Description
Meeting Minutes
Summary
The June 3, 2026 City of Delray Beach Deferred Compensation Committee minutes document decisions affecting employees and retirees in the City’s 457(b) and 401(a) retirement plans. The Committee agreed to update policy so City employer contributions go to the 401(a), avoiding potential reductions in employees’ 457(b) contribution capacity under SECURE Act 2.0. It also approved loans from vested 401(a) balances under existing 457(b) rules and restored retirees’ ability to select specific investments for distributions. The plans held about $73.8 million as of March 31, 2026; 28 funds were acceptable and one was on a watchlist. The Committee also reviewed fiduciary compliance, fees, and pending federal retirement-plan developments.
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