Video & Transcript : 'actuarial valuation' :

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NM
NM

New Mexico 2025 Regular Session

IC - Land Grant Oct 7th, 2025

House Rural Development, Land Grants And Cultural Affairs

Transcript Highlights:
  • We were finally able to get an agreement from the department with the use of the assessor's valuations
  • Now that we got the agreement for them to use the assessor's valuation, I know there are two specific
  • parcels that they've gotten valuations on, and they're ready to move forward.
  • Have you ever challenged the assessor's valuation on these properties? Mr. Chairman, to date, no.
  • The land grant did seek the exemption for those valuations.
Committee: House House Rural Development, Land Grants And Cultural Affairs
KY
KY

Kentucky 2025 Regular Session

House Standing Committee on State Government (2-20-25)

Transcript Highlights:
  • accrued liability, as determined by the actuary, just so we know how much each employer's share of the
  • unfunded liability is. ...as determined by the actuary, just so we know how much each employer's share
  • short paragraph from the actuarial analysis.
  • He had actually looked at eliminating some of those provisions, but TRS actuaries were concerned that
  • He added that he had looked at eliminating some of those provisions, but TRS actuaries were concerned
Summary: The House State Government Committee met with a quorum and considered three bills. House Bill 73, as amended by committee substitute, added We Lead CS to the list of agencies participating in the Teachers’ Retirement System administrative provisions. The sponsor explained the bill corrects an oversight involving a computer science education service provider established in 2022. A question about fiscal impact was answered with no expected fiscal note or actuarial impact. The committee adopted the substitute and passed HB 73 19-0 with favorable expression. House Bill 441 addressed teacher shortages by expanding the number of retired teachers and critical-shortage-area teachers school districts may hire. The sponsor said districts could hire retired teachers up to 10% of staff and critical shortage area teachers up to 10%, replacing lower current limits and a temporary COVID-era provision that had expired. Members asked about work limits, salary rules, and how often shortage areas are identified; the sponsor said retired teachers remain subject to existing earnings limits, critical shortage teachers are paid at least a rank-two, 10-year salary, and shortage areas are identified annually by the Commissioner of Education. Supportive comments noted the bill was a stopgap and that long-term solutions should include recruitment, retention, and pay. The committee passed HB 441 19-0 with favorable expression. House Bill 462 would allow county clerks to correct marriage applications or licenses by affidavit, without requiring a lawsuit in circuit court, when there are obvious errors or omissions. The Kenton County clerk and another clerk testified that the change would help people who need corrected records for Social Security, Real ID, inheritance, and other legal purposes, while still preserving data needed by Vital Statistics. Members described the bill as a practical efficiency measure. The committee passed HB 462 19-0 with favorable expression, and the meeting then adjourned.
MO
MO

Missouri 2026 Regular Session

Pensions Mar 4th, 2026

Pensions

Transcript Highlights:
  • That's what our investment actuaries...
  • So, you know, and I understand actuarial numbers pretty well.
  • When you're looking at these things, the P.S. understand actuary numbers pretty well.
  • So the $137.8 million—that is the actuarial cost.
  • As we say, we actuarially do the net present value of what is $9.5 million a year.
Committees: House Pensions , House Local Government, Elections and Pensions
OK
OK

Oklahoma 2026 Regular Session

Retirement and Government Resources REVISED Feb 17th, 2026

Retirement and Government Resources

Transcript Highlights:
  • It passed A&O and was referred to the actuary, and it's back for the policy part of it.
  • The actuarial increase came back as an unfunded actuarial liability amount of contribution increase.
  • They estimate there's about 26 employees that this would affect, but the actuary is saying they don't
  • And I think that's the most important thing, that you have to buy in your five years, the actuarial of
  • There's no actuarial expense to that because the actuarial is going to set out that value of that money
Bills: SB134 , SB1356 , SB1407 , SB1611 , SB1639 , SB169 , SB1722 , SB182 , SB1870 , SB2039 , SB432 , SB609 , SB715 , SB716
Committee: Senate Retirement and Government Resources
Summary: The Senate Committee on Retirement and Government Resources considered a series of retirement, pension, and state employee bills. Senate Bill 1870 would let small municipalities in OPERS with populations of 2,000 or less opt out for new employees; members questioned the fiscal impact and the bill passed 8-0 after the chair struck the title to get a clearer actuarial analysis. Senate Bill 1722 passed 9-0 and would require OMES construction contract fees to be based only on construction costs, not interior design and furnishings, with members discussing how to define those terms and whether historical or specialized projects could still be accommodated. Senate Bill 1639 passed 9-0 after an amendment removed provisions affecting the Indian Education Act commission, leaving a bill to repeal several dormant boards and commissions. The committee also passed Senate Bills 715 and 716, which would increase municipal contributions to firefighter and police pensions, respectively; members raised concerns about city budgets, and the sponsor said he was open to phasing in the increases. Senate Bill 182 passed 5-2 to add certain DHS Inspector General officers and OJA residential care specialists to hazardous duty retirement, and Senate Bill 609 passed 7-0 to allow police recruits to buy up to five years of prior out-of-state service credit as a recruitment tool. The committee then passed Senate Bill 169 5-2 to increase state employee longevity pay by 50%, with supporters citing high turnover and opponents warning about budget pressure and the need for broader raises. Senate Bill 134 passed 7-0 to shorten the waiting period for county employees to return to work from one year to six months. Senate Bill 432 passed 6-0 to raise volunteer firefighter pension benefits, and because it was double-assigned it would next go to Appropriations. Senate Bill 1407 passed 7-0 after an amendment requiring OMES to provide the Commission on the Status of Women an itemized accounting of funds; the bill generally clarifies staffing and financial reporting authority for the commission. Finally, Senate Bill 2039 passed 8-0 after an amendment narrowing the bill to military personnel who are also teachers and defining salary for buyback purposes; the sponsor said the measure would help service members return to teaching and buy back up to five years of credit. The committee also passed Senate Bill 1356 7-0, a broader OMES cleanup bill moving certain functions elsewhere, though members flagged concerns about relocating the state use program and the pay-for-success fund and suggested further study on those sections.
MA
MA

Massachusetts 2025-2026 Regular Session

Continuing Care Retirement Communities Jun 21st, 2026 at 10:00 am

Transcript Highlights:
  • And we did use an actuarial database in order to predict expenditures, but most of the exact...
  • And we did use an actuarial database in order to predict expenditures, but most of the exact.
  • And we did use an actuarial database in order to predict expenditures.
  • So all I'm trying to say is, and I am not an actuary, but I spent a lot of time with the actuaries in
  • That's the extent of my actuarial prowess. That's the extent of my actuarial prowess.
Summary: The commission meeting focused on continuing care retirement communities (CCRCs), beginning with a presentation from Two Life Communities on its Opus Newton model, which is opening in the fall. Two Life described Opus as a middle-income, modern CCRC built around affordability, care coordination in residents’ apartments rather than separate care buildings, and resident-driven community life. Commissioners asked about financing, home care arrangements, affordability, Medicaid/MassHealth access, and the role of resident councils versus board representation. Two Life said it wants to remain within the CCRC framework, but expressed concern about proposals that would require multiple discrete care levels, impose deadlines on entrance-fee refunds, or require resident board seats. The commission then discussed possible recommendations. There was broad support for Senate Bill 478, which would require clearer disclosure of entrance-fee refund terms in a separate document for prospective residents. On refund timing, members were divided: some favored a one-year deadline or a deadline with waivers, while others opposed a fixed deadline because of financing risks and the potential impact on new development and current residents. Several members suggested keeping the status quo but adding better data collection and reporting on refund timing. On the CCRC definition and marketing, members debated whether the current statutory definition is too vague and whether the commission should recommend clearer standards or a certification-like process, while also noting resource limits for state oversight. Members also discussed the Age CCRC Consumer Guide, with general agreement that it should be updated and made more useful to consumers, possibly with clearer questions to ask and more information about facilities, though some cautioned against adding subjective financial-risk statements that would be hard to administer. On resident representation, several commissioners strongly supported requiring resident voting members on boards, while providers argued that strong resident associations and regular meetings with boards may be preferable and that communities should retain flexibility. The meeting ended with a request for written comments by July 11, draft recommendations to be circulated July 18, and a possible final meeting on July 21, with the commission aiming to finish by August 1.
WA
WA

Washington 2025-2026 Regular Session

House Labor & Workplace Standards Jan 28th, 2026 at 08:00 am

Labor & Workplace Standards

Transcript Highlights:
  • House Bill 2188 requires L&I to publish the actuarial indicated rate for each workers' compensation risk
  • We see the actuarial studies and the... You know, what do rates have to be increased from?
  • We see the actuarial studies, and in particular last year from the studies, we had the 13.6, I believe
  • So we see maybe it needs to be, based on actuarial studies, the increase should be 5%, and we take a
  • However, the actuarial rate, the one that needed to keep the system fully solvent, was 13%.
Bills: HB2188 , HB2563 , HB1571 , HB2144 , HB2191 , HB2218 , HB2243 , HB2372
Committee: House Labor & Workplace Standards
Keywords: transparency, industrial insurance, insurance rate increases, financial disclosure, regulatory oversight, unemployment, electronic notices, compensation, digital communication, order processing, workers' compensation, occupational disease, firefighters, fire investigators, law enforcement officers, first responders, heart disease, cardiac conditions, respiratory disease, cancer presumption
MN
MN

Minnesota 2025-2026 Regular Session

Minnesota Management and Budget Press Conference 12/4/25

Transcript Highlights:
  • Every year, the Department of Human Services works with actuaries to set rates for the upcoming year
  • Actuaries attribute about three-quarters of this change to increased use of services and a quarter to
  • And what we saw is that costs in 2024 and early 2025 far exceeded what actuaries projected in general
  • And what we saw is that costs in 2024 and early 2025 far exceeded what actuaries projected in general
  • </c><00:35:45.359><c> to</c> when DHS is working with actuaries to when DHS is working with actuaries
Summary: Minnesota Management and Budget Commissioner Aaron Campbell, State Economist Dr. Tony Becker, and State Budget Director Anna Mingi presented the November 2025 budget and economic forecast. Campbell said the state now projects a nearly $2.5 billion surplus at the end of the 2026-27 biennium, about $575 million better than the end-of-session estimate, but also a projected negative balance of about $2.9 billion in FY 2028-29, reflecting a worsening structural imbalance. He said the budget reserve stands at $3.4 billion, with cash flow and budget reserves totaling $3.8 billion after a $244 million addition, and emphasized that Minnesota’s AAA bond rating and reserve policy remain strengths even as future sessions will need to address the long-term gap. Becker said the national economic outlook has changed only modestly since February, but growth remains below trend through the forecast horizon. He cited slower consumer spending, weak private investment, continued tariff uncertainty, lower projected immigration, and modest inflation that stays near 3% through 2026 before easing. Revenue forecasts for the next biennium were revised up to $66.3 billion, driven mainly by higher individual income tax receipts and other revenue, partly offset by lower sales and corporate tax forecasts. He also noted risks from federal policy changes, the recent shutdown’s effect on data availability, and possible equity market volatility. Mingi said general fund spending is projected to rise sharply, with current biennium spending up $3.4 billion from end-of-session estimates and planning-year spending up $1.9 billion. She attributed much of the increase to carryforward from prior one-time appropriations, discretionary inflation, and especially Medical Assistance. MA costs are projected to be about $2.5 billion higher over 2025-29, largely because managed care rates rose more than expected due to higher utilization and higher-cost services, including pharmacy costs, while long-term care and disability waiver costs also increased. In response to questions, officials said the federal reconciliation bill had only a relatively small effect on the health care changes, and that the carryforward amounts reflect unspent prior appropriations that now show up in later years rather than new spending.
FL
FL

Florida 2025 Regular Session

Ethics and Elections Jan 14th, 2025

Transcript Highlights:
  • WHAT HAPPENS IS YOU HAVE A RATE MAKING PROCESS AND AN ACTUAL EXPERIENCE PROCESS AND AT THE TIME THE ACTUARIES
  • CITIZENS ARE ACTUARIALLY SUPPRESSED.
  • BECAUSE MANY PEOPLE FIND THEM UNREASONABLE. >> THEY WILL COME IN AT AN ACTUARIALLY SOUND RATE.
  • A RATE THAT HAS BEEN DETERMINED BY THE OFFICE TO BE ACTUARIALLY SOUND. >> OKAY ACTUARIALLY SOUND BEING
  • I'M NOT AN ACTUARY.
MN
MN

Minnesota 2025-2026 Regular Session

House Commerce Finance and Policy Committee 2/18/26

Commerce Finance and Policy

Transcript Highlights:
  • </c> actuary on [laughter] staff. actuary on [laughter] staff.
  • So that is very much<00:44:52.079><c> a</c> much a much a an<00:44:54.000><c> actuarial</c> an actuarial
  • So again, like our actuaries have to abide by their own actuarial standards to make sure that they’re
  • So again, like our actuaries have to abide by their own actuarial standards to make sure that they’re
  • abide by their own actuarial have to abide by their own actuarial standards<00:46:41.440><c> to</c><
Committee: House Commerce Finance and Policy
MA
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Health Care Financing Jun 21st, 2026 at 11:00 am

Joint Committee on Health Care Financing

Transcript Highlights:
  • We hired a third-party actuarial firm, Health Management Associates.
  • They did an actuarial study looking at Medicare claims data.
  • My name is Annie Tasman Ewing, and I am a senior consulting actuary with Wakely.
  • I'm a fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
  • Our actuarial analysis found that this transition could reduce MassHealth costs by up to 6% annually
Committee: Joint Joint Committee on Health Care Financing
Summary: The Joint Committee on Health Care Financing held a public hearing on several health care bills focused primarily on autism services and kidney disease coverage. Committee chairs John Lawn and Cindy Friedman opened by outlining hearing procedures, testimony rules, and filing deadlines, and noted the hearing would be recorded and written testimony accepted. They said the day’s topics included affordability and access to behavioral health services, provider reimbursement, Medicare coverage for vulnerable populations, and MassHealth eligibility asset exemptions. A major portion of the hearing concerned House Bill 4623, which would add board-certified assistant behavior analysts (BCABAs) as a recognized mid-level supervisory role in the MassHealth reimbursement framework to help address long wait lists for autism spectrum disorder services. Representative Lisa Field, actuaries, clinicians, and autism service providers testified that the current two-tier model limits workforce capacity, contributes to long delays, and leaves families waiting months for care. Supporters said the bill could expand access, improve retention, and potentially reduce MassHealth costs, while also helping providers meet growing demand and new administrative requirements. The committee also heard testimony on House Bill 4425 and Senate Bill 2737, which would allow Massachusetts residents under 65 with end-stage renal disease to purchase Medigap coverage. Legislators, dialysis advocates, and patients described high out-of-pocket costs under Medicare, barriers to kidney transplant eligibility without secondary insurance, and the financial strain on patients and families. Testifiers said the change would affect about 846 residents, could modestly increase premiums, and might reduce Medicaid spending by preventing asset spend-downs. Senator Gomez and others spoke from personal experience with dialysis and transplant care. Finally, the committee heard testimony on House Bill 4353 and Senate Bill 2587, which would require regular data-driven review of MassHealth ABA reimbursement rates. Providers and association representatives argued that reimbursement has not kept pace with inflation, workforce shortages, accreditation costs, and new 2026 MassHealth policy requirements, and said the bills would improve transparency and ensure rates reflect the true cost of care. No votes were taken; the hearing concluded with the chairs thanking participants, inviting additional written testimony, and adjourning the meeting.
OK
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Mar 25th, 2026 at 01:12 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • What is the projected actuarial impact on Oklahoma's public employees' retirement system of allowing
  • All I can go off of is what the actuary tells us, and it says it will drop the funding ratio by 2%.
  • You, as we've often seen in this committee, the actuarial opinions Are rather brief and a lot of times
  • This bill, in particular, based upon the actuary analysis, there's actually been multiple actuary analysis
  • done as this bill's Been out here for a couple of years, but the actuary analysis says that it will
Bills: SB1778 , SB1570 , SB134 , SB1966 , SB1636 , SB1725 , SB1726 , SB259 , SB504 , SB592 , SB2030 , SB1572 , SB843 , SB1242 , SB1255 , SB1262 , SB1264 , SB1286 , SB1581 , SB1290 , SB1316 , SB1319 , SB1369 , SB1379 , SB1381 , SB1400 , SB1427 , SB1436 , SB1461 , SB1496 , SB1509 , SB1534 , SB1553 , SB904 , SB1592 , SB1645 , SB1684 , SB1767 , SB1772 , SB1813 , SB1894 , SB1928 , SB1946 , SB1980 , SB2040 , SB2060 , SB2061
Keywords: reading instruction, literacy, educational equity, intervention services, third grade retention, Strong Readers Act, child welfare, child safety, administrative transition, Department of Child Safety and Well-being, Oklahoma Commission on Children and Youth, juvenile justice, foster care, retirement, public employees, reemployment, benefit adjustment, Oklahoma Public Employees Retirement System, memorial highways, bridge designations
MA
MA

Massachusetts 2025-2026 Regular Session

Continuing Care Retirement Communities Jun 21st, 2026 at 10:00 am

Transcript Highlights:
  • One of those is an actuary.
  • any type of insurance program or operates health care as a part of their contract, they engage an actuary
  • , and that actuary, you know, has, from actuarial tables, they can have a, say, a fairly close to You
  • And just to follow up on that, so The community from the actuarial review.
  • As Keith said, we use an actuary. We use A.B. Powell out of Atlanta.
Summary: The commission met at Brookhaven at Lexington to continue discussing continuing care retirement communities (CCRCs), with a focus on financial viability, entrance fees, refund policies, and how the industry is evolving. Speakers explained that nonprofit CCRCs have shifted away from building entirely new campuses since the 2008 financial crisis, and now more often grow through expansions, affiliations, mergers, or added home- and community-based services. They also noted that many newer CCRCs, especially nationwide, are being built without on-campus skilled nursing, relying instead on assisted living, memory care, or off-site arrangements, and that zoning and local approval can affect expansion plans. A substantial portion of the discussion centered on financial health and consumer protection. Panelists said the most important indicators of a strong CCRC are high occupancy, strong liquidity, and reinvestment in the property, with low occupancy and declining days cash on hand cited as warning signs. They described how actuarial reviews are used to estimate health care utilization and set pricing, and said staffing shortages are often a bigger financial pressure than resident care utilization itself. On refunds, speakers said entrance-fee refunds are generally paid when a unit is resold and the new entrance fee is received, and that resident refunds are usually protected even in bankruptcy, though residents are unsecured creditors. Massachusetts examples such as Reed’s Landing and the Groves were cited as cases where residents remained in place and refunds were ultimately protected. The group also discussed a pending disclosure bill on Beacon Hill related to entrance fees and refund transparency. LeadingAge Massachusetts said it supports clearer disclosure so residents understand refund provisions, and reported that among surveyed member CCRCs, the average time to provide an entrance-fee refund over the past two years was about 117 days. Participants emphasized the need to balance consumer protection with preserving the financial stability of the communities. The commission also reviewed upcoming dates: a virtual public hearing/listening session on June 16, the next commission meeting on June 23, and a later discussion planned on consumer rights, protections, and advertising practices. The meeting concluded with introductions of commission members and an invitation for attendees to tour the Brookhaven campus.
OK
OK

Oklahoma 2026 Regular Session

House of Representatives Second Regular Session of the 60th Legislature Day 40 Afternoon Session Apr 14th, 2026 at 12:30 pm

Oklahoma House Floor Meeting

OK
OK

Oklahoma 2026 Regular Session

House of Representatives Second Regular Session of the 60th Legislature Day 40 Morning Session Apr 14th, 2026 at 09:30 am

Oklahoma House Floor Meeting

OK
OK

Oklahoma 2026 Regular Session

House of Representatives Second Regular Session of the 60th Legislature Day 39 Apr 13th, 2026 at 01:30 pm

Oklahoma House Floor Meeting

Transcript Highlights:
  • with utilities, insurance, groceries, and mortgage payments will not be crushed by the ever-rising valuations
  • Speaker, how about the right not to lose your property because the government keeps inflating the valuation
Bills: SB1290 , SB1530 , SB1847 , HR1050 , SB169 , SB1377 , SB1990 , SB1991 , SB1778 , SB1579 , SB1992 , SB3 , SB2028 , SB1928 , SB2127 , SB2117 , SB1439 , SB1930 , SB330 , SB1191 , SB2110 , SB2134 , SB2069 , SB2095 , SB1613 , SB1246 , SB1976 , SB1346 , SB1509 , SB2071 , SB259 , SB1314
Keywords: 2-1-1 services, revolving fund, Department of Human Services, crisis pregnancy, abortion, legal funding, research funding, development rebate, Oklahoma Department of Commerce, tax incentives, higher education partnerships, Medicaid, ADvantage Waiver, home-based services, eligibility criteria, healthcare, senior services, Taiwan, Oklahoma, sister-state relationship
AL
AL

Alabama 2026 Regular Session

Alabama Senate County and Municipal Government Committee Jan 28th, 2026

County and Municipal Government

OK
OK

Oklahoma 2026 Regular Session

Revenue and Taxation Apr 6th, 2026 at 02:00 pm

Revenue and Taxation

Transcript Highlights:
  • The first one would be, the state aid is that not going to kick in once that valuation came about and
  • Do you know are they going to be made whole through state aid for that valuation loss?
  • Busted, that valuation plummeted, and those taxpayers had to foot the bill.
  • The state is about to cause more problems whenever we lower our valuations from 3 to 1% and possibly
  • Are we going to make every single school district whole when their valuations plummet and most of them
Bills: HB3044 , HB3465 , HB3625 , HB3704 , HB3759 , HB3920 , HB3972 , HB4191 , HB4311 , HB4426
Committee: Senate Revenue and Taxation
Keywords: veterans, tax refund, Oklahoma Department of Veterans Affairs, capital improvement, donations, Oklahoma Emission Reduction, incentive, taxation, environment, revenue, investment, school funds, treasurer, education funding, financial policy, income tax, scholarship, tax credit, Oklahoma Tax Commission, school funding
KY
KY

Kentucky 2026 Regular Session

Senate Standing Committee on State and Local Government (1-14-26)

State & Local Government

Transcript Highlights:
  • Uh, and then the tax valuation will go up whenever they sell it, move out of it, go to a nursing home
  • Uh, and then the tax valuation will go up whenever they sell it, move out of it, go to a nursing home
  • Uh, and then the tax valuation will go up whenever they sell it, move out of it, go to a nursing home
  • ><c> up</c><00:10:12.160><c> whenever</c><00:10:12.560><c> they</c><00:10:12.720><c> sell</c> valuation
  • will go up whenever they sell valuation will go up whenever they sell it,<00:10:13.200><c> move</c><
Committee: Senate State & Local Government
MN
MN

Minnesota 2025-2026 Regular Session

Legislative Commission on Pensions and Retirement - 04/01/25

Minnesota Senate Floor Meeting

Transcript Highlights:
  • </c><01:10:48.480><c> acred</c> smaller number than the actuarial acred smaller number than the actuarial
  • So there is a first for actuarial work.
  • </c> actuarial acred liability. actuarial acred liability.
  • Tensic. actuary describes why they consider 20 actuary describes why they consider 20 years<01:35:36.159
  • According to our actuary, improvement.
NM
NM

New Mexico 2026 Regular Session

Senate - Judiciary Feb 11th, 2026 at 05:25 pm

Senate Judiciary

Transcript Highlights:
  • The Pinnacle Actuarial Resources Group is the firm that's been hired to conduct this annual actuarial
  • Our actuary has been looking at this at the Patient Advisory Board.
  • impact currently on the fund on an actuarial basis is immaterial.
  • knowledge of actuarial science.
  • knowledge of actuarial science.
Bills: SB41 , SB153 , SB165 , SB261 , SB264 , HB99 , HJR5 , HM39 , HB206 , HB213 , SB41 , SB153 , SB165 , SB261 , SB264
Committees: Senate Senate Judiciary , Senate House Judiciary
Keywords: sexual crimes, statute of limitations, criminal justice, victim rights, child abuse, procurement, contracting, small business, local government, disaster recovery, emergency procurement, certification, public spending, juvenile justice, delinquency, rehabilitation, community corrections, risk assessment, public safety, health regulations