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Colleen C. Davis
State Treasurer


Plans Management Board Audit and Governance Committee Meeting Materials



 

2021

AGENDA

I. Introductions

II. Approval of the MinutesNovember 10, 2020

III. Discussions and Action Items

A. 2021 Committee Goals

B. 2021 Education Schedule

C. Update on Audit Report Item-Uncashed Check Process

D. Review of Resolution 2018-01

E. Resignation Policy

IV. Public Comment

V. Executive Session- None Scheduled

VI. Next Meeting – May 11, 2021

VII. Adjournment

2020

AGENDA

I. Introductions

II. Approval of the MinutesAugust 11, 2020

III. Discussions and Action Items

A. Morningstar 529 Rating Update

B. Update on Audit Report Item- Uncashed Check Process

C. Vendor Management Status Update

D. Recordkeeper RFPs and Contract Extensions

IV. Public Comment

V. Executive Session- None Scheduled

VI. Next Meeting – February 9, 2021

VII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes from February 11, 2020

B. Minutes from April 17, 2020 Special Meeting

III. Discussions and Action Items

A. Recommendation on Training Policy

B. Recommendation on SECURE Act Amendments

C. Recommendation Regarding 457 (b) State Administrative Fee

D. Recommendation on Training Dates

E. Update and Recommendations on CARES Act (Loan Repayment Suspension)

IV. Public Comment

V. Executive Session

A. None Scheduled

VI. Next Meeting

A. August 11, 2020

VII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from November 12, 2019

III. Presentations

A. Review of 2019 Committee Accomplishments and 2020 Goals

B. Update on Audit Findings

C. Annual Review of Staff Expenses

D. SECURE Act Update

IV. Discussions and Action Items

A. 2020 Goals

B. 403(b)Plan Amendment (Loans)

C. 457 Plan Amendment (SECURE Act)

D. Voya Contract Extension

V. Public Comment

VI. Executive Session

A. None Scheduled

VII. Next Meeting

A. Plans Management Board Meeting on March 3, 2020

B. Committee Meeting on May 12, 2020 at Buena Vista

VIII. Adjournment

2019

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes from August 13, 2019

III. Presentations

A. Audit Presentations

1. 2016, 2017, and 2018 403(b) Plan Audit Reports

IV. Discussions and Action Items

A. Recommendation Regarding 403(b) Plan Audit Reports

1. Governance Manual Policy Development Update

a. Recommendation Regarding Audit Policy

b. Recommendation Regarding Budget Policy

B. Recommendation on Plan Amendment

1. Automatic Cash Out for Terminated Accounts Below $1,000

V. Public Comment

VI. Executive Sessions – None Scheduled

VII. Next Meeting – February 11, 2020

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from May 14, 2019

III. Presentations

A. Audit Presentations

1. Committee Recommendations on Audit Report

a. Deferred Compensation Plan Audits

1). 2018 457(b) and 401(a) Plans (final)

a) State of Delaware 401(a) Match Plan

b) State of Delaware Deferred Compensation Plan

2). 2016, 2017 403(b) Plan (draft)

b. 2018 College Investment Plan Audit

IV. Discussion and Action Items

A. Recommendation Regarding Plan Audit Reports

B. Governance Manual Policy Development Update

1. Recommendation Regarding Reimbursement Policy

2. Recommendation Regarding Indemnification Policy

C. 403(b) Plan Amendment-Remove Six-month Suspension Contribution Provision

D. Automatic Cash Out for Terminated Accounts Below $1,000

1. Automatic Cash Out for Terminated Accounts Below $1,000 Amendment One

2. Automatic Cash Out for Terminated Accounts Below $1,000 Amendment Two

V. Public Comment

VI. Next Meeting – November 12, 2019

VII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from November 13, 2018

III. Presentations

A. 2018 Accomplishments and 2019 Committee Objectives

IV. Discussions and Action Items

V. Public Comment

VI. Executive Session

VII. Next Meeting – May 14, 2019

VIII. Adjournment

2018

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes for August 14, 2018

III. Public Comment

IV. Executive Sessions

A. None scheduled

V. Next Meeting – February 12, 2019

VI. Adjournment

AGENDA

I. Introductions

II. Approval of Minutes

A. May 15, 2018 Audit & Governance Committee Meeting

III. Presentations

A. Audit Presentations – 2015 403(b), 2016, 2017 457(b) and 401(a) Plans

1. State of Delaware 403(b) Plan Audit Summary

2. State of Delaware 403(b) Plan Summary of Findings and Recommendations

3. State of Delaware 457(b) Plan Audit Summary

4. State of Delaware 403(b) Plan Draft Financial Statements for Dec. 31, 2015 and 2014

5. State of Delaware 403(b) Plan Draft Communication for Those Charged with Governance for Dec. 31, 2015 and 2014 Audit

6. State of Delaware Match Plan Draft Financial Statements for Dec. 31, 2017 and 2016

7. State of Delaware Deferred Compensation Plan Draft Financial Statements for Dec. 31, 2016 and 2015

8. State of Delaware Match Plan Draft Communications Letter Dec. 31, 2017

9. State of Delaware Match Plan Draft Communications Letter Dec. 31, 2016

10. State of Delaware Deferred Compensation Plan Draft Financial Statements for Dec. 31, 2016 and 2015

11. State of Delaware Deferred Compensation Plan Draft Communications Letter Dec. 31, 2016

12. State of Delaware Deferred Compensation Plan Draft Communications Letter Dec. 31, 2017

13. State of Delaware Deferred Compensation Plan Draft Financial Statements for Dec. 31, 2017 and 2016

B. Governance Manual

IV. Discussions and Action Items

A. Budget Related Items

1. PMB Calendar Year 2018 Budget

2. AGC Committee Memo Follow Up Items

B. Allocation and Payment of Plan Expenses Policy

C. 529 Administrative Fee Balances (See Follow Up Memo)

D. 457 Administrative Fee Carve Out (See Follow Up Memo)

E. Auditor’s Office Fee

1. AOA Contract Cost Allocation Proposal

2. OST-AOA MOU Final 3-28-18

F. Fiduciary Training Slides

V. Public Comments

VI. Adjournment

AGENDA

I. Introductions

II. Approval of Minutes

A. February 28, 2018 Audit & Governance Committee Meeting

III. Presentations

A. Governance Review

IV. Discussions and Action Items

A. Budget Related Items

1. Administrative Fee Balances

2. Voya Performance Guarantee

3. Audit Related Items

a. AOA Contract Cost Allocation Proposal

b. BLS Memo to PMB 4-24-18

c. OST-AOA MOU Final 3-28-18

4. Ice Miller Contract and Training Proposal

a. NAPPA 2018 Presentation

b. Ice Miller Letter – Deferred Compensation Fiduciary Duties and Best Practices 4-23-18

c. Ice Miller Memo – Contract Extension

V. Public Comments

VI. Adjournment

AGENDA

I. Introductions and Approval of Designees and Vice Chair

II. Presentations

A. Introduction to the Committee and Plans

1. Audit Committee Presentation

2. Audit Committee Introductory Memo

III. Discussion and Possible Action Items

A. Cammack Recommendation on Plan Expense Reimbursement Account (PERA)

B. Declaration of Delaware Qualified Savings Plan Trust

1. Delaware Treasurer Qualified Tuition Savings Plan (529)

2. Declaration of Delaware Qualified Savings Plan Trust Memo

C. ABLE Administration Fee Recommendation-compressed

D. Budget Proposal to the Plans Management Board

IV. Public Comments

V. Adjournment

 



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