Video & Transcript Research : 'fee structure'

Page 121 of 500
WY

Wyoming 2026 Regular Session

Select Committee on School Finance Recalibration, June 25, 2026 - PM

Select Committee on School Finance Recalibration

Transcript Highlights:
  • didn't feel that it particularly needed any changes other than potentially updating with the new cost structure
  • the general fund, not limited to their agency fund, which includes whether they have dues or ticket fees
  • That would boil down to $3,000 per kid per sport in activity fees.
  • So there's a simple one: utility fees. So there's a simple one: utility fees.
  • , a routine, and a community of people that will accept them. ...structure and a routine and a community
Keywords: 916, all
VT

Vermont 2025-2026 Regular Session

House Session - 2026-04-21 - 10:00AM

Vermont House Floor Meeting

Transcript Highlights:
  • It also allows the benefit review board to pay reasonable fees out of the emergency personnel survivors
  • <00:18:29.280> to<00:18:29.400> pay<00:18:29.600> reasonable<00:18:30.120> fees
  • /c><00:18:30.800> out<00:18:30.919> of<00:18:31.000> the to to pay reasonable fees
  • out of the to to pay reasonable fees out of the emergency<00:18:31.720> personnel<00:18:32.240
  • similarly similarly to the structured similarly similarly to the enhanced<00:26:05.240> penalty
Keywords: 926, house, all
Summary: The House opened with ceremonial readings and announcements, including a pledge of allegiance and a House Concurrent Resolution recognizing April 2026 as the Month of the Military Child in Vermont. Members also welcomed guests in the gallery, including military families, Vermont Library Association leaders Daisy Benson and Amy Williams, a legislative intern, delegates from North Macedonia under the Open World Program, and Norwich University students. Several caucus and event announcements followed, including a reception for an art exhibition, caucus meetings, and a legislative cabaret notice. The chamber then took up Senate Bill 89, relating to expanding survivor benefits. Committee members explained that the bill would extend the existing emergency personnel survivor death benefit to additional categories of workers, including law enforcement officers, certain corrections employees, family services workers, and certain state-operated mental health employees, with a prospective effective date of July 1, 2026. The House General and Housing Committee reported the bill favorably 10-0-1, and the Appropriations Committee reported 11-0-0, noting there was no new money in the bill and that the fund currently had enough for one claim. The House voted to propose the bill to the Senate as amended and ordered it to third reading. The House also considered House Bill 626 on sexual extortion, voyeurism, and nonconsensual disclosure of sexually explicit images. The Senate amendment added enhanced penalties for voyeurism involving victims under 18, with higher penalties for repeat offenses. After hearing from the Defender General, prosecutors, sheriffs, and the Vermont Network Against Domestic and Sexual Violence, the House Judiciary Committee recommended concurrence 10-0-1. The House agreed to concur in the Senate proposal of amendment, and third reading was ordered. At the end of the session, the House adjourned on a voice vote until Wednesday, April 22, 2026, at 1:00 p.m.
HI
Transcript Highlights:
  • on properties they own or lease and do not offer the buildings or structures for sale.
  • Requires an owner or lessee to provide signed written notice that a residential structure offered for
  • So, this particular bill, which exempts the lessee structures from the contractor's license, the licensing
  • out consumers that have been wronged um by an unlicensed contractor, which would include the exempt fees
  • So, with all of include the exempt fees.
Summary: The House Housing Committee heard testimony on several housing-related bills. HB 1743 would expand the owner-builder exemption by repealing a leasing restriction and requiring notice when a leased residential structure was built by an unlicensed contractor. Subcontractors Association of Hawaii and the Contractors Licensing Board opposed the bill, warning it could encourage unlicensed contracting and weaken consumer protections, while Hawaii Realtors, Housing Hawaii’s Future, Grassroot Institute of Hawaii, BIA Hawaii, and others supported it as a way to increase housing flexibility. After questions about whether licensed electrical and plumbing work would still be required, the committee voted to pass HB 1743 with amendments and a defective date. The committee also heard and advanced HB 2122 HD1 on teacher housing, which would create a teacher housing assistance program using vouchers from the teachers housing revolving fund. Testimony included support from the Chamber of Commerce of Hawaii, Housing Hawaii’s Future, the Democratic Party of Hawaii Education Caucus, and individuals, with the Office of Collective Bargaining in opposition and the Department of Education offering comments. The bill was voted out as is. The committee then considered HB 1756 and HB 1837, both updating the individual housing account program to reflect current housing prices; supporters including Housing Hawaii’s Future and the Office of Hawaiian Affairs said the limits were outdated and needed inflation adjustments, and HB 1756 was passed with amendments while HB 1837 was deferred as nearly identical. HB 1729 would disallow the state home mortgage interest deduction for second homes. Hawaii Realtors opposed it, while Housing Hawaii’s Future supported it as a way to prioritize first-time homebuyers and reduce competition from second-home buyers. The chair noted a possible revenue savings estimate and the committee passed the bill with amendments, with several reservations. Finally, HB 2559 would prohibit real estate brokers from marketing residential property to limited exclusive groups of buyers, which the Office of Consumer Protection said needed an enforcement clarification and the Realtors said could affect some legitimate private-listing situations. The chair proposed replacing the outright ban with a disclosure requirement for private listings, and the committee passed HB 2559 with amendments. The hearing then adjourned after the chair thanked members, staff, and the public.
TX

Texas 89th 2nd C.S.

Agriculture & Livestock Mar 4th, 2025

Agriculture & Livestock

Transcript Highlights:
  • We, we pay our own way fee for services that we provide. Uh, we're in three divisions.
  • Uh, but there's a $5 fee. It's, it's optional on a farm license plate for a trailer or truck.
  • This unstable funding structure puts the entire industry at risk.
  • There hasn't been an overall redoing of the structure, and to me that's the biggest, that's where the
  • While TBMA members understand that some fee increases are necessary to cover the additional costs, to
TX
Transcript Highlights:
  • healthcare practitioner agrees to provide healthcare services to the patient in exchange for a direct fee
  • It relates to restrictions on the fee assessed for the issuance of... and birth records and was passed
  • Agency aligning with current administrative structures and ongoing early childhood efforts.
  • That's the reason why we're trying to look at a structure here that opens it up a little bit.
  • And what we might be able to do to encourage sound, continuing family structures. Thank you.
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Apr 22nd, 2026

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • I'll quote, 'The fee shall be 10% of monthly adjusted transaction total from sports betting.'
  • To be perfectly clear, there were the exclusivity fees that were paid from that did go to the Education
  • This structure obviously has safety hazards. Now, this bill does not eliminate safety standards.
  • So in this case, what they're trying to say is this elevator is safe, but the structure itself, having
  • A lot of the structure of the building itself to make it to the level of today's standards when they
Summary: The Senate convened with a quorum, heard an invocation, and recognized several guests and groups in the gallery, including the Ponca City High School Poe High Steppers, the Edmond Democratic Women, family members of senators, a Grace Reform Baptist Church co-op group, and Oklahoma 4-H participants. The chamber also honored the Red Oak Lady Eagles state championship basketball team with a citation and remarks celebrating their first school basketball title and strong season. The Senate adopted Senate Concurrent Resolution 22, supporting the Lights Out Oklahoma campaign to reduce bird mortality during migration by encouraging reduced exterior lighting in peak migration months. The chamber also adopted Senate Resolution 41, proclaiming April 22, 2026, as the 27th annual 4-H Day at the Capitol, with testimony from 4-H representatives emphasizing youth leadership, civic engagement, and workforce readiness. Several bills passed, including House Bill 169 (house amendments adopted and the bill passed as an emergency measure), House Bill 2123 on the Arkansas River bridge, House Bill 2650 on summary administration estate thresholds, House Bill 3260 on funeral director continuing education approvals, House Bill 3403 on a DEQ/OSU sewage sludge pilot study, House Bill 3649 on the Mental Health Department real property trust, House Bill 3742 on criminal discovery, House Bill 3831 on a Task Force One revolving fund, House Bill 3996 on indigent defense experts in capital cases, House Bill 4321 on limits on retroactive building rule application, and House Bill 4339 on summary administration notice timing. House Bill 1047, which would have authorized a tribal sports betting framework and related revenue distributions, drew extensive debate over gambling addiction, revenue, tribal compacts, geofencing, and NIL funding, but failed 21-27; Senator Coleman gave notice of intent to reconsider. The Senate then announced an Appropriations Committee meeting and adjourned until the next scheduled session.
ND

North Dakota 2025-2026 Regular Session

Senate Floor Session Apr 10th, 2025 at 12:30 pm

North Dakota Senate Floor Meeting

Transcript Highlights:
  • These improvements are needed to continue our goal of modernizing and repairing state structures and
  • The bill defines key terms and addresses criminal justice fees.
  • fees of $55 currently imposed by DOCR.
  • The bill also removes indigent defense fees. Approximately 25%.
  • The bill also removes indigent defense fees, including the $35 application fee for hiring a defense attorney
Keywords: 908, all
Summary: The Senate opened with prayer, the Pledge of Allegiance, and a quorum call, then approved journal corrections and moved to elect Senator Kyle Davison as President Pro Tem. Davison was nominated, elected by unanimous ballot, escorted to the rostrum, sworn in, and gave remarks thanking his family, colleagues, and faith, emphasizing relationships, service, and stewardship. The chamber also recognized National Public Health Week with a floor statement honoring public health workers and training programs, and that statement was ordered printed in the journal. The Senate then considered several House bills, beginning with HB 1485, which increases the personal needs allowance for Medicaid residents in certain facilities by $15 per month and indexes it to inflation; the amendment was adopted and the bill passed 46-1. HB 1018, the State Historical Society budget, was amended to adjust one-time and ongoing funding for museum exhibits, repatriation compliance, archives storage, local historic grants, and the military gallery project, then passed 42-0 with one senator excused from voting due to a conflict. HB 1181, defining gender in state code as an individual’s sex and removing a broader application section, passed 41-6. HB 1144, adding a penalty and enforcement mechanism related to transgender student accommodations and restroom use in public schools, passed 40-7 with its emergency clause. The Senate also passed HB 1600, creating an immigration law clinic at the University of North Dakota School of Law and shifting its funding to the strategic investment and improvements fund, by 34-13. HB 1019, the Parks and Recreation budget, was amended to fund deferred maintenance, technology, sewer work, matching grants, and other park projects, add language requiring legislative approval for new or renamed state parks, and clarify use of the Teddy Roosevelt Presidential Library line of credit; a proposed amendment to remove funding for the International Peace Gardens cactus conservatory failed 20-27, and the bill then passed 39-8. HB 1417, dealing with parole/probation violations, court fees, and a study of criminal justice fees, passed 40-7 after amendments. The most extensive debate centered on HB 1450, which would require parent or guardian access to a minor’s medical exam room and notice of questions asked of the minor, with exceptions for emancipation and suspected abuse or trafficking. Supporters framed it as a parental rights and transparency measure, while opponents warned it could hinder screening for abuse, neglect, mental health concerns, and confidential care; multiple senators shared personal experiences on both sides. A proposed amendment to narrow the bill failed 21-26, and the transcript ends amid continued debate on the bill itself, with no final vote shown in the excerpt.
NM

New Mexico 2025 Regular Session

House - Appropriations and Finance Mar 19th, 2025

House Appropriations & Finance

Transcript Highlights:
  • The marriage license fee has not gone up for quite some time.
  • I have no problem with you raising the fees.
  • Chair, Representative, I hear your concern, and in raising the fees, that's why we have the amendment
  • So we are late in the session, and this was sort of the agreed-upon division of the increased fees. .
  • ..division of the increased fees.
AZ

Arizona 2026 Regular Session

01/13/2026 - Senate Regulatory Affairs & Government Efficiency Committee of Reference

Senate Regulatory Affairs & Government Efficiency Committee of Reference

Transcript Highlights:
  • The privilege fees are the taxes that should be going to the state.
  • The privilege fees are the taxes that should be going to the state.
  • fees.
  • privilege fees.
  • Thank you. fees that's taxes under our regulated environment privilege fees okay thank you but you did
Keywords: 1182, all
KY

Kentucky 2026 Regular Session

House Legislative Session Day 24 (2-10-26)

Kentucky House Floor Meeting

Transcript Highlights:
  • House Bill 470 also creates a work group to design and modernize a board structure for the oversight
  • specialty area to identify best practices and recommend a unified, efficient, and accountable regulatory structure
  • They're going to use a portion of their fees and fines to pay for these scholarships for students wanting
  • They're going to use a portion of their fees and fines to pay for these scholarships for engineers for
Summary: The House convened with prayer and the Pledge of Allegiance, established a quorum, approved the prior journal, and received favorable committee reports on several bills, including measures on background checks, proactive post-secondary admission, public post-secondary employment, tuition waivers, vehicle wheels, choking prevention in schools, state parks, veterans’ benefits, and a resolution on a VA accreditation pathway for private veterans’ benefits assistance companies. The chamber then considered and passed House Bill 470, relating to peer support specialists and declared an emergency. Members adopted a committee substitute and a floor amendment that extended the registration deadline for alcohol and drug peer support specialists to January 1, 2028, clarified employer and work group provisions, removed the temporary peer designation, and created a work group to modernize oversight of peer support specialists. The bill passed 97-0. House Bill 49, creating a scholarship program for professional engineering and land surveying students funded by board fees and fines in exchange for post-graduation service in Kentucky, also passed 97-0. During announcements, members recognized visiting groups, upcoming committee meetings, and events, including a Kentucky Justice Association reception, a magistrates and commissioners breakfast, Jewish Advocacy Day, and a Lewis Ridge pump storage project meeting. The House also adopted a citation honoring the Hopkins County Central High School High Voltage Dance Team for winning two national titles. New bills and resolutions were introduced, the Committee on Committees and Rules referred bills to committees and posted several measures for the next day’s calendar, and the House adjourned until 2 p.m. Wednesday, February 11, 2026.
NM

New Mexico 2025 Regular Session

IC - Public School Capital Outlay Oversight Task Oct 10th, 2025

Public School Capital Outlay Oversight Task Force

Transcript Highlights:
  • That's also going to include any municipal specific fees and costs, so that would be permit fees and
  • And so you're seeing permits and fees as the top line.
  • So that would be any of your impact fees or permits and fees that you would have with a permit submitted
  • And so we have raw land and permitting and fees.
  • If I might, in 1993, the legislature passed the Development Fees Act, and think of it as impact fees;
VT

Vermont 2025-2026 Regular Session

House Session - 2026-03-18 - 2:32PM

Vermont House Floor Meeting

Transcript Highlights:
  • 05:11.000> for Create structured review processes for Create structured review processes for housing
  • Non-profits are structured to be independent fiduciary bodies.
  • > be Non-profits are structured to be Non-profits are structured to be independent<01:37:46.720
  • :25.280> cannot<01:47:25.520> be a structural problem that cannot be a structural problem
  • for a solicitor's license fee. for a solicitor's license fee.
Keywords: 926, house, all
Summary: The House resumed consideration of H.606 on firearm procedures and first took up Section 3 and its effective dates. A member from Northfield spoke at length in support, arguing the provision is narrowly tailored, based on actual dangerousness rather than mental illness alone, and is more limited than federal law because it applies only to specific court findings and is temporary, with rights restorable upon recovery. The House then approved Section 3 and its effective dates, approved the remainder of the Judiciary Committee report, and ordered third reading. The chamber then moved through third readings and passed H.385 on remedies and protections for victims of coerced debt, H.556 on exceptions to the state minimum wage, H.559 on the parole board, H.723 on posting of land, and H.757 on manufactured homes and limited equity cooperatives. On H.814, relating to neurological rights and AI in health and human services, the House adopted an amendment offered by the member from Burlington that required the advisory council to include proposed definitions for neurotechnology, artificial intelligence, and related terms in its report; the House Health Care Committee reported the amendment favorable 11-0-0, and the bill then passed. H.816, regulating the use of artificial intelligence in the provision of mental health services, also passed, as did H.927, technical corrections for the 2026 session. The House then took up H.930 on chronic absenteeism. The committee member from Manchester described the bill as an AOE proposal responding to high post-pandemic absenteeism rates and their impact on learning, and outlined provisions adding definitions, updating compulsory attendance language, requiring a state model policy, strengthening notification and truancy procedures, and preserving existing penalties. The member said the Education Committee heard from a wide range of education and child welfare witnesses and passed the bill 11-0. After a brief clarification on the absences section, the House proceeded toward third reading of H.930.
NM

New Mexico 2026 Regular Session

House - Appropriations and Finance Feb 3rd, 2026 at 03:06 pm

House Appropriations & Finance

Transcript Highlights:
  • off the, you know, what's happening with the growth in construction costs, of course, and reduced fees
  • problem of creating pressure, which is creating pressure on institutions to not raise tuition and fees
  • Tuitions and fees can be used for that. So, Chairman and Representative, walk me through that one.
  • Student fees or other applicable non-state revenue.
  • Chairman and Representative Pettigrew, yeah, so the way the current GAA is structured, you all made A
Keywords: 996, all
ND

North Dakota 2025-2026 Regular Session

Water Topics Overview Committee Jun 10th, 2026

Transcript Highlights:
  • must review approaches for managing water from surrounding states, the powers and organizational structure
  • The study must review the powers and organizational structure of watershed boards, dispute resolution
  • They just elected to stay underneath the county structure.
  • , sewer fees, city sales tax, and more often we're seeing more creativity.
  • City sales tax, and more often we're seeing more creativity with fees as well.
Summary: The Water Topics Overview Committee met to receive interim status updates on several water-related studies and Department of Water Resources projects. The committee approved the March 26, 2026 minutes, observed a moment of silence for the late Representative Conmy, and then heard updates on the watershed management study and the stormwater/wastewater study. Staff reported that the committee had already received the testimony contemplated in the study plans, including input from state agencies, local governments, and out-of-state entities, and that any further action would be at the committee’s discretion. The Department of Water Resources then provided project and budget updates on NAWS and the Southwest Pipeline Project. Reese reported NAWS is expected to serve about 81,000 users, with a total projected cost of about $571 million and about $96 million remaining, while the Southwest Pipeline Project is estimated at $1.06 billion total with about $409 million remaining. Members asked about funding sources, capacity needs, and whether current and future construction is being designed for increased demand; department staff said current work is designed for ultimate capacity, but some future components may need redesign based on new requests. The committee also discussed local cost shares, Minot’s role in NAWS funding, and whether the system is adequate for peak demand. A major portion of the meeting focused on the department’s cash management, carryover, and long-term water funding outlook. The department said Resources Trust Fund revenues are tied to oil extraction taxes and are affected by stripper well exemptions and future oil price declines. Members expressed concern about large carryover balances and whether the state is obligating more money than can realistically be spent in a biennium. The department reported about $340.6 million in remaining carryover and said it is trying to reduce that through a two-tier pre-construction/construction process and closer project vetting. The department also summarized the Deloitte studies on regional governance and finance and on cost-share policy. Stakeholders generally favored keeping the current governance structures for NAWS and Southwest with improvements, while Red River stakeholders leaned toward a different option; the department said it will bring an implementation plan back in September. On cost share, Deloitte’s recommendations would reduce some percentages, prioritize projects differently, and use other measures to close a projected long-term funding gap. Members debated affordability, local burden, deferred maintenance, and whether statutory changes may be needed to allow the commission more flexibility in prioritizing and funding projects. No formal votes or final actions were taken beyond approving the minutes and receiving the updates.
MN

Minnesota 2025-2026 Regular Session

Committee on Judiciary and Public Safety - 03/10/25

Judiciary and Public Safety

Transcript Highlights:
  • that<00:08:32.959> would<00:08:33.080> be<00:08:33.240> dedicated kind of a fee
  • uh that would be dedicated kind of a fee uh that would be dedicated for<00:08:34.080> this<00
  • These fees help offset costs for services such as risk assessments, case management, and intervention
  • intention made when supervision fees intention made when supervision fees were were were removed
  • <01:49:10.480> thank structure thank structure thank you<01:49:12.280> uh<01:49:12.599>
Keywords: 1187, senate, all
FL

Florida 2026 Regular Session

Appropriations Committee on Agriculture, Environment, and General Government Feb 18th, 2026

Appropriations Committee on Agriculture, Environment, and General Government

Transcript Highlights:
  • These penalties include denial of future application for licensure and an administrative fee not to exceed
  • Committee Substitute for Senate Bill 800 imposes progressively higher fees for subsequent offenses of
  • Committee Substitute for Senate Bill 800 imposes progressively higher fees for subsequent offenses of
  • The program will be funded through engineering licensure fees and fines, and that is the bill, Mr.
  • These changes include clarifying that the network or exchange fees paid by DFS must not exceed fees that
Summary: The committee heard and advanced several bills related to engineering regulation, cybersecurity, financial services, and state administration. CS/SB 800 would increase penalties for repeated unlicensed engineering practice and create an engineering student loan assistance program funded by licensure fees and fines; it was reported favorably after questions about whether it would reimburse victims of unlicensed practitioners, with the sponsor noting it would not and that affected individuals would need to pursue complaints and private legal action. CS/SB 576 created a local government cybersecurity protection program administered by Florida Digital Service, with state purchasing of cybersecurity services and priority for fiscally constrained counties; it received support from local government and industry groups and was reported favorably. CS/SB 1078 set transition requirements for gubernatorial administrations, including liaisons, briefing books, office space, IT access, and controlled access to agency records under a memorandum of understanding, and it also passed favorably. The committee also approved CS/SB 314, which creates a regulatory framework for payment stablecoin issuers in Florida, and CS/SB 530, which updates lottery operations, security, retailer rules, and bonding requirements. CS/SB 1614, after adoption of a technical substitute amendment, would limit local governments’ eligibility for certain state funding if they have excess funds, have recently been audited by the legislative audit committee, or fail to affirm expenditure of prior funds; the sponsor said it would give the Joint Legislative Auditing Committee more enforcement leverage, and the bill was reported favorably. CS/SB 990 authorizes protective cell captive insurance companies to expand insurance market capacity and potentially lower premiums, while CS/SB 1588 is a step toward implementing last session’s gold and silver legal tender law; both were reported favorably. Additional bills passed included CS/SB 1440, which adds cybersecurity-related exemptions and reporting provisions for financial institutions, loan originators, and money service businesses, and CS/SB 1568, which creates a Florida Stable Coin Pilot Program allowing DFS fees to be paid with approved stablecoins. The stablecoin bill was amended to add guardrails, including fee limits, website notice requirements, and restrictions if no approved issuers are available. The committee also received a brief budget overview highlighting major funding items such as Florida Forever, Everglades restoration, water quality, Farmers Feeding Florida, citrus recovery, school lunches, state parks, and law enforcement and staffing items, and members later recorded additional votes before the committee adjourned.
OK

Oklahoma 2026 Regular Session

Postsecondary Education Feb 10th, 2026 at 10:30 am

Postsecondary Education

Transcript Highlights:
  • It's asking for there to be Uniformity, obviously, when it comes to security fees that should be based
  • So there Event cost extra fees because of what supports their event.
  • This is specific to the security fees.
  • Do you have any concerns then that what will end Up happening is that all groups will then have a fee
  • But that schools will just say we've got to add this fee on to everybody to be fair because we can't
MN

Minnesota 2025-2026 Regular Session

House Workforce, Labor, and Economic Development Finance and Policy Committee 4/1/25

Workforce, Labor, and Economic Development Finance and Policy

Transcript Highlights:
  • and costs and come into um all the fees and costs and books<01:23:36.520> and<01:23:36.679>
  • There are fees to take the testing, and then there's also fees on an ongoing basis every two years, just
  • , and then I think there's also a fee for the observer to come out, but I'm not sure how much that is
  • think there's also a fee for the think there's also a fee for the Observer<01:25:07.639> Observer
  • He said he wanted to remind everyone what they are doing here when they raise any kind of fees.
CA

California 2025-2026 Regular Session

Assembly Environmental Safety and Toxic Materials Committee Jun 30th, 2026

Environmental Safety and Toxic Materials

Transcript Highlights:
  • Public water systems are designed to provide customers with safe, reliable drinking water and aid in structural
  • These actions can include structural hardening, defensible space clearance, and redundant power supplies
  • While water districts routinely prepare for individual structure fires, the amount of water needed to
  • They also have relief on fees.
  • So I have a few concerns, particularly related to the fee as it relates to site visits with the department
Keywords: 988, house, all
MO

Missouri 2026 Regular Session

Joint Committee on Public Employee Retirement Apr 28th, 2026 at 08:30 am

Joint Committee on Public Employee Retirement

Transcript Highlights:
  • A more differentiated structure relative to many peers.
  • So these structural differences really help explain relative performance over time. Now, 20...
  • And we've updated that structure. Portfolio look a little bit more similar to peers.
  • And we've updated that structure. It's being phased in thoughtfully over eight quarters.
  • The attorney's fees are roughly $20 million.
Keywords: 959, house, all
Summary: The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS staff and its investment consultant reviewed the system’s structure, membership, funding policy, and investment approach. They reported a June 30, 2025 funded ratio of 55.4%, with about $17.4 billion in liabilities and $9.6 billion in assets, and explained that the board certified a 32% employer contribution rate under its minimum contribution policy, up from 30.25%, which will increase state appropriations. They also described the system as mature, with more retirees and inactive members than active employees, and said declining payroll growth has made it harder to improve funding. The presentation emphasized that recent board actions were intended to strengthen the plan over the long term, even though they increased near-term costs. Those changes included lowering the assumed investment return over time to 6.95%, updating mortality assumptions, moving from an open to a closed amortization schedule, and adopting a minimum employer contribution policy. The investment consultant said MOSERS historically used a more risk-balanced asset allocation than many peers, which helped explain weaker relative returns during a long period when public equities outperformed; the board has since shifted toward a more equity-oriented allocation. He said recent performance has improved, with the portfolio outperforming its policy index and ranking better against peers in the short term, though longer-term peer performance remains a concern. Committee members questioned why the funded ratio had declined over roughly 20 years and whether past investment and actuarial assumptions were too optimistic or too conservative. MOSERS officials responded that the current board is trying to correct earlier decisions and that the present strategy is more in line with industry practice. Members also discussed a proposed MOSERS bill package that would automatically refund small balances to terminated non-vested members and increase deferred compensation auto-escalation, with officials saying the refund provision would improve efficiency and return small balances sooner. The committee also briefly discussed ongoing litigation involving Catalyst Capital; MOSERS said attorney fees have been about $20 million so far, the case remains on appeal, and the damages amount is sealed. No formal votes were taken, and the committee adjourned after questions and discussion.