Page 14 - 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
Specimen CARES, Further Consolidated Social Security Replacement Plan for part-
governmental 457(b) Appropriations Act of 2019 (“FCAA”), time, season and temporary employees in
deferred Setting Every Community Up for accordance with the Omnibus Budget
compensation plan Retirement Enhancement Act of 2019 Reconciliation Act of 1990 (OBRA) that
(OBRA Plan) (“SECURE”) and Bipartisan American requires a 7.5% pre-tax contribution by
Miners Act (“BAMA”). eligible employees. 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
776970-03 San Mateo County Part-Time, Seasonal and Temporary Plan 457(b) 3/21/2016 distribution.

Empower Cycle-3 CARES, Further Consolidated Contributions frozen as of 3-16-2016.
Non-Standardized Appropriations Act of 2019 (“FCAA”),
Governmental pre- Setting Every Community Up for
approved 401(a) plan Retirement Enhancement Act of 2019
(“SECURE”) and Bipartisan American
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.
776970-04 County of San Mateo Part-Time, Seasonal and Temporary Retirement Plan 401(a) 4/1/2022
Empower Cycle-3 CARES, Further Consolidated Fixed employer contribution based on
Non-Standardized Appropriations Act of 2019 (“FCAA”), "compensation earnable". Rollover
Governmental pre- Setting Every Community Up for contributions permitted.
approved 401(a) plan Retirement Enhancement Act of 2019
(Active Money (“SECURE”) and Bipartisan American
Purchase Plan) 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.
776970-05 San Mateo County Money Purchase Plan 401(a) 3/17/2023