Page 13 - DCAC Feb 2026 Files

San Mateo County, California Retirement Plan Compliance Review as of February 18, 2026
Plans may make changes available under SECURE 2.0 as they become available on Empower's recordkeeping system. Plan Amendments are not required to be formally adopted for SECURE 2.0 until December 31, 2029

Plan Amendments Since Last
Plan ID Plan Name Plan Type Restatement Date Description Restatement Benefits Provided
Specimen CARES, Further Consolidated Permits eligible employees to make deferred
governmental 457(b) Appropriations Act of 2019 (“FCAA”), salary contributions up to the lesser of the
deferred Setting Every Community Up for applicable dollar limit or the participant's
compensation plan Retirement Enhancement Act of 2019 includable compensation, age 50 catch-up
(“SECURE”) and Bipartisan American contributions and pre-retirement catch-up
Miners Act (“BAMA”). contributions. Rollover contributions
permitted.
Mandatory cash-out distribution for
terminated participants amount increased
to $7,000 per Section 304 of SECURE 2.0
with amounts between $1,000-$7,000
sent to an IRA for the participant and
amounts of $1,000 or less are paid to the
participant as a lump sum cash
776970-01 San Mateo County Deferred Compensation Plan 457(b) 4/1/2020 distribution.
Empower Cycle-3 CARES, Further Consolidated Plan provides for a fixed and discretionary
Non-Standardized Appropriations Act of 2019 (“FCAA”), employer contribution and a discretionary
Governmental pre- Setting Every Community Up for matching contribution that is calculated on
approved 401(a) plan Retirement Enhancement Act of 2019 elective deferrals made to the 457(b) plan.
(Active 401(a) Plan) (“SECURE”) and Bipartisan American Rollover contributions permitted.
Miners Act (“BAMA”).
Mandatory cash-out distribution for
terminated participants amount increased
to $7,000 per Section 304 of SECURE 2.0
with all amounts under $7,000 sent to an
IRA for the participant.
776970-02 County of San Mateo 401(a) Retirement Plan 401(a) 4/1/2022