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Vallejo committee requests education push, considers brokerage expansion and small participant incentives
Summary
Committee members pushed for expanded participant education (statement literacy, fee transparency) and asked staff to present Charles Schwab self-directed brokerage (SDBA) options in January. The group also agreed to consider a small raffle/incentive pilot funded from the administrative account to boost webinar attendance and beneficiary updates.
Committee members urged stronger participant education, a clear explanation of fees on statements and hands-on workshops to improve financial literacy and awareness of investment options. Members recommended a lunch-and-learn format with food to increase attendance and suggested Mission Square and staff produce a plain-language guide explaining statement line items, fee components and how investment choices map to asset classes.
The committee…
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