Description
Report
Summary
The document is a June 2026 administrative and investment review of the City of Delray Beach’s 457(b) deferred-compensation retirement plan, not legislation. It describes how the plan affects eligible city employees and former employees by providing tax-advantaged savings, investment choices, loans, managed accounts, and target-date funds. Of 593 eligible participants, 524 were contributing, an 88.36% participation rate. The plan held approximately $80.6 million, with an average balance of $98,840 and an average contribution rate of 7.49%. Its median projected retirement-income replacement score was 73.11%, based on hypothetical assumptions. The report also details fees, asset allocation, investment performance, participation by age and tenure, and loan activity. It matters for public oversight because it gives plan sponsors and participants information about retirement preparedness, use of benefits, and investment risks; results are not guarantees of future performance.
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