Page 9 - DCAC November 2024 Files
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COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes for August 22, 2024
8. Discuss and Approve SECURE 2.0 Optional Provisions (Bob Gleason)
A motion was made to approve the following optional provisions of SECURE 2.0.
1. Domestic Violence
2. Terminal Illness
3. The provision related to Federally Declared Disasters will be discussed and considered
during the December 2 Retreat.
4. In the DCAC’s Q4 meetings in 2025 and 2026, review and approve, as appropriate, SECURE
2.0 optional provisions available to the County plans to date and in the following calendar
year.
M/S/C Wilson/Finnegan/6-0
Innovest
9. Presentation and Acceptance of Quarterly Investment Review (Rick Rodgers)
The DCAC accepted this presentation.
10. Education Session: Investment Fundamentals (Brett Minnick)
The DCAC accepted this presentation.
11. Approval of the Addition of Vanguard’s New 2070 Target Date Fund (Brett Minnick)
A motion was made to add the new Vanguard 2070 Target Date Fund to the plan’s target date fund
vintages.
M/S/C Finnegan/Okada/6-0
12. Legislative Updates (Rick Rodgers)
The DCAC accepted this presentation.
County
13. Review and Approve Bylaws (Jay Castellano)
A motion was made to approve the Bylaws as drafted, including the provision that grandfathers
current DCAC members who are not plan participants.
M/S/C Aponte/Okada/3-2 (Members Finnegan and Raw dissented. Both preferred to delete the
grandfather clause.)
(Note: Member Wilson excused herself before discussion began on this agenda item to avoid a
conflict of interest as she will be directly impacted by the DCAC’s decision on grandfathering
current DCAC members who are not plan participants.)
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