Deferred Compensation Management Council Meeting

March 26, 2026

The meeting will be held at 10:30 a.m. in Room 301 of the Hall of Records, 2281 Tulare Street, Fresno, CA 93721

Click here at 2:00 p.m. on Thursday, March 26, 2026 to listen to the meeting live.

 

• Meeting Agenda - March 26, 2026

• Item 1 - Call to Order.

• Item 2 - Public Comment.

• Item 3 - Approve the March 26, 2026 Agenda.

• Item 4 - Elect the 2026 Deferred Compensation Management Council Chair and Vice Chair.

• Item 5 - Approve the Action Summary Minutes from the December 11, 2025 meeting.

• Item 6 - Receive and File the 457(b) Deferred Compensation Plan participation report, as of February 15, 2026, prepared by County staff.

• Item 7 - Receive and File the Fiscal Year 2025-26 Second Quarter Budget Report for the 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan, prepared by County staff.

• Item 8 - Approve Actions related to the Fiscal Year 2026-27 Budget of the 457(b) Deferred Compensation Plan and the 401(a) Defined Contribution Plan.

  • a. Approve the FY 2026-27 total administrative fee of 0.145%, which is comprised of 0.08% for record-keeping fees, pursuant to Agreement No. 24-670, and 0.065% for County administrative expenses.

  • b. Approve the FY 2026-27 budget, either as submitted or with amendments.

  • c. Approve Member Kendig’s attendance at the 2026 Defined Contribution Institute Symposium held September 15-16 in Half Moon Bay, CA.

  • d. Select up to two (2) members of the Deferred Compensation Management Council to join County staff (three (3) total attendees) in attending the 2026 National Association of Governmental Defined Contribution Administrators conference held September 27-30 in Orlando, FL.

• Item 9 - Receive and File Reports prepared by Northwest Capital Management and Approve Actions related to the 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan Investments.

  • a. Receive and File the 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan Investment Reviews as of December 31, 2025, Real Estate Investment Manager Search, Stable Value Fund Overview and Market Landscape Memo, and 2025 Share Class Review.

  • b. Approve keeping T. Rowe Price Mid-Cap Growth (RPTIX) on the watch list.

  • c. Approve keeping T. Rowe Price Overseas Stock I (TROIX) on the watch list.

  • d. Approve adding the Fresno County Stable Value fund to the watch list.

  • e. Approve removing Victory Core Plus Intermediate Bond R6 (URIBX) from the watch list.

  • f. Approve removing Fidelity Advisor® Real Estate Income I (FRIRX) as an Investment Alternative.

  • g. Approve adding Cohen & Steers Realty Shares Fund Class Z (CSJZX) as an Investment Alternative.

  • h. Approve mapping all assets from Fidelity Advisor® Real Estate Income I (FRIRX) to the Cohen & Steers Realty Shares Fund Class Z (CSJZX).

  • i. Approve replacing Columbia Dividend Income Inst 3 (CDDYX) with Columbia Dividend Income Inst 2 (CDDRX), an eligible share class alternative.

  • j. Approve replacing JPMorgan Large Cap Growth R6 (JLGMX) with JPMCB Large Cap Growth Fund CF-2 (20261K503), an eligible CIT alternative.

  • k. Approve replacing T. Rowe Price Mid-Cap Growth I (RPTIX) with T. Rowe Price Mid-Cap Growth Inv (RPMGX), an eligible share class alternative.

  • l. Approve replacing T. Rowe Price Overseas Stock Fund I Class (TROIX) with T. Rowe Price Overseas Stock Inv (TROSX), an eligible share class alternative.

  • m. Direct Northwest Capital Management to formally request exit provision projections for the Fresno County Stable Value fund.

  • n. Direct Northwest Capital Management to conduct a formal manager search to find a potential replacement for the Fresno County Stable Value fund.

• Item 10 - Receive and File the 457(b) Deferred Compensation Plan and 401(a) Defined Contribution Plan Performance Reports as of December 31, 2025, prepared by Nationwide Retirement Solutions.