The committee discussed the transition of the 457 Deferred Compensation Plan's target-date funds to a collective investment trust structure to achieve cost savings. They also addressed proposed amendments to the committee bylaws regarding the appointment of alternates and formalizing meeting participation expectations. Additionally, the committee evaluated the administrative fee structure for the deferred compensation plans, approved a transition of the core index funds to Fidelity options, and reviewed the third-quarter budget for the plan expense account. Future agenda items were identified, including an informational briefing on health reimbursement accounts.
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The Board meeting agenda includes the approval of service pension requests and educational program attendance for board members and staff. Key operational actions involve the exercise of final option periods for actuarial service contracts, approval of a one-year extension for PBI audit services, and the initiation of a new RFP. Administrative tasks include plans to digitize microfiche records. The board will also review preliminary performance reports, discuss a multi-asset credit manager search, evaluate the travel and expense policy, and receive updates on separated employees' distributions and pending final benefit payments. Reports from the investment committee chairperson and board chairperson are also scheduled.
