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Colleen C. Davis
State Treasurer


Plans Management Board



About the Board:

The Plans Management Board oversees the state’s investment programs. Available to the public, the 529 Educational Savings Plan hosts over 41,000 individual active accounts as of March 31, 2022. The 529 has continued to grow since its inception, helping residents plan for educational costs, and increasing college- and career-readiness. The 529A ABLE Savings Plan for individuals with disabilities opened in June of 2018, and holds nearly $2.1 million in assets. Finally, the Board supervises the Deferred Compensation Program which offers a 457(b) and 403(b) retirement plan for state employees. Over 32,000 state employees participate in the program with enrollment increasing rapidly over the last several years.

Duties of the Board:

  • Adopt rules and regulations for the general administration of its duties and establish subcommittees
  • Enter into any and all contracts, agreements, or arrangements necessary or desirable for carrying out the purposes of any of the Plans
  • Maintain, invest, and reinvest the funds contributed into the Plans consistent with the standard of care set forth
  • Approve the annual budget for each of the Plans and the collection of fees to defray all costs of the Plans
  • Arrange for an annual financial audit of each of the Plans, which shall be provided annually to the General Assembly

This body was established by Del. Code Title 29 Ch. § 2722 Plans Management Board.


 

Membership:

The Board is composed of 11 members, including the State Treasurer, the Secretary of Finance, the Director of the Office of Management and Budget, the Insurance Commissioner and the Secretary of Education. Each may appoint a person to serve in their stead. Two state employees appointed by the Governor, one of whom can participate in the 403b Plan, also serve on the Board alongside four public members appointed by the Governor.

View the members of the Plans Management Board:

Donna Vieira

Donna Vieira

Chair, Plans Management Board

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Alan A. Colberg

Alan A. Colberg

Chair, Investment Committee

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Pete Kennedy

Pete Kennedy

Chair, Audit & Governance Committee

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Colleen C. Davis

Colleen C. Davis

State Treasurer

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Trinidad Navarro

Trinidad Navarro

Insurance Commissioner

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Mark Holodick

Mark Holodick

Secretary of Education

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Richard J. Geisenberger

Richard J. Geisenberger

Secretary of the Department of Finance

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Leighann Hinkle

Leighann Hinkle

Member at Large, State Employee

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Cerron Cade

 

 

 

 

 

 

Cerron Cade

Director, Office of Management and Budget

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Dr. Jason Hale

 

 

 

 

 

 

Dr. Jason Hale

Member at Large

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Joel Coppage II

Joel Coppadge II

Public Member at Large

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The Audit and Governance Committee has the authority to review and make recommendations to the Board about all matters related to (i) Plan audits (ii) Plan amendments,  (iii) Plan-related cybersecurity issues; and other audit or governance matters pertaining to the Plans.

Members: Committee Chair Pete Kennedy, State Treasurer Colleen C. Davis, Tim Snyder, John Macedo.

The Investment Committee has the authority to review and make recommendations to the Board regarding  all matters related Plan investment options and Plan investment performance, and other investment-related matters pertaining to the Plans.

Members: Committee Chair Alan Colberg; State Treasurer Colleen C. Davis, Secretary of Finance Rick Geisenberger, Todd Roselle, David Biddle.

These committees exist to review specific programs, projects, or topics to make recommendations to the Board. Committee members may be experts who do not serve on the full Board.

Board Resource Materials:

Plans Management Board Members can find pertinent government materials here.

Fiduciary Training Presented by Ice Miller 9/13/2022

 

Delaware’s Freedom of Information Act and Public Records Law Training – September 14, 2021

 

Boards and Commissions Ethics Training – June 8, 2021

 

Fiduciary Training Fiduciary Duties Training – September 2, 2020

2023

August 7, 2023

College Savings on the Rise in Delaware

June 1, 2023

Program to Help Foster Youth Pursue Higher Education Returns

May 24, 2023

529 Day is 5/29

April 20, 2023

Treasurer Davis Offers Legislation to Boost Retirement Savings for State Employees

March 6, 2023

Almost $40,000 in “Free Money” Paid to DE529 Accounts

2022

December 8, 2022

Give the Gift of Education This Year

December 1, 2022

New Tax Deduction for Contributions to Savings Plans

November 3, 2022

Former Foster Youth Get Help to Further Education

July 21, 2022

Money Still Available for Foster Youth to Pursue Higher Education

July 1, 2022
Treasurer Davis to Help Fund New Education Accounts

Thursday, June 30, 2022
Two State Sponsored Savings Programs to Bring New Tax Deductions

Wednesday, June 22, 2022
Lawmakers Approve Treasurer’s Retirement Legislation

Tuesday, May 31, 2022
Program to Help Foster Youth Pursue Higher Education

Wednesday, May 25, 2022
May 29th is 529 Day

Thursday, February 17, 2022
Treasurer Davis Encourages Delawareans to Examine Saving Habits

2021

Tuesday, November 23, 2021
Give the Gift of Education this Holiday Season

Friday, September 17, 2021
College Savings Highlighted in Work of Office of the State Treasurer

Thursday, May 20, 2021
State Treasurer Colleen Davis Brings Forth Landmark Retirement Program for Delaware

February 4, 2021
Treasurer Davis Named to National Board to Help Families Save for Education

2020

August 12, 2020
State Treasurer Colleen Davis Marks #ABLEtoSave Month

July 23, 2020
Treasurer Davis Urges Change to Protect Financial Freedom of People with Disabilities

July 14, 2020
State Treasurer Urges Caution to Those Making Withdrawals From Retirement Funds

June 6, 2020
Treasurer Davis Says Now is the Time to Review Savings Plans

January 29, 2020
Treasurer Davis Interview Highlights Settlement to Help Teachers Retirement Investments

Click here to make a FOIA request regarding the Plans Management Board. All FOIA requests for the Board must be directed to the Office of the State Treasurer (OST) via the state FOIA portal. OST Director of Communications Carl Kanefsky serves as the FOIA Coordinator for the Board.

 

 

Audit and Governance Committee Meetings and Materials

Plans Management Board Meetings and Materials

Investment Committee Meetings and Materials

 



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