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Colleen C. Davis
State Treasurer
Plans Management Board
About the Board:
The Plans Management Board oversees the state's investment programs. Available to the public, the 529 Educational Savings Plan hosts over 22,000 individual active accounts as of July 2020. The 529 has grown over the last three years, helping residents plan for educational costs, and increasing college- and career-readiness. The 529A ABLE Savings Plan for individuals with disabilities opened in June of 2018, and holds nearly $300,000 in assets. Finally, the Board supervises the Deferred Compensation Program which offers a 457(b) and 403(b) retirement plan for state employees. Over 20,000 state employees participate in the program with enrollment increasing rapidly over the last several years.
This body was established by Del. Code Title 29 Ch. § 2722 Plans Management Board.
View upcoming meetings, minutes, and other documents on our Simbli Page.
The Board is composed of 11 members, including the State Treasurer, the Secretary of Finance, the Director of the Office of Management and Budget, the Insurance Commissioner and the Secretary of Education. Each may appoint a person to serve in their stead. Two state employees appointed by the Governor, one of whom can participate in the 403b Plan, also serve on the Board alongside four public members appointed by the Governor.
View the members of the Plans Management Board:
Donna Vieira
Chair, Plans Management Board
Alan A. Colberg
Chair, Investment Committee
Pete Kennedy
Chair, Audit & Governance Committee
Trinidad Navarro
Insurance Commissioner
Susan Bunting
Secretary of Education
Richard J. Geisenberger
Secretary of the Department of Finance
Leighann Hinkle
Member at Large, State Employee
Michael S. Jackson
Director, Office of Management and Budget
Jerry Gallagher
Joel Coppadge II
Public Member at Large
Duties of the Board:
Adopt rules and regulations for the general administration of its duties and establish subcommittees
Enter into any and all contracts, agreements, or arrangements necessary or desirable for carrying out the purposes of any of the Plans
Maintain, invest, and reinvest the funds contributed into the Plans consistent with the standard of care set forth
Approve the annual budget for each of the Plans and the collection of fees to defray all costs of the Plans
Arrange for an annual financial audit of each of the Plans, which shall be provided annually to the General Assembly
Board Committees:
These committees exist to review specific programs, projects, or topics to make recommendations to the Board. Committee members may be experts who do not serve on the full Board.
Audit and Governance Committee
The Audit and Governance Committee has the authority to review and make recommendations to the Board about all matters related to (i) Plan audits (ii) Plan amendments, (iii) Plan-related cybersecurity issues; and other audit or governance matters pertaining to the Plans.
Members: Committee Chair Pete Kennedy, State Treasurer Colleen C. Davis, Jerry Gallagher, Tim Snyder, John Macedo.
The Investment Committee has the authority to review and make recommendations to the Board regarding all matters related Plan investment options and Plan investment performance, and other investment-related matters pertaining to the Plans.
Members: Committee Chair Alan Colberg; State Treasurer Colleen C. Davis, Director of Office of Management and Budget Michael Jackson, Secretary of Finance Rick Geisenberger, Todd Roselle, David Biddle.
Related Topics: Colleen C. Davis, office of the state treasurer, plans management board, state treasurer
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Donna Vieira is executive vice president and chief marketing officer for Sallie Mae. She oversees product development, sales, marketing, government relations, and communications for the company's consumer businesses, including private student loans, retail banking, personal loans, and credit cards.
Vieira has more than 20 years of product, marketing, and management experience. Prior to joining Sallie Mae, Vieira served as chief marketing officer for consumer banking and wealth management at JPMorgan Chase, leading the development of strategic marketing and brand initiatives to grow deposit and investment balances and customer relationships. Vieira also served as chief marketing officer and product officer for Chase business banking, focusing on product and innovation development. She has also held leadership roles at Dun & Bradstreet, Merrill Lynch, and American Express.
Vieira earned a bachelor's degree from Mount Allison University and a Master of Business Administration from Pace University. A staunch supporter of athletics and causes that support individuals and families with disabilities, Vieira is an active volunteer with Special Olympics Delaware. She resides in Hockessin with her husband and two children.
Alan Colberg is a Senior Retirement Plan Specialist for DuPont Capital Management Corporation. He works under DuPont Capital's Investment Oversight Committee, a named fiduciary of the DuPont and Related Companies Defined Contribution Plan Master Trust. In this role, he is responsible for management of all aspects of Trust operation and implementation. This includes the custom investment design, investment manager selection and negotiation, compliance monitoring, client relations, and oversight of investment consultants. He also serves as DuPont Capital's Records and Information Management Champion and on the DuPont Capital Personnel and Business Risk Management Committees. Prior to joining DuPont Capital in June of 1992, he was a Senior Network Engineer with Computer Aid, Incorporated.
Alan holds a B.S. in Business, concentration in Computer Management and a B.A. in Applied Mathematics from Eastern Illinois University, and is a Certified Six Sigma Champion and Master Black Belt.
Pete is a Director at Cover & Rossiter and the head of the Audit practice. He has developed an expertise in nonprofit accounting, auditing and tax issues and is privileged to work with many of the region's leading nonprofit institutions. Pete is responsible for the firm's quality control policies and procedures and ensures that Cover & Rossiter meets or exceeds all professional standards.
With over 25 years of experience in the accounting field, in addition to his experience with nonprofits, Pete has worked in many diverse fields including manufacturing, construction, and professional and financial services. Prior to joining Cover & Rossiter, Pete worked for three years with a regional accounting firm in Philadelphia and for three years with a medical equipment manufacturer as a cost accountant (he has since recovered).
A 1985 graduate of Clarkson University, Pete holds a Bachelor's degree in accounting and currently holds active licenses in both Pennsylvania and Delaware. He is affiliated with both the Pennsylvania Institute of Certified Public Accountants and the American Institute of Certified Public Accountants.
Pete was named to the Financial Accounting Standards Board's ("FASB's") Not-For-Profit Financial Statement Project Resource Group. This is a national group of 20 individuals recognized for their not-for-profit accounting expertise that the FASB had consultations with to improve not-for-profit financial statements. This process involved trips to the FASB's Headquarters in Norwalk, CT, numerous conference calls and requests for comment, review and vetting of pre-release drafts, and culminated in the August 2016 release of the FASB's Accounting Standards Update #2016-14 – the most significant re-write of not-for-profit financial statement rules in the past 20 years.
Under Pete's direction, Cover & Rossiter regularly follows and responds to FASB exposure drafts which have the potential to impact our nonprofit clients – we are most often the only Delaware firm to do so. Pete is a Trustee of Christiana Care Health System and just completed a six-year term as a member of the Finance Committee. He is a member of the Audit and Compliance Committees of the Delaware Community Foundation, the Board of Directors of the Delaware College Scholars, the Audit and Governance Committee of the Delaware State Employee Benefit Plans Management Board, and the EastSide Charter School Citizens' Budget Oversight Committee.
Pete retired from the Navy Reserve after twenty-two years of service (six years of active duty and the last sixteen as a Reservist).
Colleen C. Davis was elected State Treasurer in November 6, 2018. She was sworn into office on January 1, 2019. Colleen has a rich history of working for the First State. She served as the Treasurer for the Delaware Physician Assistant Advocacy Group (DAPA) and as a board member on the Advisory Board of Forge Life Sciences and on the Board of Delaware Maritime Education. In conjunction with these achievements, Colleen has also served as a financial consultant to large medical institutions, as well as, small independent practices. She has created fiscal stability and improved positive patient outcomes, while saving millions of dollars in overall health care costs. Colleen believes in a strong community and wants to help the State of Delaware improve its quality of life.
Over the years, she has volunteered locally, nationally and internationally. After Nepal was struck by a 7.8 magnitude earthquake in April 2015, she went as a physician's assistant to help people affected near Kathmandu. Colleen is a proven leader in Disaster Relief, Medical-Surgical practices, Pediatric Advanced Life Support (PALS), Emergency Medicine, Neurosurgery and Advanced Cardiac Life Support (ACLS).
Trinidad Navarro was elected in 2016 as the State of Delaware's 26th Insurance Commissioner. In this role, he oversees the regulation of the Delaware insurance market and the Department's consumer protection efforts. In 2014, the Delaware Department of Insurance ranked 10th in the U.S. in total written insurance premium, and regulated companies with more than $620 billion in assets. The DOI is the largest consumer protection agency in the state. A lifelong Delawarean, he has an extensive record of public service and is committed to protecting Delaware consumers. He served over 20 years with the New Castle County Police, retiring as the Public Information Officer after being elected as New Castle County Sheriff in 2010. While a police officer, he received the department's distinguished Medal of Valor. Prior to that he worked as a licensed insurance agent.
Commissioner Navarro is a member of the National Association of Insurance Commissioners (NAIC). He also serves on the Delaware Health Care Commission, the State Employees Benefits Committee, and the Council on Health Promotion and Disease Prevention. Commissioner Navarro holds an Associate Degree in criminal justice from the Delaware Technical and Community College and a Bachelor of Arts Degree from Wilmington University. He has two daughters, Kylie and Hannah, and one son, Jordan. Commissioner Navarro currently resides in Bear, DE with his wife Melissa and youngest daughter Hannah.
Prior to joining Governor John Carney's Cabinet in January 2017, Bunting led Indian River, one of the state's largest school districts serving more than 10,000 students, for more than a decade. After teaching in Maryland for several years, she joined Indian River in 1977 as a middle school language arts teacher, later teaching gifted education. She was named Indian River's Teacher of the Year in 1985. She served as Supervisor of Elementary Instruction then Director of Instruction before being named superintendent in 2006. Delaware's 2012 Superintendent of the Year, she also was one of four finalists for the American Association of School Administrators' National Superintendent of the Year award. She has served on and led numerous state committees, including the DPAS II Advisory Committee, Vision 2015 Implementation Committee, Governor's ESSA Advisory Committee and Delaware STEM Advisory Council. She also served as president of the Delaware Chief School Officer Association.
Susan is a former adjunct faculty member at University of Delaware and Wilmington University. She earned her Bachelor of Arts in K-8 education and psychology from the American University and a master's degree in education from Salisbury State University and her educational doctorate in educational leadership from the University of Delaware.
Secretary Geisenberger was nominated by Governor John C. Carney, Jr. and confirmed by the Delaware Senate on January 18, 2017. The Delaware Secretary of Finance is the state's chief financial officer and is responsible for promoting the State's fiscal health through fair and efficient forecasting, generation, collection and accounting of state funds. He oversees the State's Division of Revenue, Division of Accounting and the State Lottery Office, as well as tax policy analysis, unclaimed property administration, and bond finance. Rick also serves on financial oversight bodies including DEFAC, the Delaware Public Employees Retirement System Board of Trustees, and the Cash Management Policy Board. Rick is the Vice Chair of the Diamond State Port Corporation, and an Executive Sponsor of GEAR. He previously served as Delaware's Chief Deputy Secretary of State and the Director of the Division of Corporations.
Before joining state government as an Economic Policy Advisor to Governor Carper, Rick held a variety of private sector positions in banking, finance, treasury services management, mergers and acquisitions, and strategic planning. He first worked with Corestates Financial, then Manufacturers Hanover Corporation and later Delmarva Power. He earned his M.G.A. degree from the University of Pennsylvania, his B.A. from Franklin & Marshall College, and completed the Wharton Executive Program in Mergers and Acquisitions.
Leighann Hinkle is currently the Deputy Director of the Statewide Benefits Office, which is responsible for the strategic planning, daily administration and financial management of all health and related benefit programs. In this role, Leighann provides benefit program compliance, fiscal oversight, and administration of the State Group Health Insurance Program. This includes a strategic commitment to ongoing employee and human resource staff education and guidance to ensure a clear and consistent understanding of the progressive and comprehensive benefit programs available program participants.
Leighann has more than 15 years of experience in benefits administration. Prior to her current position, she served as Policy Advisor in the Office of Management and Budget where she focused on Affordable Care Act compliance. Leighann started her career in the Office of State Treasurer overseeing the administration of the 457(b), 401(a), 403(b) and 529 plans.
Leighann earned a bachelor's degree from the University of Delaware and a Master of Business Administration from Wilmington University.
In January of 2017, Mike Jackson was appointed by Governor John Carney and confirmed by members of the 149th General Assembly as the Director of the Office of Management and Budget. Prior to his current position, he served four years as the Deputy Controller General for the Delaware General Assembly. Mike is a former Budget Director for the University of Delaware and previously served as the Associate Secretary, Finance and Administrative Services, for the State of Delaware Department of Education. Prior to that appointment he spent 11 years with the Office of Management and Budget, culminating in his role as Director of Budget Development, Planning and Administration.
Mike earned his Bachelor of Arts degree at Villanova University and his Master of Public Administration degree at the University of Delaware.
Jerry Gallagher has been involved with Delaware public education for the majority of his 30 years of public service. Jerry is the Finance Director for Smyrna School District where he is responsible for all fiscal operations including payroll and benefits. He also serves as President of the School Business Officials and is a board member for the Delaware Association of School Administrators. Jerry previously served as the Finance Director for the Delaware Department of Education as well as the Appoquinimink School District. He also spent six years as a Fiscal and Policy Analyst for the state Budget Office where his responsibilities included state-wide compensation and benefit issues.
Jerry is a graduate of the University of Delaware with a Bachelor of Science and Master's Degree in Economics. He has two adult children, and resides in Smyrna with his wife, Eulinda, and their two dogs.
Joel Coppadge has spent 39 years in the healthcare profession and held a number of positions during his tenure. Mr. Coppadge most recently was the Executive Vice President for 18 years at Aetna and prior to that he spent 15 years in various leadership positions for Cigna. Mr. Coppadge also served as the head of the Leadership Development Program for six years at Allstate Insurance Company. He is a current member of Canaan Baptist Church where he is also a member of the Music Ministry and Co-Chair on the Board of Trustees for the last two years. Mr. Coppadge was a Board member of the Police Athletic League of Wilmington for ten years and served as the Board President and Vice-President. He is a current member of both the Metropolitan Urban League Guild and the Board of Directors for Nexters PAC. Mr. Coppadge was the co-founder and head coach for twelve years for the Delaware Diamonds Track Club. He is a current member of The Pointe Council where he is the Vice President, LuckyQ Solutions, LLC where he is the current owner and a member of The First Tee Board. Finally, he serves as the Chief Operating Officer of Advanced Healthcare Solutions since March 2020.
Mr. Coppadge is a graduate of Delaware State University with a Bachelor of Science in Business Administration. He was a scholarship athlete and was captain of the basketball team during his senior year. Mr. Coppadge currently lives in Wilmington.