457 DEFERRED COMPENSATION PLAN, 401(a)
DEFINED CONTRIBUTION PLAN, AND RETIREMENT
HEALTH SAVINGS PROGRAM COMMITTEE
REGULAR MEETING MINUTES
9:00 A.M.
January 29, 2024
1. CALL TO ORDER
The meeting was called to order by Committee Chair Olson at 9:03 a.m.
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
Committee Members Present: Committee Chair Olson, Committee Vice Chair Brown, and Sifuentes.
Alternate Members Present: French, Peterson, and Lacey.
Committee Members Absent: Malone, Nichelini, Nayar, and Long.
Alternate Members Absent: Dauzart, Alberti, Rolley, and Callison.
Staff Present: Secretary Gates
4. REPORTS
A. Report from Secretary to the Committee – None.
5. COMMUNITY FORUM
Speakers: O’Neal
6. CONSENT CALENDAR AND APPROVAL OF AGENDA
A. Approval of Minutes
Recommendation: Approval of the minutes from the July 31, 2023 regular meeting.
Action: Moved by Committee Member Brown, seconded by Committee Member Peterson and carried unanimously to approve the minutes of the July 31, 2023 meeting.
7. PRESENTATIONS
A. Presentation by Luther Hermano, Mission Square
4th Quarter Plan Review
o Accomplishments & Results
2023 Strategy
o Participant Engagement
Quarterly Insights
o Trends & Research
Tech Corner
o Technology and Transition Updates
DocuSign Envelope ID: 57E76FA5-67E0-47C1-B18C-1DBC919A2E6E B. Presentation by Vincent Galindo, Hyas Group
4th Quarter 2023 Performance Review
o Presented 4th Quarter 2023 Performance Report and discussed the Plans’ current investment options.
Fiduciary Education
o Presented the formal fiduciary education session “Fiduciary Fundamentals”. Education Policy
o Draft given to Committee for review and discussion next meeting. Legal and Regulatory Updates
o Will work with staff on plan-related budget to utilize $70,000 in funds from the Administrative Allowance Account. Will also work with performance measurement analyst to see if a ledger can be added to track the account.
8. ACTION ITEM(S)
A. Fund Watch Removal
Recommendation: Approve the removal of MFS Mid Cap Growth Fund from watch status.
Action: Moved by Committee Member Peterson, seconded by Committee Member Sifuentes and carried unanimously to remove MFS Mid Cap Growth Fund from watch status.
B. Approve New Member
Recommendation: Approve new member, Daniel Callison, to the Committee.
Action: Moved by Committee Member Peterson, seconded by Committee Member Brown and carried unanimously to add Daniel Callison as a new Committee Member
9. FUTURE AGENDA ITEMS
A. Investment Policy Statement – Q1 2024
B. Goals and Objectives - Q2 2024
C. Education Policy Statement
D. Lunch and Learns
E. Vote for new Chair and Vice Chair Committee Members
F . NAGDA Attendance
DocuSign Envelope ID: 57E76FA5-67E0-47C1-B18C-1DBC919A2E6E
10. ADJOURNMENT
The meeting was adjourned at 10:25 a.m.
JAMES OLSON, CHAIRPERSON
ATTEST
KIMBERLY GATES, EXECUTIVE SECRETARY
DocuSign Envelope ID: 57E76FA5-67E0-47C1-B18C-1DBC919A2E6E