Page 19 - DCAC February 2023 Files

Cc: Lisa Okada <LOkada@smcgov.org>; Kim Pearson <kpearson@smcgov.org>; Silvio DiGrande (silvio.digrande@empower.com)
<silvio.digrande@empower.com>; Patrick Washington (patrick.washington@empower.com) <patrick.washington@empower.com>; Broderick, Dillon
<Dillon.Broderick@empower.com>; Scussel, Sharon <sharon.scussel@empower.com>
Subject: 2022 Compliance Review Grid_Reflex 61869_EASY 776970_San Mateo County Plans

Hello Jay,

Per our current contractual agreement, the following grid was prepared by Sharon Scussel, and it provides a written confirmation of Empower’s annual review of
all four plan documents.
Please retain this for your records and this review will also be addressed during the upcoming February 23, 2023 meeting agenda for the Deferred Compensation
Committee.

Compliance Review for the 2022 Plan Year. (November)
Plan Plan Name Type of Status of Plan Document Plan Document is current for changes in law due Plan Restatement, Discretionary and
Account Plan Plan Type to key and other applicable guidance Interim Plan Amendments (executed
Number documents)
776970- San Mateo Deferred 457(b) Active Specimen Required Interim Amendments targeted mailing Restatement – April 1, 2020
01 Compensation Plan is week of November 28, 2022 for past Restatement – January 1, 2019
legislation. Restatement - November 14, 2016;
 SECURE Act/CARES Act/SECURE Act Amendment #1 - March 21, 2016;
and Other Legislation Restatement - March 21, 2016
Although the IRS extended the deadline* for
adopting these amendments, Empower is
encouraging that plan sponsors adopt no later
than end of the 2022 to assist in documenting
your administration of those provisions that
went into effect in 2020.

*Deadline for governmental plans is 90 days after
close of 3 regular legislative session of the legislative
rd
body with the authority to amend the plan that begins
after December 31, 2023.
776970- San Mateo County 457 Part Time, 457(b) Active Specimen Required Interim Amendments targeted mailing Amendment #1 - March 21, 2016;
03 Seasonal and Temporary Plan OBRA (as of is week of November 28, 2022 for past Restatement - March 21, 2016
3/21/16) legislation.
 SECURE Act/CARES Act/SECURE Act
and Other Legislation
Although the IRS extended the deadline* for
adopting these amendments, Empower is
encouraging that plan sponsors adopt no later
2