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San Joaquin County deferred-comp plans grow to about $634 million in second-quarter review
Summary
Nationwide reported second-quarter growth across San Joaquin County’s 457 and 401(a) plans, highlighted by asset growth of about $40 million, rising participant counts and increased online engagement; routine metrics and operational items were reviewed at the Sept. 2 Deferred Compensation Advisory Committee meeting.
Nationwide representatives reported that San Joaquin County’s deferred-compensation plans grew by about $40,000,000 during the April–June quarter and ended the quarter with combined assets near $634,000,000.
The quarterly report, presented by John Stegall of Nationwide, laid out participation and flows across both the 457 and 401(a) plans. "You can see that gainloss number was $40,000,000 and so that's what the plan grew by in that 3 month period. Your plans, both of them ended the quarter at $634,000,000," Stegall said.
The presentation summarized participant and account statistics. At quarter end the 457 plan had 7,641 participants and an average account balance of about $78,000, Stegall said. Participation behavior showed nearly 52% of plan…
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