Deferred Compensation Board

MINUTES UNIFIED GOVERNMENT OF ATHENS-CLARKE COUNTY DEFERRED COMPENSATION BOARD REGULAR MEETING Wednesday, February 19, 2020, 3:30 PM The Athens-Clarke County Deferred Compensation Board held a special called meeting on Wednesday, February 19, 2019 at the Water Resource Center Training Room. The following were in attendance: ACCGov Pension Board Ordinance - Section 1-14-15 Members: 1. Tim Denson, Commissioner and Deferred Compensation Board Chair 2. Blaine Williams, Manager - ABSENT 3. David Boyd, Finance Director 4. Jeff Hale, Human Resources Director 5. John Spagna, Employee Representative 6. Richard Steed, Employee Representative 7. Community Representative, not yet appointed Ex Officio members: John Hawkins, Chief Assistant Attorney Laura Welch, Assistant Human Resources Director Traci Mason, Benefits & Wellness Administrator Other ACCGOV Professionals: Josh Edwards, ACCGov Assistant Manager (arrived 3:45 p.m.) The meeting was called to order at 3:33 p.m. 1. Approval of November 6, 2019 Meeting Minutes David Boyd moved to approve the minutes, seconded by Richard Steed. The motion passed unanimously. 2. Presentation by Representatives from AIG The required Annual Review of the Deferred Compensation provider, AIG was conducted by the board. Mark Drauth, Kerri Jenkins, David Michaux, and Roger Pearson provided a plan review, presented historical performance results through calendar year 2019, and offered information about the Secure Act. Ms. Jenkins offered to send the board an Investment Policy Statement sample and template. 3. Continue Review and Adoption By-Laws Board members were provided with copies of the by-laws. John Hawkins communicated to the board all updates to the by-laws since the inaugural meeting, including adding powers and duties and how the board will communicate with the Mayor & Commission. Jeff Hale moved to adopt the by-laws, seconded by John Spagna. The motion passed unanimously. ACCGov DEFERRED COMPENSATION BOARD Minutes – Regular Meeting, February 19, 2020 Page 1 of 2  4. Employee Comments or Other Issues a. Jeff Hale provided the board with a proposed contract revision from Nationwide, one of the deferred compensation providers. The company proposes reducing the return rate on certain assets to a 1% minimum guarantee over the next several years. The board agreed to discuss the issue at the next meeting. b. David Boyd made a motion to have all Deferred Compensation regular meetings at the Water Resource Center, seconded by Jeff Hale. The motion passed unanimously. David Boyd moved to adjourn the meeting, seconded by Jeff Hale. The meeting adjourned at 5:10 p.m. Respectfully submitted, Laura Welch, Assistant Human Resources Director Secretary to the Deferred Compensation Board ACCGov DEFERRED COMPENSATION BOARD Minutes – Regular Meeting, February 19, 2020 Page 2 of 2