boyles, Voya Financial
This is very interesting. Notice that the treasurers office was well represented at the last meeting. I count 6 staff members from the Treasurers office. The Delaware Legal Community seems to be heavy in attendance as well. We have the Deputy Attorney General, and at least 3 individual attorneys from various places. Controller from the Insurance Department, and lastly a representative from VOYA Financial, the proposed single vendor.
This is a very impressive group of professionals. I have no doubt that they have good intentions, are well informed, and have have integrity and warrant respect, however the question remains…. WHERE ARE THE STAKEHOLDERS?
There was NO TEACHER ON THE COMMITTEE AND THERE WAS NO TEACHER IN THE ROOM! Decisions are being made without any care given to those effected the most.
There was no one to represent the current vendors! These are companies and individuals that Delaware Teachers have been dealing with for years. They have established trust and have provided service and guidance. These people should have also had some say in what is happening!
BANKERS AND LAWYERS AND POLITICIANS…. OH MY!!! MEANWHILE STATE WORKERS ARE LEFT IN THE DARK!!!
We must continue to try and make our voices heard!
Please continue to visit our social media outlets and contact our legislators. We have to slow this down. This issue needs more time and attention! Together we can do this!!
CONSIDER A CALL TO ACTION…
Send a letter to Representatives and Senators in Dover
USE THIS LINK…
SEND A MESSAGE TO YOUR LEGISLATOR!
Join the group…
FACEBOOK GROUP Delaware School Employees United for Retirement Choice
Or like our page…
FACEBOOK PAGE Delaware School Employees United for Retirement Plan Choice