Description
Title: Deferred Compensation Advisory Committee Appointments.
Summary
On March 3, 2026, the San Jose City Council will consider the appointment of two members to the Deferred Compensation Advisory Committee (DCAC), which oversees the city’s voluntary Deferred Compensation Plans. The proposed appointments are Aric Johnson, representing management employees, and Jaime Fonseca, representing AFSCME Local 101. Both individuals are current committee members and seek reappointment for a four-year term, ensuring continuity in the committee’s operations. The DCAC plays a critical role in making investment policy decisions and advising on budgetary matters related to the plans, which serve approximately 16,497 participants and hold about $1.7 billion in assets. This legislation is important as it facilitates effective management of employee retirement funds, benefiting both active and