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Colleen C. Davis
State Treasurer


Plans Management Board Investment Committee Meeting Materials



2021

AGENDA

I. Introductions

II. Approval of the Minutes for February 16, 2021

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Deferred Compensation Plans Quarterly Review

2. State of Delaware Memo – Voya’s Process for Review of Outside Providers

B. Investment Performance on College Investment Plan

1. State of Delaware 529 Plan Quarterly Review

IV. Discussion and Action Items

A. Recommendation Regarding Placing Lazard International on Watch

B. Discussion and Recommendation on College Plan Administration Fund Balances

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – August 17 , 2021

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes 11-17-20

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report 12-31-20 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 12-31-20 (Full Report)

3. State of Delaware Value Funds and Objectives

B. Investment Performance on College Investment Plan

IV. Discussion and Action Items

A. 2021 Committee Goals

B. 2021 Education Schedule

C. Recommendation Regarding Notice of Assignment for Investment Consultant Agreement

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – May 18, 2021

VIII. Adjournment

2020

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes for May 19, 2020

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report 6-30-20 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 6-30-20 (Full Report)

3. State of Delaware Stable Value Overview

B. Target Date Overview by American Funds

C. Investment Performance on College Investment Plan

IV. Discussion and Action Items

A. Watch List Recommendations

B. Investment Policy Statement Review-Deferred Compensation Plans

C. Investment Policy Statement Review- [DRAFT] College Invesment Plan

D. Recordkeeper RFPs and Contract Extensions

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – November 17, 2020

VIII. Adjournment


AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes for May 19, 2020

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report 6-30-20 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 6-30-20 (Full Report)

3. State of Delaware Stable Value Overview – August 2020

B. Target Date Overview by American Funds

C. Education Savings Plan Fiduciary Due Diligence Report 6-30-20

IV. Discussion and Action Items

A. Watch List Recommendations

B. Investment Policy Statement Review-Deferred Compensation Plans

C. Investment Policy Statement Review- [DRAFT] College Investment Plan

D. Recordkeeper RFPs and Contract Extensions

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – November 17, 2020

VIII. Adjournment


AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes from February 18, 2020

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report 3-31-20 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 3-31-20 (Full Report)

3. Asset Class Discussion May 2020

B. Investment Performance on College Investment Plan

C. College Investment Plan Strategic Equity Allocation update by Fidelity

IV. Discussion and Action Items

A. Watch List Recommendations

B. Recommendation to add American Funds 2065 Target Date Retirement Fund-Class R-6

C. Recommendation Regarding Managed Account and Self-directed Brokerage Services

D. Discussion of National ABLE Alliance Emerging Markets Manager Search

E. Discussion of National ABLE Alliance and Fifth Third Bank

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – August 18, 2020

VIII. Adjournment


AGENDA

I. Introductions

II. Approval of the Minutes 11-19-2019

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report 12-31-19 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 3-31-20 (Full Report)

B. Investment Performance on College Investment Plans

IV. Discussion and Action Items

A. Watch List Discussion and Recommendation

B. ABLE Plan Share Class Change Vanguard Short-Term Inflation Protected Index Fund

C. Discussion on 2020 Committee Goals

D. Discussion and Recommendation of Investment Consultant Request for Proposal

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – May 19, 2020

VIII. Adjournment

2019

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes for August 20, 2019

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report (Abridged)

2. State of Delaware Fiduciary Due Diligence Report (Full Report)

a. JPMorgan US Small Company Fund

B. Investment Performance on College Investment Plans

IV. Discussion and Action Items

A. Watch List Discussion and Recommendations

B. Discussion of Investment Policy Statement- College Investment Plan

C. Discussion of Investment Consultant Request for Proposal

D. Discussion and Recommendation Regarding Investment Consultant Agreement Extension Through March 31, 2019

E. Discussion and Recommendation on Fidelity’s Proposed Changes to 529 Investment Management Agreement

V. Public Comment

VI. Executive Session-none scheduled

VII. Next Meeting – February 18, 2020

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from February 19, 2019 Meeting

III. Presentations

A. Investment Performance on Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report (Abridged)

2. State of Delaware Fiduciary Due Diligence Report (Full Report)

3. State of Delaware Additional Investment Analysis Tier 2 Mutual Funds (Actively Managed)

4. State of Delaware Memo – Voya’s Review of Morningstar and TD Ameritrade

B. Investment Performance on College Investment Plans

C. Fidelity College Investment Plan Removal of Multi-firm and Addition of Blend Option

IV. Discussion and Action Items

A. Proxy Voting Policy

B. Fidelity College Investment Plan Removal of Multi-Firm Option and Addition of Blend Option

V. Public Comment

VI. Executive Session

VII. Next Meeting – August 20, 2019

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from November 20, 2018 meeting

III. Presentations

A. Deferred Compensation Plans

1. State of Delaware Fiduciary Due Diligence Report (Abridged)

2.

B. College Investment Plan

IV. Discussion and Action Items

A. Committee Goals and Objectives for 2019

B. Watch List and Replacement Recommendations

V. Public Comment

VI. Executive Session

VII. Next Meeting – May 21, 2019

VIII. Adjournment

2018

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes for August 21, 2018

III. Vendor Presentations on Investment Performance

A. College Investment Plan by Fidelity Investments

B. Deferred Compensation Plans by Cammack Retirement Group (Cammack)

IV. Discussions and Action Items

A. Review and Approval of Cammack Contract extension and Amendment

V. Public Comment

VI. Executive Sessions

A. None scheduled

VII. Next Meeting – February 19, 2019

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of Minutes

A. May 22, 2018 Investment Committee Meeting

III. Presentations

A. College Investment Plan by Fidelity Investments

1. Delaware College Investment Plan Competitor Age-Based Portfolio Comparisons June 30, 2018

2. Delaware College Investment Plan Q2 2018 Board Review

3. Delaware College Investment Plan Investment Performance Review

B. Deferred Compensation Plans by Cammack Retirement Group

1. State of Delaware Fiduciary Due Diligence Report 6-30-18 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 6-30-18 (Full Report)

a. ClearBridge

b. Target Date Fund Overview by American Funds

1) State of Delaware Deferred Compensation AFTD Review

2) Cammack State of Delaware Default Investment Option Discussion

IV. Discussions

A. Investment Policy Statements

1. Cammack Relationship Summary Memo OST Investment Recommendation Final 2016

2. Draft Investment Policy Statement 9-5-18

3. Draft Investment Policy Statement June 30 Cumulative Redline

B. Investment Options – Delaware DEFER

C. Investment Options

D. Self Directed Brokerage

V. Public Comments

VI. Executive Sessions (none scheduled)

VII. Next Meetings

A. Plans Management Board September 5, 2018

B. Investment Committee Meeting November 20, 2018

VIII. Adjournment

AGENDA

I. Introductions

A. Approval of Committee Members Designees

B. Discussion and approval of Committee Vice-Chair

II. Approval of Minutes

A. February 20, 2018 Investment Committee Meeting

III. Presentations

A. College Investment Plan by Fidelity Investments

1. Delaware College Investment Plan Competitor Age-Based Portfolio Comparisons March 31, 2018

2. Delaware College Investment Plan Q1 2018 Board Review

3. Delaware College Investment Plan Investment Performance Review

B. Deferred Compensation Plans by Cammack Retirement Group

1. State of Delaware Fiduciary Due Diligence Report 3-31-18 (Abridged)

2. State of Delaware Fiduciary Due Diligence Report 3-31-18 (Full Report)

IV. Discussions

A. Investment Policy Statements

1. Draft Investment Policy Statement 2018 Redline

2. Draft Investment Policy Statement June 12, 2018

3. OST Investment Policy Statement Presentation May 22, 2018

V. Public Comments

VI. Executive Sessions (none scheduled)

VII. Next Meetings (PMB 6/12/18, IC 8/21/18)

VIII. Adjournment

AGENDA

I. Introductions

II. Presentations

A. Investment Performance on Deferred Compensation Plans by Cammack Retirement Group

B. Investment Performance on College Investment Plan by Fidelity

III. Discussions

A. Feedback on Investment Reporting Package Structure

B. 2018 Schedule and Committee Initiatives

IV. Public Comments

V. Adjournment



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