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recommended that future DC Committee agendas
include an opportunity to allow public comment.
Although the public rarely attendees DC meetings, future
DC agendas will include the provision to solicit input
from the public on any item identified in the agenda. A
complete description of Tim’s discussion is contained in
the powerpoint presentation he used to illustrate the
important responsibilities that address Brown Act
requirements.
3. Review and Accept Update on Fund changes On February 7, 2019 funds were changed per the prior
Base on November Investment Report. meeting approvals. Mapping was provided as agreed
Investment Policy upon and the Committee accepted the results of the
changes that were made.
4. Review and Accept Quarterly Investment Jeff discussed the fourth quarter results which were
Performance Review largely negative but virtually all asset classes recovered
4 quarter losses within the 2019 first quarter to date
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gains. Jeff provided a full report contained in Committee
attachments which summarized 4 quarter activities in
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various asset classes
5. Review and Accept Quarterly Plan Summary Given the time of the items on the agenda Bob
Report highlighted only a few of the elements of the report,
primarily in the executive summary. Assets grew by $35
million and total participation as of February 26, was
82% of total eligibles which is very high within the
industry. Also, there was little “flight to safety” during the
4 quarter downturn which was received as positive by
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both MassMutual and the Committee.
6. Discuss and Accept Report on LMS System The County reported that education provided by
Changes MassMutual would count toward LMS education. The
Committee agreed there would be a status report
provided at the Committee meeting in May.
7. Discuss and Approve Changes to Target Matt summarized the educational discussions the
Date Funds Committee has held on TDFs and especially the DOL
requirements of reviewing underlying funds and the
results of NFP’s demographic review which suggested
the County should select a “moderate” TDF and further
reviewed the recommendation that NFP would suggest
the Index Select Fund. The Committee voted to:
1. Accept NFP as a 3-38 provider with full fiduciary
responsibility being accepted by NFP. It was
clear in this new adoption that NFP would
