Video & Transcript Research : 'actuarial study'
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KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (8-26-25)
Transcript Highlights:
- As you all know, we are required by statute to complete a full actuarial experience study every five
- So there's other factors here, but this is the estimate based on current actuarial studies we're able
- They will go through a study.
- Um, uh, TRS also, its independent actuary, also conducts five-year experience studies.
- >> Uh the 1.71% was an actuary number. >> Uh the 1.71% was an actuary number.
Summary:
The meeting opened with a quorum call, the Pledge of Allegiance, a prayer, and approval of the prior meeting minutes. The first presentation was from Bo Craycraft of the Judicial Form Retirement System, who gave an update on investment performance, asset allocation, cash flow, and projected employer costs. He reported strong fiscal year 2025 investment results, with both the legislative and judicial retirement plans outperforming their actuarial assumed rates of return and benchmarks, driven largely by U.S. equity performance. He also noted the plans remained near their target asset allocation and continued to experience negative cash flow, though he said that was manageable in context of strong asset growth.
Craycraft then discussed a recent experience study and actuarial assumption changes, especially a revised salary growth assumption and a higher cash balance interest credit rate. He said these changes increased projected employer costs, with contributions rising from about $700,000 to a projected $2 million in later years, though he expected the eventual 2025 valuation and investment gains to reduce that estimate. Members asked about mortality assumptions, the impact of the experience study on liabilities, and the sharp increase in the judicial plan’s projected employer cost. Craycraft explained that the increase was driven mainly by the updated assumptions and that no other major plan changes were involved.
At the chair’s request, Craycraft also addressed the recent rise in Medicare Advantage premiums for the plan’s health coverage, saying the 2025 increase was largely tied to Part D changes and the Inflation Reduction Act and had been about 45%, but that future growth was expected to be under 5%. After his presentation, the committee moved to the Kentucky Public Pensions Authority update, where the next speaker began by saying the funds had exceeded actuarial assumed returns for the fiscal year.
KY
Kentucky 2026 Regular Session
Medicaid Oversight and Advisory Board (1-12-26)
Transcript Highlights:
- And what's missing for me is we pay a significant amount of money for actuarial studies, but I don't
- see those actuarial studies have a relationship to actual charges that are paid to providers.
- <00:20:51.640>
studies, for actuarial studies, for actuarial studies, but<00:20:53.960> - <00:20:54.760>
studies but I don't see those actuarial studies but I don't see those actuarial - should on an actuarial study, then that should on an actuarial study, then that should include<00
Summary:
The Medicaid Oversight and Advisory Board met on January 12, 2026, to approve the December 10, 2025 minutes and continue finalizing its findings and recommendations. Members reviewed findings on administrative inefficiencies, Medicaid and workforce participation under HR 1, Medicaid budget growth, rural health transformation fund development, and provider tax/state-directed payment changes. The board approved a motion to change “pilot” to “partnership” in the workforce-related recommendation, and also adopted a technical amendment clarifying overlapping HCBS services by removing reference to adult daycare waiver services and revising the language to focus on reducing duplication, simplifying provider contracting, and standardizing processes across programs. A separate technical correction was noted to change “DMS” to “DPH” in the rural health transformation finding, to be handled in the final edits.
Several findings drew discussion but no final substantive vote during the meeting. On the rural health transformation fund, Dr. Berg said Kentucky had done well in federal funding and noted limits on what could be shared publicly, while Commissioner Lee said a public website had been created and recommended the department reference be changed to the Department for Public Health. Finding five prompted extended discussion about provider taxes, state-directed payment reductions under HR 1, and whether the board should address the relationship between actuarial studies, MCO payments, and actual provider reimbursement more directly. Senator Meredith and others argued for a broader, more transparent baseline review of rates across provider groups, while Commissioner Lee said CMS will require certain fee schedule comparisons to Medicare beginning July 1, 2026, and that quarterly expenditure reports already go to LRC.
The board did not finish resolving finding five during the meeting and agreed to return to it after staff prepared more explicit language. Members also discussed the possibility of an all-payers claims database as a better way to understand what is being paid across payers and services. No final vote on the full findings package was taken in the portion of the meeting provided, but the board did adopt the noted amendments and continued working through the remaining language.
HI
Transcript Highlights:
- I'd like, if you can, to elaborate a little bit more on the actuarial study and what this study would
- We look to the experts that do actuarial studies to help us to identify what is needed for the proposal
- <00:23:48.960>
studies to the experts that do actuarial studies to the experts that do actuarial - <00:23:58.440>
study <00:23:59.440>similar analysis on an actuarial study similar analysis - on an actuarial study similar to<00:24:00.159>
what <00:24:00.400>was <00:24:00.640>
FL
Florida 2025 Regular Session
February 4, 2025 - 12:30 PM
Transcript Highlights:
- So, in fact, we are actuarially sound, even a little bit better than actuarially sound, a little bit.
- So in fact, we are actuarially sound even a little bit better than actuarially sound a little bit.
- This year, we need $500 million less to become actuarially sound, but we're not actuarially sound, which
- Have you done any study into that?
- We have not done any study, Representative Kassel.
Summary:
The Insurance and Banking Subcommittee received a lengthy presentation from Citizens Property Insurance Corporation CEO Tim Serio, with Insurance Commissioner Michael Yaworski also answering questions. Serio reviewed Citizens’ role as Florida’s insurer of last resort, its statutory funding structure, eligibility rules, depopulation program, reinsurance obligations, and the surcharge/emergency assessment mechanisms that can be used if Citizens runs a deficit. He emphasized that recent legislative reforms, combined with lower litigation and improved market conditions, have helped the private market recover and reduced Citizens’ policy count from a peak of about 1.41 million in 2023 to 936,182 at the end of 2024, with a projected drop to about 771,000 by the end of 2025. He also said the reforms reduced Citizens’ rate need and helped avoid an emergency assessment after the 2024 storms.
Members asked about Citizens’ rate increases, why Citizens still seeks higher rates despite lower litigation, how the 20% eligibility threshold works, whether Citizens should be wind-only, and whether the state or federal government could help with deficits. Serio explained that Citizens is still charging below actuarially sound rates in most areas, that rate filings reflect reduced litigation and lower reinsurance exposure, and that assessments on all Florida property policyholders are the reason Citizens tries to build surplus and depopulate. He said the depopulation program is working better than in the past, with less than 2% of takeout policies returning to Citizens, and that the Office of Insurance Regulation has been vetting takeout companies more carefully.
A substantial portion of the discussion focused on claims handling after Debby, Helene, and Milton, including flood-versus-wind disputes and Citizens’ use of the Division of Administrative Hearings for some claim disputes. Serio said Citizens had received 76,625 claims from the three storms and had paid nearly $823 million in indemnity and expenses as of January 7, 2025. He said many closed-without-payment claims were either below deductible, withdrawn, duplicate, or flood-only, and that Citizens had asked its internal audit function to independently review the claims data and denials. He also described Citizens’ storm outreach, catastrophe response centers, managed-repair program, and claim review process, and said the corporation remains focused on paying valid claims while minimizing the risk of assessments on the broader Florida market.
AR
Arkansas 2026 1st Special Session
ALC-EXECUTIVE SUBCOMMITTEE Mar 19th, 2026
ALC-EXECUTIVE SUBCOMMITTEE
Transcript Highlights:
- . ...the consultant to assist the members with any legislation that may come out of the study, and the
- You should all have in your packet a copy of an actuarial and consultant services agreement.
- Generally, your actuarial would be a separate entity from the broker or the other person. Yep.
- This will be your own actuary that can give you an independent look at anything that's going to come
- So just wanted to kind of see how that might compare to the other actuarial...
Summary:
The Executive Subcommittee met and first considered a waiver request from the Stuttgart School District to use the TIPS interlocal purchasing system for a turf replacement project instead of a traditional competitive bid. Superintendent Jeff McKinney explained that three bids were received but none fully met the RFP specifications, including warranty and insurance requirements. After review by the district’s architect, the committee approved the waiver request by voice vote.
The committee then approved a consultant services agreement between the Bureau of Legislative Research and Work Ed Consulting to support the Hospital Medicaid Developmental Disability Subcommittee’s study under Act 145. Legislators said the consultant would help develop workforce-system reform legislation for the 2027 session, and noted the firm’s experience in other states. The contract runs through June 30, 2027, with a maximum amount of $158,000, and was approved without opposition.
Next, the committee approved an actuarial and consultant services agreement with Perrin Knight to provide ongoing actuarial support for the state property insurance captive and related legislative oversight work. Bureau staff said the contract would run from April 1 through December 31, 2027, with a maximum amount of $475,000, though only actual hours and travel would be billed. Members asked about budgeting, invoice timing, and overlap with other insurance consultants, and the agreement was approved. Finally, the committee approved using Bureau committee room funds to renovate Committee Room C in the Big Mac Building, citing outdated audiovisual equipment and the need to update the room to match other recent renovations before adjourning.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/18/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- My name is Emily Canuteson, and I'm an actuarial consultant with Via Actuarial Solutions. the coming
- As the LCPR's actuary, we provide independent actuarial advice and another perspective to the LCPR.
- We also reviewed the actuarial experience studies for PERA General and MSRS General and TRA.
- <00:48:42.079>
experience <00:48:42.559>studies the other Actuarial experience studies - the other Actuarial experience studies that<00:48:43.040>
are <00:48:43.200>completed <
TX
Texas 89th Regular
Pensions, Investments & Financial Services Mar 3rd, 2025
Pensions, Investments & Financial Services
Transcript Highlights:
- Has TRS studied the effects of vouchers or ESAs on other states?
- Our actuary and actuaries in general are notoriously conservative in what they So we never assume that
- What that is so so GRS is Gabriel Rotor Smith that is our our actuary that we use use for our actuarial
- There is what Texas statute says is the definition of actuarial soundness and then there's what actuaries
- paying into the system would make it actuarially unsound in your opinion?
MN
Transcript Highlights:
- I also get where there might be some ambiguity when I offered the actuarial study language in the Jobs
- study language in offered the Actuarial study language in the<00:46:35.880>
jobs <00:46:36.240 - Now, again, as the author of that amendment that created the actuarial study, because I was concerned
- /c><00:51:49.359>
concerned Actuarial study because I was concerned Actuarial study because I - Actuarial Actuarial study<01:13:28.000>
but <01:13:28.960>um <01:13:29.960>I <01
Summary:
The Senate Finance Committee held a hearing on the fiscal note process, prompted by concerns raised in a prior hearing about the fiscal note for the Paid Family and Medical Leave law. Chair Marty, Senator Pratt, and Senator Wiklund said the goal was not to revisit the bill itself but to strengthen understanding of fiscal note standards, the role of the Legislative Budget Office (LBO), and communication with agencies. They emphasized bipartisan concern that fiscal notes must be respected and that the process should be clearer going forward.
Christian Larison of the LBO explained that the 2024 fiscal note issues stemmed from three main problems: choosing the proper baseline for a program that had not yet started, interpreting the seven-day qualifying event/waiting period, and determining whether DEED could adjust the first-year premium rate. He said the LBO, DEED, MMB, and House fiscal staff ultimately used the October 2023 actuarial analysis as the baseline because it was the most recent and likely most accurate estimate, but that choice meant the fiscal note did not show the difference from the 2023 enacted budget. He also described how DEED later interpreted the seven-day provision as a waiting period and how the premium-rate assumptions affected the fiscal impact.
Larison outlined possible responses, including more assertive early communication from the LBO, providing more detailed analysis in unusual cases, and possibly creating a working group through the LBO Oversight Commission to consider new standards for substantial assumption changes, complex new programs, and third-party actuarial work. He also noted the LBO has authority to issue unapproved fiscal notes if standards are not met, though it has not used that authority. In questions, Senator Murphy asked about protecting the credibility of fiscal notes, and Larison said maintaining independence, objectivity, and consistent standards is central to the LBO’s role. No votes or formal actions were taken at the hearing.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Elder Affairs Jun 21st, 2026 at 10:00 am
Transcript Highlights:
- and attended the finance and actuarial study webinar a few weeks ago.
- So the first step, as you heard, was the procurement of an actuarial study to model various public and
- I, again, want to thank the chairs for their leadership in securing the funding for that actuarial study
- , which was just... ...leadership in securing the funding for that actuarial study, which was just recently
- study, look at different options, including, as the private... ...the actuarial study, look at different
Summary:
The Aging and Independence/Elder Affairs Committee heard testimony on several bills, with the main focus on H.769/S.468, an act to improve care and prepare for the new era of Alzheimer’s and dementia. Legislators and advocates described the bill’s provisions, including expanded dementia training for first responders, a dementia services coordinator/director in state government, improved hospital discharge and caregiver access protections, dementia care coordination benefits for certain MassHealth members, public awareness and data collection requirements, and expanded support for geriatric workforce recruitment. Representative Danielle Gregoire and Senator Gomez framed the measure as a zero-cost, bipartisan continuation of the 2018 Alzheimer’s and Dementia Act, while the Alzheimer’s Association, Boston Public Health Commission, police representatives, clinicians, and family caregivers all testified in support, emphasizing public health needs, early diagnosis, caregiver involvement, and safer emergency and hospital care.
The committee also heard testimony on H.796/S.476, which would establish an Office of Older Adult Advocate and a special commission on a statewide long-term services and supports benefit program. Representative Steve Ultrino supported an independent older adult advocate to help navigate fragmented state services and improve constituent services, while committee members asked about funding and the office’s relationship to existing secretariats. On the long-term care commission bill, NAFA Massachusetts and LeadingAge Massachusetts supported creating a stakeholder commission to review actuarial findings and explore public-private financing options for long-term care, stressing that neither public nor private coverage alone is sufficient and that middle-income families need more planning tools and options.
The committee also took testimony on H.786/S.466, a bill to protect vulnerable elders by expanding the Executive Office of Elder Affairs’ authority to investigate abuse or neglect in non-traditional custodial settings such as prisons, jails, shelters, group homes, and certain treatment facilities. Prisoners Legal Services said the bill would close a jurisdictional gap that leaves some older adults without an investigative agency once they age out of DPPC coverage. No votes were taken during the hearing, and the meeting ended with a motion to adjourn.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy May 19th, 2026 at 12:20 pm
Select Committee on Pension Policy
Transcript Highlights:
- The complaint does claim that the pension board's study of the medical benefit liability study should
- Actually, I love— Actuarial update. Michael. Michael Harbour: Thank you, Mr.
- Is there anything on the Plan 3 study that we can be doing?
- The left two board is—are they named in the study?
- There's essentially two study requirements.
Summary:
The Executive Committee approved the April minutes by roll call vote, with members present voting aye and the minutes adopted. Staff then provided an Attorney General update on pension-related litigation, including the newly filed Dawson class action challenging Gross Second Substitute House Bill 2034, the concluded Dolan case, and the Fowler case, where the trial court orally ruled for plaintiffs on interest calculations and potential disgorgement of state gains, with a written ruling still pending. Committee members emphasized the need for ongoing monitoring and regular reporting on the Dawson case because of its potential impact on the committee and retirement systems.
An actuarial update followed, noting that June will include the preliminary 2025 valuation results and contribution-rate information, along with commentary on the demographic experience study. Staff said actuarial resources are limited and asked that any additional actuarial agenda items be scheduled for July or later. The committee also discussed the draft interim work plan and agreed to move the OSA annual update to July.
A substantial portion of the meeting focused on Plan 1 COLA policy. Retiree representatives urged the committee to keep working on both immediate ad hoc COLA relief and a longer-term ongoing COLA solution. Members discussed a possible budget proviso requiring legislators to consider a COLA each budget cycle, and staff was asked to develop proposals for further discussion. The committee also agreed to add a June briefing on the PERS/PEACERS request involving animal control technicians, and to include an introductory Plan 3 briefing, with possible comparison to Plan 2, on the June agenda. Staff also explained changes to correspondence handling, including removing letters from the public website to better protect privacy while still making records available upon request. The committee approved the revised June agenda and adjourned.
ND
North Dakota 2025-2026 Regular Session
Employee Benefits Programs Committee May 7th, 2026
Transcript Highlights:
- There was also a study done just this last year for the Department of Human Services.
- It has no actuarial effect on the state because it comes out of the individual's pockets.
- We're deciding if it's an actuarial... ...of it, but that's not what we're deciding.
- We also did actuarial analysis.
- Seems like this sort of change will have an actuarial impact.
Summary:
The Employee Benefits Committee met to approve prior minutes, hear presentations on state employee health insurance, compensation, leave, and related policy issues, and then recess for lunch. PERS reviewed the history and structure of the state health plan, noting the long-standing state-paid family coverage, cost-control measures, wellness incentives, the current grandfathered PPO and high-deductible options, and the effects of recent benefit mandates such as insulin caps, prosthetic coverage, medication management, prescription copay changes, and ambulance balance-billing limits. Committee members questioned the fiscal impact of adding benefits and the possible cost of moving to a non-grandfathered plan, while PERS and HRMS emphasized that health insurance remains the top-ranked employee benefit and that any major plan changes should be considered carefully. HRMS also presented compensation comparisons showing state pay generally below private-market benchmarks, discussed targeted market equity adjustments, identified ongoing recruitment and retention concerns in fields like nursing, IT, engineering, and attorneys, and reviewed leave policies, tuition reimbursement, and family leave comparisons with neighboring states. Job Service provided labor market data showing low unemployment, high labor force participation, and wage growth that still trails some neighboring markets, and OMB explained that prevailing wage requirements apply to federally funded projects under Davis-Bacon, not to ordinary state contracts.
After lunch, the committee took up the required process for health insurance mandate bills and adopted an amendment to Joint Rule 211. The amendment clarified that the deadline for submitting mandate measures is intended to allow time for all required reports, including both the cost-benefit analysis and any Employee Benefits Committee actuarial report, while leaving the existing deadline unchanged. The amendment was adopted on a roll call vote, with several members voting yes and a few no votes recorded. The committee then moved into its jurisdiction review of bill drafts, beginning with a bill that would automatically renew pre-tax dental and vision elections; members debated whether it had any actuarial or administrative impact on PERS or the state, and the chair explained that the committee’s role was only to decide whether further analysis was needed before later testimony and recommendations.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 16th, 2026
Select Committee on Pension Policy
Transcript Highlights:
- Sarah Baker, actuarial update. Sure. Sarah Baker, actuarial update. Thank you, Chair.
- Membership and study goals or direction. So does that help? It does.
- The LEOFF 2 Board last year studied this topic.
- And you might not have actuarial numbers at this...
- We're bringing a proposal, a study session on the ad hoc...
Summary:
The executive committee approved the May minutes by roll call vote, then received an actuarial update from Sarah Baker of the State Actuary’s Office. Baker explained the office’s annual work, including the DRS pension actuarial evaluation, support for state financial reporting, cash flow analysis, a six-year pension contribution outlook, interim support for GIT and WAL CARES, and an upcoming actuarial evaluation of the volunteer firefighters pension plan. She also responded to questions about bills allowing members to transfer into PERS, noting that such transfers have historically increased PERS costs and that any added cost would be borne by PERS members and employers depending on bill structure and affected demographics.
Kate Adams of the Attorney General’s office reported no new developments in the cases the committee is monitoring. She said the Dawson case is still in its early stages, with a judge assigned and a discovery plan due at the end of July. The committee asked for continued updates on that litigation.
The committee then discussed interim work planning, focusing first on animal control officers’ eligibility for PERS and asking staff to continue researching definitions, comparable treatment in nearby states, and the cost and service-credit implications for affected employees. Members also discussed Plan 3 issues, including comparisons of Plan 2 and Plan 3 membership and data, and possible future briefing topics. The largest discussion centered on Plan 1 COLAs: members and retiree representatives debated whether to pursue a permanent COLA or an ad hoc COLA, and whether budget language should require future budget writers to consider a COLA. Retiree groups said they preferred a permanent COLA but were open to further discussion; staff was asked to continue work on possible language and policy options.
The committee reviewed correspondence on four topics: Plan 1 COLA requests, a request to study LEOFF 2-style medical reimbursements for Washington State Patrol survivors, and a request to allow certain members to change survivor option elections after the federal Social Security Fairness Act. The committee agreed to bring the State Patrol medical reimbursement issue and the Social Security Fairness Act issue back for July, with staff to gather more information and provide an informational briefing. The July agenda was approved and includes the OSA annual update, the LEOFF 2 Board annual update, a PERS/TRS Plan 1 ad hoc COLA item, and the two survivor-related topics.
NH
Transcript Highlights:
- interim studies say I. I. interim studies say I. I.
- actuarial methodology that is used. actuarial methodology that is used.
- held in reserves in case the actuaries held in reserves in case the actuaries uh<01:34:51.440>
- they're one of the premier actuarial they're one of the premier actuarial firms<01:44:50.400>
- , qualified actuaries.
- they're one of the premier actuarial they're one of the premier actuarial firms<01:44:50.400>
ND
North Dakota 2026 1st Special Session
Employee Benefits Programs Committee May 7th, 2026 at 10:00 am
Employee Benefits Programs Committee
Transcript Highlights:
- There was also a study done just this last year for the Department of Human Services.
- We're deciding if it's an actuarial.
- We're deciding if it's an actuarial. ...of it, but that's not what we're deciding.
- We also did actuarial analysis.
- It seems like this sort of change will have an actuarial impact.
AR
Transcript Highlights:
- You should all have in your packet a copy of an actuarial and consultant services agreement.
- Generally, your actuarial would be a separate entity from the broker or the other person. Yep.
- This will be your own actuary that can give you an independent look at anything that's going to come
- I guess my question was looking at what we were compensating actuarial advantage in terms of...
- So just wanted to kind of see how that might compare to the other actuary service that we've already
Summary:
The Executive Subcommittee met and first considered a waiver request from the Stuttgart School District to use the TIPS interlocal purchasing system for a turf replacement project instead of the traditional competitive bid process. Superintendent Jeff McKinney explained that three bids were received but none fully met the RFP specifications, including warranty and insurance requirements. He said the district, with its architect’s guidance, determined that United Turf and Track was the best option because it met the 10-year warranty requirement, had resolved the insurance issue, had prior experience with the district, and could complete the work in time for summer installation. The committee approved the waiver request.
Members then approved a consultant services agreement between the Bureau of Legislative Research and WorkEd Consulting for work related to the workforce system study and potential legislation for the 2027 session. Senator Jane English and Representative Mary Bentley said the consultant would help the legislature develop reforms after prior audit findings showed the current workforce system was inefficient and ineffective. They noted WorkEd’s experience in other states, including Louisiana, West Virginia, Mississippi, and Virginia, and explained that some subcontractors would include people who had worked on the earlier Georgia Center for Opportunity study. The contract was approved.
The committee also approved a renewed actuarial and consultant services agreement with Perrin Knight for services related to the state’s new property insurance captive. Jill Thayer said the contract would provide independent actuarial support to legislative subcommittees, especially the State Insurance Properties Oversight Subcommittee, with services billed only as used. Members asked about budgeting, frequency of work, and overlap with existing executive branch contractors; Thayer and Senator Goodmore said the service had been anticipated from the start and would be separate and independent. Finally, Marty Garrity requested use of committee room funds to renovate Committee Room C in the Big Mac Building because its audio-visual equipment is outdated. That request was approved, and the meeting adjourned.
TX
Texas 89th 2nd C.S.
Health Care Affordability, Select May 1st, 2026
Health Care Affordability, Select
Transcript Highlights:
- But stepping into actuarial land here, you know, most actuaries tell me that the difference in costs
- Yes, there's actually a growing number of studies. I can forward this.
- Well, that would be good to see what studies you have and what studies you have.
- I'm going to ask the actuary, does that count as a loss?
- I'm also a health care actuary. So I'll start with...
ND
North Dakota 2026 1st Special Session
Employee Benefits Programs Committee May 7th, 2026
Employee Benefits Programs Committee
Transcript Highlights:
- If there ever was a time to study total reward, Are concerned just in general.
- There was also a study done just this last year for the Department of Human Services.
- We share it with both the actuarial consultant of this bill.
- We also did actuarial analysis.
- Seems like this sort of change will have an actuarial impact.
Summary:
The Employee Benefits Committee met to hear presentations on state employee health insurance, compensation, leave policies, labor market conditions, and prevailing wage issues, then later took up committee rules and bill-draft jurisdiction. PERS reviewed the history and structure of the state health plan, noting the state has paid the full family premium since 1979, described cost-control and benefit-enhancement changes over time, and explained current plan options, wellness incentives, employer wellness discounts, and the upcoming bid process for the 2027-29 contract. HRMS then presented compensation comparisons showing state classified pay generally trails private and regional markets, with larger gaps at higher-level jobs, and reviewed benefits and leave policies, including the new enhanced annual leave and new-hire leave, the state’s unpaid family leave structure, and varying tuition reimbursement practices. Job Service reported on labor force trends, low unemployment, high labor force participation, job openings, and wage growth, and OMB said there are no state prevailing-wage requirements beyond federal Davis-Bacon rules for federally funded projects.
The committee then considered a proposed amendment to Joint Rule 211 to better align the health insurance mandate review process with recent statutory changes. Members discussed how the rule should reference both the committee’s required actuarial reports and the Legislative Council cost-benefit analysis, and the amendment was adopted on a roll call vote. The committee also discussed how its jurisdiction decisions affect whether a bill draft receives actuarial analysis, with staff explaining that a decision not to take jurisdiction means the bill is not treated as impacting the relevant retirement or health plans for purposes of that analysis.
After that, the committee began reviewing bill drafts for jurisdiction. The first draft, bill draft 33, would automatically renew pre-tax elections for dental and vision coverage during open enrollment instead of requiring annual re-election. Members debated whether it had any actuarial impact, noting the state does not pay those premiums directly, and the discussion was still underway when the transcript ended.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy May 19th, 2026
Select Committee on Pension Policy
Transcript Highlights:
- The complaint does claim that the pension board's study of the medical benefit liability study should
- Actually, I love— Actuarial update. Michael. Michael Harbor: Thank you, Mr. Chair.
- Is there anything on the Plan 3 study that we can be doing?
- The left two board is... are they named in the study?
- There's essentially two study requirements.
Summary:
The Executive Committee approved the April minutes by roll call vote, with members present voting aye and the minutes adopted. The committee then received an Attorney General update on several pension-related cases. Counsel discussed the newly filed Dawson class action, which seeks to invalidate Gross Second Substitute House Bill 2034 on federal and state constitutional grounds; she said the pleadings were unclear, the committee’s involvement was uncertain, and the case would need monitoring. She also reported that the Dolan case appears concluded after the Court of Appeals upheld the trial court’s ruling on constructive payment of attorney fees, and that the Fowler case remains pending after an oral ruling for plaintiffs on retroactive interest and possible disgorgement of state gains, with a written ruling still awaited.
The actuarial update said June would include the preliminary 2025 valuation results and contribution-rate discussion, along with commentary on the demographic experience study, and staff noted actuarial resources were limited for additional items until later in the summer or fall. The committee then discussed the interim work plan and correspondence, including letters supporting a Plan 1 COLA recommendation, retiree organization comments, and a request from Senator Robinson to study whether certain animal control technicians should be included in PERS. Members emphasized the need to keep working on an ad hoc COLA for Plan 1 retirees while also exploring a longer-term COLA mechanism, including possible budget proviso language to require COLA consideration each budget cycle.
Staff also explained changes to correspondence handling: materials will no longer be posted publicly on the website, but will still be available through public records requests and distributed securely to members by email or form submission. The committee agreed to add a June briefing on the PERS animal control technician issue and an introductory discussion of Plan 3, and to bring back COLA proposals in July for further executive committee review. The agenda was approved as amended, and the meeting adjourned.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 16th, 2026 at 12:40 pm
Select Committee on Pension Policy
Transcript Highlights:
- Sarah Baker, actuarial update. Sarah Baker, actuarial update. Thank you, Chair.
- Membership and study goals or direction. So does that help? It does.
- Do you, and you might not have actuarial numbers at this... Capped?
- Do you, and you might not have actuarial numbers at this point in time.
- We're bringing a proposal, a study session on the ad hoc...
NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Oct 9th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- From what the actuaries have told me—and I'm not an actuary; I do not speak, but I listen to them—they're
- ERB is doing an actuarial evaluation. They work with GRS.
- They're getting actuarial numbers every year.
- Same studies, virtually identical.
- Madam Chair, Senator Gonzales [ID: member_13638], this is the actuarial study as of last year.