Transcript Highlights:

• We're finding that the disability waiver rate system inflationary adjustments set to occur in 2026 and
• In addition to those inflationary adjustments, we're also seeing a growth in the number of people that
• set to occur in inflationary adjustments set to occur in 2628<00:10:05.120> are<00:10:05.360>
• <00:21:41.960> to we'll have we'll make an adjustment to we'll have we'll make an adjustment
• <00:43:00.040> the maybe we have to adjust the maybe we have to adjust the qualifications<

Keywords: 1183, house

Transcript Highlights:

• This would an adjustment every 5 years.
• needs allowance adjustment uh included needs allowance adjustment uh included every<00:24:12.760>
• adjustment? adjustment? Yes,<00:27:49.200> Representative<00:27:49.760> Wallner.
• person making this automatic adjustment person making this automatic adjustment or<00:37:13.200>
• that adjustment as needed. That's it. that adjustment as needed. That's it.

Keywords: 928, house, all

Summary: The committee heard testimony on Senate Bill 118, as amended, which contains several unrelated provisions with a modest fiscal note. Nathan White of the Department of Health and Human Services explained that section 1 would change the personal needs allowance for Medicaid-eligible residents of private and county nursing homes from an adjustment every five years to an annual adjustment, increasing the state cost by about $50,000 per year. He also described section 2, a one-time appropriation of about $160,000 to make certain Hampstead employees whole for missed bonuses and lost leave during the state’s transition of the facility to Dartmouth management. White then outlined sections 3 through 5, which would create a dedicated fund for Hampstead lease revenue to cover the state’s contractual obligation to match Dartmouth capital improvements dollar-for-dollar up to $3 million. He said the state receives about $1.141 million in lease revenue in the first year, with a 3% annual escalator, and that the fund would hold lease revenue until needed for reimbursement. Members questioned how the matching arrangement would work, what happens if Dartmouth spends before the fund has enough money, and whether the state could refuse to match certain improvements. White said Dartmouth has final determination under the agreement if disputes arise, and that if the bill does not pass the state could face difficulty meeting the obligation without cutting services or finding other general funds. Several members also raised policy concerns about the personal needs allowance becoming an automatic cost driver. Brian Clark, attorney for the Bureau of Adult and Aging Services, clarified that current law requires the allowance to be updated at least every five years, but the legislature could change it in an off year if it chose. He also explained that the allowance is money residents retain from their own income, such as Social Security, as part of Medicaid cost-of-care calculations, and that the department does not regulate how residents keep those funds. No vote was taken during the discussion, and the committee paused to correct the bill copy before continuing testimony.

Transcript Highlights:

• Next, we'll take up Tab 1, Senate Bill 266 on public adjuster contracts, by Senator Burton.
• Unfortunately, there has been some predatory behavior by public adjusters—not all of them, but some.
• This bill allows these individuals to rescind a public adjuster contract at any time without penalty
• It does not create any new penalties or causes of action against a public adjuster.
• I'm a third-generation Floridian, second-generation licensed public adjuster, and an owner of a family

Summary: The Committee on Banking and Insurance met with a quorum present and took up several bills, beginning with SB 834 on health care sharing ministries and insurance agents. Senator Yarbrough presented the bill to repeal a recent restriction on licensed insurance agents marketing or selling faith-based health care sharing programs. Supporters argued the change restores free speech and consumer education while preserving existing consumer protections; opponents said the bill was unnecessary and could increase confusion or misuse of agents and brokers. The committee adopted a title amendment and then reported the bill favorably after debate, with Senator Pizzo raising concerns about consumer reliance and lack of guaranteed coverage. The committee then approved SB 642 on foreign and alien bail bond insurers, SB 394 on reinsurance intermediary managers, and SB 266 on public adjuster contracts. SB 266 would let vulnerable adults rescind public adjuster contracts at any time without penalty; it drew support from consumer and industry groups, with some discussion about estimates and claim work product. The committee also passed SB 832 on residential property insurance transparency, which requires rate transparency reports and a consumer resource center at OIR, and adds a provision excluding land value from homeowners coverage calculations in most cases. Testimony on SB 832 was generally supportive of the transparency goal, though insurers said some of the required cost breakdowns may be difficult to produce as written. The committee next considered SB 1028 on Citizens Property Insurance Corporation, which would create a commercial lines clearinghouse to move eligible policyholders into the private market and reduce Citizens’ commercial exposure. Supporters said it would lower taxpayer risk and improve competition; a speaker suggested additional changes to deductibles, water-damage caps, and repair practices. The bill was reported favorably after a delete-all amendment and supportive debate from Senator Boyd. Finally, the committee passed SB 540 on the Office of Financial Regulation, which adds cybersecurity requirements for certain licensees, updates oversight of investment advisers and money service businesses, adjusts some charter and meeting rules for financial institutions and credit unions, and includes amendments clarifying repossession/deficiency claims, family office exemptions, and virtual credit union meetings. The meeting ended with all of the considered bills reported favorably and the committee adjourned.

Transcript Highlights:

• And then on the next page... $14 in adjusted gross proceeds.
• And from the adjusted gross, when I say adjusted gross, this is in our reporting.
• And from the adjusted gross, when I say adjusted gross, And from the adjusted gross, when I say adjusted
• So first is to... ...explore adjusting the fee structure.
• Let me try to adjust that. Hopefully, I do this first.

Summary: The Judiciary Interim Committee met to begin its study of charitable gaming and the ownership of alcoholic beverage establishments by licensed charitable gaming organizations, a study directed by Senate Bill 2334. Legislative Council gave an overview of the constitutional and statutory framework for charitable gaming, site authorizations, rent limits, proceeds, and recent legislative changes. The Attorney General’s Gaming Division then clarified the financial flow of gaming, explaining that in fiscal year 2025 North Dakota had about $2.5 billion in gross gaming proceeds, with roughly 88-90% paid back in prizes and about $256 million available to organizations after taxes; most of that activity came from electronic pull tabs. Members asked for more detail on winnings, replays, rent, and the breakdown of manufacturer/distributor revenues, and the AG’s office agreed to provide supplemental information. The committee also heard from the League of Cities and the Association of Counties about local site authorization. Cities said they have a limited role in approving gaming sites, can adopt policies after public hearing, may charge up to $100, and can set certain conditions, including local nexus requirements, but cannot require donations or force a specific charity or site. The League said it had worked with stakeholders on a model policy to provide more consistency, though members raised concerns that local requirements could become too restrictive for charities serving broader areas. Counties said the issue is mostly a city matter, with little county involvement beyond minimal site fees and general site approval. The North Dakota Gaming Alliance testified in support of the study and provided IRS-related material suggesting charities may use asset diversification, while emphasizing it had not taken a position on whether charities should own bars. Members questioned whether bar ownership is being used for site stability or to channel charitable gaming dollars, and whether city policies might disadvantage charities with broader missions. The committee also discussed the relationship between gaming organizations, manufacturers, and distributors, including restrictions on incentives and interference, and asked for more information on those entities and their ownership. Later in the meeting, the Racing Commission gave its regular update on live racing, pari-mutuel wagering, ADW providers, purse and promotion funds, a new TRPB contract, and concerns about cease-and-desist actions from other states. Finally, the State Hospital superintendent briefly reported on the Department of Corrections and Rehabilitation’s support services, including the SORT team, training, and security assistance for the hospital campus.

Transcript Highlights:

• > administration adjustment for the administration adjustment for the administration financial
• AURI, there's an operating adjustment. AURI, there's an operating adjustment.
• Now, do we need to adjust the 150?
• Now, do we need to adjust the 150?
• Do we need to adjust the 150?

Keywords: 1187, senate, all

Transcript Highlights:

• The first is for an inflation adjustment. These are requests 1, 2, 3, and 5 in our LAR.
• This adjustment more accurately reflects the actual amounts that the agency collects.
• The first exceptional item is compensation adjustments to retain and reward skilled staff amidst the
• We're requesting funding for a lump sum leave payout and... and targeted equity adjustments.
• This is due to the buy-in realization of the statewide salary adjustment.

Bills: SB1, SB 1

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• And the adjustments that have been made to the Attorney General's portion for consumer protection, I
• And the adjustments that have been made to the Attorney General's portion for consumer protection, I
• And the adjustments that have been made to the Attorney General's portion for consumer protection, I
• And the adjustments that have been made to the Attorney General's portion for consumer protection, I
• And the adjustments that have been made to the Attorney General's portion for consumer protection, I

Keywords: 958, all

Transcript Highlights:

• But somehow I think it's in the federal adjusted gross income, so it's part of conformity.
• I think. ...in the federal adjusted gross income, so it's part of conformity.
• You could view that as the one non-federal adjusted gross income item that they adjust, but it is true
• that it is below your federal adjusted gross income on the form.
• They make any adjustments that they need when they file the 2026 taxes.

Bills: SB1638

Keywords: taxation, income tax, internal revenue code, deductions, tax benefits, retroactive, standard deduction, 1182, all

Summary: The Senate Finance Committee took up SB 1638, a tax conformity bill that would update Arizona’s tax code to the Internal Revenue Code as of January 1, 2026 and incorporate federal changes from 2025. The bill also included individual income tax subtractions for tips, overtime, seniors, and auto loan interest, along with changes to the standard deduction and charitable contribution deduction. Committee discussion focused heavily on whether Arizona should conform broadly to federal changes or limit the bill to more targeted, temporary provisions. Two amendments were considered. The chair’s amendment was described as clarifying only, addressing retroactivity and foreign dividend language, and it was adopted. Senator Epstein’s amendment would have removed the broader conformity provisions and the modified charitable deduction, limited the standard deduction change to tax year 2025, and kept the individual subtractions; she argued the business-related conformity items mainly benefited corporations and should be negotiated in the budget. Opponents said the amendment would create unnecessary recalculations and uncertainty for taxpayers and businesses, while supporters of the underlying bill said conformity was needed quickly to match Department of Revenue forms and avoid filing-season confusion. Epstein’s amendment failed. Public testimony split along similar lines. Business and tax group representatives supported prompt conformity, saying taxpayers and small businesses needed certainty and that the department’s forms should be codified. Opponents argued the bill would reduce state revenue substantially and mainly benefit higher-income taxpayers and corporations, while diverting money from education, child care, and health care. After debate, the committee voted to move SB 1638 as amended with a do-pass recommendation, passing it by about 4-3, and then adjourned.

Transcript Highlights:

• Ruby’s Bill 1577, and the $200 contribution has not been adjusted for inflation for many, many years.
• So there, we’re adjusted. It’s been adjusted for inflation for many, many years.
• And if you adjust for inflation, it would have been 247.
• This way, by just adjusting for inflation, you're actually not changing policy.
• You're just adjusting for inflation. Thank you. But it would be a new policy to go to $500.

Keywords: 908, all

Summary: The committee took up House Bill 2156, a campaign finance and reporting bill tied to the Secretary of State’s new software system. Members and staff walked through the bill section by section, explaining that much of the text is existing law being reorganized into a new chapter, with technical updates to make reporting easier and more consistent in the new electronic “checkbook” format. The bill also adds or clarifies several categories and definitions, including political donations and volunteer appreciation, and changes the reporting threshold from $200 to $250 to align with a separate inflation-adjustment bill. Other discussed changes included using the deposit date as the contribution receipt date, removing contributor addresses from public disclosure, adding non-statewide political parties to disclosure requirements, and adding political committees to the foreign-national contribution prohibition. The Secretary of State’s office testified that the new software is being developed with a vendor already used in other states, and that it will automatically track contributions, expenditures, balances, deadlines, and reminders, while preserving current public/nonpublic disclosure rules. Members asked about public access, enforcement, maintenance costs, training, and whether the system would allow both checkbook-style entry and aggregation; staff said both options would be available and that the system would flag discrepancies and carry amendments forward through later reports. The committee also discussed late-filing and amendment fees, keeping some existing deadlines such as the 48-hour supplemental statement, and making late fees more visible to the public. The committee adopted the proposed amendments by voice vote and then passed the bill as amended on a 13-0 roll call vote. Members expressed appreciation for the work of the bill sponsor and the Secretary of State’s office, and the chair indicated the bill would likely go to caucus and then the floor before moving to conference with the Senate if needed.

Transcript Highlights:

• Adjust over time.
• adjustment and the final purchase price. adjustment and the final purchase price.
• Still not inflation adjusted.
• Still not inflation adjusted.
• Still not inflation adjusted.

Keywords: 1189, house, all

Transcript Highlights:

• You want us to adjust these priorities to meet the needs of the community that's relevant for now.
• They've since made adjustments to it because times change.
• They've since made adjustments to it because times change.
• So we cannot adjust our rates on the local level.
• Can we adjust it? Can we not?

Summary: The Committee on Community Affairs convened with a quorum and took up SB 308, a bill related to the Florida Museum of Black History. The bill would establish a Florida Museum of Black History Board of Directors and direct it to work with a supporting nonprofit foundation, while also requiring the St. Johns County Board of County Commissioners to provide administrative assistance and staffing until planning, design, and engineering are complete. With no appearance forms or debate, the committee voted the bill favorably. The remainder of the meeting was an informational briefing from the Florida Association of Counties and the Florida League of Cities on local government budgeting practices. Presenters explained how counties and cities develop budgets, the legal framework governing property taxes and other revenues, the distinction between restricted and unrestricted funds, and the role of constitutional officers, public safety, debt, pensions, and capital planning. They emphasized that most local revenues are restricted by law, that general funds are the main discretionary source, and that local governments must balance annual budgets while meeting mandated service levels. The presenters also discussed how property taxes, fees, local option taxes, and state-shared revenues support local services, and they highlighted the fiscal pressures created by public safety, emergency management, infrastructure, and retirement costs. Members asked questions about the share of local revenue that is unrestricted and the implications for any proposal to eliminate property taxes. The presenters responded that only a portion of county and municipal revenue is flexible, with much of it dedicated to specific purposes by law.

Transcript Highlights:

• And it's critical that we provide that funding, that adjustment.
• With our small and mid-sized adjustment. Thank you. Vice Chair Bernal. Right.
• I think it's largely the small and mid-sized adjustment. and the facilities funding.
• We'll make adjustments.
• It's a far cry from what we really need to adjust for inflationary impacts.

Bills: HB2, HB2

Keywords: public education, teacher compensation, certification, funding, school finance, educator rights, education funding, charter schools, staff compensation, state aid, retention allotment, disaster preparedness, emergency management, flooding, mass fatality, mass casualty, fatality tracking, body recovery, autopsy, justice of the peace

Transcript Highlights:

• <00:45:40.320> How<00:45:40.440> long guys had to adjust the rules?
• What's the last time you guys had to adjust the rules? How long did it take?
• to establish automatic adjustment to establish automatic adjustment mechanisms<01:12:07.120>
• cost index automatic adjustment cost index automatic adjustment mechanism<01:12:18.480> and
• Second, these are annual adjustments Second, these are annual adjustments that<01:17:23.440>

Bills: SB3302, SB2061, SB2050, SB2102, SB2694, SB2089, SB847

Keywords: SB3302, homemade food products, farm kitchens, home kitchens, Department of Health, DOH, food safety, food labeling, value-added agriculture, small farms, agricultural land, commercial food establishment permit, cottage food, direct-to-consumer sales, local food systems, Hawaii Revised Statutes, chapter 91, farm-to-table, food processing, public health regulation

Summary: The committee on Consumer Protection and Commerce met on April 9, 2026, and heard testimony on several measures. SB 3302 SD1 HD1, dealing with homemade food products, would require the Department of Health to adopt rules for farm kitchens producing homemade food products that are no more stringent than rules for home kitchens. The Department of Health said it supported the bill with technical amendments, and the Hawaii Food Industry Association and Grassroot Institute of Hawaii also supported it. No opposition was heard. A lengthy discussion focused on SB 2061 SD2 HD1, which concerns a 99-year leasehold residential condominium project and HCDA’s rules for sales, income restrictions, and buyback pricing. HCDA supported the bill and said the House draft clarified unclear provisions and would help move the project to pre-sales. Testimony and committee questions centered on whether the project should remain owner-occupied in perpetuity or allow investor purchases after an initial sales period. HCDA explained that the bill was revised to make the project feasible in the market, that 60% of units would be income-restricted for buyers at or below 140% of area median income, and that the remaining units could be sold without owner-occupancy restrictions. Some members and testifiers expressed concern that the bill had shifted away from the original owner-occupancy vision and could become an investment property model, while others argued the changes were necessary for the project to pencil out and compete with fee-simple developments. No vote was taken during the discussion shown. The committee also heard SB 2050 SD1 HD1, which would allow chiropractic students in accredited programs to engage in clinical practice beginning July 1, 2028. The Hawaii Board of Chiropractic and the Hawaii State Chiropractic Association supported the measure, and one testifier described personal experience with student chiropractic care in California. Members questioned why the board requested delaying implementation until 2030, and the board said it needed more time to develop rules because it meets only a few times a year and rulemaking is lengthy. Finally, SB 2102 SD2 HD1, on industrial hemp in commercial feed, was introduced; the Department of Agriculture and Biosecurity offered comments, the Department of Health raised concerns about regulating pet food and possible jurisdictional conflict, and a farmer testifying in support suggested narrowing the bill to federally approved livestock feed rather than pet food.

Transcript Highlights:

• It doesn't raise it, it doesn't adjust it one way or another.
• Um it's in everybody's packet and this was just an oversight in the adjustments or corrections that were
• c><00:00:48.160> it,<00:00:48.240> it<00:00:48.280> doesn't<00:00:48.520> adjust
• <00:00:48.960> it doesn't raise it, it doesn't adjust it doesn't raise it, it doesn't adjust
• <00:04:34.640> or uh adjustments or uh adjustments or corrections<00:04:36.320> that

Keywords: 1136, house, all

Transcript Highlights:

• On the summary page of the report, it states that the DOE recommends the add-on weights be adjusted in
• proportion to the ...we recommend the add-on weights be adjusted in proportion to the funding increase
• However, no specific level of adjustment is addressed in the report, and I am hoping the department also
• On the summary page of the report, it states that the DOE recommends the add-on weights be adjusted in
• proportion to the we recommend the add-on weights be adjusted in proportion to the funding increase

Summary: The Pre-K through 12 Budget Subcommittee met for its first meeting of the 2025 session and received an overview of add-on weights in the Florida Education Finance Program (FEFP), followed by a Department of Education presentation on a legislatively required study of add-on weight funding and expenditures. The chair explained that add-on weights apply to acceleration and career programs such as AP, IB, ACE, CAPE, dual enrollment, early graduation, and certain small-district needs, and noted that add-on funding has grown substantially as the base student allocation increased. The chair also raised concerns that the department’s report did not clearly show whether districts’ reported costs included the full costs required by the proviso, and asked for more specificity on any recommended adjustment to the weights. Deputy Commissioner Suzanne Pridgen said the department surveyed districts on how they spent add-on revenue for fiscal years 2021-22 through 2023-24, with categories including teacher compensation, materials, equipment, professional development, exam fees, counseling, apprenticeship costs, and other expenditures. She said most add-on funds were spent on teacher bonuses and compensation, with AP, ACE, CAPE, and dual enrollment showing the largest increases in spending in 2023-24 due to higher FEFP funding; IB and early graduation were relatively flat. The department reported that add-on revenue covered between 41.8% and 79.2% of total program expenditures in 2023-24 and recommended adjusting add-on weights to better align with pre-2023-24 funding relationships, though no specific percentage was given during the meeting. Members asked about how “other” expenditures were categorized, whether teacher compensation included only statutory bonuses, how dual enrollment tuition and fees were counted, the small district factor, and whether the weights incentivize districts to offer advanced programs. The department clarified that teacher compensation in the study referred only to bonuses, that some “other” costs included charter school payments and dual enrollment tuition/fees, and that the small district factor is 1.0277, increasing base funding by 2.77% for fiscally constrained counties. No votes were taken, and the meeting adjourned after the presentation and questions.

Transcript Highlights:

• This is simply an adjustment to the level of the offense and the consequences that would be endured by
• This is simply an adjustment to the level of the offense and the consequences that would be endured by
• It's already a gross misdemeanor, and we are simply adjusting the seriousness with which we address that
• It's already a gross misdemeanor, and we are simply adjusting the seriousness with which we address that
• It's already a gross misdemeanor, and we are simply adjusting the seriousness with which we address that

Bills: HF3489, HF3990, HF3825, HF3826, HF3827, HF3822

Keywords: grooming, child protection, student safety, sexual exploitation, educator licensing, teacher discipline, mandatory reporting, mandated reporter training, school misconduct, predatory offender, child abuse, sexual abuse, sex trafficking, child sexual abuse material, child pornography, position of authority, school employee, school administrator, license revocation, license suspension

Transcript Highlights:

• Start but one adopt the technical adjustment. On 1A, adopt at half.
• Technical adjustments item one would be amend writer two, the capital budget.
• We're only going to attend to the last item, item five, but let's first adopt the technical adjustments
• For technical adjustments, the first item is for Alamo security.
• So first is adopt all the technical adjustments, and then everything else is great, but please know I

Keywords: 1184, house, all

Transcript Highlights:

• So that's something the uh adjustment, but not all of the same bundle of goods will be the same across
• with the cost-of-living adjustment, so it has continuously increased while goods and services, their
• with the cost-of-living adjustment, so it has continuously increased while goods and services, their
• with the cost-of-living adjustment, so it has continuously increased while goods and services, their
• There will be no cost adjustment for labor increases.

Summary: The committee held a study on the potential effects of living wage or minimum wage laws in Oklahoma, with the chair emphasizing that the discussion was not intended to advocate for or against State Question 832. The first panel focused on economic and workforce impacts. An Oklahoma Department of Commerce representative argued that living wage calculations vary by region and household type, that Oklahoma’s average wages are already near or above many living-wage estimates, and that higher mandated wages could lead employers to cut hours, reduce hiring, automate, or avoid expansion, especially in rural areas where childcare, healthcare, broadband, and infrastructure constraints also affect labor participation. Committee members asked about wage distributions, rural cost differences, training pathways, and whether higher wages might draw workers or businesses out of state; the witness said many low-wage workers move up over time and that Oklahoma has seen net in-migration. A State Chamber Research Foundation witness then testified that a $15 statewide wage floor would raise payroll costs substantially, especially for small rural employers, and cited examples from California and Seattle to argue that higher wages can reduce hours, jobs, and benefits while increasing consumer prices. She suggested alternatives such as expanding the state earned income tax credit and promoting upskilling through existing education and training programs. A Missouri Chamber of Commerce and Industry representative described Missouri’s recent voter-approved minimum wage increase to $13.75, rising to $15, along with paid sick leave provisions. She said the chamber opposed the measure because it would raise business costs, hurt rural communities and youth employment, and force some employers to cut hours, reduce hiring, or close. She cited examples from Missouri businesses facing significant added costs and warned that a future ballot initiative could create a patchwork of local minimum wages. In response to questions, she said Missouri’s law did not distinguish by age or industry, that businesses had raised concerns about union contracts and compliance, and that the chamber viewed the measure as harmful to competitiveness. Peter Hansen of NFIB presented the final major testimony, summarizing an NFIB study projecting that a higher Oklahoma minimum wage would produce some short-term GDP gains but longer-term losses, with GDP turning negative by the early 2030s and job losses growing over time. He said businesses respond to higher wage mandates by raising prices, trimming jobs, converting full-time positions to part-time, reducing benefits, and shifting investment toward automation or other capital. He argued that the burden falls most heavily on vulnerable workers such as young or marginal employees, who are less likely to be hired when labor costs rise. In questioning, he acknowledged that higher wages can improve pay for some workers and may have some short-term positive effects, but maintained that the long-term employment and investment effects are negative. No votes or formal actions were taken in the meeting.

Transcript Highlights:

• But, you know, for active adjustment.
• guess, and that way we make adjustments guess, and that way we make adjustments along<00:51:58.480
• <01:04:52.560> every slide, they make adjustments every slide, they make adjustments every
• that minimum daily wage modestly adjust that minimum daily wage threshold<01:27:56.760> rate.
• modestly adjust that upward. modestly adjust that upward.

Keywords: Meeting Start: 00:00:00 Attendance Roll Call: 00:00:12 Approval of Minutes: 00:01:34 Actuarial Valuation Update – KPPA: 00:02:10 Actuarial Valuation Update – TRS: 00:25:32, 958, all

Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.

Transcript Highlights:

• ARM strongly opposes the proposal to cap inflationary adjustments at 2%.
• This adjustment will further erode their wages.
• This adjustment will further erode their wages.
• little over $17 per hour this adjustment little over $17 per hour this adjustment will<00:57:37.640
• The other one is the inflationary cap adjustment proposal.

Keywords: 1183, house