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Deferred Compensation Advisory Committee

Committee Duties

The Deferred Compensation Advisory Committee comprises seven members serving four year terms. The committee administers the Deferred Compensation Plan, the trust account and is responsible for the operation of the plan in accordance with the terms of the plan. The committee is required to determine all questions arising out of the administration, interpretation and application of the plan and the trust including evaluating and selecting investment options.

The committee has the authority to enter into agreements on behalf of the City for the administration of the plan, for custodial agreements for funds, and for investments under the plan. The committee has broad authority in the administration of the City’s deferred compensation plans. However, that authority must be exercised within the limitations imposed by the plan and within the requirements of the applicable fiduciary standards.

Member Qualifications & Information

Each member must be a participant of the Deferred Compensation Plan for at least one year prior to selection or appointment and remain a participant throughout his or her term of office. There is no compensation for the members of the Deferred Compensation Advisory Committee. However, from time to time, committee members may be reimbursed for some expenses incurred on City business.

Political Reform Act

The Conflict of Interest Section of the Political Reform Act applies to the Deferred Compensation Advisory Committee. Committee members are required to file a Statement of Economic Interests (Form 700).

Appointment

Two members are appointed by the City Manager, one member with experience in financial or benefits administration and one member-at-large. Five members are appointed by the City Council. They are recommended for appointment by the employees: one member recommended by the “Management Employees”, one by the Police Officers’ Association, one by Firefighters Local 230, one by the employee organizations affiliated with American Federation of State, County, and Municipal Employees, AFSCME Local 101 (Municipal Employees Federation and Confidential Employees), and one by the trades organizations (Association of Building, Mechanical and Electrical Inspectors, ABMEI, International Union of Operating Engineers, OE 3, and International Brotherhood of Electrical Workers Local 33, IBEW). 

Attendance

Committee members are expected to attend all committee meetings. Members who have unexcused absences from any two consecutive regular meetings, or 25% of the meetings in a calendar year, are deemed to have resigned from the committee. 

Governance

Rules of Order

Municipal Code Ch 3.48

Municipal Code Ch 3.50

Investment Policy

Meetings

Regular meetings of the Deferred Compensation Advisory Committee are held quarterly during the calendar year (March, June, September, and December) without official notice at 9:00 a.m. on the third Monday of the month, unless the meeting is publicly posted to begin at a different time. If the scheduled time for a regular meeting should fall on a City holiday, the regular meeting shall take place on the next succeeding business day; provided, that the committee may, at a preceding regular meeting, specify some other time and date. Meetings are held at City Hall on 200 East Santa Clara Street. If you would like audio for any of the meetings below, please email hrbenefits@sanjoseca.gov

2020 Meetings

AGENDA TIME LOCATION MINUTES
March 16, 2020 9:00 a.m. City Hall Tower, Room T-1446  
June 15, 2020 9:00 a.m. City Hall Tower, Room T-1572  
September 21, 2020 9:00 a.m. City Hall Wing, Committee Room 120
December 14, 2020 9:00 a.m. TBD

2019 Meetings

Agenda Time Location Minutes
March 18, 2019  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
June 17, 2019  9:00 a.m.  City Hall Wing, Employee Relations  FINAL
September 16, 2019  9:00 a.m.  City Hall Wing, Committee Room 120  DRAFT
December 9, 2019  9:00 a.m.  City Hall Wing, Committee Room 120  

2018 Meetings

 Agenda  Time  Location  Minutes
March 19, 2018  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
June 18, 2018  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
September 17, 2018  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
December 10, 2018  9:00 a.m.  City Hall, Room T-1654  FINAL

2017 Meetings

  AGENDA  TIME  LOCATION   MINUTES
 March 20, 2017  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
June 19, 2017  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
September 18, 2017  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL
 December 11, 2017  9:00 a.m.  City Hall Wing, Committee Room 120  FINAL

Contact Information

For information about the Deferred Compensation Advisory Committee or to request audio of any meetings, please email contact Human Resources at 408-535-1285 or hrbenefits@sanjoseca.gov.