Bills: HB2437, HB1815, HB1614, HB1613, HB1612, HB2411, HB2597, HB2583, HB2474, HB1863, HB2590, HB1813, HB1838, HB2138, HB1967, HB1576, HB2139, HB1605, HB2113, HB812, HB1831, HB1707, HB2561, HB1805, HB2469, HB2472, HB2387, HB1658, HB1661, HB1664, HB1859, HB2276, HB2335, HB1656, HB2116, HB2272, HB2273, HB2340, HB2158, HB2339, HB2489, HB2159, HB2171, HB2338, HB2005, HB1952, HB1872, HB1676, HB2384, HB2614, HB20, HB1776, HB1565, HB2310, HB1975, HB1801, HB1668, HB2114, HB1972, HB1546, HB1518, HB1131, HB2208, HB2156, HB2268, HB2622, HB2581, HB2498, HB2443, HB1577, HB2033, HB2031, HB2023, HB1969, HB1973, HB1974, HB2315, HB2343, HB2501, HB2505, HB816, HB1562, HB1591, HB1853, HB1854, HB1871, HB1965, HB1966, HB1537, HB1541, HB276, HB2606, HB2270, HB1920, HB1756, HB1727, HB1718, HB1715, HB1713, HB1711

Keywords: arts education, student engagement, cultural literacy, public schools, funding, State Foundation on Culture and the Arts, SFCA, Performing Arts Grants Program, arts grants, culture and the arts, history and the humanities, King Kamehameha Celebration Commission, Works of Art Special Fund, one percent for art, public art, art in public places, relocatable works of art, DBEDT, Department of Business, Economic Development, and Tourism, DAGS

Transcript Highlights:

• And contributions overall are 4.65%.
• A 30% contribution to that work. We're giving...
• This is the last year phasing those contributions in.
• Contribution increases would be ideal.
• We've been talking about employee contributions and employer contributions to help get us through this

Transcript Highlights:

• I could look at contributions from itemized contributions because itemized contributions have the address
• c> contributions<00:40:26.440> made<00:40:26.720> by applies to contributions made
• , assigned to the contribution.
• <01:05:29.880> he thankful for all contributions he thankful for all contributions he contributes
• contribution contribution refund.<01:15:26.960> revenue.

Keywords: 1187, senate, all

Transcript Highlights:

• . contribution. contribution.
• We have employer contributions contributions contributions 1.363 1.363 1.363 uh<00:59:43.599> billion
• Uh, the employer contributions...
• Uh, the employer contributions there is a fixed statutory rate for employer contributions.
• contributing uh to health insurance. contributing uh to health insurance.

Keywords: 958, all

Summary: The meeting opened with a quorum call, the Pledge of Allegiance, a prayer, and approval of the prior meeting minutes. The first presentation was from Bo Craycraft of the Judicial Form Retirement System, who gave an update on investment performance, asset allocation, cash flow, and projected employer costs. He reported strong fiscal year 2025 investment results, with both the legislative and judicial retirement plans outperforming their actuarial assumed rates of return and benchmarks, driven largely by U.S. equity performance. He also noted the plans remained near their target asset allocation and continued to experience negative cash flow, though he said that was manageable in context of strong asset growth. Craycraft then discussed a recent experience study and actuarial assumption changes, especially a revised salary growth assumption and a higher cash balance interest credit rate. He said these changes increased projected employer costs, with contributions rising from about $700,000 to a projected $2 million in later years, though he expected the eventual 2025 valuation and investment gains to reduce that estimate. Members asked about mortality assumptions, the impact of the experience study on liabilities, and the sharp increase in the judicial plan’s projected employer cost. Craycraft explained that the increase was driven mainly by the updated assumptions and that no other major plan changes were involved. At the chair’s request, Craycraft also addressed the recent rise in Medicare Advantage premiums for the plan’s health coverage, saying the 2025 increase was largely tied to Part D changes and the Inflation Reduction Act and had been about 45%, but that future growth was expected to be under 5%. After his presentation, the committee moved to the Kentucky Public Pensions Authority update, where the next speaker began by saying the funds had exceeded actuarial assumed returns for the fiscal year.

Transcript Highlights:

• 2025, which projects the contribution rate beginning July 1, 2026.
• So the projected contribution rate for beginning 2026, So the projected contribution rate for beginning
• We were changing the aggregate contribution rate to 30.05% with a required projected employer contribution
• So the 30.05% is an aggregate contribution rate.
• The next slide shows the employer contribution rate change breakdown.

Keywords: 965, house, all

Summary: The Public Retirement System Actuarial Committee met on Monday, June 22, with a quorum present and approved the prior meeting minutes. There was no public comment. The main item was an actuarial update from Ms. Johnson on LASERS, prompted by House Bill 312 of 2026, which appropriated about $145 million to LASERS and required the committee to revise the projected fiscal year 2027 employer contribution rate to reflect the funds received. Ms. Johnson explained that $87.6 million was applied to the original amortization base, paying it off, and the remaining $57.9 million was applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for fiscal year 2027 was reduced from 32.51% to 30.05%, a decrease of 2.46%, with the projected employer contribution amount revised to about $738.7 million. She also noted that the original amortization base balance would be zero by June 30, 2026, while the experience account amortization base would continue to be paid down over time. Committee members asked about the longer-term impact of the changes, including a question about projected savings in 2036. Ms. Johnson said the later-year savings would depend on future actuarial experience and investment performance, but the projected UAL payment in that year would be lower under the revised schedule. The committee then moved to adopt the revised projected fiscal year 2027 LASERS contribution rate of 30.05% by plan, the motion was seconded, and it passed without opposition. The meeting then adjourned.

Transcript Highlights:

• contributions?
• It increased employer contributions and employee contributions, and it also decreased the COLA.
• That's the contribution. Recommended actuarial contribution change.
• And the employee contributions where we're at today.
• And, Madam Chair, the 8.76 contribution deficiency.

Transcript Highlights:

• Are your current contribution levels able to reduce pension debt?
• Other common approaches include shared employee contributions.
• And that ERB is contributing 10.7%.
• , employer contributions, and benefits.
• Our statutory contribution rate is a big decision.

Transcript Highlights:

• It requires, for contributions over $5,000, that you actually know who the original source of that contribution
• So Motans for Hot Dish could still get a contribution from Motans for Wild Rice, but if that contribution
• If you're contributing less than $5,000, that contribution into the independent expenditure doesn't need
• hot dish could still get a contribution hot dish could still get a contribution from<00:20:40.600
• um that that uh contribution into $5,000 um that that uh contribution into the<00:21:11.240> independent

Keywords: 1183, house

Transcript Highlights:

• > throughout employee contribution rate throughout employee contribution rate throughout the<00
• our folks will be contributing in July. our folks will be contributing in July.
• putting contributions in and contributions<00:23:28.400> been<00:23:28.559> coming<00:
• 23:28.720> out,<00:23:28.960> the contributions been coming out, the contributions been
• <01:31:35.199> And contribution relatively close. And contribution relatively close.

Keywords: 1187, senate, all

Transcript Highlights:

• The legislature, I believe in 2018, stopped that contribution and diverted Those contributions to the
• It increased contributions from employees and employers.
• Again, we had the contribution increases.
• What would that cost in the form of contributions?
• Contribution rates. Those contribution rates, I know municipal...

Transcript Highlights:

• Pay out more in benefits than we take in in contributions.
• The member is not required to make return-to-work contributions.
• The contributions include the contributions from employees.
• Comparison of what comes in via contributions.
• So, all those contribution rates may be different.

Transcript Highlights:

• Next year, we would be considering actual contribution rates for that 27-29 biennium.
• Next year, we would be considering actual contribution rates for that 27, 29 by NEM.
• If you make more, you contribute more. If you make less, you contribute less.
• And if you don't make anything, you don't contribute anything.
• I move that we adopt the recommended contribution rate of 0.58%. Second. Okay.

Summary: The Pension Funding Council met on October 8 with introductions from council members and staff, then received a detailed presentation from the Office of the State Actuary on long-term economic assumptions and the state pension systems’ financial condition. OSA reported that the combined pension systems are currently 100% funded on a smoothed basis, with open plans above 95% funded, and that legacy Plan 1 systems remain on a path toward full funding under current policy. The actuaries recommended updating assumptions to 3% inflation, 3.5% general salary growth, and a 7.25% investment return, while keeping Plan 1 membership growth at 1%. They also explained asset smoothing, the role of recent strong investment returns, and the expected budget impacts of the recommended changes. Representatives from the Economic and Revenue Forecast Council and the State Investment Board offered supporting perspectives, generally describing the assumptions as reasonable and consistent with their own outlooks. The council also heard an overview of the Long-Term Services and Supports Trust Program (WACares) from DSHS and OSA. Program staff described the program’s social insurance structure, premium collection, benefit eligibility, and upcoming implementation milestones. OSA reported that the program’s first actuarial valuation showed a positive actuarial balance under the base scenario and recommended no change to the current 0.58% premium rate during the program’s early learning phase, noting that future changes would depend on experience and the program’s risk-management framework. OSA also said the recommendation would remain the same regardless of the outcome of the pending ballot measure affecting investment options. During public comment, a representative of the Washington State School Retirees Association urged continued work on Plan 1 funding and related legislation, while the Association of Washington Cities cautioned against increasing pension assumptions in a way that could raise future employer costs and reduce flexibility for current local government services. In action, the council adopted a motion to maintain the current long-term economic assumptions by a 4-2 vote, adopted the recommendation to keep the WACares premium rate at 0.58% by a 6-0 vote, and then elected Katie Chapman as council chair by unanimous vote. The meeting then adjourned.

Transcript Highlights:

• His contribution to society for so many years serves as a reminder that we are all part of a greater
• His contribution to society for so many years serves as a reminder that we are all part of a greater
• His contribution to society for so many years serves as a reminder that we are all part of a greater
• His contribution to society for so many years serves as a reminder that we are all part of a greater
• His contribution to society for so many years serves as a reminder that we are all part of a greater

Keywords: 912, senate, all

Summary: The Senate convened with a quorum present, approved the previous day’s journal, and opened with a moment of contemplation honoring Bob Marley. Several senators spoke about Marley’s life, music, and activism, emphasizing his messages of peace, justice, unity, and resistance. One senator highlighted Marley’s 1979 visit to Hawaii and his influence on Hawaiian and “Jawaiian” music, while another introduced members of the Marley family and recognized their continuing musical work and cultural legacy. The Senate also recognized staff members from one senator’s office during the introductions. After the contemplative remarks and guest introductions, the presiding officer asked for a few minutes for photographs. The chamber then processed Governor’s Message No. 665, withdrawing a nomination to the Campaign Spending Commission, and Governor’s Messages Nos. 666 to 668, transmitting nominations to various boards and commissions. Those messages were referred according to the Order of the Day, and Standing Committee Reports Nos. 480 to 674 were adopted by motion without objection. In announcements, the presiding officer thanked the SMA team and legislative staff for efficient work on a record number of bills during the first lateral, noted the upcoming three-day weekend, and extended birthday wishes to Clerk Carol Taniguchi. The Senate then adjourned by motion until 11:30 a.m. on Tuesday, February 18th.

Transcript Highlights:

• It also allows the ED to declare that there needs to be supplemental contribution.
• It also allows the ED to declare that there needs to be supplemental contribution.
• It also allows the ED to declare that there needs to be supplemental contribution.
• <01:07:02.960> so needs to be supplemental contribution so needs to be supplemental contribution
• together and and allow for contributions together and and allow for contributions from<01:07:10.520

Keywords: 910, house, all

Summary: The joint committees heard testimony on HB 982 HD1, a wildfire-related measure aimed at creating a wildfire recovery fund and a financing structure to address future catastrophic wildfire liability. The Department of Commerce and Consumer Affairs, the Division of Consumer Advocacy, and the Public Utilities Commission submitted comments and were available for questions. Supporters included IBW Local 1260, Kauai Island Utility Cooperative, Clearway Energy Group, Hawaiian Electric, Par Hawaii, and others, while Charter Communications and the Hawaii Association for Justice opposed or raised concerns. Life of the Land supported the bill but urged changes to the definition of a catastrophic wildfire and noted concerns about prudency review language. IBW Local 1260 asked to restore language from the original draft, and Charter warned the bill could impair existing contract and indemnity rights unless amended. A major focus of the hearing was Hawaiian Electric’s position on the HD1 version. Hawaiian Electric strongly supported the original bill but objected to the HD1 requirement for an additional $500 million shareholder contribution, arguing it was not feasible and could delay or prevent the fund from operating. The company said the bill would help protect customers and improve credit ratings by creating a dedicated revenue stream and a bankruptcy-remote financing structure, which it said would lower borrowing costs over time. Members questioned how the $1 billion securitization amount was chosen, whether credit rating agencies had indicated it was sufficient, and how the bill would work in bankruptcy; Hawaiian Electric said the amount was a balance among interests, not based on a specific agency directive, and that it would follow up on bankruptcy questions. Opponents and skeptics raised concerns about liability caps, the new claims process, and unclear language on damages above the fund’s limits. The Hawaii Association for Justice argued the bill limits victims’ remedies and gives too much authority to the new entity without clear guardrails. Committee members also pressed Hawaiian Electric on comparisons to California, the feasibility of the shareholder contribution, and whether alternative capital-raising or divestiture options had been considered. No vote or final action was taken in the portion of the hearing provided; testimony and questioning continued with follow-up information requested from Hawaiian Electric and others.

Transcript Highlights:

• The employee also makes contributions. on their own to the pension plan.
• State employees, in addition... into contributing to the pension plan also contribute to Social Security
• We also have a contribution from employers of 2% of payroll. that is also provided.
• Again, the contribution. Platform remains the same in terms of how we receive funding.
• You can increase the state contribution, you can increase the member contribution.

Keywords: 1184, house, all

Transcript Highlights:

• over $5,000, that you actually know who the original source of that contribution is.
• you know contribute you know contribute $4,999<00:25:11.720> and<00:25:11.840> then
• you're doing it not by contributing you're doing it not by contributing directly<00:27:19.480>
• increase the political contribution increase the political contribution refund<01:27:20.280>
• <01:33:56.560> to make meaningful contributions to make meaningful contributions to candidates

Bills: HF72, HF66, HF69, HF73

Keywords: campaign finance, state funding, political activity, nonprofits, government transparency, HF66, Minnesota second-degree murder, unintentional murder, protective order, order for protection, harassment restraining order, domestic violence, victim protection, cross-jurisdictional orders, out-of-state restraining order, tribal court order, Canadian protective order, public safety, criminal law, homicide

Transcript Highlights:

• deposit of member dues or contributions deposit of member dues or contributions into<01:04:34.760
• if they're in a defined contribution if they're in a defined contribution relief<01:26:04.920>
• reduced colas increased contributions reduced colas increased contributions and<01:35:28.080>
• and reducing contributions contributions and reducing contributions in<01:48:43.040> my<01:48
• as well as the state contributions as well as the state contributions<01:50:18.599> did<01:50

Keywords: 1187, senate, all

Transcript Highlights:

• contributions from federal government. contributions from federal government.
• maximum amount that TRS will contribute maximum amount that TRS will contribute to<00:24:58.080>
• <00:25:50.559> And maximum amount we'll contribute. And maximum amount we'll contribute.
• be contribution from somewhere. be contribution from somewhere. >> Yes. >> Yes.
• So the contribution, the monthly contribution rate that is chosen for the KEHP plan.

Keywords: Meeting Start: 00:00:35 Attendance Roll Call: 00:00:55 Approval of Minutes: 00:02:56 Deferred Compensation Authority Update: 00:03:12 Retiree Health Update - TRS: 00:15:58 Retiree Health Update - KPPA: 00:56:13 Adjournment: 01:20:33, 958, all

Summary: The Public Pension Oversight Board received updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. Chris Biddle reported that deferred compensation assets had grown to about $4.787 billion with roughly 88,000 participants, crediting auto-enrollment, targeted marketing around pay raises, and retiree-focused services. He said the board’s self-directed brokerage account, authorized by last year’s legislation, is being designed around a $40,000 account-balance threshold with up to 25% transferable into the brokerage window, tentatively for July 1 of the coming year. He also described the free financial planning program, which has been used by about 3,300 to 3,500 participants with an 87% return rate, and noted that the plan is currently in a fee holiday; members asked about the fee structure and whether the CFP service is provided through Nationwide, which Biddle confirmed. Board members praised the deferred compensation program’s growth and asked for the legislation referenced by Biddle. He said the plan’s annual fees are capped, with a $1 monthly fee plus other charges up to a $225 cap, for a maximum of $237 per year absent a managed account. He also said the program is seeking unified payroll access to expand participation, especially among teachers, and that prior lineup changes saved about $6 million annually in participant fees. Bo Barnes of TRS then addressed retired teachers’ health insurance, first clarifying a prior question about declining federal contributions to the retirement annuity trust. He explained that federally funded school positions generated contributions that rose from $72 million in 2019 to $109 million in 2022, then fell to $85 million this year, with a projection of $80 million over the next three years; if those dollars do not come from federal sources, they would have to be replaced through the SEEK formula. Barnes then reviewed TRS health coverage, explaining that the statutory contract guarantees access to group coverage but not fixed premium levels, and that TRS administers two retiree plans: KEHP for retirees under 65 or otherwise not Medicare-eligible, and MEHP for retirees 65 and older or Medicare-eligible. Barnes said TRS completed RFPs for the 2026 plan year, retaining Express Scripts for prescription drugs and switching the Medicare Advantage medical provider from UnitedHealthcare to Humana, while keeping plan design, provider access, out-of-pocket costs, and benefits materially unchanged. He noted a modest hearing-aid improvement of $500 per ear beginning in 2026. He also reported that the TRS Board approved the maximum state contribution for KEHP at $1,044.96, up from $930.76, an 18% increase that he said would require about $15 million to $16 million more annually, while the MEHP premium would drop from $210 to $200 per month because of the new contract. Using the 2024 valuation, he said the KEHP increase would slightly reduce the health trust funded ratio from 80.4% to 80.1% and raise unfunded liability from $4.036 billion to $4.051 billion. Barnes closed by reviewing the 2010 shared-responsibility reforms that shifted retiree health costs away from a pay-as-you-go model, including phased employee and district contributions and Commonwealth stabilization funding. No votes were taken beyond approval of the minutes.

Transcript Highlights:

• They're looking for a definite date for a contribution.
• So each contribution period has its hard deadline now.
• We’re following current law on what’s happening with the contributions.
• And every contribution over 200 is reported. And who are you? Oh, so sorry.
• And my understanding was it was just contribution thresholds.

Keywords: 908, all

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

Transcript Highlights:

• Um in the current contribution rate.
• Um, from a outflow contributions.
• related to that additional contribution. related to that additional contribution.
• It's an employee contribution.
• And specifically, those employer contributions out of the fixed statutory employer contribution that

Keywords: Meeting Start: 00:00:01 Attendance Roll Call: 00:01:26 Approval of Minutes: 00:02:27 Investment, Cash Flow, and Legislative Update: Bo Cracraft – Judicial Form Retirement System: 00:03:12 Ryan Barrow – Kentucky Public Pensions Authority: 00:21:52 Beau Barnes – Teachers’ Retirement System: 00:34:31 Adjournment: 01:07:25, 958, all

Summary: The meeting opened with the Pledge of Allegiance and prayer, followed by a roll call confirming a quorum and approval of the prior minutes. A special guest, Dave Eager, was welcomed before the committee moved to presentations from retirement system officials. Bo Craycraft, executive director of the Judicial Form Retirement System, gave a quarterly update on investment performance, asset allocation, and cash flow. He said the plans had held up well amid market volatility, with fiscal year-to-date returns above benchmark and long-term returns remaining strong. He explained that the plans are targeted to a 70% equity/30% fixed-income allocation, that some cash is being held for cash-flow management, and that negative cash flow is expected because of funding and contribution levels. He also said Senate Bill 183, dealing with proxy voting and economic analysis for certain votes, was not expected to materially affect the plans because of their small number of holdings and Bear Trust’s long-term investment approach. Ryan Barrow and Erin Surrod then presented for the Kentucky Pension Authority. They reported positive quarterly performance across the retirement and insurance funds, though results varied by period and remained tied to broader market conditions. They said recent asset-allocation changes had been completed and the funds were now within target ranges. On cash flow, they noted some plans remained negative or near zero, with one plan benefiting from a large appropriation. In the legislative update, they described House Bill 30 as codifying an exclusion from pension-spiking calculations for across-the-board raises, and Senate Bill 10 as increasing retiree health insurance subsidies and changing employee health insurance contribution rules for certain CERS members beginning in 2026. They also said Senate Bill 183 would likely have limited impact, though the agency would review voting policies and incorporate any required economic-analysis procedures.