Description
Title: Meeting Minutes
Summary
The document outlines the proceedings of a meeting held on March 3, 2026, related to the City of Delray Beach's 457 Plan, a retirement savings plan for city employees. Key discussions included updates on the transition of assets from MissionSquare to Empower, which has faced delays. Wealthspire Retirement Advisory provided insights into the investment portfolio, noting that as of December 31, 2025, the plan held over $87 million in assets across various investment categories. The meeting emphasized the importance of prudent fiduciary practices, highlighted by a recent court case that reinforced the value of hiring third-party investment managers. Additionally, proposed legislation for 403(b) plans to access collective investment trusts (CITs) could improve retirement security for employees