Video & Transcript : 'actuarial valuation' :

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WA

Washington 2025-2026 Regular Session

Senate Ways & Means Feb 26th, 2026 at 01:30 pm

Ways & Means

Transcript Highlights:
  • As of the 2024 actuarial valuation, LEOFF Plan 1 is 160% funded, with surplus assets of nearly $2.5 billion
  • The newly created restated LEOFF system is funded on June 30, 2029, with 110% of the actuarial value
  • of the LEOFF Plan 1 benefits, as determined by the Office of the State Actuary.
  • Even if actuarially projected as overfunded, that surplus is built on long-term assumptions.
  • The state treasurer and the state actuary have issued warnings regarding pension investments.
Committee: Senate Ways & Means
NH

New Hampshire 2025 Regular Session

House Finance Division I (03/19/2025)

Transcript Highlights:
  • Well, we asked the actuary I'm sorry.
  • ><c> that</c><00:14:01.600><c> the</c><00:14:01.839><c> actuary</c> report yesterday that the actuary
  • actuarial evaluation.
  • </c> unfunded because the actual valuation unfunded because the actual valuation took<00:33:47.360><c
  • ><c> for</c> actuarial actuarial assumptions used for actuarial actuarial assumptions used for the<00
Summary: The committee reviewed a handout comparing House Bill 2 to current retirement law and walked through the bill section by section with staff from the retirement system. The discussion focused on vesting, earnable compensation, average final compensation, compensation-over-base limits, special duty pay, normal retirement age, re-retirement, and maximum benefit rules for Group 2/Tier B members. Staff explained that some provisions would restore pre-2011 rules, including counting certain end-of-career payments such as unused sick and vacation time in earnable compensation and reducing the AFC averaging period from five years back to three. They also described how the bill would eliminate the current cap on compensation over base, which mainly affects overtime, and noted that the actuarial cost of the AFC-related changes is interrelated rather than easily broken out by feature. A separate discussion covered the special duty pay limitation, which currently applies to Tier A and would be removed under the governor’s bill for both Tier A and Tier B members after their vested buy date. Staff said the actuary estimated that removing the special duty limitation would increase costs by about $13.9 million. Members also asked about the practical difference between overtime and special duty, with staff explaining that special duty generally involves work for a private third party, often police detail work, while overtime depends more on staffing and scheduling. The committee also reviewed the normal retirement age changes for Tier B and the possibility that some members would need to work longer to reach the new vested buy date. Members raised concerns about an ambiguity in the bill that could allow already-retired Tier B members to return to work, then re-retire and claim the higher benefits, or allow vested deferred members to stop working and wait for the new vested buy date. Staff said the governor’s office did not intend to allow that result and requested clarifying language, noting that the bill as drafted does not expressly prohibit it. The committee also discussed part-time and seasonal work after retirement, with staff explaining that such work generally does not restore membership unless the person takes a full-time position requiring enrollment. Finally, the committee reviewed the maximum benefit provisions and noted that HB 2 in the current year does not change the maximum benefit date or include the 1.5% annual escalator that had been part of the 2023 proposal, making the current bill more costly than the earlier version.
NM

New Mexico 2026 Regular Session

House - Appropriations and Finance Jan 15th, 2026 at 01:32 pm

House Appropriations & Finance

Transcript Highlights:
  • 18 25 representing actual costs and Fiscal Years 26 and 27 representing projected costs from our actuarial
  • current projections that we do look at, they don't typically like to go beyond 30 years as far as our actuaries
  • Our unfunded liability is currently at 9.7 billion, and our actuarial Accrued liability, the promises
  • a committee and are meeting with our auditor, and we now have approval of a process to use land valuation
  • So, through our actuary and through forecasting, we come to the legislature every year with an ask, which
TX

Texas 89th Regular

Appropriations - S/C on Articles I, IV, & V Feb 25th, 2025

Appropriations - S/C on Articles I, IV, & V

Transcript Highlights:
  • It is, according to your actual, very actuarial valuation report, the best pension system system, but
TX

Texas 89th Regular

89th Legislative Session May 20th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Have you done an actuarial review of what this additional amount, and how it will impact our cities and
  • No, ma'am, I have not done an actuarial review.
  • Okay, so we're clear—it doesn't affect valuation or appraisals, does it? That is correct.
  • Not the valuations. Everybody likes their home to be worth a lot. It's the rate.
  • This group will provide strategic guidance on asset valuation and investment policy to ensure that the
MN

Minnesota 2025-2026 Regular Session

Committee on Health and Human Services - 03/10/26

Health and Human Services

Transcript Highlights:
  • Next reason is that the contracting rules under CMS requirements require actuarial soundness for rates
  • that the contracting rules under CMS requirements<00:03:50.720><c> require</c><00:03:51.280><c> actuarial
  • </c><00:03:52.080><c> soundness</c> requirements require actuarial soundness requirements require actuarial
  • to the actuarial soundness of rates<00:13:59.920><c> that</c><00:14:00.399><c> an</c><00:14:00.639><
  • over a relatively short higher valuation over a relatively short time<01:18:10.400><c> period.
ND

North Dakota 2025-2026 Regular Session

Tribal and State Relations Committee May 13th, 2026

Transcript Highlights:
  • We use valuation guides... We try to be as fair as we can through that process.
  • We use valuation guides, comparable sales, and the like.
  • Section 71118 from H.R. 1 Section 71118 from H.R. 1 made a change to require the CMS Office of the Actuary
  • take additional team members and we would need to get an external evaluator and probably additional actuarial
  • take additional team members and we would need to get an external evaluator and probably additional actuarial
Summary: The committee met at Spirit Lake Tribe and first heard welcoming remarks and introductions from tribal leaders and program directors. Chairwoman Street and other tribal representatives outlined a range of concerns and requests for state action, including taxation of reservation lands, support for non-beneficiary students at the tribal school, homelessness funding, Indian-managed health care, gaming and e-tabs, Feather Alert improvements, industrial farming near waterways, tourism, and better state-tribal consultation. Committee members responded that the meeting was intended to improve understanding and communication, and several members suggested future legislation or resolutions could be used to advance some of the issues. The tribe also offered to provide training on treaties, IHS 638, and compact services to legislators and staff. A major portion of the discussion focused on Spirit Lake fish and wildlife jurisdiction and the lake boundary. Tribal representatives asked for an MOU or co-stewardship agreement with the state to clarify hunting and fishing rights, recognize tribal licenses, and reduce recurring disputes over “gray areas” on the reservation and lake. Committee members discussed whether to draft a bill or resolution directing the executive branch and state agencies to negotiate such an agreement, and asked that North Dakota Game and Fish be invited to a future meeting. Related concerns included aquatic nuisance species prevention, with both sides agreeing that more aggressive boat inspection and cleaning measures would be beneficial. The committee also discussed taxation and county relations. Tribal leaders raised concerns about county resistance to fee-to-trust transfers and about property and vehicle taxation affecting members living on or near reservation lands. Committee members and tribal counsel reviewed federal treaty principles and court cases, and one member noted that the committee had previously taken no formal action on similar issues. Later, Benson County’s tax equalization director explained how the county values taxable land, handles inundated land applications, and tracks land coming off the tax rolls when the tribe repurchases acreage. The discussion ended with a presentation from the president of Sisseton Wahpeton College, who described the college’s programs, economic impact, and funding needs, followed by an HHS presentation on 1115 Medicaid waivers and the IMD exclusion as the committee moved to its next topic.
NM

New Mexico 2025 Regular Session

IC - Water and Natural Resources Jul 2nd, 2025

Water & Natural Resources Committee

Transcript Highlights:
  • And then questions to that: we need some more actuarial information.
  • We need actuarially justified premium rates.
  • The The insurance code requires residual market rates to be actuarially set with actually sound rates
  • So, in regards to actuarial information and as it can expand this conversation, so I guess this goes
  • So we have been speaking with the chief actuary in regards to where the rates should be and that is a
FL

Florida 2025 Regular Session

September 23, 2025 - 09:00 AM

Transcript Highlights:
  • That bill, that staff analysis, is based on an actuarial study to say, here's what we need to do in adjusting
  • So while we have seen increases in our valuations and we have seen increases in the revenues that we
  • behalf of all of our employees, and that's a variable rate depending on what is decided from an actuarial
  • Of all of our employees, and that's a variable rate depending on what is decided from an actuarial perspective
  • So is their valuation done differently than those who are not in an affordable rent-mitigated situation
Summary: The Select Committee on Property Taxes heard first from city representatives through the Florida League of Cities, who argued that property taxes are a stable local revenue source that funds core services such as police, fire, parks, public works, and stormwater work. Casey Cook emphasized that cities are optional governments with widely different tax bases and service levels, that exemptions shift the burden to fewer taxpayers, and that transparency already exists through TRIM notices, public budgets, and local hearings. Sarah Campbell of Fernandina Beach, T. Michael Stavris of Winter Haven, and Stephen O’Kee of Port St. Lucie described their budget processes, the share of general-fund revenue coming from property taxes, reserve policies, debt and capital planning, and the impact of inflation, minimum wage increases, and personnel costs. They all said local governments need predictable revenue and that any property tax changes would require careful consideration of replacement funding or service reductions. Members questioned the city panel about whether homebuyers are clearly informed about city versus county taxes and services, the role of HOAs, how many lobbyists cities employ, reserve levels, average salaries, and whether utility revenues are used only for utility purposes. The panel said TRIM notices, realtor listings, and city websites provide tax information; HOAs generally do not provide emergency services; lobbyists help local governments track Tallahassee legislation; reserves vary by city and fund; and utility revenues are generally restricted, though some cities use limited transfers. Members also asked about revenue replacement if ad valorem taxes were reduced or eliminated, and the panel said options would likely include user fees, service cuts, or other local revenue shifts. The chair also asked about public safety consolidation, and the response was that such decisions are local and may shift costs rather than create true savings. The committee then heard from county representatives after an overview by the Florida Association of Counties’ Davin Suggs, who framed counties as shared partners with the state and emphasized the gap between rising market values and the shrinking share of taxable value after exemptions and assessment limits. He said counties face a mismatch between revenue based on taxable value and expenses driven by real-world costs, and noted that most counties either held millage steady or lowered it without reaching rollback rates. He also highlighted that property taxes are only one part of county revenue, with charges for services and intergovernmental revenue often larger in some counties, and that public safety at the county level includes more than law enforcement, such as EMS, emergency management, inspections, and corrections. Deborah Manzo of Okeechobee County described a fiscally constrained rural county with limited staff, a county-supported airport, heavy reliance on property taxes for the general fund, and major cost pressures from inflation, insurance, retirement, and state and federal mandates. She said the county lowered millage slightly over recent years but still depends on multiple revenue sources and special assessments, and she flagged Medicaid, medical examiner costs, and possible firefighter workweek changes as significant concerns. Bay County Administrator Mark McQueen said his county’s budget is shaped by Hurricane Michael recovery, non-discretionary obligations, and rapid growth; he described ongoing FEMA reimbursement delays, substantial borrowing to cover disaster costs, and continuing interest expenses while the county waits for reimbursement. The county panel was still in progress when the transcript ended.
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Mar 26th, 2026 at 12:10 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • couple twice in this hypothetical Couple, why would they not take advantage of the senior property valuation
  • The property valuation itself is 7 times more over that time frame.
  • are substantial improvements to a house, such as homes being added onto, they can get a reassessed valuation
  • When their taxing jurisdictions come back next year and receive their excise reports and see valuations
  • The OHCA doesn't have its own actuarials, so I think sometimes they get their fiscal impact after we
LA

Louisiana 2026 Regular Session

Health and Welfare Mar 18th, 2026

Health and Welfare

Transcript Highlights:
  • Tell me about PBM, the publicly traded ones, and their valuations.
  • But did you use simple math on that or do you actuarial math?
  • Our actuaries, who are professional actuaries, did look at it and did make those calculations.
  • But did you use simple math on that or do you actuarial math?
  • Our actuaries who are professional actuaries did look at it and did make those calculations.
Summary: The committee first adopted the minutes from several prior 2025 meetings, then took up HB 574 by Rep. Spell, which updates the names of two organizations on the Mental Health Advocacy Service Board of Trustees. Rep. Spell explained it as a technical cleanup bill to correct the names of the Louisiana Mental Health Association and the Louisiana State Medical Society so the board’s membership records match current organization names. With no objections, HB 574 was reported favorably. The committee then heard HB 486, also by Rep. Spell, to join the Psychology Interjurisdictional Compact (PsyPact) and allow Louisiana psychologists to provide telepsychology and temporary in-person services across state lines. Rep. Spell and PsyPact representatives said the compact would expand access to mental health care, especially in rural areas, while maintaining standards and disciplinary oversight. The committee adopted amendments on fees and the effective date, and HB 486 was reported favorably with amendments. HB 198 by Rep. Eccles proposed a Medicaid reimbursement methodology for ambulatory surgical centers, using a Medicare-based rate to improve access for Medicaid patients needing specialty procedures. Amendments were adopted to add ophthalmology-related services and to cap reimbursement at the lesser of the outpatient hospital rate or 100% of the Medicaid rate, along with a technical amendment to address the fiscal note. Supporters from GI and ASC groups said the bill would improve access and lower long-term costs, and the bill was reported favorably with amendments. The committee spent the most time on HB 182 by Rep. Travis Johnson, which would require hospitals to ensure access to sexual assault forensic exams and related training. Johnson, law enforcement witnesses, and the Attorney General’s office emphasized the need for timely evidence collection, especially in rural areas, and said the current system leaves victims traveling long distances or losing evidence. Hospital and coroner witnesses supported the goal but opposed the bill as written, arguing it could impose duties on hospitals without enough trained personnel, funding, or a workable statewide training and coordination system; they urged a statewide coordinator, mobile SANE units, and clearer implementation. The bill was not finally disposed of in the portion of the meeting provided, and members discussed continuing to work on amendments and timing before floor consideration.
LA

Louisiana 2026 Regular Session

Health and Welfare Mar 18th, 2026

Health and Welfare

Transcript Highlights:
  • Tell me about PBM, the publicly traded ones, and their valuations.
  • But did you use simple math on that, or do you use actuarial math?
  • Our actuaries, who are professional actuaries, did look at it and did make those calculations.
  • But did you use simple math on that or do you actuarial math?
  • Our actuaries who are professional actuaries did look at it and did make those calculations.
Bills: HB62 , HB124 , HB182 , HB193 , HB198 , HB203 , HB223 , HB237 , HB469 , HB486 , HB574 , HB779 , HB796 , HB919 , SCR2 , SB4 , SB36 , SB38 , SB109 , SB152 , SB168 , SB195 , SB216 , SB221 , SB236 , SB404
WA

Washington 2025-2026 Regular Session

Senate Labor & Commerce Jan 23rd, 2026 at 08:00 am

Labor & Commerce

Transcript Highlights:
  • actuaries was indicated to be a 13% increase.
  • rate from our actuaries was indicated to be 13% increase.
  • We have actuaries there that are doing all this analysis. Yes. Thank you. Thank you.
  • However, the actuarial rate, the rate used to keep the system fully solvent, would have been 13%.
  • It requires ESD to set the premium rate based on the Office of Actuarial Services Annual Report.
CO

Colorado 2026 Regular Session

Colorado Senate 2026 Legislative Day 048 Mar 3rd, 2026

Colorado Senate Floor Meeting

Transcript Highlights:
  • accounting, pension<02:46:39.359><c> administration</c><02:46:40.000><c> or</c><02:46:40.240><c> actuarial
  • </c> pension administration or actuarial pension administration or actuarial analysis<02:46:41.600><c
  • It is because private equity's valuation and their monitoring are different than our global equity.
  • ><c> and</c><02:48:16.080><c> their</c><02:48:16.399><c> monitoring</c><02:48:16.960><c> are</c> valuation
  • uh and their monitoring are valuation uh and their monitoring are different<02:48:17.600><c> than</c
US
Bills: SB244 , SB28 , SB289 , SB323 , SB389 , SB414 , SB428 , SB433 , SB582 , SB613 , SB759 , SB792 , SB841 , SB843 , SB97
Summary: The Senate Committee on Commerce, Science, and Transportation held an important meeting where they discussed various bills aimed at addressing pressing issues like consumer protection, technology, and environmental management. Chairman Cruz opened the meeting by emphasizing the role of subpoenas in ensuring accountability and oversight, highlighting a recent compliance from several parties following such threats. The meeting progressed to consider several bills, including the Romance Scam Prevention Act championed by Senator Blackburn, which seeks to protect vulnerable populations from online dating scams that have resulted in enormous financial losses, particularly among seniors. The committee also nominated Michael Kratios for the Office of Science and Technology Policy and Mark Medder for the Federal Trade Commission, underscoring the significance of leadership in fostering innovation and consumer protection in technology sectors.
LA

Louisiana 2026 Regular Session

House of Representatives Mar 25th, 2026

Louisiana House Floor Meeting

Transcript Highlights:
  • Louisiana State Police Retirement System, determination of contributions, amortization of certain actuarial
  • House Bill 825 by Representative Brob, stated value policies, to clarify valuation standards, notices
Bills: HR65 , HR66 , HR67 , HR68 , HR69 , HCR33 , HCR34 , HB1006 , HB1007 , HB1008 , HB1010 , HB1011 , HR58 , HR59 , HR60 , HR61 , HR62 , HR63 , HR64 , HCR32 , SCR2 , SCR5 , SCR6 , SCR11 , SCR16 , SCR17 , HB43 , HB447 , HB573 , HB1000 , HB1001 , HB1002 , HB1003 , HB1004 , HB1005 , SB8 , SB10 , SB12 , SB16 , SB20 , SB21 , SB22 , SB29 , SB32 , SB41 , SB42 , SB44 , SB49 , SB58 , SB68 , SB75 , SB77 , SB81 , SB97 , SB103 , SB159 , SB163 , SB172 , SB180 , SB182 , SB244 , SB248 , SB253 , SB254 , SB279 , SB306 , SB318 , SB334 , SB380 , SB385 , SB397 , HB53 , HB57 , HB64 , HB100 , HB102 , HB106 , HB111 , HB137 , HB152 , HB155 , HB177 , HB238 , HB256 , HB258 , HB272 , HB337 , HB350 , HB359 , HB363 , HB386 , HB434 , HB445 , HB546 , HB557 , HB584 , HB661 , HB697 , HB726 , HB727 , HB747 , HB752 , HB756 , HB758 , HB759 , HB765 , HB767 , HB825 , HB858 , HB930 , HB941 , HB957 , HB964 , HB203 , HB228 , HB234 , HB260 , HB268 , HB271 , HB285 , HB289 , HB351 , HB400 , HB413 , HB469 , HB534 , HB551 , HB552 , HB574 , HB576 , HB634 , HB649 , HB677 , HB735 , HB739 , HB779 , HB784 , HB796 , HB842 , HB850 , HB919 , HB8 , HB9 , HB10 , HB15 , HB16 , HB17 , HB18 , HB19 , HB22 , HB33 , HB34 , HB35 , HB44 , HB46 , HB47 , HB48 , HB61 , HB101 , HB126 , HB135 , HB142 , HB164 , HB185 , HB215 , HB226 , HB232 , HB233 , HB242 , HB284 , HB292 , HB297 , HB301 , HB334 , HB436 , HB468 , HB548 , HB571 , HB582 , HB593 , HB594 , HB609 , HB613 , HB712 , HB722 , HB732 , HB746 , HB827 , HB845 , HB848 , HB921 , HB923 , HB951 , HB953 , HB999 , HB733 , HB875 , HB952 , HB868 , HB119 , HB140 , HB52 , HB901 , HB193 , HB570
Summary: The House convened with a quorum, opened with prayer and the Pledge of Allegiance, and then spent much of the morning on personal privileges recognizing guests and honoring individuals and organizations. Recognitions included the Zachary High School girls’ and boys’ basketball teams for back-to-back state championships, Zeta Phi Beta Sorority and Phi Beta Sigma Fraternity for Blue and White Day, visitors from Natchitoches Parish, the Louisiana Community and Technical College System, the Parish Presidents Association, Crime Stoppers of Greater New Orleans, student parents pursuing higher education, and a delegation from Alexandria honoring the late Dr. Joe S. Green. The House also adopted or laid over several condolence and commendation resolutions, including tributes to former Northwestern State football coach Sam Goodwin, Michael B. Jordan, Richard Williams, and others. The chamber received a large batch of Senate bills and House bills for referral, covering topics such as retirement systems, highway memorial designations, criminal justice, education, health and welfare, municipal governance, insurance, natural resources, and tax policy. Committee reports were read across multiple committees, with many bills reported favorably or with amendments, and several measures advanced to third reading or were recommitted to other committees. Among the actions taken, the House adopted resolutions honoring community figures and organizations, concurred in several Senate resolutions, and moved a number of bills forward, including measures on criminal penalties, school policy, environmental regulation, insurance, and public retirement. Near the end of the session, the Speaker outlined plans for the next day’s floor debate, noting 54 bills scheduled and explaining that questions on bills would send them to the bottom of the list rather than removing them. The House then recessed until 3:30 p.m., with members instructed to return for regular order and continued debate on the calendar.
TX

Texas 89th Regular

Appropriations - S/C on Articles I, IV, & V Feb 24th, 2025

Appropriations - S/C on Articles I, IV, & V

Transcript Highlights:
  • The information there is based on the 2024 valuation. there is perhaps the most critical and that is
  • Can we back up to page 8 under the actuarial evaluation summary, and under the list of primary reasons
  • My name is Mark Finlower, and I'm with Rudd and Wisdom Consulting Actuaries, and our firm provides the
  • actuarial services for the system.
  • During my terms on the board from 1989 to 2001, The retirement system was actuarially sound and able