Official Web Site of the City of Phoenix

NOTICE OF RESULTS

CITY OF PHOENIX
EMPLOYEES’ DEFERRED COMPENSATION BOARD

 

Pursuant to A.R.S. Section 38-431.02, notice is hereby given to the members of the EMPLOYEES’ DEFERRED COMPENSATION bOARD and to the general public, that the EMPLOYEES’ DEFERRED COMPENSATION bOARD held a meeting open to the public on November 20, 2008 at 8:30 a.m. located in Room 100, 1^st Floor, Personnel Department Building, 135 North 2^nd Avenue, Phoenix, Arizona.

 

One or more members of the Employees’ Deferred Compensation Board may participate via teleconference call.

 

The results of the meeting were as follows:

 

RESULTS
	1.	Call to Order	Alton Washington
Approved	2.	Approval of the Minutes from the October 16, 2008 Meeting.   This item is for discussion and action.	Alton Washington
Reviewed and recommendation approved.	3.	Review by R.V. Kuhns & Associates of Quarterly Performance Report  for investment options in the city’s 457 and 401(a) Plans including:   ● Executive Summary of the Plans’ contributions and distributions, including clarification of ownership of underlying holdings in the Morley Stable Value Fund. ● Fund Manager Updates, including request for Board approval of recommendation to remove Janus Mid Cap Value Fund from the Watch List. ● Investment Policy Review, including criteria for placing funds on the Watch List. ● Breakdown of performance of funds in the Plans.   Ben Taylor will be participating via teleconference.   This item is for information and possible action.	Peter Madsen Ben Taylor
Reviewed and approved.	4.	Nationwide’s Review of the Retained Revenue Outlook for the City’s 457 and 401(a) Plans. Nationwide’s Request for Board Approval to increase the fee to be paid to Morley Financial Services, Inc. as the Manager of the 457/401(a) Plans’ Stable Value Fund, which results in an increase to the revenue sharing paid to Nationwide by Morley to offset recordkeeping charges incurred by the Plans from 0.19% to 0.32% effective December 1, 2008.  Nationwide’s Request for Board Approval of an amendment to the agreement with Morley to reflect this increase in fees.    This item is for information and action.	Yota Aguilar
Reviewed.	5.	Plan Administrator’s Quarterly Report on Nationwide Retirement Solutions’ Services including status updates on: ● Annual Business and Education Plan Goals ● Contractual Performance Standards ● Schwab Self-Directed Brokerage Account Quarterly Report ● Statistics Regarding Participants ● Contributions and Distributions ● Quarterly Revenue Reconciliation   ● Summary of 457 and 401(a) Plan Assets.   This item is for information and possible action.	Yota Aguilar
Reviewed.	6. *	Review of Letter and News Release regarding Nationwide Financial Services Third Quarter Earnings.   This item is for information only.	Yota Aguilar
Reviewed.	7.	Staff’s Report on General Plan Administration Issues including: ● Review of Morley Financial Services Memo regarding Wrap Issuer Update ● 2009 Board Meeting Dates ● 2009 IRS Annual Limits for 457 and 401(a) Contributions ● Review of List of Future Agenda Items *   This item is for information only.	Kathy Schelbrock
	8.	Future Agenda Items.
	9.	Call to the Public.
	10.	Adjournment.

 

For further information, please call Kathy Schelbrock, Personnel Analyst II, Personnel Department , Benefits Office at 602-256-3282.

 

For reasonable accommodations, call Jenelle Hancock at Voice/602-534-3910 or TTY/602-261-8687 as early as possible to coordinate needed arrangements.

 

 

 

 

 

 

 

 

 

 

 

November 18, 2008