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Mission Square reports plan growth, flags beneficiary gaps and new engagement tools
Summary
Mission Square told the Vallejo Deferred Compensation Committee the plan’s assets rose year-over-year to roughly $70 million and reported a net cash inflow for Q3, while warning that only about two-thirds of 457 plan participants have beneficiary designations on file.
Mission Square told the City of Vallejo Deferred Compensation Committee that the retirement program showed net growth in the third quarter and that vendor and committee actions should focus on participant engagement and beneficiary-designation completeness.
Mission Square representatives presented Q3 plan metrics and tools. Presenter Luther Hermano said the plan balance rose from about $60 million at the end of 2024 to roughly $70 million by the end of the third quarter, a year-over-year increase that the vendor credited to a mix of fresh contributions and positive market performance. Hermano said net cash flow for the quarter was approximately $676,000.
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