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As the committee of the CSD Retirement Trust Board of Advisors, the CSD Retiremetn Trust
Investment Committee, as delegated by the CSD Board of Advisors, has fiduciary responsibility for
managing the CSD Retirement Trust 403(b) and 457(b) Plans (“Plans”). This document is a
summary of the Committee’s activities over the past year that supports how they fulfilled their
fiduciary responsibilities.
Investments
The CSD Retiremnt Trust Investment Committee met once a quarter in 2016 to review the
investments of the Retirement Plan. Meeting Minutes were recorded.
The CSD Retirement Trust Investment Committee instituted the following investment
changes in the plan:
o
Effective September 7, 2016 The T Rowe Price Equity Inc. Fund and the T Rowe Price
Growth Fund transferred to a lower fee share class version of the same fund. In addition
the Vanguard Prime Money market Fund was replaced by the Vanguard Federal Money
Market Fund. Balances and investment elections were mapped to the replacement
funds.
o
Effective September 29, 2016 the PIMCO Total Return Instl Fund was eliminated and the
Goldman Sachs Bond R6 Fund was added. Balances and investment elections in the
PIMCO Total Return Fund where mapped to the new Goldman Sachs Bond Fund.
The CSD Retirement Trust Investment Committee reviewed the Comdex Analysis of VALIC.
The Comdex Score is an average “financial strength” ranking (out of 100) compiled from
various rating agencies. As of December 31, 2016, VALIC’s Comdex Rating was 82.
The CSD Retirement Trust Investment Committee re-evaluated their Target Date Option. The
Vanguard Target Retirement Date Series is used as the 403(b) plan’s default investment
option.
Fiduciary Governance
The CSD Retirement Trust Investment Committee’s Retirement Plan Consultant, CBIZ
Retirement Plan Services, renewed their CEFEX Investment Advisor Certification and their
CEFEX Fiduciary Advisor Certification.
The CSD Retirement Trust Investment Committee evaluated their Consultant, CBIZ
Retirement Plan Services by documenting background information and credentials. This is
summarized in the Annual Consultant Review.
CSD Retirement Trust
Summary of Retirement Plan Investment Committee Activities
For the Calendar Year of 2016