Page 4 - NovDefComp

SAN MATEO COUNTY
DEFERRED COMPENSATION COMMITTEE MEETING
ZOOM Meeting: August 27, 2020 MINUTES

Committee Attendees Committee Absentees

Lisa Okada, Chair Laurel Finnegan
Bridget Love Victoria Mejia
Robert Raw
Lilibeth Dames
Tiffany Htwe
Steve Perry
Michael Wentworth

Staff MassMutual NFP

Jay Castellano Bob Gleason Paul Hackleman
Marife Viola Patrick Washington Bill Tugaw
Kim Pearson Jeff Blanchard

The Zoom meeting was convened at 9:05.
Description of Item for Discussion Action Taken by Committee
1. Roll Call / Public Comments The roll call was taken by voice and it was determined
that there was one member of the public on the line.
2. Protocols for Conference Call Paul notified that members should identify when they
have something to say and that any action items will be
conducted by roll call instead of general ayes and nays.
3. Minutes The minutes from the May 21, 2020 meeting were
reviewed and approved unanimously.
4. Presentation of Quarterly Investment Review Jeff reminded the Committee of the poor general market
conditions in the first quarter as well as the significant
rebound that took place in the 2 quarter which
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continues 2/3rds into the 3 quarter. The 35%-40%
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reduction (the market low on March 23, 2020) has been
followed by a significant rally attributable largely to better
than anticipated market expectations and the fiscal /