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COUNTY OF SAN MATEO
DEFERRED COMPENSATION ADVISORY COMMITTEE May 27, 2021

6. Oral Update on Submission of County Plan Information in Public Retirement Research
Lab Database (County, Jay Castellano)

Castellano noted that the County submitted its enrollment form in April and received
NAGDCA’s confirmation of receipt.

The DCAC accepted this update.

7. Oral Update on Submission of Nomination for NAGDCA Leadership Award (County, Jay
Castellano, and Empower, Armando Llanes)

Gleason noted that Armando Llanes submitted the County’s nomination for NAGDCA’s
Participant Education & Communication Leadership Award by the April 30 deadline.
NAGDCA is expected to announce results in July.

The DCAC accepted this update.

8. Review and Discuss Annual Survey Results (Empower, Bob Gleason and Armando
Llanes)

Gleason reviewed the survey results included in the meeting packet. Empower, NFP
and County staff will meet to develop action plans to address opportunities presented
in the survey results and will update the DCAC in its August 2021 meeting.

9. Oral Update on Implementation of Changes to Vanguard Target-Date Funds (Empower,
Bob Gleason)

Gleason reported that the Target-Date fund changes approved by the DCAC in March
2021 (i.e., new share classes, addition of five-year vintages) were implemented on April
16, 2021, and communicated to plan participants per documents in the meeting
packet.

NEW BUSINESS

10. Empower Reporting
A. Presentation of Quarterly Investment Review (Jeff Blanchard)
B. Presentation of Quarterly Plan Review (Bob Gleason)
C. Presentation of Annual Plan Review (Bob Gleason)

The presentations were accepted as is.

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