Page 55 - DCAC February 2024 Files

County of San Mateo Deferred Compensation Program Participant Survey 2023

know.

116 I do not know enough about it. 11/21/2023 4:41 PM
117 I would like the option to invest in Bitcoin. I'm hopeful the option will be available once the spot 11/21/2023 4:27 PM
Bitcoin ETF is approved.

118 need more investment types to chose from -large, mid, small, index with lower fees, and would 11/21/2023 4:23 PM
be nice to also have a 403b and 457 option to maximize savings, other Counties contribute on
employee behalf especially those under pepra restrictions

119 don't like the "packaged" investments based on age that are the default. Yes, I know you can 11/21/2023 4:19 PM
customize investments but would prefer packaged investments based on other criteria, like
risk tolerance.

120 There aren't really any decisions on how to invest besides aggressive, less aggressive, etc. 11/21/2023 4:19 PM
Well at least not that I have heard of. Some education on this would be great too.
121 Don't know much about the County's program 11/21/2023 4:17 PM

122 I don't have a huge understanding of it 11/21/2023 4:14 PM
123 I was basically lied to by the Plan. I was told that as soon as I had $1,000 to invest in Schwab 11/21/2023 4:10 PM
I could invest that amount. Then after I relied on that information, when I tried to transfer
money to Schwab, I was told that I could only transfer 50% of the balance to Schwab. Then it
changed to Schwab requiring a minimum of $5,000 for the first transfer, which means I have to
keep $5,000 in deferred comp account. The rep manager had to contact someone at the
County to confirm because they had conflicting information at Empower. I DO NOT WANT TO
PUT MY MONEY INTO A FUND THAT SUPPORTS THE OIL INDUSTRY! Can I be any
clearer? Yet, there are no funds implementing ESG strategies. Fidelity and Vanguard have
such funds. I have no respect for whoever is forcing county employees to prop up oil stocks.
Have you heard of the Climate Crisis? I am so disgusted, I ended my participation for next
year.
124 we should be able to withdraw as a loan or give different options 11/21/2023 4:09 PM
125 new employee, I do not know anything about the plan other than you have to put in five years 11/21/2023 4:05 PM
to qualify for any benefit
126 I have not monitored my plan close enough 11/21/2023 4:04 PM
127 I don't know very much about how it's designed. 11/21/2023 4:03 PM
128 Lack of education 11/21/2023 4:03 PM

129 Reason being, no one ever explained anything on it worked and what deferred compensation 11/21/2023 4:00 PM
was or meant.
130 The county should offer a county matching. I realize this can be quite expensive and as such 11/21/2023 3:58 PM
participants should have a choice between a samcera (pension contributions) or matching
contributions.
131 We need more engagement vendor/employee/employer 11/21/2023 3:57 PM

132 more investment options 11/21/2023 3:57 PM
133 I don't think that the resources are very well advertised or promoted. I have been seeking 11/21/2023 3:53 PM
support but have had a difficult time in identifying/accessing resources

134 When I started with the County, no one explained to me what Deferred Compensation was. 11/21/2023 3:53 PM
they just made me sign up and it wasn't a choice. I had to sign up.
135 need more info 11/21/2023 3:51 PM

136 I guess I don't know that I 100% understand the deferred compensation plan and if it is the 11/21/2023 3:49 PM
right/best option for me.
137 with the DCP I think its ridiculous that we have to buy the time that we worked for the county, 11/21/2023 3:49 PM
instead of just giving us that time.
138 Because I am neutral 11/21/2023 3:48 PM

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