Transcript Highlights:

• As I already mentioned, these student experiences, not only during their education, but to retain them
• have been gathered weekly and very carefully analyzed by our colleagues at the New Mexico Higher Education
• Madam Chair, Senator, the $95 million is reported by the New Mexico ATD, which is the Higher Education
• If anybody's interested, you can go to the October Federal Funding Stabilization Committee meeting, and
• item number six has a whole layout of the information that higher education has compiled, and at that

Transcript Highlights:

• There is a required criminal background check, continuing education, and it's renewed. every two years
• Where we really have an issue is in global stability in the supply chain.
• come out and work in this industry, and this stuff doesn't pan out, we've just reconfigured higher education
• We're paying for your supply, paying for your permitting, paying to educate your workforce, paying for
• licenses from other states with comparable licensing standards to navigate additional training, education

Bills: HB 11, HB 14, HB 132, HB 1584, HB 1606, HB 5061, HB 1041, HB 2286

Keywords: licensing, reciprocity, regulation, Texas Department of Licensing and Regulation, interstate agreements, nuclear energy, advanced reactors, energy security, grant programs, Texas Advanced Nuclear Energy Office, HB 132, Texas Government Code Chapter 418, Public Information Act, confidential records, homeland security, foreign adversary, terrorism, critical infrastructure, emergency response, law enforcement

Summary: The meeting was a thorough exploration of multiple bills, most notably focused on innovative energy solutions and public safety enhancements. Key discussions centered around HB14, which aims to bolster the state's nuclear energy capabilities through the establishment of a Texas Advanced Nuclear Energy Office. Senators and expert witnesses discussed the potential of nuclear power as a clean energy source and a strategic necessity for Texas's growth. There was strong support for the bill, with various stakeholders highlighting its importance for the future energy landscape. Additionally, other bills like HB132 addressed the need for enhanced confidentiality protections regarding sensitive information, while HB1584 sought improvements in power restoration procedures during emergencies. Overall, the committee engaged with multiple viewpoints, balancing innovation with safety and ethical considerations.

Transcript Highlights:

• So our goal here is not to create any new programs, but rather simply educate and inform our veterans
• And so if this bill will help us to, to just educate a small percentage of those that are eligible for
• What strategies could Texas employ to maintain the guard readiness and economic stability potentially
• So if I can just quickly speak to you specifically the education piece, many of the systems, the GI Bill
• For education, they all have a federal service requirement tied to them, whether it be 90 days, 180 days

Bills: HB39, HB227

Keywords: public school finance, property values, homestead exemptions, funding allocation, education policy, HB227, kratom, Mitragyna speciosa, kratom products, kratom processor, kratom retailer, controlled substances, Texas Controlled Substances Act, Health and Safety Code, Penalty Group 1, tianeptine, 7-hydroxymitragynine, mitragynine, synthetic kratom, kratom alkaloids

Transcript Highlights:

• A single-payer health system is akin to our public education system.
• A single-payer health system is akin to our public education system. Every child in Massachusetts.
• A single-payer health system is akin to our public education system.
• Every child in Massachusetts has a right to a great education, and it is paid for by taxes.
• Even when I talked about how seriously it interfered with my ability to continue my education, to work

Keywords: 995, all

Summary: The Joint Committee on Health Care Financing held a public hearing on 16 bills, with the chairs noting a busy legislative day and asking speakers to keep testimony brief. The committee first heard testimony on Senate 860/House 1405, the Medicare for All bill, with Sen. Jamie Eldridge and many advocates, clinicians, municipal officials, and patients arguing that a single-payer system would make care a right, reduce administrative waste, lower costs, and protect residents from rising premiums, medical debt, and hospital closures. Several speakers cited the Steward hospital crisis, affordability problems, and polling or ballot questions showing public support for single-payer coverage. No vote was taken during the hearing. The committee then took testimony on S. 863, a bill on non-opioid options for chronic pain. Pain specialists, patients, and advocates said the bill would improve care coordination for MassHealth members, expand access to non-opioid medications, require provider education, and collect data on chronic pain. Testifiers described long delays in diagnosis and treatment, stigma toward pain patients, and the need for multidisciplinary care and transportation support. Again, the committee heard testimony only and took no action. A large portion of the hearing focused on H. 1360/S. 869, which would prevent discrimination against people with disabilities in health care. Disability advocates, clinicians, and patients described being denied or delayed care, pressured into DNR orders, or treated based on assumptions about quality of life rather than medical facts. Speakers referenced COVID-era crisis standards of care, discriminatory metrics, and personal stories involving canceled procedures, inadequate accommodations, and poor treatment in hospitals. Committee members thanked speakers for their testimony and said they would review the bill and its implications, but no vote was announced. The committee also heard testimony on H. 1399, an individual Medicare marketplace option for municipal retirees, where supporters said it would give cities and towns a lower-cost alternative for retiree health benefits through HRAs and individual Medicare plans. The hearing then returned to Medicare for All testimony, with additional supporters repeating arguments about cost, access, municipal budget pressure, and the need for global budgeting and universal coverage. The transcript ends with continued testimony and no recorded committee vote or final action on any bill.

Transcript Highlights:

• ... ...and ensure the security and stability of critical technologies.
• Your best educated guess.
• No, your best educated guess on what would be the reason why we’d have a sex offender registry?
• Your best educated guess. No. was not in the legislature when we put the registry in a place.
• Your best educated guess.

Keywords: 959, house, all

Transcript Highlights:

• HB 428, as amended through everything that the chairman did, helps create stability, predictability,
• HB 428, as amended through everything that the chairman did, helps create stability, predictability,
• HB 428, as amended through everything that the chairman did, helps create stability, predictability,
• HB 428, as amended through everything that the chairman did, helps create stability, predictability,
• </c> appropriate events and educational appropriate events and educational activities.<01:16:39.520><

Keywords: 928, house, all

Summary: The committee first heard Senate Bill 94, which would prohibit municipal amendments to the state building code and move New Hampshire toward a more uniform statewide code. Senator McConi and several supporters, including the Josiah Barlo Center for Public Policy, the State Fire Marshal, the Associated General Contractors of New Hampshire, and the New Hampshire Homebuilders Association, argued that local variations create confusion, raise housing costs, and make compliance harder for builders operating in multiple towns. The Fire Marshal said the goal is a single state building and fire code with only limited administrative amendments at the local level, not technical changes, and noted that municipalities could still seek exceptions through the Building Code Review Board if needed. The chair explained that a similar House bill was already moving forward with fire code and administrative amendment language, and members agreed that retaining SB 94 would avoid conflicting bills. The committee then voted to retain SB 94 by roll call, 13-0, with no minority report. The committee then took up Senate Bill 30, which would designate the Virginia opossum as New Hampshire’s state marsupial. Senator Fenton presented the bill as a light-hearted measure inspired by Chesterfield School fourth graders, who had submitted written testimony and supported the idea. Members discussed the bill in a humorous but mostly supportive way, with one member objecting that it trivialized the legislature, while others said it could help engage students in the legislative process. The committee voted ought to pass on SB 30, 11-2, and agreed to place it on consent with no minority report. Later, the committee opened a hearing on Senate Bill 95, concerning youth camp cabins and state fire/building codes. Senator McConi said the bill would exempt new residential cabins in youth recreation camps from sprinkler requirements and allow them to omit electrical, mechanical, or plumbing systems, while requiring any such systems that are present to comply with state code. He said the measure was intended to resolve recurring interpretation problems that have caused expense and uncertainty for camp owners, and he praised work with the Fire Marshal’s office to reach a workable compromise. Representative Schmidt asked about cabin sizes and whether larger cabins with multiple occupants would still be safe; the senator explained that camps typically use counselors, drills, and supervision, and that the people behind him could answer more detailed questions. The transcript cuts off before the hearing concludes or any vote is taken on SB 95.

Transcript Highlights:

• provide solvency and financial impairment protections for the pools, ensuring predictability and stability
• provide solvency and financial impairment protections for the pools, ensuring predictability and stability
• Yeah, so the most common is, for example, special education expenses. Those things come up.
• Yeah, so the most common is, for example, special education expenses. Those things come up.
• </c><02:28:51.040><c> expenses</c> for example special education expenses for example special education

Keywords: 1191, senate, all

Transcript Highlights:

• The select board recommended passage of the creation of a vocational education stabilization fund, putting
• “The select board recommended passage of the creation of a vocational education stabilization fund, putting
• I'm sure there are many educated, talented residents at the local Sudbury level and the state level who

Keywords: 1212, all

Transcript Highlights:

• be able to hold back certain dollars that need to go to different programs like mental health or education
• be able to hold back certain dollars that need to go to different programs like mental health or education
• I recently retired after decades working in public education and public health, and I am here in strong
• When families have stability, when communities have opportunity, and when people can afford the basics
• of living, strengthening public schools, protecting civil rights, and investing in the health and stability

Bills: SB1032, SB1055, SB1107

Keywords: corrections oversight, funding, state budget, criminal justice, reform, immigration enforcement, law enforcement, illegal aliens, state legislation, civil penalties, peace officer certification, police certification, law enforcement licensing, Arizona POST, peace officer standards and training, military police, veterans, honorably discharged, veteran hiring, abbreviated academy

Transcript Highlights:

• enhanced disaster response, coordinate agency action across the food system, and support nutrition education
• Mitch Denning, representing the Alliance of Educational Associations, the School Nutrition Association
• struggle, Washingtonians lose access to fresh local food, and we see the downstream impacts in health, education
• , and economic stability.
• These challenges threaten not only their livelihoods, but also the stability of our local food supply

Bills: HB2104, HB2554, HB2619

Keywords: aviation, wildland fires, funding, disaster relief, emergency response, tribal rights, fishing rights, salmon management, state-tribal agreements, natural resources, agriculture, regulations, farming, compliance, economic impact, 904, all

Transcript Highlights:

• enhanced disaster response, coordinate agency action across the food system, and support nutrition education
• Mitch Denning, representing the Alliance of Educational Association, the School Nutrition Association
• Washingtonians lose access to fresh local food, and we see the downstream impacts in health, in education
• , and economic stability.
• These challenges threaten not only their livelihoods, but also the stability of our local food supply

Summary: The Senate Agriculture and Natural Resources Committee held public hearings on several House bills. ESHB 2238 would require the Department of Agriculture to develop a statewide food security strategy, monitor food system performance, and report on agricultural regulatory costs and competitiveness; the sponsor and many stakeholders from agriculture, food banks, school nutrition, counties, and advocacy groups supported it as a coordinated response to food insecurity and farm viability, while one requested amendment was addressed on the House floor. HB 2199 would expand the derelict vessel removal program by changing the definition of derelict vessel to allow earlier intervention when vessels are unregistered for two annual periods; ports, local officials, and environmental advocates testified in support, and the bill had no fiscal impact noted. HB 2104 would remove the sunset from the Aviation Assurance Funding Program for wildland fire response, with support from fire chiefs and the sponsor emphasizing its value for rapid initial attack and cost savings. HB 2554 would repeal statutes from Initiative 456 that conflict with treaty fishing rights; the Attorney General’s Office, Department of Fish and Wildlife, and the sponsor supported repeal as necessary to remove unenforceable anti-tribal language, while testimony comments showed substantial opposition. HB 2619 would create a legislative task force to review regulatory stress in agriculture and recommend changes; the sponsor linked it to farmer mental health and suicide prevention, and there was no public testimony. HB 2343 would require public game farms operated by Fish and Wildlife to obtain water discharge permits and meet manure/runoff controls; staff noted it would apply to the known public facility and carry modest compliance costs, with no public testimony. The committee also unanimously waived the five-day notice rule for HB 2104, 2554, 2619, and 2343, and closed the hearings without taking final votes, planning to consider all six bills in executive session at a later meeting.

Transcript Highlights:

• wondering if somebody could explain why the project is in the Human Service Bill and not in some education
• But in that conference committee, we went through the priorities that we have for early childhood education
• My only question was, from your understanding, how did they get this back in this bill versus an education
• Funding for youth crisis stabilization pilot project, $3 million.
• There is $1.5 million for youth crisis stabilization. 4.4 was in a section and is also included in this

Bills: SB2015

Keywords: corrections, rehabilitation, prison budget, department of corrections, adult services, youth services, correctional facilities, Heart River correctional center, Missouri River correctional center, James River correctional center, minimum security facility, county jails, regional jails, deferred maintenance, capital construction, strategic investment and improvements fund, Bank of North Dakota, line of credit, tasers, body cameras

Summary: The Senate Appropriations Human Resources Division met with all members present and took up several bills, focusing most of the discussion on SB 1577 and SB 1619, along with a detailed review of the HHS budget bill draft. On SB 1577, Senator Magrum explained that the bill was being revised to focus on wastewater rather than raw water, possibly shifting the Washburn project to the Department of Water Resources so it could access matching funds, and potentially converting the bill into a line of credit if federal money is restored later. Members discussed whether to keep an emergency clause or instead use a date-based approach, and agreed the bill would likely be handled through the full committee and possibly reconsidered later. On SB 1619, Senator Davison said amendments were still being worked on, including changes requested by the Bank of North Dakota, and the committee planned to hold it for possible amendment before full committee consideration. The bulk of the meeting was a section-by-section review of the HHS appropriations bill draft. Members discussed one-time funding items such as technology projects, child care programs, housing programs, behavioral health facility grants, infant and toddler care provider support, juvenile justice diversion, medical housing, and other public health and human services projects. Several adjustments were noted, including reductions or changes to IMD-related funding, incarcerated-person treatment funding, the child welfare technology project, and the provider rate increase. The committee also discussed the FTE block grant structure at length, with staff explaining that the apparent increase in positions reflected budgeting mechanics, zero-dollar “phantom” positions, and positions approved previously but not counted in the FTE total. Members raised concerns about transparency and whether the bill should list FTE numbers, but staff said the block grant was intended to give the department flexibility while quarterly reporting would provide oversight. Other topics included Medicaid expansion funding and provider reimbursement rules, the move toward certifying human service centers as certified community behavioral health clinics, a moratorium on new ICF beds, and studies or reports on Medicaid, obesity, disability services, truancy, and behavioral health facility grants. The committee also discussed removing or revising broad intent language in Section 31 so the department would report findings rather than implement changes without further legislative action. No final votes were taken in the transcript; instead, members agreed to make a few technical adjustments, continue reviewing the bill, and likely revisit it the next day before moving it to conference committee.

Transcript Highlights:

• relative to extending until Wednesday, December 17, 2025, the time within which the Committee on Education
• Kishmerich relative to Hispanic-serving institutions in higher education to the Committee on Higher Education
• An act relative to stabilization funds in the town of Leicester. House No. 4136.

Keywords: 995, all

Summary: The House opened with the Pledge of Allegiance and then took up several Committee on Rules reports. It adopted resolutions commending Plymouth on becoming the 451st International City of Peace and honoring the Massachusetts Pain Initiative for recognizing September 2025 as Pain Awareness Month. The House also adopted orders extending reporting deadlines for the committees on Community Development and Small Businesses, Education, Environment and Natural Resources, Health Care Financing, and Telecommunications, Utility, and Energy. The chamber concurred in a Senate referral sending a petition on modernizing permitting for certain transportation loads to the Committee on Transportation. It also suspended Joint Rule 12 for several petitions, including proposals on pipe-fitting exemptions, Hispanic-serving institutions in higher education, and adding bone marrow and organ donation to the Paid Family and Medical Leave Program. The House then approved a slate of bills for consideration, including measures on gender-neutral election-law language, several Haverhill civil service exemptions, improved headlight safety, a Natick civil service exemption, and a sick leave bank for Aidan Daniels. After suspending Rule 7A, the House gave second reading and ordered several bills to a third reading. It then passed to engrossment local bills concerning the Natick town home rule charter, Rochester governance, and Leicester stabilization funds. On House No. 3392, designating September as PCOS Awareness Month, the House adopted an emergency preamble amendment offered by Representative Walsh and then passed the bill as amended to engrossment. The House also observed a moment of silent tribute requested by Representative Jones for political activist Charlie Kirk, with remarks condemning the killing and calling for civil discourse. Finally, the House adopted an order to meet again Wednesday at 11 a.m. and adjourned accordingly.

Transcript Highlights:

• </c> education, and community participation. education, and community participation.
• </c> pass a WEOA act out of the um education pass a WEOA act out of the um education committee<02:29:
• You're just trying to stabilize it. You're just trying to stabilize it.
• You're just trying to stabilize it. You You're just trying to stabilize it.
• </c> with less than a high school education. with less than a high school education.

Keywords: U.S. House of Representatives Floor Proceedings on Thursday, March 19, 2026, 1012, house, all

Transcript Highlights:

• What we'd really like to do right now is educate the committee on the history and then the implementation
• In adopting the Forest and Fish law, the legislature emphasized regulatory predictability and stability
• It is stabilizing a lot.
• It is stabilizing a lot. Thank you. to work. The other thing is the funding.
• It is stabilizing a lot.

Summary: The committee held a work session on the history, implementation, and current challenges of Washington’s Forest and Fish law and related Habitat Conservation Plan. Testimony from tribal representatives Jim Peters and David Herrera, former Rep. Jim Buck, and mediator Tim Thompson described the original timber, fish, and wildlife negotiations as a broad, collaborative effort intended to balance salmon and habitat protection with a viable timber industry. DNR’s Sabur Jawad outlined the program’s statutory framework, the roles of DNR, Ecology, Fish and Wildlife, tribes, local governments, landowners, and the Forest Practices Board, and explained that changes to aquatic-resource rules can come through adaptive management, legislative direction, or court orders. He also described the permitting and enforcement system, the programmatic HCP, road maintenance and abandonment work, and the adaptive management process, including the long-running NP stream-buffer studies and resulting rulemaking timeline. Agency and stakeholder testimony emphasized accomplishments such as decades of HCP coverage, annual compliance monitoring, road and fish-barrier improvements, small forest landowner assistance programs, and the completion of numerous adaptive management studies. DNR’s Katie Allen said the program has strong successes but also faces resource-intensive implementation, rising costs, and watershed-wide pressures beyond forestry, and she pointed to a State Auditor review that produced 13 recommendations now being addressed through an action plan and a structured decision-making model. Washington Farm Forestry Association executive director Elaine O’Neill said small forest landowners supported the agreement expecting assistance and flexibility, but argued the balance has shifted toward more protection and less practical consideration of rural vitality and property rights. Washington Forest Protection Association executive director Jason Spadero said the agreement has produced measurable environmental gains and regulatory predictability, but criticized the recent NP rule and urged continued science-based, economically balanced management. In the final discussion, tribal representatives said the collaborative, consensus-based process still works in some areas, but that the principals need to be re-engaged more directly and periodically to restore accountability and trust. They said the adaptive management process and funding remain important, but expressed concern that consensus has broken down in some recent rulemaking and that side negotiations or outside pressure can undermine the original agreement. Members asked how to restore the collaborative model; Peters suggested renewed commitment from the principal parties and more regular high-level meetings, while Herrera echoed the need to implement the auditor’s recommendations. No formal votes or legislative actions were taken during the work session.

Transcript Highlights:

• </c><00:08:33.719><c> more</c> issue in early childhood education more issue in early childhood education
• </c> retention burnout and overall stability retention burnout and overall stability of<00:09:25.920>
• </c> experience after receiving an education experience after receiving an education in<00:14:07.440>
• </c> obtained my master's degree in education obtained my master's degree in education Administration
• So they have to get an education.

Bills: HF1247, HF628

Keywords: child care, aides, supervision, child care centers, staffing regulations, childcare, day care, licensed child care center, early childhood education, child care licensing, director qualifications, staff ratios, group size, staff-to-child ratio, substitutes, volunteers, assistant teacher, teacher qualifications, infant care, toddler age

Transcript Highlights:

• Educate and train those who serve Medi-Cal members.
• There's something called graduate medical education.
• Many years have passed since they've had to think seriously about how to stabilize and support these
• Can you please help educate me on this?
• These changes create a real risk for stability in behavioral health and social service systems.

Summary: The subcommittee heard an extended briefing on the impacts of H.R. 1 on Medi-Cal and CalFresh, followed by testimony from the Legislative Analyst’s Office and county officials. DHCS described major Medi-Cal changes in H.R. 1, including work/community engagement requirements, six-month redeterminations, reduced federal matching for some emergency services, narrower immigrant eligibility, reduced retroactive coverage, and limits on provider taxes and directed payments. CDSS outlined CalFresh changes, especially the expanded able-bodied adults without dependents time limit, reduced exemptions and waivers, and the new federal-state-county administrative cost split. Both departments emphasized implementation plans, automation, outreach, and county coordination, while acknowledging significant expected coverage losses and administrative burden. The LAO and an independent policy expert discussed how H.R. 1 could increase demand on county indigent care systems and public hospitals as people lose Medi-Cal. They reviewed the history of county indigent care, 1991 realignment, and AB 85, explaining that counties already rely on a patchwork of funding and that current realignment revenues are often used for public health rather than indigent care. They warned that counties may face large increases in uninsured residents, with wide variation in how counties respond, and raised concerns about equity, financing, and whether a more standardized state-county program should be created. Committee members pressed witnesses on county funding, exemptions, homelessness, older adults, undocumented residents, and the effect of administrative burden versus true ineligibility. County representatives from Los Angeles, Santa Clara, Tulare, and San Bernardino described the expected local impacts and asked for additional state support. They said H.R. 1 would drive major losses in Medi-Cal and CalFresh enrollment, increase uncompensated care, strain eligibility staff, and worsen homelessness and food insecurity. Several counties urged the Legislature to fund eligibility workers, preserve enrollment, and consider a CalFresh match waiver; Santa Clara and San Bernardino also cited local tax measures and staffing reductions already underway. No formal vote or committee action was taken in the portion provided.

Transcript Highlights:

• Educate and train those who serve Medi-Cal members.
• There’s something called graduate medical education.
• Many years since they’ve had to think seriously about how to stabilize and support these programs.
• Can you please help educate me on this?
• These changes create a real risk for stability in behavioral health and social service systems.

Keywords: 987, senate, all

Transcript Highlights:

• contribution rates, it allocates risk between current and future taxpayers, and it affects the funding stability
• These are people who spent their careers keeping our communities safe, educating our children, and running
• best financial interest of beneficiaries and retirees, not politics, not ideology, but prudence, stability

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. Opening remarks emphasized CalPERS’ role in providing retirement security for about two million members and the importance of pension funding to the state budget, especially amid economic uncertainty, market volatility, federal policy changes, and concerns about future fiscal pressure. Scott Tarando, CalPERS chief actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029. He explained that CalPERS’ current discount rate is 6.8%, that lower investment returns increase contribution rates and unfunded liabilities, and that the plan uses a 20-year amortization period for new unfunded liabilities. He said CAP has recommended a reasonable amortization range of 15 to 20 years and that CalPERS’ longer smoothing period helps reduce volatility in employer contributions. He also explained the timing of actuarial data: the valuation used for current contribution rates is based on the prior fiscal year’s audited data, with the next year’s rates developed later in the annual cycle. Members asked about the relationship between average employee service life and amortization, whether current market and AI-related changes could justify using more current data, whether pension benefits change when valuations are updated, and how CalPERS’ funded status has changed over time. Tarando said retiree benefits do not change based on annual valuations, that the system’s funded status has improved from roughly the mid-60% range about a decade ago to around 80% or higher more recently, and that CalPERS is monitoring possible long-term workforce effects from AI but sees no immediate need to change assumptions. Michael Cohen of CalPERS said the system complies with information requests and is independently audited annually, but there has been no formal federal review released. In public comment, a representative of county governments praised the improved funded status and PEPRA reforms. The hearing concluded with remarks reaffirming fiduciary responsibility and the importance of protecting CalPERS beneficiaries.

Transcript Highlights:

• contribution rates, it allocates risk between current and future taxpayers, and it affects the funding stability
• These are people who spent their careers keeping our communities safe, educating our children, and running
• best financial interest of beneficiaries and retirees, not politics, not ideology, but prudence, stability

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. Opening remarks emphasized CalPERS’ role in providing retirement security for roughly two million members and the importance of actuarial assumptions to state budgeting and long-term pension health. Scott Tarando, CalPERS chief actuary and a CAP member, presented the report with Michael Cohen of CalPERS’ investment office available for questions. Tarando explained the statutory disclosure requirements under Government Code Section 2029, including sensitivity analysis around CalPERS’ 6.8% discount rate, and discussed how investment return assumptions and the 20-year amortization period affect contribution rates, unfunded liabilities, and budget volatility. He said shorter amortization periods would raise near-term costs but reduce long-term interest costs, and noted that CalPERS’ current approach is intended to smooth contribution changes over time. He also described the timing of the annual valuation process, explaining that contribution rates for a given fiscal year are based on the most recently audited year-end data and are approved by the board before being used in the budget process. Members asked about the relationship between average employee service life and amortization, whether more current data could be used, the effect of AI and labor-market changes on future assumptions, whether retirees’ benefits change with annual valuations, and CalPERS’ funded status. Tarando said the average expected working lifetime is about 11 to 12 years, while CalPERS uses a 20-year amortization period; he also said retiree benefits are set at retirement and do not change based on later valuations. He estimated CalPERS’ funded status had risen from the mid-60% range about 10 years ago to around 79% at June 30 and above 80% more recently. Cohen said CalPERS had complied with federal information requests and that no formal federal review had been released. During public comment, a county association representative praised the improved funded status and PEPRA reforms. The chairs closed by reiterating fiduciary responsibility and the need to protect CalPERS’ long-term stability, and the meeting adjourned.