Page 12 - DCAC May 2023 Files
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COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes from February 23, 2023
Innovest
10. Presentation and Acceptance of Quarterly Investment Review (Rick Rodgers & Gordon
Tewell)
A motion was made to accept the Quarterly Investment Review.
M/S/C Love/Wilson/5-0
11. Review and Approve Replacement of PIMCO Total Return Fund With ESG Version (Rick
Rodgers)
The DCAC took no action on this item, effectively retaining the non-ESG version of the
PIMCO Total Return Fund in the current investment portfolio.
12. Review and Approve Investment Policy (Gordon Tewell)
A motion was made to approve the Investment Policy as red-lined in the agenda
packet.
M/S/C Raw/Love/5-0
13. Fiduciary Education: Understanding Volatile Markets (Rick Rodgers)
The DCAC accepted this presentation.
14. Review and Discuss Draft Goals & Objectives and Next Steps (Gordon Tewell)
The DCAC agreed with metrics proposed in the draft goals and objectives and directed
staff and consultants to begin data collection and reporting as appropriate.
15. Oral Update on RHRA Request for Proposals Process (Gordon Tewell)
The DCAC accepted this presentation.
16. Legislative Updates (Rick Rodgers)
The DCAC accepted this presentation and directed staff to include SECURE 2.0
updates on future agendas, particularly as decisions are needed on the discretionary
(versus mandatory) provisions.
County Staff
17. Discuss Ideas for NAGDCA Award Nomination(s) (Jay Castellano)
The DCAC asked Empower to prepare a nomination around the plan’s efforts and
results regarding leakage—premature distribution of assets.
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