Transcript Highlights:

• And as part of our asset smoothing method, we are still incrementally recognizing the impacts of that
• But our method for studying salary growth kind of determines what that dividing line is for the purpose
• I'm going to provide a little bit of background on Milliman's method, and then I'll get into what that

Summary: The Pension Funding Council met on October 8 with introductions from council members and staff, then received a detailed presentation from the Office of the State Actuary on long-term economic assumptions and the state pension systems’ financial condition. OSA reported that the combined pension systems are currently 100% funded on a smoothed basis, with open plans above 95% funded, and that legacy Plan 1 systems remain on a path toward full funding under current policy. The actuaries recommended updating assumptions to 3% inflation, 3.5% general salary growth, and a 7.25% investment return, while keeping Plan 1 membership growth at 1%. They also explained asset smoothing, the role of recent strong investment returns, and the expected budget impacts of the recommended changes. Representatives from the Economic and Revenue Forecast Council and the State Investment Board offered supporting perspectives, generally describing the assumptions as reasonable and consistent with their own outlooks. The council also heard an overview of the Long-Term Services and Supports Trust Program (WACares) from DSHS and OSA. Program staff described the program’s social insurance structure, premium collection, benefit eligibility, and upcoming implementation milestones. OSA reported that the program’s first actuarial valuation showed a positive actuarial balance under the base scenario and recommended no change to the current 0.58% premium rate during the program’s early learning phase, noting that future changes would depend on experience and the program’s risk-management framework. OSA also said the recommendation would remain the same regardless of the outcome of the pending ballot measure affecting investment options. During public comment, a representative of the Washington State School Retirees Association urged continued work on Plan 1 funding and related legislation, while the Association of Washington Cities cautioned against increasing pension assumptions in a way that could raise future employer costs and reduce flexibility for current local government services. In action, the council adopted a motion to maintain the current long-term economic assumptions by a 4-2 vote, adopted the recommendation to keep the WACares premium rate at 0.58% by a 6-0 vote, and then elected Katie Chapman as council chair by unanimous vote. The meeting then adjourned.

Transcript Highlights:

• Without stronger penalties, we are outpaced by traffickers who adapt their methods with alarming speed
• This bill was written to address a sophisticated method of fuel theft called pulsar tampering.
• As industry and law enforcement figured out what pulster tampering is, it evolved into other methods

Transcript Highlights:

• Additionally, the amendment removes a section of the bill relating to methods of execution.
• So we're changing that method to give the governor more direct control without confirmation of the Senate
• So we're changing that method to give the governor more direct control without confirmation of the Senate

Summary: The Appropriations Committee on Criminal and Civil Justice considered and reported favorably a series of criminal justice, corrections, and public safety bills. Among the measures approved were SB 468, increasing penalties for fleeing or attempting to elude law enforcement and allowing impoundment of involved vehicles; SB 1136, tightening age-related criminal offense provisions and clarifying that ignorance or misrepresentation of a victim’s age is not a defense in covered cases; SB 144, which was described as a broad public safety measure addressing law enforcement tools, AI/body camera use, concealed carry licensing exemptions for law enforcement, blood testing after exposure incidents, and related matters; and SB 1782, creating a dangerous excessive speeding offense for extreme speeding conduct. The committee also approved SB 964 on objective parole guidelines, SB 1450 giving law enforcement discretion on immediate arrest of individuals with significant medical conditions in nursing home or assisted living settings, SB 612 closing a loophole related to charging minors in drug-distribution deaths, SB 1838 protecting court officials from tampering, harassment, and retaliation, SB 776 adding an aggravating factor for assassination or attempted assassination of a head of state, and SB 716 imposing mandatory minimums for certain sexual offenses committed by registered sex offenders or predators. Several bills drew notable testimony and debate. SB 1804, which would make sex trafficking of a child under 12 or a mentally incapacitated person a capital offense, received strong support from the sponsor and some members who argued it was needed to address the most heinous trafficking cases, but it also drew opposition from the Florida Conference of Catholic Bishops, Florida Association of Criminal Defense Lawyers, and others who argued the death penalty should not be expanded to non-homicide crimes and would be unconstitutional, costly, and retraumatizing to victims. SB 1604 on corrections, which included provisions on inmate litigation, limitations periods, tracking devices, and involuntary mental health treatment, prompted questions about inmate rights, accountability, and possible abuse; the sponsor said the bill was intended to balance access to claims with institutional safety and to continue refining the language. SB 1838 also drew concerns from criminal defense lawyers about possible unintended effects on attorneys, and the sponsor said he would work on clarifying the language. The committee adopted amendments on several bills, including a substitute amendment to SB 144 that removed some provisions for further work, added first responder-related provisions, and adjusted motor vehicle kill-switch language; an amendment to SB 1136 changing the age threshold and refining luring/enticement language; a strike-all amendment to SB 964 limiting retroactivity and focusing on presumptive parolees; and a delete-all amendment to SB 1604 that revised multiple provisions, including tracking devices and consecutive sentencing under 10-20 Life. Most bills were reported favorably by roll call, with SB 776 and SB 1804 passing despite recorded no votes from some members. The chair closed by noting it was the committee’s final meeting of the session and thanked members before adjournment.

Transcript Highlights:

• seriously address putting a cap on withdrawals from there to protect people and maybe some kind of method
• have quite a bit of elder folks who get taken advantage of, and a lot of the fraudsters use online methods
• HB 97 enables an injunction against unknown scammers by allowing service through the same method that

Summary: The committee met with a quorum and heard five bills. HB 1097 would rename the Florida Catastrophic Storm Center at FSU as the Florida Center for Excellence in Insurance and Risk Management, transfer the public hurricane loss projection model from FIU to FSU, and provide recurring and nonrecurring appropriations to support independent insurance research and collaboration with OIR and other universities. Members discussed university roles, model oversight, independence from industry funding, and student/workforce benefits. The bill passed favorably on a roll call vote. HB 319 would create a regulatory framework for virtual currency kiosk businesses, requiring registration with the Office of Financial Regulation, consumer disclosures, and penalties for violations. Much of the discussion focused on fraud prevention, especially for seniors, and whether the bill should include transaction caps or stronger recovery tools; AARP supported the bill but urged additional protections. The bill passed favorably. CS/HB 385 made technical changes to the Florida Trust Code and Community Property Trust Act, including decanting, trustee claims, redemption by satisfaction, and homestead transfer treatment; an amendment conforming to the Senate version was adopted, and the bill passed favorably. CS/HB 97 would allow service of process for exploitation injunctions against unascertainable scammers through the same communication method used to contact the victim, such as text or social media, and would let courts freeze funds temporarily while the matter is heard. Testimony from elder law practitioners and AARP supported the bill as a tool against scams, while some members raised due process and overreach concerns; the bill passed favorably. HB 839 would shorten the overpayment recovery window for claims submitted to psychologists and HMOs to match other health providers, with the goal of improving parity and access to mental health care; an amendment was adopted, and the bill passed favorably. The meeting concluded with adjournment after the final roll call votes.

Transcript Highlights:

• ALSO SAMPLE PASSING TESTS BECAUSE IT IS POSSIBLE IF SOMETHING WAS DEVELOPED WITHIN AN APPROPRIATE METHOD
• FOR THE LABS WE ARE WORKING ON MAKING SURE THEY USE APPROPRIATE METHODS AND WHEN WE CHECKED THEIR DATA
• IT MATCHES THE METHOD AND IN FACT SUPPORTS THE NUMBERS.

Keywords: 999, senate, all

Transcript Highlights:

• San Fratello of the Jefferson County Sheriff's Office.
• I don't even know what that means, but a parallel convergent mixed methods case study research designed
• I don't even know what that means, but a parallel convergent mixed methods case study research designed
• I don't even know what that means, but a parallel convergent mixed methods case study research designed
• I don't even know what that means, but a parallel convergent mixed methods case study research designed

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, May 15, 2025, 1012, house, all

Transcript Highlights:

• So I, we need to be heavily involved in how we decide what the procurement methods are moving forward
• are moving forward and probably methods are moving forward and probably something's<01:09:45.640>
• I think we should dictate it be a method I think we should dictate it because<01:09:57.480> it'll
• <01:09:57.600> be<01:09:57.680> a<01:09:57.760> method because it'll be a method
• because it'll be a method which<01:09:59.200> can<01:09:59.320> extract<01:10:00.160><

Keywords: 1187, senate, all

Transcript Highlights:

• :12:24.080> management alternative vegetation management alternative vegetation management methods
• methods along the Hana Highway. methods along the Hana Highway.
• <00:26:58.040> some<00:26:58.280> type<00:26:58.520> of<00:26:58.640> method
• c><00:26:59.760> cuz<00:27:00.000> are<00:27:00.160> we do have some type of method
• cuz are we do have some type of method cuz are we setting<00:27:01.360> ourselves<00:27:01.760

Keywords: 910, house, all

Summary: The House Transportation Committee met on March 31 and heard a series of resolutions focused on roadway safety, transportation access, and infrastructure coordination. Early measures included HCR 104/HR 96 on advancing coastal trails on O‘ahu’s North Shore and HCR 63/HR 57 on clarifying responsibility for Honouliuli Bridge and addressing safety, wildfire, and emergency access concerns. The Department of Transportation supported both, and a resident testified that the Honouliuli bridge is a single-lane emergency replacement on state land that has limited access for fire protection, heavy vehicles, permits, and repairs. DOT said it was working with DLNR and that jurisdiction may ultimately lie with the County of Maui, with research ongoing. The committee also heard HCR 62/HR 56 on alternative vegetation management along Hana Highway, HCR 43/HR 39 on raised crosswalks near Ala Wai Elementary, and HCR 52/HR 48 on integrating the safe system approach into county road design; these drew support testimony and no opposition. The committee then considered HCR 120/HR 112 on regulating transportation network companies under motor carrier law. DOT and the Public Utilities Commission offered comments, while Lyft opposed, arguing the legislature already created a TNC-specific framework in 2022 and that motor carrier law is not a good fit for app-based ride platforms. In questioning, PUC explained that TNCs would fall under both PUC motor carrier jurisdiction and DOT permitting, and DOT said it would follow up on enforcement questions. Members also discussed HCR 119/HR 111 on an indirect traffic disruption grant program, with the chair asking DOT to clarify how it enforces penalties when contractors or others fail to follow road closure requirements. Other measures discussed included HCR 96/HR 88 on moving to a demerit-point driver licensing system, which DOT supported; HCR 128/HR 120 on coordinating capital improvement planning for Hawaiian Home Lands developments, which DOT and DHHL supported; HCR 127/HR 119 on a state highway police force, which DOT supported; and HCR 125/HR 117 on a statewide plan for derelict utility poles and lines, which drew support from DOT, Hawaiian Electric, and Hawaiian Telcom, with DOT acknowledging it lacks current statutory authority to force immediate removal. The committee also heard HCR 58/HR 54 on school crosswalk safety for Mililani Elementary, HCR 55/HR 51 on using artificial intelligence to mitigate traffic and improve road safety, and HCR 54/HR 146 on expanding the Hele-On Shared Ride program on Hawai‘i Island. Supporters of the Hele-On measure said expanded service would help rural residents, kupuna, and people with disabilities reach medical appointments and daily activities, while noting cost and technology-access concerns; they said missed or delayed appointments are a real issue in remote areas. The final item discussed in the excerpt was HCR 64/HR 58 on minimizing rumble strip dimensions on Kūhiō Highway on Moloka‘i, with DOT saying it had already removed some strips where large emergency vehicles were affected on narrow curves.

Transcript Highlights:

• Um, and with respect to those alternative methods, are those ones that would shift the cost to the rider
• Um, and with respect to those >> Um, and with respect to those alternative<00:53:09.040> methods
• ,<00:53:10.000> are<00:53:10.240> those<00:53:10.480> in alternative methods
• , are those in alternative methods, are those in methods<00:53:11.359> ones<00:53:11.599> that
• ones that would shift the cost methods ones that would shift the cost to<00:53:12.559> the<00

Keywords: 919, house, all

Summary: The committee heard a Met Council report from Charles Carlson on high-subsidy transit route analysis required by the transportation bill. Carlson explained that the study uses per-passenger operating subsidy, compares routes by type and service day, and is intended to help providers improve cost-effectiveness while recognizing transit’s importance for access, affordability, safety, and the region’s economy. He noted that routes more than 60% above peer averages are considered the highest-subsidy tier, and that the report also estimates the cost of Metro Mobility associated with those routes. Members asked several questions about why contracted service can cost less than directly operated service, whether contracting affects wages, union membership, or service quality, and why the Met Council targets about 20% of regular route service for contracting. Carlson said contracted service can be cheaper because of lower overhead and other market factors, that the council sets minimum wage and service-quality requirements in contracts, and that customers should not notice a quality difference. He also said the 20% target is meant to balance cost-effective service, geography, and a mix of providers, and that some routes may become more cost-effective with more frequent service depending on local demand. Carlson reported that in 2024, 206 of 264 routes met guidelines, 16 were in the lowest intervention tier, 14 in the middle tier, and 28 were in the highest-subsidy tier. He said the regional share of high-subsidy service was about 4.1%, but the share varied widely by provider, with some at 0% and others much higher. He estimated that discontinuing the highest-subsidy routes would save about $23 million annually and up to $72 million in capital costs. For Metro Mobility, he said the cost associated with trips tied to high-subsidy routes rose from about $368,000 in 2023 to about $6.1 million in 2024, largely because the mix of routes triggering federally mandated paratransit service changed, especially in the Shakopee area.

Transcript Highlights:

• I think where we want to focus is ensuring people who don't have a choice, who only have one method of
• The low-carbon fuel standard is a cost-effective method of...
• The low carbon fuel standard is a cost-effective method of meeting our greenhouse gas goals, as you've
• So there might be some incentive to keep doing a low-cost effective method that also gives you money.
• “Might be some incentive to keep doing a low-cost effective method that also gives you money, but it’

Summary: The hearing was a select committee discussion on the transportation costs and impacts of California’s Low Carbon Fuel Standard (LCFS), with opening remarks from the co-chairs and members emphasizing affordability, climate goals, and the need to explain the program’s benefits to the public. The first panel from CARB and the California Energy Commission described how LCFS works as a market-based, declining carbon-intensity program that rewards lower-carbon fuels, supports zero-emission vehicle infrastructure, and is intended to reduce greenhouse gases and local air pollution. They argued the program has driven billions in private investment, increased alternative fuel use, and that LCFS credit prices are not the main driver of retail gasoline prices, which they said are dominated by crude oil, refining, and distribution costs. Members questioned the panel on the gap between the regulatory target and actual carbon-intensity performance, the role of credit banking, which fuels are generating the most credits, how the 2025 amendments affected the program, and whether LCFS credits are truly additional. CARB explained that banking helps cost-effectiveness and investment certainty, that ethanol, renewable diesel, and biodiesel currently provide the largest volumes while electricity is expected to grow, and that the updated targets were informed by the state’s 2045 carbon-neutrality goals and the 2030 scoping plan. The Energy Commission said its data show environmental programs add some cost to gasoline but do not drive price volatility, which is mainly tied to crude oil and refinery margins. The second panel, featuring academic and research experts, focused on program design, out-of-state credit generation, and broader economic effects. Speakers said LCFS is successful because it ties incentives to emissions benefit, uses life-cycle analysis, and allows flexible compliance that lowers costs compared with more direct regulation. They also said the program’s benefits generally outweigh costs, that it can reduce air pollution disparities and support equity, but that some issues—especially indirect land use change, additionality, and older program assumptions—need more research and may warrant future rulemaking. One researcher noted that while LCFS likely raises gasoline prices somewhat, the effect is uncertain by design and usually smaller than normal market fluctuations, and another warned that limiting credit generation too narrowly could create legal and efficiency problems.

Transcript Highlights:

• removes the existing sunset for the Los Angeles Unified School District's best value procurement method
• The best value procurement method allows schools to consider factors such as experience, quality, and
• That method has proven to be a success and it's imperative that school districts across California have
• Composting livestock carcasses is a method already allowed in 42 other states, and more are moving in
• Their regulatory methods are punitive, and it's really scary for pharmacists that engage in compound

Keywords: 988, house, all

Transcript Highlights:

• Members, this bill relates to the development of a standard method of computing. student's high school
• with the State Board for Educator Certification working on this issue and revamping an alternative method
• by delaying or or you know doesn't help people not to give them the grading system actually It's a method
• and learning methods that are proven rather than using a curriculum that is underserving for the students
• And it's directly tied to the curriculum and the teaching methods, the learning methods that are being

Bills: SB451, SB762, SB1490, SB1262, SB1459, SB1750, SB1962, SB2252, SB2253, SB2365

Keywords: instructional materials, public schools, Education Code, adoption, rejected materials, local funds, open educational resources, Texas Education Code, school districts, open enrollment charter schools, funding restrictions, environmental regulation, business compliance, local authority, economic development, state preemption, local control, open education resources, SB 762, Texas public schools

Transcript Highlights:

• PFAS compounds, but this particular method looked at 36 of them. So that's the sum of the 36.
• Um, but they are the only effective method I have of dealing with bears and birds of prey.
• Um, but they are the only effective method I have of dealing with bears and birds of prey."
• of protecting our livestock from methods of protecting our livestock from attack<05:00:39.680> or
• <05:00:50.878> of less humane and ecological methods of less humane and ecological methods

Keywords: 1189, house, all

Transcript Highlights:

• able to find somebody who is, whether that's through status, intimidation, whatever else, or just methods
• and tactics managed... ...or just methods and tactics managed to avoid, you know, any sort of repercussion

Keywords: 970, all

Transcript Highlights:

• It's also going to require landlords to offer digital payment of rent, to provide alternative methods
• of payment if they can't afford or if they can't figure out how to use the digital methods.

Keywords: 919, house, all

Summary: The House took up Senate File 4171, a housing bill addressing sub-metered utility services and final billing for vacant tenants. Representative Igo explained that the bill allows shared-metered residential buildings to bill the last billing period before a tenant vacates based on estimates, requires landlords to offer digital rent payment with alternative payment methods for tenants who cannot use or afford digital options, and bars extra fees beyond administrative and late fees. Members described the measure as a cleanup bill developed with multiple landlord-tenant stakeholders. Two amendments were adopted. Amendment A2 expanded expedited eviction language to cover threats or harm directed not only at other residents but also at landlords, employees, contractors, and others present at the property, while keeping safeguards such as sworn affidavits, judicial review, service timelines, and penalties for misuse. Amendment A1 protected minor children from appearing in eviction cases and from having eviction records attached to them later, with penalties for noncompliance. Supporters said both amendments were friendly, part of the broader agreement on the landlord-tenant package, and intended to improve safety and protect children. After third reading and brief closing remarks from Representatives Howard and Igo, who thanked committee members, advocates, and stakeholders for bipartisan work, the House took a roll call vote. The bill passed as amended by a vote of 134 yeas and 0 nays, and its title was agreed to.

Transcript Highlights:

• And, you know, we have to consider and contemplate innovative financing methods.
• And conventionally, using conventional methods, to Senator D's question, it's going to take decades to

Summary: The committee received a report from Director Wiley of the Arkansas Department of Transportation on a series of routine and quarterly items, including the closeout of the department’s efficiency review. Wiley said all five remaining recommendations from that review had been implemented, highlighted a new public maintenance dashboard on the agency website, and reported four surplus properties sold since the last meeting. He also noted that ARDOT had obligated $3.14 billion in Infrastructure Investment and Jobs Act funding to date and reviewed the annual expenditure report tied to 2019 revenue changes, which funded $98.7 million in maintenance projects last year. Members asked about the balance between maintenance and new construction, with Wiley saying about 75% of construction dollars go to maintaining the existing system and that ARDOT’s overall spending is overwhelmingly focused on upkeep because of the size of the state highway network. He also discussed major projects and corridor priorities, including Interstate 57 and Highway 5 work in Lonoke County, Interstate 49 public meetings, passing-lane improvements on Highway 412/62 in north central Arkansas, Highway 82 widening in south Arkansas, and long-range plans to widen Interstate 40, possibly including a toll study. On the Toad Suck Bridge flood mitigation project, he said the design had been revised to reduce public impacts and would not require a long-term bridge closure. The committee also discussed safety and enforcement tools in work zones. Wiley said new work-zone cameras and cell phone detection tools were being used on projects such as I-30, I-57, and I-49, mainly to improve safety rather than issue citations. In addition, he said ARDOT spends about $8 million annually on litter control and is expanding anti-litter efforts, including a spring cleanup day involving more than 2,500 operations employees and some office staff. He also announced agency initiatives on human trafficking awareness training for field and office staff and the Street Smart education program for middle school students, with plans to expand it to high school content next year. No votes were taken, and the meeting adjourned after the director’s presentation and member questions.

Transcript Highlights:

• The Revenue Subcommittee met on Tuesday and reviewed methods of finance, one alternate delivery construction
• The Revenue Subcommittee met on Tuesday and reviewed methods of finance, one alternate delivery construction

Summary: The committee met and opened with a prayer, then approved the prior meeting minutes and received the monthly revenue report from the Bureau of Legislative Research. The report showed gross general revenue collections up year to date and net general revenue above forecast, with the staff noting changes driven by casino gaming transfers, income tax growth, and a lottery-related collection. No action was required on the revenue report. Several subcommittee reports were then presented and adopted, including the executive committee, administrative rules, game and fish/state police, hospital/Medicaid/developmental disability, occupational licensing, PEER, revenue, state insurance programs, and personnel. Topics included a Jackson County School District cooperative purchasing waiver, rulemaking updates from several agencies, federal immigration and wildlife issues, SNAP and Medicaid waiver reimbursement rates, occupational authorization reviews, temporary appropriations and transfer requests, a tire removal contract held for later review, EBD pharmacy and medical drug recommendations, and personnel items. The PEER report also included questions to the State Broadband Director about a provider with delinquent property taxes; he said the provider would not be brought forward until the issue is resolved and that broadband grant payments are tied to performance milestones. The most extended discussion came during review of a State Insurance Department report on pharmacy benefit manager oversight. Commissioners and members questioned Navitus Health Solutions’ refusal to provide certain claims data for self-funded plans in an affiliate pricing examination. The department said the matter is being briefed and set for an administrative hearing, likely in April, and that the dispute centers on ERISA preemption and state authority to request the data. Members also asked about the status of the other PBMs under review and whether they had raised similar objections. After all reports were adopted or filed as reviewed, the meeting adjourned with no further business.

Transcript Highlights:

• THEY PROPOSE A CONSTITUTION TO PROVIDE A NEW METHOD TO WITH FUNDS TO PROVIDE NONRECURRING FUNDING FOR
• TO ME, THERE ARE TWO METHODS. ONE IS IF THERE IS A REVENUE SHORTFALL WHICH COULD HAPPEN ANY YEAR.

Keywords: 999, senate, all

Transcript Highlights:

• we implemented the valuebased since we implemented the valuebased reimbursement<00:47:45.040> method
• <00:47:45.520> for<00:47:46.079> um<00:47:46.240> nursing reimbursement method
• for um nursing reimbursement method for um nursing facilities.<00:47:47.359> Prior<00:47:47.680
• This provision is saying we need to study these and see if we could come up with a standardized method
• for setting rates so standardized method for setting rates so that<01:21:26.719> we're<01:21:

Keywords: 1187, senate, all

Transcript Highlights:

• 2016 or 2017 or so when a new funding policy was adopted and we moved to a different amortization method
• 44.320> a<00:08:44.560> different<00:08:44.720> amortization<00:08:45.440> method
• moved to a different amortization method moved to a different amortization method referring<00:08
• is a long term and if matter what method is a long term and if you<00:57:03.359> think<00:57:
• Has the board looked at any method of having some sort of payment when someone privatizes something or

Keywords: Finance - Room 216, 20 January, 2026; 10:30 AM, 925, all

Summary: The committee heard an update from PERS Executive Director Higgins, who reported that the system has about $38 billion in assets, earned roughly 11.7% last fiscal year, and is about 57% funded. He thanked lawmakers for a newly passed $1 billion funding bill and emphasized that funding the existing system remains the top priority. Higgins also noted that the board’s actuarially recommended contribution is about 26% of payroll, while the system is currently receiving about 18.4%, and said PERS will return later in session with a few requested bills. Higgins addressed several policy topics under discussion this session, including return-to-work rules, first responders, and Tier 5. He said return-to-work changes are possible if the law is changed and funding implications are addressed. For first responders, he said any special treatment should be done within PERS rather than by creating a separate system, with the affected group and parameters clearly defined and fully funded. He also said the new Tier 5 hybrid plan is being implemented on track for March 1 and is projected to improve the system’s long-term financial position by reducing future liabilities and helping pay down the unfunded liability. Members then questioned Higgins about the system’s funding policy, the 30-year closed amortization period used in the ADC calculation, and whether that approach should be revisited in light of recent funding actions and changes in assumptions. Higgins said the board reviews the policy annually, that the closed amortization approach was chosen to better pay down the unfunded liability, and that the annual valuation and experience studies already incorporate recent funding changes, Tier 5, and the phased employer-rate increases. He acknowledged that a significant new infusion of funding could justify reviewing the amortization period, but cautioned against changing it too often because it could undermine progress toward paying down the unfunded liability.