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Minutes Weld County 401 (k) Savings and 457
Deferred Compensation Plan
November 6, 2025 Investment Committee Meeting
Meeting Attendees
Weld County Alera Group Principal
Allison Palmer Brad Shaps Drew Albers
Rusty Williams (absent) Bob Janson
Brigitte Grimm Rebecca Szewczyk
Jill Scott
Daniel Lacomis (Spencer Fane)
Investment Review
Alera Investment Advisors prepared a Monitor Report for the quarter ending 6/30/25.
As of 6/30/25 the 401(k) Plan and 457 Plan had assets of $21,820,464 and
$13,419,214, respectively. There are currently four funds on the Watch List.
Bob gave a brief market update and reviewed the Investment Performance section of
the report. He also briefly reviewed the criteria used to monitor the investments.
The American Century Ultra fund is on the watch list for three quarters due to
performance factors. It has failed the 1-year return, 3-year return and Sharpe Ratio
criteria for three quarters, while also failing the 5-year return criterion for two
quarters. Alera is not recommending a change at this time, however, they will bring
alternatives next quarter if the fund is still failing.
The American Funds US Government Securities fund is on the watch list for one
quarter due to performance factors. It has failed the 3-year return criterion for four
quarters, the 5-year return criterion for one quarter and the Sharpe Ratio criterion for
three quarters. Bob noted that this fund is still performing well on a 1-year basis, so
Alera is not recommending a change at this time.
The Principal Core Plus Bond fund is on the watch list for three quarters due to
performance factors. It has failed the 1-year return criterion for four quarters, the 3-
year return criterion for four quarters, the 5-year return criterion for three quarters
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and the Sharpe Ratio criterion for one quarter. Alera is not recommending a change
at this time, however, they will bring alternatives next quarter if the fund is still failing.
The Principal MidCap Value fund is on the watch list for one quarter due to
performance factors. It has failed the 1-year return, 3-year return, 5-year return and
Sharpe Ratio criteria for one quarter. The fund has also failed the style criterion the
past several quarters. Alera is not recommending a change at this time.
Bob reviewed the remaining funds in the report.
Fee Benchmark Review
Brad reviewed a fee benchmark report that was prepared by Alera. He noted that the
investment, recordkeeping, and advisory fees are all reasonable.
Principal Discussion
Drew noted the SECURE 2.0 Act requirement for high earners to make catch-up
contributions on a Roth basis starting in 2026. The Committee requested a
communication they can send to both 401 k and 457 participants. Alera will work with
Drew to have this to the County at the beginning of next year.
Daniel noted that they should review the plan documents and restate, if necessary, in
2026. If possible, Drew will provide a prototype plan document.
Approval of Meeting Minutes
Brigitte made a motion to approve the minutes from the previous meeting. Jill
seconded the motion, and it passed unanimously.
Employee Education
Brad asked if there was a need for education at this time. Drew noted that he will be
looking at conducting quarterly education in 2026 -two on-site sessions and two
virtual sessions.
Next Meeting
The next meeting is scheduled for February 5th at 2pm MT.
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