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Deferred compensation report: stable value yields tick up; JPMorgan and Northern Trust selected for large‑cap growth search
Summary
SFDCP reported Q4 2025 growth in participation and assets, a 9‑basis‑point increase in the stable value fund to 3.51%, manager selections (JPMorgan and Northern Trust) for large‑cap growth components with June 2026 onboarding planned, and outreach initiatives including a webinar attended by 52 people.
Steve Moy, the deferred compensation program manager, told the San Francisco Retirement Board that SFDCP closed 2025 strongly and that participation and plan assets increased in the quarter.
"The stable value rate increased 9 basis points quarter over quarter from the Q4 2025 rate of 3.42% to the current Q1 rate of 3.51%," Moy said, noting the change was driven primarily by a higher…
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