Title
Review of the 2026 1st Quarter by Fiduciary Consulting Group and Watch Status of Investment Lineup
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FileID
File ID: 2026-01179
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion: 1) retaining the Nationwide Fixed Fund and Nuveen Real Estate Securities Select R6 on watch for quantitative reasons; 2) placing Vanguard International Growth Adm fund on watch for quantitative reasons; and 3) replacing MFS Value R6, American Century Mid Cap Value R6, and MFS International Diversification R6, for quantitative reasons.
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Contact
Contact: Samantha Hardy, Interim Director, (916) 808-7657, shardy@cityofsacramento.org, Department of Human Resources
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Presenter
Presenter: Rasch Cousineau, Executive Director, Fiduciary Consulting Group
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Attachments
Attachments:
1-Description/Analysis
2-Fiduciary Consulting Group 2026 1st Quarter Performance Report
3-Historical Investment Compliance Summary
4-Target Date Asset Allocations
5-Comparison of Target Date Mutual Fund and Collective Investment Trust Performance
6-Nationwide 2026 1st Quarter Plan Report
7-Replacement Fund Manager Search
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Description/Analysis
IssueDetail
Issue Detail: Fiduciary Consulting Group provides retirement plan consulting services to support the City’s management and oversight of its 401(a), 457(b), and retiree Health Reimbursement Arrangement plans (Plans). Their services include advising the City on Plan governance, conducting investment and Plan performance analyses, providing recommendations, and guiding both the City and the Committee with Plan-related decisions.
Fiduciary Consulting Group will present its review of the 2026 first quarter investment performance, including recommendations regarding the City’s investment fund lineup.
A performance comparison between the Target Date Mutual Funds and the Collective Investment Trusts (CITs) is also included for the Committee’s information.
The Committee is being asked to consider replacing the MFS Value R6, American Century Mid Cap Value R6, and MFS International Diversification R6 funds for quantitative reasons. Replacement fund manager search documents are included as attachment 7.
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PolicyConsiderations
Policy Considerations: None.
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EconomicImpacts
Economic Impacts: None.
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EnviornmentalConsiderations
Environmental Considerations: The proposed action is not subject to the California Environmental Quality Act (CEQA) because it is not a “project” as defined in Section 15378 of the CEQA Guidelines.
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Sustainability
Sustainability: None.
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Commission/CommitteeAction
Commission/Committee Action: None.
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RationaleforRecommendation
Rationale for Recommendation: The City’s agreement with Fiduciary Consulting Group includes a quarterly performance report of the City’s Plans, including presentation of the report to the Committee.
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FinancialConsiderations
Financial Considerations: None.
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LocalBusinessEnterprise(LBE)
Local Business Enterprise (LBE): Not applicable.
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