Description
Title: Deferred Compensation Advisory Committee Appointments. (Human Resources)
Summary
The document outlines the appointments to the Deferred Compensation Advisory Committee (DCAC) for the City of San Jose, specifically recommending Aric Johnson and Jaime Fonseca for four-year terms starting March 3, 2026. The DCAC is responsible for overseeing the city’s Deferred Compensation Plans, which include investments for approximately 16,497 participants, including active employees, retirees, and former employees, managing about $1.7 billion in assets. The recommendations arise from a nomination process involving employee groups, ensuring representation from management and labor organizations. Approval of these appointments will enable the DCAC to maintain its operations and continue making investment decisions that affect city employees' retirement savings. The item will be presented for action at the March 3, 2026