BOARD MEETING DATE: June 4, 2010
AGENDA NO. 14

PROPOSAL:

Appoint Members to Deferred Compensation Plan Committee

SYNOPSIS:

On May 2, 2008, the Board adopted a resolution approving the Charter of the Deferred Compensation Plan Committee. This four-member committee oversees the administration of the Section 457 Deferred Compensation Plan which AQMD offers to its employees, and periodically reports its activities to the Board to ensure all legal requirements regarding fiduciary responsibilities are met. Pursuant to the Charter approved by the Board, the Board must appoint new members to the committee whenever vacancies occur. Two members retired in April, 2010, and a third member will resign from the committee, effective July 16, 2010. This action is to appoint successors to these members.

COMMITTEE:

Administrative, May 14, 2010, Recommended for Approval

RECOMMENDED ACTIONS:

Appoint Chief Financial Officer Michael O’Kelly and Assistant Deputy Executive Officer, Administrative and Human Resources William J. Johnson, to the Deferred Compensation Plan Committee, effective June 4, 2010, and Human Resources Manager Jeanell Bradley, effective July 16, 2010. 
 

Barry R. Wallerstein, D.Env.
Executive Officer

Background

On May 2, 2008, the Board adopted a resolution approving a Charter establishing the Deferred Compensation Plan Committee. The committee oversees the administration of the Section 457 Deferred Compensation Plan that AQMD offers to its employees. The four members of this committee are the Chief Financial Officer, the Assistant Deputy Executive Officer, Administrative and Human Resources, the Human Resources Manager over employee benefits, and the General Counsel.

Article 8.1 of the Committee Charter provides that whenever there is a vacancy on the committee, the Board has the authority to appoint new committee members. The former Chief Financial Officer and Assistant Deputy Executive Officer, Administrative and Human Resources retired from AQMD on April 1, 2010, and the current Human Resources Manager over employee benefits has informed the committee he intends to resign his committee position, effective July 16, 2010.

Proposal

Appoint Chief Financial Officer Michael O’Kelly and Assistant Deputy Executive Officer, Administrative and Human Resources William J. Johnson to the Deferred Compensation Plan Committee, effective June 4, 2010, and Human Resources Manager Jeanell Bradley, effective July 16, 2010, to replace outgoing members of the committee.

Resource Impacts

None