LISSETE ALEMAN

The agenda for the meeting included approval of the previous meeting minutes from October 8, 2025. Key discussion items involved receiving and filing the Fourth Quarter 2025 Performance Report, legal and regulatory updates, a review of the Committee By-Laws, and plan reviews for Corebridge Financial, Nationwide, and Gallagher VEBA Plan. Under new business, the Committee discussed strategies to drive participation and contributions, requesting record-keepers provide relevant plan metrics at the subsequent meeting. The Federal Reserve's decision in December to lower interest rates and anticipate 1-2 cuts in 2026 was noted in the economic review. The performance report highlighted positive returns across major equity indices for Q4 2025, though international equities outperformed domestic equities for the calendar year. Legal updates covered executive orders related to private market investments in retirement plans and the DOL's stance on cryptocurrencies. A draft Fee and Expense Policy Statement indicated specific recordkeeping fees for Corebridge and Nationwide plans, and a draft Committee By-Laws requested consistency in naming conventions.

The agenda for the Investment Oversight Committee meeting included a call to order and introductions, the approval of the Meeting Minutes from November 6, 2025, a review of the Monthly Disclosure Reports of the Treasurer's Pooled Investment Fund, and reports on investments held outside of the County Treasury, specifically for the County of Riverside Asset Leasing Corporation (CORAL), Infrastructure Financing Authority (IFA), Land Secured Districts (CFDs/AD), Pension Obligation Bonds (POBs), and the Successor Agency to the Redevelopment Agency. The agenda concluded with Other Business, Public Comment, and adjournment.

The upcoming meeting agenda includes the call to order and introductions, review and approval of the Minutes from the January 23, 2025 meeting, presentation of Monthly Disclosure Reports of the Treasurer's Pooled Investment Fund, and presentation of Investment Reports for Funds Outside of the County Treasury, covering entities such as the County of Riverside Asset Leasing Corporation (CORAL), Infrastructure Financing Authority (IFA), Land Secured Districts (CFDs/AD), Pension Obligation Bonds (POBs), and the Successor Agency to the Redevelopment Agency. The agenda also allocates time for public comment and other business, before adjourning to the next scheduled meeting in July 2025.

The primary discussion focused on the Second District's recommendation for the use of American Rescue Plan Act (ARPA) - Community Improvement Designation (CID) Funds, totaling $165,000.00, distributed among several local non-profit organizations. Key allocations include $100,000.00 for Friends of Leaps and Bounds Pediatric Therapy for arena cover construction to increase therapy sessions, and $25,000.00 for Path of Life Ministries to support two crisis stabilization units in Jurupa Valley. Other approved donations included $10,000.00 each to Milvet for economic stabilization of veteran households, W.H. Jameson, Jr. American Legion Post 216 for meeting space and HVAC system replacement, American Legion Lynn Morton Post 200 for canteen floor repair, and American Legion Auxiliary Unit 328 for annual holiday outreach. The recommended motion involved approving budget adjustments to increase appropriations by $165,000 from ARPA - CID Funds.

The Board of Supervisors convened to address several crucial items related to the Housing and Workforce Solutions/Workforce Development Division (HWS/WDD). Key actions included approving the allocation of $1,225,000 in Fifth District American Rescue Plan Act (ARPA) funds to HWS/WDD for the implementation of the 2nd Chance Youth Employment Program. This program aims to support at-promise and justice-impacted youth and young adults in District 5 between the ages of 16-24, launching from August 1, 2024, through September 30, 2026. The Board authorized the Director of HWS to release a Request for Proposal (RFP), award a contract not to exceed $1,109,000 to a service provider, and execute the necessary template agreements. The project was determined to be exempt from CEQA review under the Common Sense Exemption.