Page 7 - DCAC February 2025 Files

COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes for November 7, 2024

ROLL CALL

Present Absent
Lisa Okada Steve Perry
Gerimar JJ Tabbay
Lilibeth Dames
Laurel Finnegan
Robert Raw
Bridget Love
Gabe Aponte

ORDERS OF THE DAY

The agenda was accepted as is.

PUBLIC COMMENTS

None.

CONSENT ITEMS

1. Approve Minutes from August 22, 2024 (Jay Castellano)
2. Approve Minutes from September 24, 2024 (Jay Castellano)

A motion was made to approve the Consent Items.

Motion/Second/Carry: Raw/Finnegan/7-0

OLD BUSINESS

Empower

3. Update on Initial Liquidation of De Minimis Accounts (Bob Gleason)

Empower reported that it was waiting for the SAGIC settlement agreement to be signed by the
County and that the de minimis accounts could be addressed 30 days after receipt of the signed
agreement.

The DCAC accepted this update.

4. Update on Resolution of Past Crediting Issue in SAGIC Fund (Bob Gleason)

Empower reported that participants would receive a letter within 30 days after Empower’s receipt
of the signed SAGIC settlement and that participant accounts would be credited shortly thereafter.

The DCAC accepted this update.

5. Update on Implementation of Vanguard 2070 Target Date Fund (Bob Gleason)

Empower reported that the implementation is targeted for December 4, 2024.

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