Title
Replace Underperforming 457 Plan Fund.
Body
Recommended Action: Approve the 457 Fund Change
Remove the American Funds American Hi Inc Tr R4 (RITEX) fund from the 457 fund line up. Replace with Lord Abbett High Yield A (LHYAX)
Analysis:
RITEX has been underperforming. The 457 Board Members voted to remove this fund and replace with LHYAX
Alternatives:
Financial Considerations:
Legal Considerations: The Deferred Compensation Committee may recommend a change to the County's fund, but the Board of County Commissioners is the body that is able to make any such changes. This fund change is authorized pursuant to the County's Statement of Investment Policies and Guidelines, as set by the Board of County Commissioners in Resolution No. 100-08. Approval of the change requires a simple majority vote.
Policy Considerations: