Page 10 - DCAC May 2025 Files
P. 10
COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes for February 27, 2025
PUBLIC COMMENTS
None.
CONSENT ITEMS
1. Approve Minutes from November 7, 2024
A motion was made to approve the Minutes of November 7, 2024.
Motion/Second/Carry: Raw/Love/5-0 (Gard abstained)
2. Approve Minutes from December 2, 2024
A motion was made to approve the Minutes of December 2, 2024.
Motion/Second/Carry: Raw/Aponte/4-0 (Love and Gard abstained)
This item will be recommended for approval again in the May 22, 2025, meeting due to lack of a
quorum.
3. Approve Annual Affirmation of Plan Document Compliance
A motion was made to approve the Annual Affirmation of Plan Document Compliance.
Motion/Second/Carry: Tabbay/Raw/6-0
OLD BUSINESS
Empower
4. Update on Initial Liquidation of De Minimis Accounts (Bob Gleason)
Chair Okada will execute documents for Quarter 2 processing. The liquidated 401(a) assets will be
transferred into an IRA.
The DCAC accepted this update.
5. Update on Resolution of Past Crediting Issue in SAGIC Fund (Bob Gleason)
The DCAC accepted this update.
6. Update on Implementation of Vanguard 2070 Target Date Fund (Bob Gleason)
The 2070 Target Date Fund was available for investment on December 4, 2024.
The DCAC accepted this update.
7. Update on Implementation of Federally-Declared Disaster Provision of SECURE 2.0 (Bob Gleason)
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