Defined Contribution Plans Committee Meeting Summary - March 18, 2026
Defined Contribution Plans Committee Meeting Summary - March 18, 2026
The Defined Contribution Plans Committee met on Wednesday, March 18, 2026, at 10:00 AM in the City Hall Complex at 915 I Street, Sacramento, CA. Vice Chair Murray Levison chaired the meeting in the absence of Chair Brad Hoekstra due to illness. The meeting lasted until 12:23 PM after a vote to extend past two hours. The committee addressed budgets, awards, plan reports, survey results, conference attendance, and officer elections.
Consent Calendar
- Approval of Meeting Minutes (File ID: 2026-00340): Approved minutes from December 10, 2025, and special meeting minutes of January 14, 2026. Motion passed 7-0 (Members absent: John Colville, King Tunson).
Public Comments & Testimony
- No public comments were made on any agenda item or on matters not on the agenda.
Discussion Items
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2. Administrative Allowance Account Budget for CY 2026 and 2027: Vice Chair Levison presented an amended 2026 budget and proposed 2027 budget, accounting for lower investment consultant fees ($50,000 vs. budgeted $60,000) and no need for RFP savings. The budget also corrected prior errors and showed an unrestricted fund balance of about $118,000. The committee discussed potential uses for excess funds, such as temporarily suspending the $1.50 monthly participant fee. A motion to adopt the budgets passed 7-0.
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3. 2026 NAGDCA Art Caple President’s Award: John from Nationwide presented a draft award submission highlighting fee reductions and improved participant outcomes over 10 years. The committee directed that efforts focus on the Art Caple Award (due in June) rather than the general April award. Vice Chair Levison volunteered as the point person. Item was received and discussed; no vote required.
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4. Review Nationwide’s 2025 4th Quarter Plan Report: John presented the quarterly report covering plan assets ($889 million as of Dec 31, 2025), participation, distributions, loans, and engagement metrics. Key concerns included net cash outflows due to rollovers ($7.2M of $12M in distributions) and participants' high concentration in large-cap funds. The committee discussed strategies to retain participants, including tailored marketing campaigns and financial education. Item was received, commented on, and direction provided.
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5. Nationwide 2023 and 2024 Participant Survey Results: John reviewed survey results showing 76% of respondents were extremely or very satisfied in both years. Only 8% cited low fees as a reason for satisfaction, leading to discussion about participant awareness. The committee requested a sample survey for the next meeting and considered adding questions to promote plan features. Item was received, commented on, and direction provided.
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7. 2026 NAGDCA Conference Attendee Selection: The conference is Sept 27-30 in Orlando, FL. Budgeted $12,500 (approx. $2,400 per person). Members Gardella, Khang, and Levison expressed interest; two spots reserved for King Tunson and Matthew Anderson. Motion to allow up to five attendees passed 7-0.
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6. Selection of Chair and Vice Chair for 2026: Due to term limits in city code (no more than two consecutive years in either role), Chair Hoekstra and Vice Chair Levison were ineligible for re-election. After nominations, Patrick Zalasky was elected Chair (moved by Levison, seconded by Hoekstra) and Chee Khang was elected Vice Chair (moved by Levison, seconded by Hoekstra). Both motions passed 7-0. The new officers will preside starting next meeting.
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Vote to Extend Meeting: A motion to extend the meeting past two hours passed 7-0 to allow completion of the agenda.
Key Outcomes
- Approved consent calendar (meeting minutes) 7-0.
- Approved CY 2026 amended and CY 2027 administrative allowance account budgets 7-0.
- Directed staff to focus on Art Caple Award submission and appointed a point person.
- Received and discussed Nationwide’s Q4 2025 plan report and 2023-2024 participant survey results; provided direction on future surveys and participant retention efforts.
- Approved selection of up to five attendees for the 2026 NAGDCA conference (three confirmed, two reserved) with $12,500 budget 7-0.
- Elected Patrick Zalasky as Chair and Chee Khang as Vice Chair for calendar year 2026 7-0.
- Extended meeting past two hours 7-0.
- Chair Hoekstra announced this will be his last year on the committee; the city’s proposal to reconfigure the committee is on hold pending a new HR director.
Meeting Transcript
Good morning and welcome to the March 18th, 2006 meeting of the good defined contribution plans committee. The meeting is now called to order. Will the clerk please call the roll? Thank you, Chair. Member Rogani? Here. Alternate member Harland. Absence. Member Colville is absent. Alternate member Zelaski? Here. Member Kang. Here. Member Tunsen is absent. Alternate member Knox. Here. Member Gardella. Here. Alternate Member Anderson is absent. Member Hochstra? Here. Alternate Member Tran is absent. And Vice Chair Levison? Here. Alternate member Contreras is absent. Chair, we have quorum. Okay, just so the committee knows. Um Chair Hookstra is not feeling well today. He's asked me to chair the meeting. And I have agreed. Um like to remind the members of the public that if you'd like to speak on an agenda item, please turn in a speaker slip before the item begins. After the item is called, we will no longer expect uh accept speaker slips. You will have two minutes to speak when you're called on. We'll now proceed with today's agenda. You're gonna lead us. Please rise if you are able for the opening acknowledgments in order in honor of Sacramento's indigenous people and tribal lands. So the original people of this land, the Nissanon people, the Southern Maidu, Valley and Plains Miwok, Patwin Winton peoples, and the people of the Wilton Rancheria, Sacramento's only federally recognized tribe. May we acknowledge and honor the native people who came before us and still walk beside us today on these ancestral lands by choosing to gather together today in the active practice of acknowledgement and appreciation for Sacramento's indigenous peoples' history, contributions, and lives. Thank you. Please remain standing for the Pledge of Allegiance. I pledge allegiance to the flag of the United States of America and to the Republic for which it stands. One nation under God, indivisible with liberty and justice for all. Okay, we are going to start with the consent calendar. Item one, and I will give the committee a heads up that we change the order of some of the items today. So we'll start with item one. We will then move to three, four, and five, all nationwide. Then we will go to item two, the budget. Once the budget's established, we'll select who's gonna go to the Nagda conference item seven, and we'll end with item six for the chair and vice chair for going forward. So let's start with item one, the minutes. Um I will say I um for our December meeting when there was a lot of confusion about what the motion was for the um recommendation on hold status and and whatnot for our funds.
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