FullSizeRender copyHello friends,

Thank you for bearing with me over the last few days.  After our summit last week with the Treasurer, I had to spend a few well deserved days with the family, and on Monday morning, began to deal with House Bill 399 dealing with Component 5 issues.  Now that the dust has settled, I want to let everyone who was not able to attend our meeting know how it went.

First of all another THANK YOU to Treasurer Simpler and his team.  They were able to address our group concerns and offer some valuable insight into the process and the reasons for the retirement plan changes.

I also want to say THANK YOU to our DSEA hosts!  Their hospitality and attention to detail helped make the Summit successful from a logistic perspective, and they also helped out with refreshments.

A HUGE SHOUT OUT to Tammy Wagner of DSEA and Martha Sturtevant from the Treasurers office.  Both of these wonderful ladies helped me set up the Summit, and were extremely patient and kind!

The Summit began with a meet and greet.  We had well over 30 people in attendance.  As the group began to settle in Treasurer Simpler was introduced and was given an opportunity to share some of his background and the process under which the Deferred Compensation Committee worked.  It is important to point out the Treasurer Simpler did outline who the specific members of the DCC were, and did explain that there was indeed a missing member of the committee , which traditionally had been a teacher.  He spent a great deal of time going over the  “Fiduciary” nature of his position on the DCC.

There have always been sayings like “Pesto is the quiche of the 90’s” and “Orange is the new black”,  so here is a new one for our lexicon….. “Fiduciary is the because I said so “of  today!


adjective Law
adjective: fiduciary
  1. 1. involving trust, especially with regard to the relationship between a trustee and a beneficiary. “the company has a fiduciary duty to shareholders”
    • archaic
      held or given in trust.
      “fiduciary estates”
    • Finance
      (of a paper currency) depending for its value on securities (as opposed to gold) or the reputation of the issuer.
noun: fiduciary; plural noun: fiduciaries
  1. 1. a trustee.


late 16th century (in the sense ‘something inspiring trust; credentials’): from Latin fiduciarius, from fiducia ‘trust,’ from fidere ‘to trust.’

In the news…

The ‘fiduciary rule’ would force financial professionals to charge their customers more.

Generally, the “Fiduciary Excuse” as I call it, (not to be negative, it just seems to cover so much i may use it to get out of a situation if I can from now on) was thrown around many times.  All of our suggestions and solutions received the “Fiduciary Excuse” as the night went on.  We talked about “Grandfathering” and “delayed start up” and other scenarios that would offer relief to our members, but ultimately, the “Fiduciary Excuse” always seemed to be the answer.  There was also a great deal of legal back and forth between the Delaware Attorney Generals office and legislators.  This seemed to also cause a slow down in the way information was getting out to our members.
A representative from VOYA was present to address concerns and present VOYA to our members as the new Retirement Benefit vendor.  I will say that their presentation and their plan for development was generally well received.  VOYA seems to have some new and innovative products and platforms that may work out well for many of our members.  It is unfortunate that their entry into our retirement benefit process was hampered by the process.  I wish them luck in their future work with our Delaware State Employees.
Ultimately the Summit was successful in getting the concerned parties to the table.  At this point many of our DSEA Local Leaders have been informed about the changes, and have been able to share member questions and concerns.  That was the goal of our Summit, and to that end, I believe we had some success.  So where do we go from here?
I spent the day in Dover on Tuesday and while dealing with Component 5 legislation, I was also able to sneak around both chambers of our Delaware State House.  I was able to chat with a few legislators about our retirement issues.  Each and every politician that i spoke with felt bad about what was happening with our retirement options.  Each of them offered their support, BUT NONE OF THEM SEEMED WILLING TO GO THAT EXTRA STEP.
At this point we may need legislation to slow down the process.  When i directly asked each of these Representatives, and Senators about their willingness to craft a bill in our favor, i received less that enthusiastic responses. I have also reached out to Governor Jack Markell for aid both publicly and privately, but have received no response, so our chances of getting some kind of “Executive Reprieve” is not likely.
As the summer goes on I suggest we continue to monitor the situation, and continue to communicate with each other and our legislators…

Contact The Deferred Compensation Committee

Deferred Compensation Team


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

Lets continue to work together over the next few months so that more and more of our members and friends get the information.

Thank you






Screen Shot 2016-06-08 at 1.18.01 PM


136 E. Water St.
Dover, DE 19901

Please join other Union Local leadership and concerned friends as we meet with Delaware State Treasurer Ken Simpler and members of the Deferred Compensation Council to discuss recent changes to Delaware School Employee Retirement Plans.

 The tentative agenda will be:

4 to 4:45- Meet and Greet
4:45 to 6- Treasurer/Committee presentation
6 to 6:45- Question and answer session
6:45 to 7- Next steps. After saying farewell to our guests, we will use this opportunity for our coalition to go over the evenings information and plan our next steps.

Please RSVP to me by email or Text/Call. We will have refreshments for our meet and greet and want to try and get a solid count.
Thank you again for all you have been doing…WE HAVE MADE A DIFFERENCE ALREADY!!

DCC Meeting Minutes PART 1… Lets Take Attendance



2016-5-3 DCC Public Minutes FINAL

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!


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!!


Send a letter to Representatives and Senators in Dover



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





Special thanks to the responsiveness of both the Department of Finance and the Treasurers Office for Providing me with the link to the Public records of the Deferred Compensation Council.

Here are the members who served on the now infamous 7 person council that holds so many State Employees retirement options in the palm of their hands.

We know that by law 4 of the members are “Ex-Officio” members…

karen_weldin_Stewart.jpg.300x400_q85_box-125,0,1257,1512_crop_detail Insurance Commissioner Karen Weldin Stewart (302) 674-7300

Tom_Cook Thomas J. Cook – Secretary of Finance (302) 577-8546

FullSizeRender copyMr. Robert Scoglietti Office of Management & Budget (302) 739-4204

1435052688 Ken Simpler- State Treasurer 302 672-6000

The other 3 members of the Council shall be appointed by the Governor.

IMG_8968 State Employee Number 1 Charles Campbell-King

empty-chair  Empty Seat for State Employee Number 2

FullSizeRender Representative of the public-at-large Ralph Cetrulo

So the 7 person Oligarchy was really a 6 person group that controls the financial future and stability of thousands of State Employees.

YOU MAY EMAIL THE COUNCIL AT  Deferred Compensation Team

I had filed Freedom Of Information Act (FOIA) forms with the following State Offices.  State Treasurer, Insurance Commissioner, Office of Management and Budget, Department of Finance, and Governor Jack Markell’s Office.  Both the Finance Department and Treasurers Office where very helpful!  This information is publicly available at  At that site you can access agendas, names of council members, and meeting minutes by searching for the Deferred Compensation Council.


Here are the documents that are available on the Deferred Compensation Website.



Sunlight is the best disinfectant.  Lets see the meeting minutes and agenda items from these high power meetings.  Stay Tuned…