Calvert County Employees Retirement Savings Plan Board of Trustees Quarterly Meeting
The Board reviewed a comprehensive presentation on plan assets, investment performance, and participant demographics. Key topics included discussions on retirement readiness, educational initiatives, and the plan's investment lineup, specifically regarding the utilization of Target Retirement Funds. The Board evaluated the status of the ERISA Budget Account and the Forfeiture Account, noting the need for future strategic planning for these funds. Significant deliberations occurred regarding the potential revision of the participant loan policy, with a focus on reducing the number of allowable concurrent loans and enhancing financial education resources for participants. Additionally, the Board reviewed the Fifth Amendment to the Plan, which aims to streamline loan administration through electronic processing, and discussed the need to share retirement savings trends and participant data with the Compensation Committee.