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St. Mary's County 457(b) plan assets rise to about $25.4 million; committee hears target-date fund reviews
Summary
Committee heard a Voya first-quarter plan summary showing higher beginning balance and contributions, a performance review highlighting target-date fund strength, and an American Funds presentation on its glide path and recent portfolio changes.
The St. Mary's County 457(b) governance committee heard presentations Thursday on the plan's first-quarter 2025 activity and the performance of its target-date funds, with plan administrators reporting higher balances and investment managers explaining drivers of recent returns.
The update began with Sarla Kata of Voya Retirement Services, who told the committee the plan opened the quarter with a beginning balance of $23,700,000 and received roughly $436,000 in payroll contributions in Q1 2025; committee materials show the plan balance was about $25,400,000 as of the day before the meeting. Kata said there were 11 new accounts opened during the quarter and 10 participants closed qualifying accounts, leaving 446 total participants (active and terminated). She reported 21 distributions in Q1 versus six in the prior-year period and noted 132 terminated…
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