Page 13 - DCAC November 2024 Files

COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes for September 24, 2024

5. The October 1, 2024, crediting rates will account for these book value and market value
adjustments.
6. The participant accounts will be retroactively corrected by October 31, 2024. The
corrections will account for the dates on which individual participants were and were not
invested in the SAGIC Fund, retroactive to March 2016.
7. Participant communications will be coordinated with County staff and distributed in mid-
October.

Motion/Second/Carry Raw/Love/6-0

5. Discuss Next Steps in the Restoration Timeline (Empower Team)

1. The participant accounts will be retroactively corrected by October 31, 2024.
2. Empower’s proposed corrective action plan is subject to review by County legal counsel,
which may result in delaying the effective dates of such actions.
3. Participant communications will be coordinated with County staff and distributed in mid-
October, subject to review and approval of County legal counsel.

NEW BUSINESS

None

NEXT MEETING

Thursday, November 7, 2024

ADJOURNMENT

The meeting was adjourned at 9:41am.

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