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Colleen C. Davis
State Treasurer


Plans Management Board Meeting Materials



2021

AGENDA

I. Introductions

II. Approval of Minutes 12-8-20

III. Presentations

A. Quarterly Business Metrics Report
B. Quarterly Business Metrics Report College Investment Plan by Fidelity

IV. Committee Reports, Discussions and Action Items

A. Recommendation Regarding 2021 Committee Goals
B. Recommendation Regarding Resignation Policy
C. Recommendation Regarding Assignment of Investment Consultant Agreement
D. Discussion and Action Regarding the College Investment Plan RFP
E. 2021 Education Schedule
F. 2021 Plans Budget and Investment of Administrative Funds
G. Policy and Legislative Updates

V. ABLE Report

VI. Public Comment

VII. Executive Session

VIII. Next Meeting-June 8 , 2021

IX. Adjournment

2020

AGENDA

I. Introductions

II. Approval of Minutes

A. September 1, 2020

B. October 5, 2020

III. Presentations

A. Quarterly Business Metrics Report Deferred Compensation Plans by Voya

B. Quarterly Business Metrics Report College Investment Plan by Fidelity

IV. Committee Reports, Discussions and Action Items

Morningstar 529 Plan Rating

A. Recommendation Regarding RFP and Recordkeeper Contract Extension for Deferred Compensation Plans

B. Recommendation Regarding Changes to the Investment Management Agreement for the College Investment Plan

C. Recommendation regarding the Investment Policy Statement for the College Investment Plan

D. 2020 Plan Budget Update

E. Policy and Legislative Outlooks for 2021

V. ABLE Report

VI. Public Comment

VII. Executive Session

VIII. Next Meeting- March 2, 2021

A. PMB Meeting Calendar 2021

IX. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes June 2, 2020

III. Presentations

A. Fiduciary Training and Best Practices by Ice Miller and Cammack

B. Quarterly Business Metrics Report Deferred Compensation Plans by Voya

C. Quarterly Business Metrics Report College Investment Plan by Fidelity

IV. Committee Reports and Action Items

A. Recommendation Regarding 2019 Audit Reports

1. State of Delaware Deferred Compensation Plan

2. State of Delaware 401(a) Match Plan

3. State of Delaware 403(b) Plan

4. Delaware Qualified Tuition Savings Plan Trust

B. Recommendation Regarding Communication Policy

C. Recommendation Regarding College Plan RFP and Recordkeeper Contract Extension

D. Recommendation Regarding Removal of JPMorgan Small Company R6 from Watch

E. Recommendation Regarding Removal of Templeton Global Bond R6

F. Recommendation to Add Outside member to Investment Committee

V. ABLE Report

VI. Public Comment

VII. Next Meeting December 8, 2020

VIII. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes

A. Approval of Minutes March 3, 2020

B. Approval of Minutes April 23, 2020

III. Presentations

A. Quarterly Business Metrics Report on Deferred Compensation Plans by Voya

B. Quarterly Business Metrics Report on College Investment Plan by Fidelity

IV. Discussion and Action Items

A. Committee Reports and Action Items

1. Proposed Training Policy

2. Proposed Fiduciary Training Date

3. Resumption of Administrative Fee for 457(b) Plan

4. 457 Plan Amendments (SECURE Act)

5. CARES Act Loan Repayment Provisions

6. Removal of American Funds Washington Mutual R6 and Target Date Series from Watch List

7. Addition of American Funds 2065 Target Date Retirement Fund-Class R-6

8. Managed Account and Self-Directed Brokerage Services ProvidersSupporting Docs/Links attached to this item

V. ABLE Report

A. Emerging markets manager search

B. Fifth Third Bank issues

VI. Public Comment

VII. Executive Session

VIII. Next Meeting September 1, 2020

IX. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes December 10, 2019

III. Presentations

A. Deferred Compensation Plans by Voya Financial

B. Deferred Compensation Plans by Voya Financial

C. 529 Awareness Campaign Update by Aloysius, Butler, & Clark

IV. Discussions and Action Items

A. 529 Match Concept

B. Committee Reports and Recommendations

1. Committee 2020 Goals

2. 403(b) Plan Amendments (Loans)

3. 457 Plan Amendments (SECURE Act)

4. Voya Contract Extension

5. Templeton Global Bond R6 (Watch List)

6. Investment Consultant RFP Award

C. ABLE Plan Share Class Change and Delegation of ABLE Authority

D.2020 Plan Budget

V. ABLE Report

VI. Public Comment

VII. Executive Session

VIII. Next Meeting June 2, 2020

IX. Adjournment

2019

AGENDA

I. Introductions

II. Approval of the Minutes

A. Minutes from 9-4-19

III. Presentations

A. Deferred Compensation Plans by Voya Financial

B. College Investment Plan by Fidelity

IV. Discussions

A.529 Match Concept and 529 Awareness Campaign Update

B. 2019 Budget Update

V. Committee Reports and Board Action Items

A. Recommendation to accept the 403(b) Plan Audit Reports for Plan Years 2016, 2017, 2018

1. State of Delaware 403(b) Plan December 31, 2016 and 2015

2. State of Delaware 403(b) Plan December 31, 2017 and 2016

3. State of Delaware 403(b) Plan December 31, 2018 and 2017

B. Recommendation to approve the Audit Policy and Budget Policy

C. Recommendation to approve the Involuntary Small Balance Cash-out 457(b) and 401(a) Plan Amendment

D. Discuss recommendation to place American Funds Washington Mutual R6 and Target Date Series on Watch List

E. Discuss recommendation to approve Investment Consultant Agreement Extension

F. Discuss recommendation to accept Fidelity’s proposed changes to 529 Investment Management Agreement

VI. ABLE Report

VII. Public Comment

VIII. Executive Session-none scheduled

IX. Next meeting- March 3, 2020

A. PMB Schedule 2020

X. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from June 4, 2019

III. Presentations

A. Deferred Compensation Plans by Voya Financial

B. College Investment Plan by Fidelity

IV. Discussions

A. Delaware Scholarship Programs by Delaware Department of Education

B. College Scholarship and Incentive Program Options

V. Committee Reports-Action Items

A. Audit Reports

1. Deferred Compensation Plan Audits 2018 (457(b), 401(a))

2. Delaware College Investment Plan Audit 2018 (529)

B. Policy Approval

1. Reimbursement Policy

2. Indemnification Policy

C. Amendments

1. 403 (b) Plan Amendment-Remove Six-month Suspension Contribution ProvisionSupporting Docs/Links attached to this item

D. Investment Management Agreement-Fidelity

E. Investment Consultant Request for Proposal

VI. ABLE Report

VII. Public Comment

VIII. Next Meeting, December 10, 2019

IX. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from March 5, 2019

III. Presentations

A. Training by Public Integrity Commission

B. Deferred Compensation Plans by Voya Financial

C. College Investment Plan by Fidelity Investments

IV. Discussions – Awareness Campaign for College Investment Plan

A. OST discussion College Awareness Campaign

B. ABC Introduction of Strategy for Awareness Campaign

V. Committee Reports and Board Action Items

A. Proxy Voting Policy

B. Fiduciary Decision Documentation Policy

C. Administrative Fee for 457(b) Plan

D. Recommendation to Place JP Morgan US Small Company Fund on Watch List

E. College Investment Plan Investment Changes Proposal

F. College Investment Plan Awareness Campaign Budget

VI. ABLE Report

VII. Public Comment

VIII. Executive Session

IX. Next Meeting – September 4, 2019

X. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes from December 4, 2018

III. Vendor Presentations on Business Results

A. Deferred Compensation Program – Voya

B. College Investment Plan – Fidelity

IV. Strategic Discussion for College Investment Plan

V. Committee Reports and Board Action Items

A. Recommendation of Termination and Replacement of Clear Bridge Mid-Cap

B. Schedule Ethics and Freedom of Information Act Training

C. Voya Contract Extension

D. Documentation of Managed Account Service and Self-directed Brokerage Provider

E. Approve Special Tax Counsel

F. Approve Budget

VI. ABLE Report

VII. Public Comment

VIII. Executive Session

IX. Next Meeting – June 4, 2019

X. Adjournment

2018

AGENDA

I. Introductions

II. Approval of the Minutes September 5, 2018

III. Vendor Presentations on Business Results

A. Deferred Compensation Program – Voya

B. College Investment Plan – Fidelity

IV. Strategic Discussion for College Investment Plan

V. Investment Committee Report

A. Investment Performance of College Investment Plan

B. Investment Performance of Deferred Compensation Program

C. Review and Approval of Cammack Contract Extension and Amendment

1. Cammack Memo

2. Cammack Contract

3. Ammendment to Professional Services Agreement

VI. Audit and Governance Committee Report

A. Fiduciary Training

VII. ABLE Report

VIII. Update on OST Administration Transition

IX. Public Comment

X. Next Meeting – March 5, 2019

XI. Adjournment

AGENDA

I. Introductions

II. Approval of Minutes

A. June 12 2018 PMB Meeting

III. Vendor Presentations on Business Results

A. Deferred Compensation Program by Voya Financial

1. Delaware Defer Email July 2018

B. College Investment Plan by Fidelity Investments

IV. Strategic Plan for College Investment Plan

A. College Investment Plan –Strategic Direction

B. Fidelity K-12 Viewpoint

1. Review and Approval of College Mission Statement and Goals

2. Review and Approval of Creative Brief with Aloysius Butler & Clark

V. Investment Committee Report

A. Investment Committee Memo

B. Investment Policy Statement

C. Investment Performance of Deferred Compensation

D. Investment Performance of College Investment Plan

E. Review and Approval of Investment Policy Statement for Deferred Compensation Program Investment Policy Statement

VI. Audit and Governance Committee Report

A. Acceptance of Plan Audits

1. State of Delaware Match Plan – Communications Letter 2017

2. State of Delaware Match Plan – Communications Letter 2016

3. State of Delaware Deferred Compensation Plan – Communications Letter 2017

4. State of Delaware Deferred Compensation Plan – Communications Letter 2016

5. State of Delaware 403(b) Plan – Communications Letter 2015

B. Review and Approval of the Governance Manual (Table of Contents)

C. Review and Approval of the Plan Expense and Allocation Policy

D. Approval of 457(b) Legacy Fees Carve-Out

E. Review and Approval of MOU with the Auditor’s Office

VII. Budget

A. Review and Approval of Revised Budget

VIII. ABLE Report

A. Launch Update

B. Delegation of Authority to Execute Non-Substantive ABLE Amendments

IX. Public Comment

X. Executive Sessions – None Scheduled

XI. Next Meeting

A. Fiduciary Training – November 13, 2018 at DHHS Chapel Herman Holloway Campus New Castle

B. Full Board Meeting: December 4, 2018 OST Dover

XII. Adjournment

AGENDA

I. Introductions

II. Approval of New Audit and Governance Committee Chair

III. Approval of Minutes

A. Minutes from March 6, 2018

IV. Vendor Presentations on Business Results

A. Deferred Compensation Program by Voya Financial

1. Delaware DEFER Email December 2017

2. Delaware DEFER Email January 2018

3. Delaware DEFER Email May 2018

B. College Investment Plan by Fidelity Investments

V. Strategic Plan for College Investment Plan

A. Review and approval of College Mission Statement and Goals

VI. Investment Committee Report

A. Investment Performance of Deferred Compensation

B. Investment Performance of College Investment Plan

C. Update Regarding Deferred Compensation Program Investment Policy Statement

VII. Audit and Governance Committee Report

A. Review and approval of Budget-related items

1. Administrative Fee for Deferred Compensation Program

2. Audit Contract Increase

3. Ice Miller Contract Extension

4. Fiduciary Training

VIII. ABLE Report

IX. Public Comment

X. Next Meeting – Full Board Meeting: September 5, 2018

XI. Adjournment

AGENDA

I. Introductions

II. Approval of Minutes

A. October 24, 2017 and February 2, 2018 Board Meetings

B. October 3, 2017 Deferred Compensation Committee Meeting

C. April 11, 2017 College Investment Committee Meeting

III. Presentations

A. Business Performance and Strategic Outlook for College Investment Plan by Fidelity Investments

B. Business Performance for Deferred Compensation Plans by Voya Financial

IV. Committee Reports and Action Items

A. Investment Committee

1. Cammack Retirement Group Watch List Recommendation on ClearBridge Mid Cap Growth IS

B. Audit and Governance Committee

1. Modification(s) to the Delaware Qualified Tuition Savings Trust

2. Recommended Waiver of In-State Resident Administration fee for ABLE

3. Recommended Approval of Plan Budgets

4. Addition of New Committee Members

V. Discussions

A. Update on ABLE Implementation by OST

B. Schedule for 2018 and Fiduciary Training Date

VI. Public Comments

VII. Adjournment

2017

AGENDA

I. Introductions

II. Executive Session

A. The Board expects to enter executive session to conduct a strategy session concerning potential litigation.

III. Action Items

A. The Board expects to discuss the status of the State’s § 529 and ABLE plans and may vote to authorize changes to the previously approved procurement processes for those plans.

IV. Public Comments

V. Adjournment

AGENDA

I. Introductions

II. Presentation Regarding Audit Results

A. BDO USA, LLP (College Investment Plan)

B. Belfint Lyons & Shuman, P.A. (Deferred Compensation Plans)

III. Action Items

A. Approval of meeting minutes from April 25, 2017

B. Approval of amendment to Ice Miller legal services agreement

C. Possible action relating to audit results

IV. Public Comments

V. Next Meeting – July 25, 2017

VI. Adjournment

AGENDA

I. Introductions

II. Approval of the 10-11-16 Meeting Minutes

III. Fiduciary Training from Deputy Attorney General

IV. New Business

V. Public Comments

VI. Adjournment

2016

AGENDA

I. Introductions

II. Fidelity and College Committee Recommendation to Plans Management Board

III. New Business

IV. Old Business

V. Public Comments

VI. Adjournment

AGENDA

I. Introductions

II. Approval of the Minutes

III. Discussion of Board Consolidation House Bill 358

IV. Report from Deputy Attorney General

V. Deferred Compensation Plans Subcommittee Report

VI. College Investment Plan Subcommittee Report

VII. ABLE Update

VIII. Review of College Investment Plan Performance

IX. New Business

X. Old Business

XI. Public Comments

XII. Adjournment

Previous (2016 – 2018) Committee Structure Archive

 



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