Page 7 - DCAC September 2025 Files
P. 7
COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE Minutes for May 22, 2025
CONSENT ITEMS
1. Approve Minutes from December 2, 2024 (Jay Castellano)
2. Approve Minutes from February 27, 2025 (Jay Castellano)
A motion was made to approve the Consent Items.
Motion/Second/Carry: Raw/Love/7-0
OLD BUSINESS
Empower
3. Update on Initial Liquidation of De Minimis Accounts (Bob Gleason)
Documentation for 457 plans is complete. Documentation for 401a plans will be
complete as soon after this meeting. The initial liquidations (i.e., 457 cashouts and
401a rollovers to IRAs) are scheduled for the third quarter and will be reported in the
DCAC’s September 25 meeting.
The DCAC accepted this update.
4. Update on NAGDCA Award Nomination (Armando Llanes)
The nomination was submitted by the April deadline. The award selections should be
announced in June or July.
The DCAC accepted this update.
NEW BUSINESS
Empower
5. Presentation of Annual and Abbreviated Quarterly Plan Review (Bob Gleason)
The DCAC accepted this presentation.
6. Empower Advisory Services Participant Campaign (Cheryl Wilson Maynard)
The DCAC accepted this presentation.
Innovest
7. Presentation and Acceptance of Quarter 1 Investment Review (Rick Rodgers, Tomas
Jansson)
The DCAC accepted this presentation.
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