HomeMy Public PortalAbout02 February 8, 2006 Executive75679
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
EXECUTIVE COMMITTEE
(COMMISSIONERS MARION ASHLEY, BOB BUSTER, CHRIS BUYDOS, TERRY HENDERSON,
ROBIN LOWE, JEFF MILLER, JEFF STONE, JOHN TAVAGLIONE, MICHAEL WILSON, ROY WILSON)
8:00 A.M.
Wednesday, February 8, 2006
County of Riverside Administrative Center
Conference Room A
4080 Lemon Street, 3rd Floor, Riverside
In compliance with the Americans with Disabilities Act and Government Code
Section 54954.2, if you need special assistance to participate in an Executive
Committee meeting, please contact the Clerk of the Board at
(951) 787-7141. Notification of at least 48 hours prior to meeting will assist staff
in assuring that reasonable arrangements can be made to provide accessibility at
the meeting.
1. CALL TO ORDER
2. PUBLIC COMMENTS
3. APPROVAL OF MINUTES - DECEMBER 14, 2005
4. APPROVAL OF REVISED 401(A) DEFINED CONTRIBUTION QUALIFIED PLAN
LOAN GUIDELINES AND 457 DEFERRED COMPENSATION PLAN LOAN
PROGRAM AND GUIDELINES
Overview
This item is for the Committee to:
1) Approve the revised 401(a) Defined Contribution Qualified Plan Loan
Guidelines; and
2) Approve the 457 Deferred Compensation Plan Loan Program and
Guidelines.
11.36.21
RCTC Executive Committee Agenda
Wednesday, February 8, 2006
5. PROPOSED 2006 COMMITTEES MEETING SCHEDULE AND TRANSIT
POLICY COMMITTEE MEMBERSHIP
Overview
This item is for the Committee to approve the proposed 2006 Committees
meeting schedule and to review and discuss the Transit Policy Committee
membership.
6. ADJOURNMENT
The next Executive Committee meeting is scheduled to be held at 8:00 a.m.,
Wednesday, March 8, 2006, Conference Room A, County of Riverside
Administrative Center, 4080 Lemon Street, Third Floor, Riverside.
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A G E N D A I T E M 3
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M I N U T E S
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RIVERS/DE COUNTY TRANSPORTATION COMMISSION
EXECUTIVE COMMITTEE
December 14, 2005
Minutes
1. CALL TO ORDER
Chair Robin Lowe called the meeting to order at 8:34 a.m., on
Wednesday, December 14, 2005 at the Riverside County
Transportation Commission's Conference Room A, 4080 Lemon
Street, Third Floor, Riverside, California 92501.
Members Present:
Marion Ashley
Bob Buster
Chris Buydos
Terry Henderson
Robin Lowe
2. PUBLIC COMMENTS
There were no public comments.
3. APPROVAL OF MINUTES
Jeff Miller
Jeff Stone
John Tavaglione
Mike Wilson
Roy Wilson
M/S/C (Buydos/Ashley) to approve the minutes of
September 14, 2005 as submitted.
Abstain: M. Wilson
4. NEW YORK RATING AGENCY TRIP
Eric Haley, Executive Director, reported on the meetings held with the
bond rating agencies and the remarkable comments received regarding
Riverside County Transportation Commission's financial prospects.
During those meetings, use of private/public financing for future
projects and importance of an investment portfolio were discussed.
Chair Lowe and Vice Chair Marion Ashley commented on the value of
the annual meetings with the bond rating agencies and the overall
success of the trip. They also commended Theresia Trevino, Chief
Financial Officer, for her organizational efforts that contributed to the
success of the trip.
4. MANAGEMENT STAFF RETREAT
Eric Haley stated that a retreat was held with the management staff
on Friday, December 2nd. The retreat was timely, proved to be very
beneficial, and focused on staffing needs to sufficiently support a
number of upcoming programs and projects of the Commission. He
presented the interim organization chart and provided an overview of
the proposed organizational changes.
Commissioner Jeff Miller expressed his support for Stephanie Wiggins'
promotion and recognized her realm of possibilities.
M/S/C (Henderson/Miller) to approve the interim organization
chart and the organizational changes as proposed by the
Executive Director.
6. CLOSED SESSION
At this time, the Executive Director declared that there was not a need
for a closed session.
7. ADJOURNMENT
There being no other items to be considered, the Executive Committee
meeting adjourned at 8:54 a.m. The next meeting is scheduled to be
held at 8:00 a.m., Wednesday, January 12, 2006.
Respectfully submitted,
Jennifer Harmon
Acting Clerk of the Board
AGENDA ITEM 4
•
REVISION TO AGENDA ITEM 4
Additions are noted by Bold Italics, Deletions are noted by Strikethrough
RIVERS/DE COUNTY TRANSPORTATION COMMISSION
DATE:
February 8, 2006
TO:
Executive Committee
FROM:
Anne Mayer, Programming and Administration Director
THROUGH:
Eric Haley, Executive Director
SUBJECT:
Approval of Revised 401(a) Defined Contribution Qualified Plan
Loan Guidelines and 457 Deferred Compensation Plan Loan
Program and Guidelines and Adoption of Resolutions 06-001 and
06-002
'STAFF RECOMMENDATION:
This item is for the Committee to:
1) Approve the revised 401(a) Defined Contribution Qualified Plan Loan
Guidelines;
2) Adopt Resolution 06-001, "Resolution of the Riverside County
Transportation Commission Adopting a Loan Policy for Its
Governmental Money Purchase Plan";
3) Approve the 457 Deferred Compensation Plan Loan Program and
Guidelines; and,
4) Adopt Resolution 06-002, "Resolution of the Riverside County
Transportation Commission Adopting a Loan Policy for Its Deferred
Compensation Plan':
BACKGROUND INFORMATION:
Commission employee benefits include employer paid contributions to a 401(a)
Defined Contribution Qualified Plan as well as optional employee paid contributions
to a 457 Deferred Compensation Plan. Both plans are administered by ICMA
Retirement Corporation. ICMA, in accordance with Internal Revenue Code (IRC)
Section 72(p), allows participants to borrow portions of their vested account
balances subject to specific criteria. One of the requirements is that the employer
must establish a loan program. In July 1993, the Commission approved an
amendment to the 401(a) plan to allow loans and adopted loan guidelines. Loans
to employees from 457 plans were not included in that program. There are no
additional administrative costs associated with the loan program.
Staff recommends approval of revised 401(a) loan guidelines and the establishment
of a 457 Loan Program. Copies of the guidelines will be available for review and
discussion at the Committee Meeting.
Financial Information
In Fiscal Year Budget:
N/A
Year:
N/A
Amount:
N/A
Source of Funds:
N/A
Budget Ad ustment:
N/A
GLA No.:
N/A
Fiscal Procedures Approved:
99
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Date:
01 /31 /2006
Agenda Item 4
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R I V E R S / D E C O U N T Y T R A N S P O R T A T I O N C O M M I S S I O N
D A T E :
F e b r u a r y 8 , 2 0 0 6
T O :
E x e c u t i v e C o m m i t t e e
F R O M :
A n n e M a y e r , P r o g r a m m i n g a n d A d m i n i s t r a t i o n D i r e c t o r
T H R O U G H :
E r i c H a l e y , E x e c u t i v e D i r e c t o r
S U B J E C T :
A p p r o v a l o f R e v i s e d 4 0 1 ( a ) D e f i n e d C o n t r i b u t i o n Q u a l i f i e d P l a n
L o a n G u i d e l i n e s a n d 4 5 7 D e f e r r e d C o m p e n s a t i o n P l a n L o a n
P r o g r a m a n d G u i d e l i n e s
S T A F F R E C O M M E N D A T I O N :
T h i s i t e m i s f o r t h e C o m m i t t e e t o :
1 ) A p p r o v e t h e r e v i s e d 4 0 1 ( a ) D e f i n e d C o n t r i b u t i o n Q u a l i f i e d P l a n L o a n
G u i d e l i n e s ; a n d
2 ) A p p r o v e t h e 4 5 7 D e f e r r e d C o m p e n s a t i o n P l a n L o a n P r o g r a m a n d
G u i d e l i n e s .
B A C K G R O U N D I N F O R M A T I O N :
C o m m i s s i o n e m p l o y e e b e n e f i t s i n c l u d e e m p l o y e r p a i d c o n t r i b u t i o n s t o a 4 0 1 ( a )
D e f i n e d C o n t r i b u t i o n Q u a l i f i e d P l a n a s w e l l a s o p t i o n a l e m p l o y e e p a i d c o n t r i b u t i o n s
t o a 4 5 7 D e f e r r e d C o m p e n s a t i o n P l a n . B o t h p l a n s a r e a d m i n i s t e r e d b y I C M A
R e t i r e m e n t C o r p o r a t i o n . I C M A , i n a c c o r d a n c e w i t h I n t e r n a l R e v e n u e C o d e ( I R C )
S e c t i o n 7 2 ( p ) , a l l o w s p a r t i c i p a n t s t o b o r r o w p o r t i o n s o f t h e i r v e s t e d a c c o u n t
b a l a n c e s s u b j e c t t o s p e c i f i c c r i t e r i a . O n e o f t h e r e q u i r e m e n t s i s t h a t t h e e m p l o y e r
m u s t e s t a b l i s h a l o a n p r o g r a m . I n J u l y 1 9 9 3 , t h e C o m m i s s i o n a p p r o v e d a n
a m e n d m e n t t o t h e 4 0 1 ( a ) p l a n t o a l l o w l o a n s a n d a d o p t e d l o a n g u i d e l i n e s . L o a n s
t o e m p l o y e e s f r o m 4 5 7 p l a n s w e r e n o t i n c l u d e d i n t h a t p r o g r a m . T h e r e a r e n o
a d d i t i o n a l a d m i n i s t r a t i v e c o s t s a s s o c i a t e d w i t h t h e l o a n p r o g r a m .
S t a f f r e c o m m e n d s a p p r o v a l o f r e v i s e d 4 0 1 ( a ) l o a n g u i d e l i n e s a n d t h e e s t a b l i s h m e n t
o f a 4 5 7 L o a n P r o g r a m . C o p i e s o f t h e g u i d e l i n e s w i l l b e a v a i l a b l e f o r r e v i e w a n d
d i s c u s s i o n a t t h e C o m m i t t e e M e e t i n g .
A g e n d a I t e m 4
Financial Information
In Fiscal Year Budget:
N/A
Year:
N/A
Amount:
N/A
Source of Funds:
N/A
Budget Ad ustment:
N/A
GLA No.:
N/A
Fiscal Procedures Approved:
LAbl,�{+as4,,
Date:
01 /31 /2006
Agenda Item 4
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A G E N D A I T E M 5
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RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE:
February 8, 2006
TO:
Executive Committee
FROM:
Jennifer Harmon, Acting Clerk of the Board
THROUGH:
Eric Haley, Executive Director
SUBJECT:
Proposed 2006 Committees Meeting Schedule and Transit Policy
Committee Membership
STAFF RECOMMENDATION:
This item is for the Committee to approve the proposed 2006 Committees meeting
schedule and to review and discuss the Transit Policy Committee membership.
BACKGROUND:
With regards to the meeting schedule of the Commission's Committees (Budget &
Implementation, Plans & Programs, Transit Policy), with numerous meetings that
Commissioners attend for their respective agency and for the Commission,
including additional Ad Hoc Committee commitments, staff has attempted to locate
a date and time that fits in with Commissioners' schedules. At its December 14th
meeting, the Commission approved that the three statutory Committees be
scheduled on the same date — 4`h Monday of each month. It is important to note
that the Transit Policy Committee only meets on a quarterly basis, in January,
April, July and October. Since the Commissioners have that the 4t Monday
already marked to attend either Plans & Programs or Budget & Implementation
Committee meetings in Riverside, scheduling the Transit Policy Committee meeting
on the same day provides convenience for the Commissioners.
After the Committee meetings held on January 23'd, Budget and Implementation
Committee Commissioners expressed conflicts with the
8:30 a.m. meeting time (previously 10:00 a.m.).. In response to Commissioners'
concerns, staff polled the respective Commissioners to seek feedback on a newly
proposed meeting time of 9:30 a.m. The majority of Commissioners responded
positively to the new time.
As for the Transit Policy Committee, the current meeting time is 10:30 a.m. Due
to the proposed shift of the Budget and Implementation Committee meeting time,
staff polled the respective Commissioners to seek feedback on a newly proposed
meeting time of 11:00 a.m. and requested additional days and times the
Commissioners would be available if the proposed time for quarterly meetings
Agenda Item 5
causes a schedule conflict. Only one of the responding Commissioners expressed a
conflict with the proposed time. Therefore, staff recommends changing the
Committee meeting times as proposed.
Additionally, this item is for the Committee to discuss the current membership of
the Transit Policy Committee.
Attachments:
1) Proposed 2006 Committee Meeting Schedule
2) Transit Policy Committee Members
Agenda Item 5
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T R A N S I T P O L I C Y C O M M I T T E E
2 0 0 6 A P P O I N T M E N T
M e m b e r
A p p o i n t m e n t Y e a r
R o g e r B e r g / C i t y o f B e a u m o n t
2 0 0 4
J o h n C h l e b n i k / C i t y o f C a l i m e s a
2 0 0 6
T e r r y H e n d e r s o n / C i t y o f L a Q u i n t a
2 0 0 4
F r a n k W e s t / C i t y o f M o r e n o V a l l e y
2 0 0 4
F r a n k H a l l / C i t y o f N o r c o
2 0 0 4
D i c k K e l l y / C i t y o f P a l m D e s e r t
2 0 0 4
D a r y l B u s c h / C i t y o f P e r r i s
2 0 0 6
S t e v e A d a m s / C i t y o f R i v e r s i d e
2 0 0 6
( r e p l a c e d v a c a n c y b y A m e a l M o o r e )
J e f f S t o n e / C o u n t y o f R i v e r s i d e
2 0 0 5
( r e p l a c e d v a c a n c y b y
P e r c y B y r d / I n d i a n W e l l s )
J o h n T a v a g l i o n e / C o u n t y o f R i v e r s i d e
2 0 0 4
R o y W i l s o n / C o u n t y o f R i v e r s i d e
2 0 0 4
J e f f M i l l e r r e q u e s t e d t h a t h e n o t b e r e a p p o i n t e d f o r 2 0 0 6
D a r y l B u s c h a n d J o h n C h l e b n i k w e r e a p p o i n t e d f o r 2 0 0 6