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06/04/20 457(B) Governance Committee for St. Mary's County


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On June 4th, 2020, the 457(B) Governance Committee met for St. Mary's County, Maryland. This committee holds responsibility for managing the 457B Plan, which is a deferred compensation plan designed for government employees to help them save for future retirement. The committee comprises several members who play a significant role in overseeing the administration and investment management of the plan, ensuring that the plan is in compliance with the law and that it is acting in the best interests of the employees enrolled in it. During the meeting, the committee discussed several important matters related to the 457(B) Plan, including its current performance and investment options available to the participants. They also talked about the plan's compliance with state and federal regulations. The committee also reviewed the monthly financial statements of the plan and discussed any issues, potential risks, and mitigation strategies. The team received valuable input from the plan's Investment Consultant and discussed the modifications that could be made to improve the performance of the investments of the plan, including changing the asset allocation strategy or shifting certain investments to different funds. Another crucial topic of discussion was the effective communication of the plan's benefits and features to plan participants, such as their options for loans, investment choices, and retirement readiness. The committee acknowledged that employee education plays a vital role in the success of the plan. Overall, the 457(B) Governance Committee meeting was productive and informative. The members have an essential task of making informed decisions that impact the retirement savings of hundreds of employees. It is a responsibility they take very seriously and, as such, they continuously evaluate and improve the plan to ensure that it meets the needs of plan participants. In conclusion, the meeting was held to review the progress of the 457(B) plan and to make any necessary adjustments to improve its performance. The committee's actions are vital to the success of the plan, and the meeting was an important step in ensuring that the benefits provided to the employees are maximized to the fullest extent. https://inflationprotection.org/06-04-20-457b-governance-committee-for-st-marys-county/?feed_id=79920&_unique_id=6418befb89c42 #Inflation #Retirement #GoldIRA #Wealth #Investing #457Plan
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