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Minutes Weld County 401 (k) Savings and 457
Deferred Compensation Plan
May 1 , 2025 Investment Committee Meeting
Meeting Attendees
Weld County Alera Group
Cheryl Pattelli Brad Shaps
Rusty Williams Bob Janson
Brigitte Grimm Rebecca Szewczyk
Jill Scott
Allison Palmer
Daniel Lacomis
Approval of Meeting Minutes
The Committee approved the minutes from the previous meeting.
Investment Review
Alera Investment Advisors prepared a Monitor Report for the quarter ending 3/31/25.
As of 3/31/25 the 401(k) Plan and 457 Plan had assets of $18,762,350 and
$11,613,968, respectively. There are five funds on the Watch List.
Bob reviewed the criteria used to monitor the investments. Brad asked the
Committee if they are comfortable with the current criteria. The committee is
comfortable continuing to use the criteria.
The American Century Ultra fund is on the watch list for one quarter. it has failed the
1-year return, 3-year return and Sharpe Ratio criteria for one quarter. Alera is not
recommending a change at this time.
The Dodge & Cox International Stock fund is on the watch list for one quarter due to
performance factors. It has failed the 1-year return criterion for nine quarters, the 3-
year return criterion for one quarter, the 5-year return criterion for five quarters and
the Sharpe Ratio criterion for one quarter. Given it is improving on the 1-year return
and on the watch list for one quarter, Alera is not recommending a change at this
time.
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The Principal Core Plus Bond fund is on the watch list for one quarter due to
performance factors. It has failed the 1-year return criterion for two quarters, the 3-
year return criterion for two quarters, the 5-year return criterion for one quarter and
the Sharpe Ratio criterion for one quarter. Alera is not recommending a change at
this time.
The Principal MidCap Growth fund is on the watch list for three quarters due to
performance factors. It has failed the 1-year return criterion for five quarters, the 3-
year return criterion for three quarters, the 5-year return criterion for four quarters
and the Sharpe Ratio criterion for three quarters. After discussion, Jill made a motion
to replace the Principal MidCap Growth fund with the Federated Hermes MDT Mid
Cap Growth fund. Cheryl seconded the motion and it passed unanimously.
The Principal U.S. Property fund is on the watch list for four quarters due to
performance factors. It has failed the 1-year return criterion for eight quarters, the 3-
year return criterion for one quarter, the 5-year return criterion for six quarters and
the Sharpe Ratio criterion for five quarters. After discussion, Jill made a motion to
replace the Principal U.S. Property fund with the Cohen & Steers Real Estate
Securities fund. Cheryl seconded the motion and it passed unanimously.
Bob reviewed the remaining funds in the report.
Bob reviewed a Target Date Fund Analysis prepared by Alera. It compared the
American Funds Target Date Retirement, Fidelity Freedom Index, Principal Lifetime
and T. Rowe Price Retirement fund suites. Sections of the report reviewed included:
• Equity glide path comparison
• Fee summary
• 3-year risk/return comparison
• 10-year risk/return comparison
The Committee agreed that they are comfortable continuing to utilize the American
Fund Target Date funds.
Employee Education
Rebecca highlighted what Alera is doing from an education standpoint including
monthly FinWell webinars, quarterly communications, Bob's quarterly market update
webinars, and the 401(k)-landing page.
Rebecca noted that there is currently an estate planning webinar scheduled for June
17th and asked the Committee if there is a need for additional education at this time.
There is not.
Fiduciary Education
Brad reviewed a fiduciary education presentation prepared by Alera. Topics reviewed
included:
• Plan Sponsor responsibilities
• Who is a fiduciary
• ERISA fiduciary duties
• ERISA Fiduciary Bond and Errors & Omissions coverage
• 10 steps fiduciaries can take to help manage their responsibilities and risks
Next Meeting
The next meeting is scheduled for August 7th at 2pm MT.
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