Committee Duties

The Deferred Compensation Advisory Committee comprises seven members serving four year terms.  The committee has the authority to make decisions on behalf of the City as to the investment policy, the choice and nature of investments to be available under the Plan, and enter into agreements on behalf of the City for investment advice under the Plan where the fees to be paid under such an agreement are to be paid by participants of the Plan or where there is no amount to be paid by the City under the agreement. The Advisory Committee shall have the authority to review and advise the City Manager on annual budgets and proposed changes to the Plan. However, that authority must be exercised within the limitations imposed by the plan and within the requirements of the applicable fiduciary standards.

The City Manager is responsible for the operation of the Plan determines all the questions arising out of the administration, interpretation, and application of the Plan and 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 selected by the Advisory Committee.

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.  View Current Roster.

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
• Investment Policy
• 457 Plan Document and Municipal Code Ch 3.48
• PTC Plan Document and Municipal Code Ch 3.50

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.

Public Comment: Beginning February 6, 2024, the City of San Jose will limit verbal public comments to in person only for all meetings of City legislative bodies.

2024 Meetings

2023 Meetings

2022 Meetings

2021 Meetings

2020 Meetings

2019 Meetings

2018 Meetings

2017 Meetings

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.