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SAN MATEO COUNTY
DEFERRED COMPENSATION COMMITTEE MEETING
NOVEMBER 7, 2019 MINUTES
Committee Attendees Committee Absentees
Lisa Okada, Chair Steve Perry
Bridget Love
Robert Raw
Lilibeth Dames
Tiffany Htwe
Victoria Mejia
Steve Perry
Laurel Finnegan
Michael Wentworth
Staff MassMutual NFP
Jay Castellano Bob Gleason Paul Hackleman
Marife Viola Una Morabito Vince Learned
Kim Pearson Patrick Washington
The meeting was convened at 12:10.
Description of Item for Discussion Action Taken by Committee
1. Meeting Minutes The Committee had no changes to the August 22, 2019
meeting minutes and approved them unanimously
2. Quarterly Plan Review Bob reviewed the Executive Summary of the plan and
indicated that the assets rose from $494.9 to $498.3
million over the quarter. Loan balances increased
moderately by 5% as did participant contributions.
Withdrawals decreased but termination distributions
increased. Total loan amounts represent approximately
7% which is low compared to other MassMutual plans.
The loan balances were up 3%. Total calls to the 800
remain high. MassMutual discussed their expectations of
increased usage and assumed that millennials would
