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COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE February 25, 2021
• If gender questions remain, ensure that a “Decline to State”. (Perry)
• Define terminology whenever appropriate to maximize the quality of the responses.
(Trustee Wentworth)
• Insert videos, if possible, to enhance definitions. (Trustee Love)
A motion was made to approve the Policy and the Survey with the requested changes. The
DCAC directed that the amended Survey be shared with the DCAC before distribution.
M/S/C Wentworth/Love/9-0. Motion approved by roll call vote.
8. Oral Update on Status of MassMutual/Empower Contract Extension (County, Jay
Castellano)
Castellano updated that the contract extension is scheduled for approval by the Board of
Supervisors on March 9, 2021.
The DCAC accepted this update.
9. Oral Update on Status of RFP for Investment Consultant (County, Jay Castellano)
Castellano updated that staff is still identifying a consultant resource to assist with the
RFP. As soon as the resource is secured, a Kick-Off will be scheduled with the previously-
appointed ad hoc selection subcommittee of Chair Okada, Trustees Love and Trustee
Perry.
Trustee Perry ceded his position on the selection subcommittee so that other committee
members could take advantage of the learning opportunity presented by the RFP. Trustee
Htwe and Trustee Mejia were added to the selection subcommittee.
The DCAC accepted this update.
10. Oral Update on DCAC Retreat, March 16, 2021 (County, Jay Castellano)
Castellano requested the DCAC consider canceling the March 16 Retreat for lack of
priority content and in deference to scheduling and workload. The DCAC agreed.
Castellano noted that upcoming action items are required of the DCAC (e.g., authorization
to share plan information for NAGDCA database, approval of new Vanguard TDF share
class, approval of new Vanguard vintages), and the March 16 meeting time will be used for
those purposes.
The DCAC accepted this update.
11. Oral Update on County’s Conflict of Interest Resolution vis à vis DCAC (County, Jay
Castellano)
Castellano noted that the update to the County’s Conflict of Interest Resolution has been
delayed. This item will drop from the DCAC agenda until it is again activated by the County
Counsel.
The DCAC accepted this update.
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