|Date: August 15, 2016||Time: 3:00 p.m.|
|x Regularly Scheduled||___ Special|
|Attendees:||Was a quorum present? No|
||Frank Picarelli (SegalRogersCasey)|
|Michael Carey||Vanessa Vargas (SegalRogersCasey)|
|Absent||Rob Luciani, Prudential|
|Sandra Fae Brown-Brewton||Mary Harlos, Prudential|
|Steve Greatorex||Joseph Fein, Prudential|
|Thomas Woodruff, Director, HPBSD|
|Margaret Haering, Assistant Director, HPBSD (via telephone)|
|Brenda Halpin, Director, RSD|
|Amy Cason, Associate, ARBO, HPBSD|
Frank Picarelli reviewed the past quarter’s investment performance and provided a summary of economic indicators by asset class. He also reviewed the plan activity in each of the three defined contribution plans and highlighted the number of participants who were invested in a single fund.
The committee will continue to work with our consultant to analyze the investment fund menu with a view to streamlining the line-up by eliminating duplicative selections.
Prudential reviewed the performance of the GoalMaker portfolios and compared their performance with the closest Vanguard Target Date funds.
Prudential provided details about investment utilization in the three plans. Although a number of participants are invested in target date funds, only one in four is using them correctly - as their single investment selection. A discussion ensued about a possible strategy for mapping assets out of the target date funds.
Analysis of Investment Performance, 457, 403(b) and 401(a) Plans (Segal RogersCasey)
2nd Quarter GoalMaker Performance (Prudential)
State of Connecticut Plan Review (Prudential)
Decisions voted upon:
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