Description
Title: Regular Meeting Minutes
Summary
The document outlines a meeting of the Delray Beach Retirement Advisory Committee concerning the City’s 457 Plan, held on November 20, 2025. Key agenda items included administrative updates, investment reviews, and discussions on plan provisions under the SECURE Act 2.0. The meeting highlighted the transition to Empower Retirement services, with a blackout period for plan participants scheduled from February 2 to February 22, 2026. The committee unanimously approved motions to add loan and hardship distribution provisions to the plan. Additionally, the document discusses fiduciary responsibilities and the importance of retaining a third-party investment manager to mitigate liability. The meeting's outcomes affect city employees’ retirement plans and investment options, emphasizing the need for accessible, well-governed retirement