Title
Administrative Allowance Account Budget For Calendar Years 2026 and 2027
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FileID
File ID: 2026-00704
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion approving the calendar year 2026 amended budget and 2027 budget for use of funds in the Administrative Allowance Account.
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Contact
Contact: Samantha Hardy, Interim Human Resources Director, (916) 808-7657, shardy@cityofsacramento.org, Department of Human Resources
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Presenter
Presenter: Samantha Hardy, Interim Human Resources Director, (916) 808-7657, shardy@cityofsacramento.org, Department of Human Resources
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Attachments
Attachments:
1-Description/Analysis
2-Vice Chair Levison Proposed Budget Summary Information
3-Administrative Allowance Account Transactions
4-Fee and Expense Policy Statement
5-Proposed Annual Budget with Reserve Accounts
6-Proposed Annual Budget without Reserve Accounts
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Description/Analysis
IssueDetail
Issue Detail: Vice Chair Levison has provided a written summary and proposal providing an amended calendar year 2026 budget and calendar year 2027 budget for the Committee's review and approval.
The administrative allowance account is funded by a $1.50 monthly administrative fee paid by participants in the City's 457(b) plan. The fee supports administration of the City's deferred compensation plans including, but not limited to, paying for the City's deferred compensation investment consultant, supporting future expenses for conducting request for proposals for recordkeeper or administrative services, and training for Committee members.
The fees collected are held in the City's Administrative Allowance Account with Nationwide. The fund balance is invested in the Vanguard Federal Money Market Fund (VMFXX), a low-risk investment vehicle providing stable but limited investment returns designed to preserve the account's principal balance.
The Committee is being asked to approve a budget for use of funds in the...
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