Transcript Highlights:

• ,</c> implementation, program evaluation, implementation, program evaluation, problem<00:28:32.799><c
• </c><00:58:34.960><c> Um</c> evaluation after the grant occurs.
• Um evaluation after the grant occurs.
• ><c> and</c> The students evaluated them and The students evaluated them and submitted<01:26:37.199><
• Like what academic performances or attendance would be a good thing to measure?

Keywords: 1183, house

Transcript Highlights:

• </c><00:44:40.880><c> that</c> then as The Regulators evaluate that then as The Regulators evaluate that
• Potentially evaluate and choose one or the other, or none.
• </c> because right now it's under evaluation because right now it's under evaluation there<01:11:08.920
• That's addressed in 20190323, where they're evaluating those.
• That's addressed in 20190323, where they're evaluating those.

Keywords: 910, house, all

Summary: The committee on Energy and Environmental Protection heard testimony on Senate Bill 897, which would create a Wildlife Liability Trust Fund within DCCA for administrative purposes. The chair opened by noting the hearing had to end by noon because of floor session, and that written testimony would be considered if not all witnesses could speak. Testimony included support from DCCA, the Attorney General’s office, the Public Utilities Commission, Charter Communications, Ulupono Initiative, AES Hawaii, Hawaiian Electric, Clearway Energy Group, Kauai Island Utility Cooperative, Hawaiian Telcom, and IBW Local 1260, with opposition or concerns from the Hawaii Association for Justice and some others. Hawaiian Electric strongly supported the bill and asked for amendments, saying the fund would help address wildfire liability, protect customers and the economy, and support restoration of investment-grade credit; it also proposed a larger shareholder contribution and said the bill was part of a broader effort to raise settlement funds and improve grid safety and resiliency. Committee members focused heavily on whether the bill would actually lower costs for ratepayers and improve credit ratings. DCCA said there was a nexus between limiting liability, creating a sufficiently large wildfire fund, and transparent mitigation requirements, but acknowledged there was no guarantee of a credit-rating improvement or precise estimate of rate impacts. Members questioned Hawaiian Electric about the assumptions in its cost comparisons, the 30-year securitization structure, and whether funding could be shifted later to shareholders after credit was restored. Hawaiian Electric responded that the bill assumes the fund is paid through securitization, that removing that presumption could undermine the credit-rating benefit, and that its models suggest credit-spread savings could offset the customer charge over time; it also said it would follow up with additional analysis. The company and Ulupono both described the measure as a difficult but potentially necessary way to socialize wildfire risk and avoid a larger crisis later. The Hawaii Association for Justice opposed the bill’s liability caps and raised concerns about consumer rights, oversight discretion, statute-of-limitations changes, and evidence rules. Hawaiian Telcom suggested amendments to clarify compliance with FCC pole-attachment agreements. No vote or final action was taken during the portion of the hearing provided, and members indicated they wanted more analysis before being comfortable with the bill’s long-term ratepayer impacts.

Transcript Highlights:

• These are standard procedures taught and performed safely by optometrists.
• There are no shortcuts for learning how to safely perform eye surgery.
• In June 2024, he performed excision surgery.
• In June 2024, he performed excision surgery.
• He performed surgery that revealed stage four endometriosis.

Keywords: 995, all

Summary: The committee opened by explaining hearing procedures and time limits, then heard testimony on House 2499, a bill to create a public awareness campaign on menopause and related midlife health issues. Supporters, including a nurse, the Massachusetts Commission on the Status of Women, and other advocates, said menopause is widely misunderstood by patients and providers, leading to delayed care, unnecessary suffering, workplace impacts, and inequities in women’s health. Several speakers shared personal experiences with symptoms being dismissed or misdiagnosed and urged the committee to advance the bill. The committee then took testimony on a package of endometriosis bills, including House 2527 and Senate 1564, calling for a task force and broader awareness efforts. Patients, a physician, and advocates described long diagnostic delays, severe pain, infertility, medical gaslighting, and limited access to specialists and effective treatment. They argued for more research, provider education, and a coordinated state strategy, and several asked for favorable reports. The chair also noted the hearing was running behind and extended time to allow more testimony. Later, the committee heard Senate 1579, which would eliminate parental consent and judicial bypass requirements for abortion access for minors under 16. Planned Parenthood representatives, physicians, legal advocates, and students argued the current law creates unnecessary delays and harms vulnerable youth, especially those in unsafe homes or foster care, while supporters said minors can already consent to other reproductive health care. A pro-life witness opposed the bill and emphasized parental involvement and support services. The committee also heard House 2403 and Senate 1560, which would create a Human Service Transportation Consumer Advisory Board; disability advocates and riders described past safety problems and current service gaps, and supported the board as a low-cost way to improve accountability, rider input, and reliability. No votes or final actions were taken in the excerpt.

Transcript Highlights:

• </c> opportunity to set up a performance opportunity to set up a performance incentive<00:24:45.360><
• So, they performance incentive plan.
• </c> been there because of performance-based. been there because of performance-based.
• </c> &gt;&gt; We would also support performance-based &gt;&gt; We would also support performance-based
• </c> to pay a performance-based increase. to pay a performance-based increase.

Bills: HB1721, HB1714, HB1718, HB1732, HB1740, HB1777, HB1842, HB1919, HB1701, HB1923, HB1741, HB1734, HB1739

Keywords: housing, expedited permits, insurance, indemnification, construction, affordable housing, executive compensation, Hawaii housing finance, legislative approval, low-income housing, moderate-income housing, mixed-use development, transit-oriented development, TOD, county powers, Hawaii Housing Finance and Development Corporation, HHFDC, Department of Hawaiian Home Lands, DHHL, affordable housing credits

Summary: The House Housing Committee met on February 4 and heard testimony on several housing measures, beginning with HB1721, which clarifies insurance, indemnification, and certificate-of-occupancy requirements for expedited permits. Testimony on HB1721 was uniformly supportive from the American Council of Engineering Companies, the Grassroot Institute, and individual testifiers, who said the bill would fix insurance issues for design professionals and encourage more participation in the expedited-permit program. No opposition was heard and no questions were raised. The committee then heard HB1714, which would raise salary caps for the executive director and deputy executive director positions at the Hawaii Housing Finance and Development Corporation and allow more autonomy in personnel matters, including employment contracts. HHFDC supported the bill, saying greater flexibility is needed to recruit and retain staff and that current pay ceilings are not the main issue because the agency lacks operating funds to reach them. The Department of Human Resources Development offered comments and raised concerns about autonomous personnel authority and employment contracts, saying state personnel matters are governed by existing statutes and collective bargaining rules; the Hawaii Public Housing Authority also offered comments, and one board member and one individual opposed the measure. Members questioned whether performance-based pay or existing incentive policies could address retention instead of statutory salary changes. The committee also heard HB1718, which would make permanent county authority to facilitate mixed-use developments and issue county bonds for low- and moderate-income housing projects. Support came from OPSD, HHFDC, the City and County of Honolulu’s Department of Housing and Land Management, and Housing Hawaii’s Future, all emphasizing that permanent authority is needed to finance long-term mixed-use and transit-oriented projects. A member asked whether the sunset provision would make bonding impractical, and the city representative agreed that temporary authority would make financing difficult because development takes time. Later, the committee took up HB1732, establishing the Kamina Homes program to fund counties’ purchase of voluntary deed restrictions from eligible buyers. The Department of Taxation and several groups, including HHFDC, AARP Hawaii, the Tax Foundation of Hawaii, Hawaii Realtors, Holomua Collaborative, and others testified, with most supporting the bill as a way to help local families remain in Hawaii and age in place. Holomua said a recent survey found 75% of 3,200 working families were considering moving, and argued the bill could preserve housing for local residents. Members asked about the bill’s 8% cap on deed-restriction cost and why the program focuses on residency rather than resale restrictions; the bill’s proponents said the cap allows flexibility for county negotiations and that the measure is aimed at workforce preservation rather than land-trust-style appreciation limits. Finally, the committee heard HB1740, which would modify a prior HHFDC housing pathway by reducing the qualified-resident requirement from 100% to 80% and allowing more flexibility for long-term rental instead of owner occupancy. HHFDC and Holomua Collaborative supported the change, saying the earlier 100% requirement had produced no developments or applicants and that the revised standard would make projects more feasible while still preserving housing for local residents. The committee did not take final votes on these measures during the portion of the hearing provided.

Transcript Highlights:

• We're pleased to present AB 368, which would direct the CEC to evaluate the use of passive house energy
• This office, to be overseen by the Inspector General, would be responsible for performing audits of key
• The best metric we have to evaluating this very large agency's performance over the years is through
• as a constitutional agency, more accountability is needed for the public and the legislature to evaluate
• AB 1319 creates a clear and orderly process by which the state would evaluate the changes in federal

Keywords: 988, house, all

Transcript Highlights:

• </c><00:46:47.359><c> and</c><00:46:47.599><c> appropriate</c> psychological evaluation and appropriate
• So many of the people who have had these terrorist acts performed and the shootings and all, they have
• </c><00:48:55.680><c> and</c><00:48:55.920><c> the</c> terrorist acts performed and the terrorist acts
• performed and the shootings<00:48:56.559><c> and</c><00:48:56.800><c> all,</c><00:48:57.040><c> they
• </c><00:49:29.440><c> and</c> see us more so having them evaluated and see us more so having them evaluated

Bills: HB348, HB106, HB347, HB54, SB118, SB167, SB195, HB260, HB263, HB328, HB348, HB106, HB347, HB54, SB118, SB167, SB195, HB260, HB263, HB328

Keywords: bail reform, illegal aliens, violent offenses, pretrial detention, flight risk, court hearings, doxing, personal identifying information, harassment, online safety, law enforcement, public servants, penalties, consumer protection, illicit material, private rights, digital privacy, nonconsensual distribution, incarceration, pregnancy

Transcript Highlights:

• all aspects of the program to evaluate all aspects of the program and<00:08:53.000><c> develop</c><00
• Pretrial Services employs two frontline positions that perform separate but interconnected functions.
• Under the Chief's reorganization plan, all pretrial staff will be retrained to perform the full range
• I guess my question is, what is your plan Um, to kind of evaluate and make sure that you're keeping a
• and make sure that to kind of evaluate and make sure that you're<00:25:38.120><c> keeping</c><00:25:

Keywords: 958, all

Summary: The Budget Review Subcommittee on Justice and Judiciary received an update from the Administrative Office of the Courts on implementation of House Bill 504, the judicial branch budget, and court facility projects. AOC leaders said they do not anticipate problems balancing the outgoing biennium or fiscal year 2026, and explained that the budget changes were driven by the need to reduce costs while preserving required constitutional, court-rule, and statutory services. They also said the new filing fee increases authorized by HB 504 took effect that day and are expected to generate up to $5 million, while the reorganization is projected to save about $3 million in general fund dollars. The bulk of the presentation focused on a major reorganization of the Office of Statewide Programs, which includes specialty courts, family and juvenile services, and pretrial services. AOC said the plan eliminates 170 positions and creates 109 new ones, mainly by reducing middle-management layers, expanding regional service delivery, and cross-training staff. Officials said 110 employees had already been offered or accepted placements, 24 had chosen voluntary separation, and the final number of employees leaving remains fluid until the process concludes around August 1. They emphasized that specialty court programs were not eliminated, but state-funded treatment court contracts and behavioral health liaison positions were removed, with treatment costs shifted to Medicaid or participants where appropriate. Members asked about the process, staffing impacts, specialty court participation, juvenile services, and how AOC will monitor the changes. AOC said the reorganization was developed by leadership, HR, and legal staff under direction of the Chief Justice and approved by the Supreme Court, and that it is intended to improve efficiency and frontline support rather than reduce services. They said specialty court participant levels are being watched closely, that CDW services will continue to use outside providers for programming, and that the agency will keep judges and stakeholders informed as the new structure goes into effect. No votes were taken, and the committee did not approve minutes because a quorum was not present.

Transcript Highlights:

• I was not going to need to wait the two-plus weeks just for an initial evaluation.
• That evaluation happened on November 27th.
• I evaluated members for complex durable medical equipment.
• I evaluated members for complex durable medical equipment and home accessibility needs.
• if it's a standard wheelchair, and then within eight days after evaluation for a power chair.

Keywords: 995, all

Summary: The hearing of the Joint Committee on Consumer Protection and Professional Licensure opened with logistical remarks about testimony procedures, time limits, accessibility supports, and the large number of witnesses. The first bill discussed was H. 451, which would allow professional license applicants who do not have a Social Security number to use an ITIN instead. Supporters said the bill would help qualified workers, especially immigrants, enter licensed trades and professions without lowering training or testing standards, while addressing workforce shortages. Committee members asked a few questions, and the bill was framed as a uniform statewide licensing reform. The bulk of the hearing focused on S. 210 and H. 1278, two bills aimed at improving wheelchair repair and warranty protections. Supporters included the Attorney General’s Office, disability advocates, wheelchair users, clinicians, and legislators, who described long repair delays, missed work and medical appointments, loss of independence, hospitalizations, pressure injuries, and other harms caused by broken wheelchairs and slow service. They argued for stronger timelines, two-year warranties, required parts availability, loaner chairs, and enforcement mechanisms, with H. 1278 modeled on a Connecticut-style repair deadline and S. 210 focused on warranty protections. Several witnesses emphasized that wheelchairs are essential medical equipment, not ordinary consumer goods. Opposition came from NCart, which said it supports solutions but raised concerns that the bills, as written, could be difficult to implement for complex rehab technology. NCart said some warranty provisions may not fit wear-and-tear components and noted that MassHealth has already taken steps such as preventive maintenance, reduced prior authorization, and transportation support. Other witnesses and advocates countered that the current market is dominated by a few profitable companies and that the legislature needs to impose clear standards because voluntary fixes have not worked. The committee also heard testimony on S. 195, a toxic-free kids bill from Senator Comerford and Representative Hawkins, which would restrict PFAS and other toxic chemicals in children’s products and create disclosure and phase-out requirements. No votes were taken during the hearing.

Transcript Highlights:

• I have performed house design on the...
• I have performed house design on the beach in North Alabama all over the country.
• I've been called many times by insurance companies, attorneys, home builders, and homeowners to evaluate

Bills: SB186, SB212, HB566, SB186, SB212

Keywords: internet filtering, child protection, obscene content, civil liability, manufacturers, real estate, licensing, brokerage agreements, team structure, penalties, consumer protection, residential construction, architect approval, building regulations, engineering, single family homes, invisible disability, distinctive license plate, specialty plate, motor vehicle registration

Transcript Highlights:

• It is not intended to be a commentary. intended to be a commentary, nor an evaluation of the performance
• other ones, because they all bring extreme. value in their own aspects, or rely on other ones to perform

Keywords: Texas, Infrastructure Report Card, ASCE, population growth, climate change, investment, public safety, engineering standards

Summary: The meeting focused on the release of the 2025 Texas Infrastructure Report Card, highlighting key findings and recommendations for improving infrastructure across various sectors in the state. Julie Jones, Vice President of ASCE Texas, opened the session by introducing key speakers, including Dr. Art Wood and committee co-chairs Griselda Gonzalez and Austin Mazzarelli. Throughout the discussion, the report's grades were revealed, showing the state's infrastructure received an overall grade of 'C'—adequate but requiring significant attention and investment. Emphasis was placed on the rising challenges posed by climate change and increased population growth, underscoring the need for strategic investments in infrastructure to support Texas' economic growth and public safety.

Transcript Highlights:

• We are hoping to give them the opportunity to evaluate the merits of this action for all nonprofits.
• AB 2084 is a common-sense solution, giving FTB discretion to evaluate the appropriateness of state status
• This is about fairness and equity, ensuring that farm worker housing is evaluated based on the realities
• During that time, we added more than 100 self-performed construction workers to our payroll.
• The five-year window through 2032 is reasonable and gives the legislature time to evaluate and extend

Summary: The Assembly Revenue and Taxation Committee heard a series of bills focused on nonprofit tax status, housing, tribal land return, tax relief, economic development, journalism, reparations, manufacturing investment, and pawned property sales tax. The chair explained the committee’s suspense file process and noted that only AB 2270 and AB 2641 were eligible for immediate votes; other measures were referred to suspense after presentation. AB 2084 (Bauer-Kahan) would give the Franchise Tax Board discretion to delay or review revocation of state nonprofit tax-exempt status when federal status is revoked, and AB 2167 (Macedo) would clarify that tribally chartered corporations are eligible for existing tribal conservation land return tax exemptions. Both drew support from nonprofit and tribal representatives and were sent to suspense. AB 2270 (Arambula) sought to improve farmworker housing access to low-income housing tax credits by adjusting scoring criteria to reflect rural agricultural realities. Supporters said current amenity-based scoring disadvantages projects near farmland; the bill passed the committee 4-1 and was sent to Housing and Community Development. AB 2336 proposed excluding the first $25,000 of overtime pay and pension income from taxation; supporters framed it as affordability relief, while an opponent warned of major General Fund losses and a member raised the lack of an income cap. AB 2205 would reinstate the New Employment Credit to encourage hiring in high-unemployment areas, and AB 2222 would create refundable tax credits for local news organizations hiring journalists; both received strong support from business, labor, and media advocates and were referred to suspense. The committee also heard AB 2186, which would exclude future reparations payments from state income tax, with supporters arguing reparations should not be reduced by taxation; it was sent to suspense. AB 2377 would accelerate depreciation deductions for manufacturing equipment, with a larger benefit in high-need areas, and AB 2641 would extend the sales tax exemption for people repurchasing their own property from pawnbrokers, with the author agreeing to a five-year sunset amendment. AB 2641 passed 4-0 and was sent to Appropriations. After taking up the remaining roll calls for absent members, the committee adjourned.

Transcript Highlights:

• We are hoping with this to give them the opportunity to evaluate the merits of this action for all of
• AB 2084 is a common-sense solution, giving FTB discretion to evaluate the appropriateness of state status
• This is about fairness and equity, ensuring that farm worker housing is evaluated based on the realities
• During that time, we added more than 100 self-performed construction workers to our payroll.
• The five-year window through 2032 is reasonable and gives the legislature time to evaluate and extend

Keywords: 988, house, all

Transcript Highlights:

• section on dredging and filling and the requirements that the dredging and turbidity monitoring be performed
• consulting... ...and legacy of the Florida Community Trust, the FTC, by consolidating the project's evaluations
• Plus, we're expanding the individuals on that particular council so they could evaluate projects more
• But there is a five-year trigger, at least for the Springs B-MAPs, when they have to be re-evaluated.
• But there is a five-year trigger, at least for the Springs B-MAPs, when they have to be re-evaluated.

Summary: The Committee on Environment and Natural Resources met with a quorum present and took up several environmental bills and one confirmation. First, the committee considered SB 1422 on surface waters, which was amended with a strike-all focused on coral reef protection and designation of coral reefs as critical natural infrastructure. Senator Garcia described the amendment as a way to support restoration, disaster resilience, and access to federal funding; Audubon Florida waived in support. The committee adopted the amendment and then reported CS for SB 1422 favorably. The committee next considered SPB 7034, a DEP rule ratification concerning the Lower Santa Fe and Ichetucknee River minimum flows and levels and recovery strategy. Senator Rodriguez explained the rule would replace prior MFLs and allow longer permits, while opponents from the Florida Springs Council and local river advocates argued the plan relies too heavily on one future wastewater reuse project, delays restoration, and lacks a clear funding source. DEP and JEA waived in support. After debate, the committee approved the motion to submit the proposal as a committee bill; the measure was favorably reported, with Senator Smith voting no. The committee then heard SB 1510 on DEP-related matters, as amended. The strike-all addressed Outstanding Florida Springs B-MAP mediation plans, septic system upgrades where sewer is unavailable, rural cost-share eligibility, notice to property owners, rulemaking procedures, and land acquisition governance, while removing biosolids and fee provisions. Florida Springs Council opposed the 60-day delay for B-MAP effectiveness, saying it could slow restoration and allow more conventional septic systems to be installed before stricter requirements take effect. DEP and others supported the bill. The committee reported CS for SB 1510 favorably. It also heard SB 1196 on waste facilities, which would prohibit new ash-producing incinerators and waste-to-energy facilities within two miles of certain federally authorized water impoundment areas, with an amendment narrowing the bill to Miami-Dade and Broward County. Supporters, including the City of Miramar, said it would protect water resources and Everglades restoration; opponents from the Florida Waste-to-Energy Coalition warned it would limit local solid waste options and could force more landfilling. The committee adopted the amendment and reported CS for SB 1196 favorably. Finally, the committee considered SB 912 on battery collection and recovery, establishing a battery stewardship program and requiring producers and retailers to join a stewardship organization by 2028. Supporters from the battery industry and recycling sector said the bill would reduce fires and keep batteries out of the waste stream. The committee adopted the amendment and reported CS for SB 912 favorably. The committee also recommended confirmation of Gary Jennings to the Atlantic States Marine Fisheries Commission, and then adjourned.

Transcript Highlights:

• program as part of its annual wildfire report and engage in consultations to review the program performance
• It's through DNR's permitting process that mining proposals are evaluated for their potential to create
• How do those, when you're evaluating those, does the state's framework consider some of the economic
• That said, as I mentioned, we have qualified staff who evaluate these proposals and are often answering
• like I said, there are greater potential for impacts because there's no requirement for them to be evaluated

Bills: HB2104, HB2348, HB2454

Keywords: aviation, wildland fires, funding, disaster relief, emergency response, timber sales, land sales, process efficiency, legislation, department language, regulatory burdens, small producers, infrastructure materials, economic growth, manufacturing, 904, all

Transcript Highlights:

• So that from a performance standpoint, they may not be the best entities.
• A clear framework for evaluating federal funds.
• Unless there's some kind of sunset provision put on it, who actually evaluates it at the end of the day
• I think we might want to ensure that as we're evaluating these things, we're staying close to tax policy
• Better monitoring, stronger coordination, and consistent evaluation will help protect essential services

Transcript Highlights:

• of impacts to threatened evaluation of impacts to threatened endangered<00:41:52.319><c> species</c>
• You know, I don't, we don't have the capacity to be evaluating land use transfers and then following
• </c> loop for evaluating its effectiveness. loop for evaluating its effectiveness.
• And I'm not sure we're the right agency to perform that role.
• </c><02:09:57.679><c> that</c> we're the right agency to perform that we're the right agency to perform

Keywords: 1189, house, all

Transcript Highlights:

• This gives community members an opportunity to evaluate how changes would impact their safety and mobility
• within a couple of months of something going in, without having any ability to live with it, to evaluate
• You know... ...to live with it, to evaluate it, to have the public hearings that are necessary.
• CARB can then more regularly re-evaluate and adjust those targets based on future market conditions and
• The regions do have the incentives they need to... ...that the policies keep driving the performance.

Keywords: 988, house, all

Transcript Highlights:

• Client and counselor signatures are verified, performances reviewed monthly, and each provider receives
• an annual on-site evaluation.

Bills: HB2786, HB2787

Keywords: mental health, substance abuse, appropriation, state funding, emergency declaration, healthcare, State Department of Health, childbirth program, emergency funding

Summary: The committee first considered House Bill 2786, with Representative Stinson presenting a PCS as the working draft. He explained the bill as supplemental funding for the Department of Mental Health to close out its 2025 budget and pay obligations the department had fallen short on. The committee moved quickly to a do pass vote, and the bill was reported out 31-0 with no nays. The committee then took up House Bill 2787, with Representative West presenting a PCS as the working draft. She described the bill as a one-time $2 million supplemental for previously established costs tied to the Choosing Childbirth Program, saying the funding was needed to avoid a lapse in services for nearly 4,000 mothers and babies until the Oklahoma Pregnancy Care Network can re-enter bidding in 2028. She emphasized oversight and transparency measures, including provider vetting, invoice review, annual evaluations, and a reported 97% of expenses going to client services. Members raised concerns about accountability, transparency, and why the funding should come from state general revenue rather than private sources, noting prior audits and news reports. Representative West said the network is a 501(c)(3), uses private dollars as well, and that the program is a public-private partnership already established by law. She also said she would share the 2025 tax return information with the committee. The committee then voted to report HB 2787 out do pass by a vote of 26-5, and adjourned.

Transcript Highlights:

• and particularly want to pay extra attention to CalPERS' report on the annual CalPERS actuarial evaluation
• What I mean by that is each year our office, or the CalPERS office, performs an actuarial evaluation,

Summary: The Assembly Committee on Public Employment and Retirement and the Senate Committee on Labor, Public Employment, and Retirement held a joint hearing required by law to receive an independent report from the California Actuarial Advisory Panel on CalPERS. Chair McKinnor and Senator Smallwood-Cuevas opened by emphasizing CalPERS’ importance to retirement security for public employees and to the state budget. Scott Tarando, CalPERS Chief Actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029, including the use of CalPERS’ 6.8% discount rate and the need to show how changes in investment return assumptions and amortization periods affect liabilities, contribution rates, and budgets. Tarando explained that lower investment returns increase contribution rates and unfunded liabilities, while higher returns reduce them. He also described CalPERS’ 20-year amortization period for new unfunded liabilities, comparing it to a mortgage and noting that shorter periods raise near-term costs but reduce long-term interest costs. He said the CAP has recommended a 15- to 20-year range and that CalPERS’ current approach is intended to smooth volatility for a large, ongoing plan. Members asked about the meaning of average service lifetime, the timing of valuation data, whether more current data could be used, the effect of AI and workforce changes on assumptions, and whether contribution changes affect retiree benefits. Tarando said retiree benefits do not change with annual valuations, that CalPERS uses audited year-end data because it is the most reliable basis for rates, and that AI impacts are being monitored but are too early to quantify. Committee members also discussed CalPERS’ funded status, with Tarando saying it had improved from the mid-60% range about 10 years ago to around 79% at fiscal year-end and over 80% more recently, reducing pressure on employers and the state budget. Michael Cohen, CalPERS’ investment operations chief, said CalPERS had complied with federal information requests and that its annual audits are publicly available, but no formal federal review had been released. In public comment, a representative of the California State Association of Counties praised the improved funded status and the role of PEPRA reforms. The chairs closed by reaffirming CalPERS’ fiduciary duty and the goal of protecting retirement security for public workers; no votes were taken.

Transcript Highlights:

• and particularly want to pay extra attention to CalPERS' report on the annual CalPERS actuarial evaluation
• What I mean by that is each year our office, or the CalPERS office, performs an actuarial evaluation,

Keywords: 987, senate, all