Santa Clara Valley Transportation Authority (VTA) Board of Directors

1 DEFERRED COMPENSATION COMMITTEE MEETING Tuesday, March 24, 2026, at 1:30 p.m. Conference Room B-104 Valley Transportation Authority (VTA) 3331 North First Street San Jose, California AGENDA 1.   CALL TO ORDER/ROLL CALL 2.   ORDERS OF THE DAY 3.   PUBLIC PRESENTATIONS : This portion of the agenda is reserved for persons desiring to address the Committee on any matter not on the agenda. Speakers are   limited to 2 minutes.   The law does not permit Committee action or extended discussion on any item not on the agenda except under special circumstances. If Committee action is required, the matter can be placed on a subsequent agenda. All statements that require a response will be referred to staff for reply in writing. CONSENT AGENDA 4.   Approve   Minutes of Regular Meeting on February 24, 2026 REGULAR AGENDA 5.   Receive and File   Empower Retirement Reports (Ramirez) a.   VTA Deferred Compensation Plan Expense Account Report – February 2026 b.   Empower Plan Performance Insights 6.   Receive and File   Fourth Quarter (2025) Performance Report (Galindo) 7.   Discuss   Automatic Enrollment for Employees in Non-Rep Group (Ramirez/Morrison) 8.   Approve   Requests to attend National Association of Government Defined Contribution

2 Administrators (NAGDCA) Annual Conference (Mata) a.   September 27 – 30, 2026 (Sunday – Wednesday), in Orlando, FL 9.   Approve   Requests to attend 457U training (Mata) a.   April 29, 2026 (Wednesday), in Foster City, CA 10.   Approve   Secure 2.0 Enhancement Employee Survey (Duran/Mata) 11.   Receive   Update on Plan Activities (Duran) a.   VTA Plan Assets Monthly Report – February 2026 b.   Emergency Withdrawal and Loan Reports c.   Participant Demographic Report 12.   Review   Committee Work Plan 13.   Receive   Chairperson’s Report 14.   Consider   Requests for Future Agenda Items 15.   Announcements and Communications 16.   Adjourn NOTE COMMITTEE MEMBERS:   In order to establish whether or not a quorum exists for this meeting, members are asked to call Fanny Mata in the Human Resources Department - Deferred Compensation at (408) 321-5547 before 5:00 p.m. on the day prior to the meeting. Thank you for your cooperation. Availability of Public Records. All public records relating to an open session item on this agenda, which are not exempt from disclosure pursuant to the California Public Records Act, that are distributed to a majority of the Deferred Compensation Committee will be available for public inspection at 3331 North First Street, San Jose, CA at the same time that the public records are distributed or made available to the Deferred Compensation Committee. In accordance with the Americans with Disabilities Act (ADA) and Title VI of the Civil Rights Act of 1964, VTA will make reasonable arrangements to ensure meaningful access to its meetings for persons who have disabilities and for persons with limited English proficiency who need translation and interpretation services. Individuals requiring ADA accommodations or language assistance should notify Fanny Mata in the Human Resources Department - Deferred Compensation 72- hours prior to the meeting. Fanny Mata may be contacted at (408) 321-5547 or e-mail: Retirement.Services@vta.org.

_____________________________________________________________________ Deferred Compensation   Page 1 of 4   Tuesday, February 24, 2026 Summary Minutes DEFERRED COMPENSATION COMMITTEE MEETING February 24, 2026 SUMMARY MINUTES 1.   CALL TO ORDER at 1:31 p.m. ROLL CALL: Attendee Name   Title   Status Williams Capps   Chairperson   Present Michael Smith   Vice Chairperson   Present Ron Griffiths   Member   Absent Rippal Kanda   Member   Present Sonya Morrison   Member   Present Francisco Alolong   Member   Present Jesus Iboa   Member   Present Jessie O’Malley Solis   Member   Present There was a Quorum present. 2.   Orders of the Day There were no orders of the day. 3.   Public Presentations There were no public presentations. Agenda Item #4

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What happened The Santa Clara Valley Transportation Authority (VTA) Board of Directors met on 2026-03-24 at 01:30 PM and discussed 1 DEFERRED COMPENSATION COMMITTEE MEETING Tuesday, March 24, 2026, at 1:30 p.m. Conference Room B-104 Valley Transportation Authority (VTA) 3331 North First Street San Jose, California AGENDA 1 Key decisions Approve Minutes of Regular Meeting on February 24, 2026 REGULAR AGENDA 5. Approve Requests to attend National Association of Government Defined Contribution 2 Administrators (NAGDCA) Annual Conference (Mata) a What matters to the public PUBLIC PRESENTATIONS : This portion of the agenda is reserved for persons desiring to address the Committee on any matter not on the agenda. Availability of Public Records Topics covered - Housing and land use - Budget and finance - Transportation and infrastructure - Public safety - Health and social services Notable people / organizations - DEFERRED COMPENSATION COMMITTEE MEETING Tuesday - Conference Room B- - Valley Transportation Authority - North First Street San Jose Next steps Participants underexposed to equities (or the market more broadly) can suffer from lack of investment returns which would otherwise bolster their performance and account balance growth. Third quarter growth was broad-based, as strong consumer spending was further supported by an increase in exports, higher levels of government spending, and continued business investment in AI-related initiatives