457 DEFERRED COMPENSATION PLAN, 401(a)
DEFINED CONTRIBUTION PLAN, AND RETIREMENT
HEALTH SAVINGS PROGRAM COMMITTEE
REGULAR MEETING MINUTES
9:00 A.M.
April 29, 2024
1. CALL TO ORDER
The meeting was called to order by Committee Chair Olson at 9:02 a.m.
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
Committee Members Present: Committee Chair Olson, Committee Vice Chair Brown, Alternate Members Present: Peterson
Committee Members Absent: Nichelini and Nayar
Alternate Members Absent: Alberti, French, Lacey, Rolley, and Callison Staff Present: Secretary Gates
4. REPORTS
A. Report from Secretary to the Committee - None.
5. COMMUNITY FORUM
Speakers: None
6. CONSENT CALENDAR AND APPROVAL OF AGENDA
Approval of Minutes
Recommendation: Approval of the minutes from the January 29, 2024 regular meeting.
Action: Moved by Committee Member Brown, seconded by Committee Member Peterson and carried unanimously to approve the minutes of the January 29, 2024 meeting.
7. PRESENTATIONS
Presentation by Luther Hermano, Mission Square
Dudgentation: First Quarter 2024 Performance Review and review plan related Discussed 2024 strategy, financial planning program, Secure 2.0 updates & contribution limits, and Tech Corner.
B. Presentation by Vincent Galindo, Hyas Group
Presentation: First Quarter 2024 performance review, market commentary, current func lineup overview, on-watch fund Vanguard US Growth Fund, fee and revenue analysis, and legal and regulatory updates
First Quarter 2024 performance Report discussed the Plans' current investment options, and Vanguard US Growth Fund will remain on watch.
ACTION ITEMS)
A. Approve Statement of Investment Policies and Guidelines Recommendation: By motion, approve updated draft Statement of Investment Policies and Guidelines.
Action: Moved by Vice Chair Brown, seconded by Committee Member Peterson and carried unanimously to approve updated Statement of Investment Policies and Guidelines.
B. Approve Education Policy Statement
Recommendation: By motion, approve updated Investment Policy Statement.
Action: Moved by Committee Member Long, seconded by Committee Member Sifuentes and carried unanimously to approve updated Investment Policy Statement.
Selection of New Chair and Vice Chair
Recommendation: By motion, select and approve a new Chair and Vice Chair.
Action: Chair Olson nominated Vice Chair Brown as new Chair, seconded by Committee Member Peterson and carried unanimously to approve Vice Chair Brown to new Chair.
Committee Member Peterson nominated Chair Olson as new Vice Chair, seconded by Vice Chair Brown and carried unanimously to approve Chair Olson to new Vice Chair.
FUTURE AGENDA AND ACTION ITEMS
A. NAGDCA 2024 Conference - September 15-18, 2024
Fund watch for MissionSquare Plus Fund R10, MissionSquare Plus Fund S11, and Sterling Capital Total Return Bond S6.
C. "Lunch and Learn" participant sessions
10. ADJOURNMENT
The meeting was adjourned at 10:19 a.m.
Le De
JAMES OLSON, CHATRPERSON
ATTEST
KIMBERLY GATES, EXECUTIVE SECRETARY