Date:

Friday, 01/20/2023

Start Time:

09:00 AM

Place:

Department of Human Resources Development, 14th Floor Merit Appeals Board Conference Room, 235 S. Beretania Street, State Office Tower, Honolulu, Hawaii 96813

Agenda

January 13,2023

 

STATE OF HAWAII

DEFERRED COMPENSATION PLAN

BOARD OF TRUSTEES

 

NOTICE OF PUBLIC MEETING

DATE:      January 20, 2023

TIME:      9:00 a.m.

PLACE:     Department of Human Resources Development

           14^th Floor Merit Appeals Board Conference Room

235 S. Beretania Street, State Office Tower

Honolulu, Hawaii 96813    

 

AGENDA

 

BOARD MEMBERS WILL PARTICIPATE IN-PERSON AND VIRTUAL.

PUBLIC PARTICIPATION IS AVAILABLE VIA VIDEO/TELECONFERENCE.

 

1.      Welcome and Introduction of Incoming Board Member(s)

2.      Public Testimony Period

3.      Approval of Minutes No. 446 for the October 13, 2022, meeting  

4.      Plan Administrator’s Report, including but not limited to:

a.      Plan Highlights for the Third Quarter 2022

b.      Post Virtual Benefits Fair Updates

5.      Discussion and Consideration on the Renewal of the Contract Agreement with Empower, formerly Prudential Retirement, for an Additional 2-Year Period upon the Expiration date of June 30, 2023, and Potential Action Thereon, including but not limited to

a.  Review of the Empower Performance Scorecard

6.      Performance Evaluation Performance Report for the Third Quarter 2022 by Segal Marco Advisors

7.      Segal Marco Advisors Investment Fund Updates/Announcements and Potential Action Thereon, including but not limited to:

a.  Investment Management Update on the Wellington Management Research Value Fund

b.  Investment Management Update on the American Funds AMCAP

8.      Presentation of the Annual Report for the PTS Deferred Compensation Retirement Plan for Part-Time, Temporary, and Seasonal/Casual Employees (PTS Plan) for Plan Year 2021-2022 by LSW

9.      Discussion on LSW’s PTS Plan Rate Crediting Memo for 2022 Second and Third Quarter

10.     PTS Deferred Compensation Retirement Plan for Part-time, Temporary and Seasonal/Casual Employees (PTS Plan)

a.      Approval of Report on Funds Not Deposited in the State/County Treasuries for the Period Ending September 30, 2022

b.      Quarterly Management Report for Period Ending September 30, 2022

c.      Notification of New Interest Rate for the PTS Plan, Effective October 1, 2022

d.      Notification of New Interest Rate for the PTS Plan, Effective January 1, 2023

11.     Other Business/Announcements 

a.      Discussion on the 2023 Employee’s Benefit Fair 

b.      Discussion on Travel Planning for the Trustees

 

 

 

 

Due to social distancing protocols and the limited capacity of the conference room, members of the public who wish to attend the meeting may join the virtual Microsoft Teams meeting and go to either the meeting link at: 

https://teams.microsoft.com/l/meetup-join/19%3ameeting_NWMxZmNhNjYtMmZiZi00ZDA5LWFmZDMtNDk3YjRlMmM5Y2E3%40thread.v2/0?context=%7b%22Tid%22%3a%229145c560-96d6-47b1-b901-93342fa25334%22%2c%22Oid%22%3a%2287358049-98a5-4a29-8d0e-14813ea29c3e%22%7d or the dial-in audio conferencing line at: +1 773-917-7692, 157 515 440# . Interested persons may testify during public testimony periods and are requested to limit the testimony to 3 minutes. 

Interested persons may view the Board packet for this meeting at the Empower Honolulu office at 1100 Alakea Street, Suite 1550, Honolulu, Hawaii 96813 or on the Board's website at https://islandsavings.preparewithpru.com/board-of-trustees.html. 

If you need an auxiliary aid/service or other accommodation due to a disability, contact LiAnn Tokuda at 808-587-1075 or liann.j.h.tokuda@hawaii.gov as soon as possible, preferably 3 business days in advance of the meeting. If a response is received less than 3 business days before the meeting, we will try to obtain the auxiliary aid/service or accommodation, but we cannot guarantee the request will be fulfilled.