Supplemental Retirement Board of Trustees Meetings and Governing Documents The Department of State Treasurer and the Supplemental Retirement Board of Trustees, with the State Treasurer as chair, are responsible for governing the NC 401(k) Plan, the NC 457 Plan, and the NC 403(b) Program. Supplemental Retirement Plans Site Meetings The dates for the upcoming meetings of the Board and its Committees are listed below. The meetings will convene at 9:00 a.m. (unless otherwise listed) at the Department of State Treasurer, 3200 Atlantic Avenue, Raleigh, North Carolina 27604, in the Dogwood Conference Room. Board Schedule and Activities Board of Trustees 2022 Meeting Schedule Calendar of Board of Trustees 2021 Meeting Activities Meeting Archives Supplemental Retirement Board of Trustees Meetings Meeting Date/Minutes Meeting Materials February 24, 2022 Meeting Recording Minutes Agenda Draft Meeting Minutes - Dec. 2, 2021 Memo to SRP Board re Administrative Fee Amount 4th Quarter Prudential Report BNY Mellon Presentation Galliard Presentation Callan Executive Summary 4th Quarter 2021 Compliance Memo 4th Quarter Memo to Board re Foreign Tax Services Vendor Recommendation SRP Org Chart Board of Trustees Information Board of Trustees 2022 Meeting Activities Board of Trustees 2022 Meeting Dates Vendor Performance Guarantees Report 4th Quarter Compliance at a Glance 4th Quarter Communication Highlights May 26, 2022 Please join the meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/201685829You can also dial in using your phone. United States: +1 (312) 757-3121Access Code: 201-685-829 Agenda Draft Meeting Minutes - Feb. 24, 2022 Audit Subcommittee Draft Meeting Minutes - Feb. 14, 2022 2022-2023 Budget Proposal NC 403(b) Fee Discontinuance Memo to Board re NC 403(b) Program Amendment Memo to Board re Loan Policy Amendment 1st Quarter 2022 - Empower Report NC SRP Fee Review Report Empower Extension 2022 - Executive Summary Galliard Update Callan 1st Quarter 2022 Report Compliance Memo - 1st Quarter 2022 Org Chart BOT Information BOT Meeting Activities 2022 BOT Meeting Dates Compliance at a glance - 1st Quarter 2022 Vendor Performance Guarantees - 1st Quarter 2022 1st Quarter 2022 Communication Highlights August 25, 2022 Please join the meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/932085245You can also dial in using your phone. United States: +1 (646) 749-3122Access Code: 932-085-245 December 1, 2022 Please join the meeting from your computer, tablet or smartphone.https://global.gotomeeting.com/join/381905525You can also dial in using your phone. United States: +1 (872) 240-3212Access Code: 381-905-525 Audit Subcommittee Meetings/Minutes Meeting Materials February 14, 2022 Meeting Recording Minutes Agenda North Carolina Supplemental Retirement Plans Audit Kickoff July 19, 2022 - 11:00 AM - 12:00 PM Please join the meeting from your computer, tablet or smartphone.https://meet.goto.com/379145173 You can also dial in using your phone. United States: +1 (872) 240-3311 Access Code: 379-145-173 Meet the Board The Supplemental Plan Board is composed of nine members, including six members appointed by the Governor (one must be a State employee), one member appointed by the General Assembly upon recommendation of the Speaker of the House of Representatives, and one member appointed by the General Assembly upon recommendation of the President Pro Tempore. The State Treasurer serves as Board chair. The Audit Subcommittee oversees the audit process for the NC 401(k) and NC 457 plans; discusses audit-related issues with the external auditor; accepts the financial statements of the NC 401(k) and NC 457 plans; and reports to the Board following the subcommittee’s meetings. The subcommittee also ensures Departmental and vendor accountability on internal controls, including following up on any management letter comments from the previous year. The subcommittee has two regularly scheduled meetings to hear the auditor’s report and accept the financial statements. State Treasurer Dale R. Folwell, CPA, Chair Appt. By/Rep.: Ex Officio Expiration Date: Indefinite Melinda Baran Appointed by President Pro Tempore Appointed: July 2, 2012 Expiration Date: June 30, 2019 Pursuant to NC Law, a board member continues to serve past the expiration of the member’s term until a replacement is appointed. D. Steven Beam Appointed by Governor Appointed: May 25, 2018 Expiration Date: June 30, 2023 Wyndon Hibler Appointed by Governor Date of Appointment: March 29, 2021 Expiration Date: June 30, 2023 Lorraine Johnson Appointed by Governor Date of Appointment: May 25, 2018 Expiration Date: June 30, 2023 Michael Lewis Appointed by Speaker of the House Date of Appointment: July 7, 2014 Expiration Date: June 30, 2022 James Lumsden Appointed by Governor Appointed: August 1, 2018 Expiration Date: June 30, 2024 Nels C. Roseland Appointed by Governor Date of Appointment: January 4, 2019 Expiration Date: June 30, 2024 Chevella L. Thomas Appointed by Governor Date Appointed: November 20, 2018 Expiration Date: June 30, 2024 Email the Supplemental Board: supplementalboard@nctreasurer.com Plan Documents NC 401(k) NC 457 NC 403(b) NC 403(b) Adoption Agreement NC 403(b) Final Amendment Policies for Partipants and Employers Policy Statement Policy on Complaints and Requests Policy on Plan Administration Policy on Employer Participation Policy on Employer Contributions Policy on Participation and Beneficiaries Policy on Participant Contributions Policy on Investments and Accounts Policy on Distributions Policy on Loans Policy on Domestic Relations Orders Governance Policies Board of Trustees Charter Investment Policy Statement for the NC 401(k) and NC 457 Plans Investment Policy Statement for the 403(b) Program Policy and Procedures for Investment Transactions and Investment Manager Selection Proxy Voting Guidelines Vendor Selection Policy Placement Agent, Political Contribution and Connection Disclosure Policy Reports and Disclosures North Carolina Supplemental Retirement Plans Fee Statement Benchmarking Report for the NC 401(k) and NC 457 Plans Audit of the Financial Statements of the NC 401(k) and NC 457 Plans Investment Manager and Placement Agent Disclosure Forms Board Resolutions Resolution Supporting Legislative Change to Permit Administrative Fee Flexibility (Dec. 3, 2020) Resolution Adopting Relief Provisions of the CARES Act (April 20, 2020) Resolution Opposing Legislative Change to Restrict the Board's Ability to Discharge Its Fiduciary Duty Regarding SRPs Budget (Aug. 26, 2021) Administrative Fee Rule for the NC 401(k) and NC 457 Plans
Supplemental Retirement Board of Trustees Meetings and Governing Documents The Department of State Treasurer and the Supplemental Retirement Board of Trustees, with the State Treasurer as chair, are responsible for governing the NC 401(k) Plan, the NC 457 Plan, and the NC 403(b) Program. Supplemental Retirement Plans Site Meetings The dates for the upcoming meetings of the Board and its Committees are listed below. The meetings will convene at 9:00 a.m. (unless otherwise listed) at the Department of State Treasurer, 3200 Atlantic Avenue, Raleigh, North Carolina 27604, in the Dogwood Conference Room. Board Schedule and Activities Board of Trustees 2022 Meeting Schedule Calendar of Board of Trustees 2021 Meeting Activities Meeting Archives Supplemental Retirement Board of Trustees Meetings Meeting Date/Minutes Meeting Materials February 24, 2022 Meeting Recording Minutes Agenda Draft Meeting Minutes - Dec. 2, 2021 Memo to SRP Board re Administrative Fee Amount 4th Quarter Prudential Report BNY Mellon Presentation Galliard Presentation Callan Executive Summary 4th Quarter 2021 Compliance Memo 4th Quarter Memo to Board re Foreign Tax Services Vendor Recommendation SRP Org Chart Board of Trustees Information Board of Trustees 2022 Meeting Activities Board of Trustees 2022 Meeting Dates Vendor Performance Guarantees Report 4th Quarter Compliance at a Glance 4th Quarter Communication Highlights May 26, 2022 Please join the meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/201685829You can also dial in using your phone. United States: +1 (312) 757-3121Access Code: 201-685-829 Agenda Draft Meeting Minutes - Feb. 24, 2022 Audit Subcommittee Draft Meeting Minutes - Feb. 14, 2022 2022-2023 Budget Proposal NC 403(b) Fee Discontinuance Memo to Board re NC 403(b) Program Amendment Memo to Board re Loan Policy Amendment 1st Quarter 2022 - Empower Report NC SRP Fee Review Report Empower Extension 2022 - Executive Summary Galliard Update Callan 1st Quarter 2022 Report Compliance Memo - 1st Quarter 2022 Org Chart BOT Information BOT Meeting Activities 2022 BOT Meeting Dates Compliance at a glance - 1st Quarter 2022 Vendor Performance Guarantees - 1st Quarter 2022 1st Quarter 2022 Communication Highlights August 25, 2022 Please join the meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/932085245You can also dial in using your phone. United States: +1 (646) 749-3122Access Code: 932-085-245 December 1, 2022 Please join the meeting from your computer, tablet or smartphone.https://global.gotomeeting.com/join/381905525You can also dial in using your phone. United States: +1 (872) 240-3212Access Code: 381-905-525 Audit Subcommittee Meetings/Minutes Meeting Materials February 14, 2022 Meeting Recording Minutes Agenda North Carolina Supplemental Retirement Plans Audit Kickoff July 19, 2022 - 11:00 AM - 12:00 PM Please join the meeting from your computer, tablet or smartphone.https://meet.goto.com/379145173 You can also dial in using your phone. United States: +1 (872) 240-3311 Access Code: 379-145-173 Meet the Board The Supplemental Plan Board is composed of nine members, including six members appointed by the Governor (one must be a State employee), one member appointed by the General Assembly upon recommendation of the Speaker of the House of Representatives, and one member appointed by the General Assembly upon recommendation of the President Pro Tempore. The State Treasurer serves as Board chair. The Audit Subcommittee oversees the audit process for the NC 401(k) and NC 457 plans; discusses audit-related issues with the external auditor; accepts the financial statements of the NC 401(k) and NC 457 plans; and reports to the Board following the subcommittee’s meetings. The subcommittee also ensures Departmental and vendor accountability on internal controls, including following up on any management letter comments from the previous year. The subcommittee has two regularly scheduled meetings to hear the auditor’s report and accept the financial statements. State Treasurer Dale R. Folwell, CPA, Chair Appt. By/Rep.: Ex Officio Expiration Date: Indefinite Melinda Baran Appointed by President Pro Tempore Appointed: July 2, 2012 Expiration Date: June 30, 2019 Pursuant to NC Law, a board member continues to serve past the expiration of the member’s term until a replacement is appointed. D. Steven Beam Appointed by Governor Appointed: May 25, 2018 Expiration Date: June 30, 2023 Wyndon Hibler Appointed by Governor Date of Appointment: March 29, 2021 Expiration Date: June 30, 2023 Lorraine Johnson Appointed by Governor Date of Appointment: May 25, 2018 Expiration Date: June 30, 2023 Michael Lewis Appointed by Speaker of the House Date of Appointment: July 7, 2014 Expiration Date: June 30, 2022 James Lumsden Appointed by Governor Appointed: August 1, 2018 Expiration Date: June 30, 2024 Nels C. Roseland Appointed by Governor Date of Appointment: January 4, 2019 Expiration Date: June 30, 2024 Chevella L. Thomas Appointed by Governor Date Appointed: November 20, 2018 Expiration Date: June 30, 2024 Email the Supplemental Board: supplementalboard@nctreasurer.com Plan Documents NC 401(k) NC 457 NC 403(b) NC 403(b) Adoption Agreement NC 403(b) Final Amendment Policies for Partipants and Employers Policy Statement Policy on Complaints and Requests Policy on Plan Administration Policy on Employer Participation Policy on Employer Contributions Policy on Participation and Beneficiaries Policy on Participant Contributions Policy on Investments and Accounts Policy on Distributions Policy on Loans Policy on Domestic Relations Orders Governance Policies Board of Trustees Charter Investment Policy Statement for the NC 401(k) and NC 457 Plans Investment Policy Statement for the 403(b) Program Policy and Procedures for Investment Transactions and Investment Manager Selection Proxy Voting Guidelines Vendor Selection Policy Placement Agent, Political Contribution and Connection Disclosure Policy Reports and Disclosures North Carolina Supplemental Retirement Plans Fee Statement Benchmarking Report for the NC 401(k) and NC 457 Plans Audit of the Financial Statements of the NC 401(k) and NC 457 Plans Investment Manager and Placement Agent Disclosure Forms Board Resolutions Resolution Supporting Legislative Change to Permit Administrative Fee Flexibility (Dec. 3, 2020) Resolution Adopting Relief Provisions of the CARES Act (April 20, 2020) Resolution Opposing Legislative Change to Restrict the Board's Ability to Discharge Its Fiduciary Duty Regarding SRPs Budget (Aug. 26, 2021) Administrative Fee Rule for the NC 401(k) and NC 457 Plans
