Video & Transcript : 'vendor rate' :
Page 272 of 500
FL
Florida 2025 Regular Session
February 12, 2025 - 03:30 PM
Transcript Highlights:
- And the pop quiz is: what is the graduation rate and employment rate for your selected program?
- The pop quiz is: what is the graduation rate and employment rate for your selected program?
- rate, 80 percent employment rate.
- And also the diversity as well at the school, the graduation rate and the employment rate.
- It has about a 95% placement rate.
Summary:
The subcommittee began with an informal “college day” exercise in which members described what careers and colleges they would choose if starting over, often citing factors such as program reputation, location, cost, graduation rates, employment outcomes, and family or personal interests. Members mentioned a range of possible paths including law, aviation, education, construction management, psychology, social work, criminal justice, nursing, intelligence studies, and the arts. Several also highlighted the value of historically Black colleges and universities, dual enrollment, and career/technical education. The chair used the exercise to frame the meeting’s broader focus on Florida’s higher education pathways and student outcomes.
Dr. Kathleen Plinsky of Valencia College then gave an overview of the Florida College System and Valencia’s role in it, emphasizing Florida’s statewide articulation and transfer framework, open-access mission, affordability, and workforce alignment. She described Valencia’s record enrollment, high retention, large share of first-generation and working students, and partnerships such as Direct Connect to UCF, Osceola Prosper, and Open Door grants for short-term training. Members asked about guaranteed transfer, apprenticeships, enrollment trends, student demographics, out-of-state residency, county scholarship costs, dual enrollment outcomes, and barriers to expanding career dual enrollment. Dr. Plinsky said the system supports transfer and acceleration well, but funding constraints limit growth in some areas; she also noted that dual enrollment participation is high and that Valencia’s affordability and student support efforts have driven recent enrollment gains.
Dr. Jim Clark of Florida State University followed with an overview of the State University System, describing its governance, performance-based funding, low tuition, and strong graduation and research outcomes. He highlighted FSU’s enrollment, research profile, transfer student success, FSU Health, the National High Magnetic Field Laboratory, partnerships with K-12 schools and Tallahassee State College, and efforts to expand nursing and medical education to address workforce shortages. After the presentations, the committee heard from a panel on student acceleration and mobility: Shannon Mercer of the Department of Education explained the Office of Articulation, the statewide course numbering system, FASTER records, the 2+2 transfer model, specialized AA transfer degrees, and credit for industry certifications, military, medical, and law-enforcement training. Panelists from Kaiser University, Florida State University, and Pinellas County Schools described their institutions’ roles in transfer, advising, career pathways, apprenticeships, and dual enrollment. No formal votes or bills were taken up in the portion provided.
WA
Washington 2025-2026 Regular Session
JLARC I-900 Subcommittee for SAO Performance Audits Nov 5th, 2025
JLARC I-900 Subcommittee for SAO Performance Audits
Transcript Highlights:
- of special education students given the rates of these various factors in the school district.
- Shown on the horizontal axis, with the actual identification rate shown on the vertical axis.
- We applied a binary variable to each school, With the rate of special education students, we applied
- We then looked at whether the difference between rates in other states and Washington's rate were statistically
- Similar to what we showed in the previous slides, Washington's rates were statistically similar to 18
Summary:
The JLARC I-900 Subcommittee heard a State Auditor’s Office performance audit on special education services, focused on comparing student needs, district identification practices, and funding. Auditors said Washington does not appear to under-identify any particular population for special education, though districts face ongoing challenges with identification, documentation, staffing shortages, and inconsistent referral tracking. They explained that their analysis used statistical models because the true prevalence of disabilities is unknown, and found Washington districts generally clustered near the national average, with little evidence that any demographic group was systematically under-identified.
The audit also found that special education funding has historically been insufficient, with districts collectively covering about $500 million in costs not paid by state or federal sources, and that districts spent about 26% more per student than they received in funding. Auditors noted recent legislative changes that removed the special education enrollment cap and changed the safety net process, but said it was too soon to assess their effects. Their recommendations to OSPI included clarifying what counts as an official special education referral, requiring districts to report referral data even when no evaluation follows, and ensuring the new statewide data system is developed with district input, training, and possibly a mandate for uniform use.
OSPI staff said they concurred with the report and appreciated the work of the auditor’s office and JLARC. During member questions, Representative Paulette raised concerns that the audit did not directly examine prevalence of specific disabilities, such as autism and dyslexia, in vulnerable populations or compare Washington’s identification practices to medical and peer-reviewed prevalence data. Auditors responded that medical prevalence is not known in a systematic way, that educational eligibility differs from medical diagnosis, and that the report’s conclusions should not be read as proving no populations are under- or over-identified. No public testimony was offered, and the meeting adjourned.
MN
Transcript Highlights:
- and ultimately improving upon the 15% chronic absenteeism rate.
- These efforts ultimately contribute to increasing graduation rates.
- Our graduation rates drop for those students every time they miss.
- Our graduation rates drop for those students every time they miss.
- Our graduation rates drop for those students every time they miss.
Committee:
Senate Education Policy
NM
New Mexico 2026 Regular Session
House - Appropriations and Finance Feb 16th, 2026
Transcript Highlights:
- And that's the only two ways states can use to set their rates.
- I think is one of the amendments because the rate, the co-payment is part of the rate.
- In the rate setting, I think, is one of the amendments because the rate, the co-payment is part of the
- rate.
- We do have an enhanced rate, and if providers opt into that enhanced rate, they have to pay their entry-level
Summary:
The committee met late in the evening and announced that Senate Bill 132 would be rolled until the next day. The only bill heard was Senate Finance Committee substitute for Senate Bill 241, which would codify New Mexico’s Child Care Assistance Program in statute, establish eligibility, payment, wait-list, and co-payment rules, require reporting and transparency, and tie reimbursement rates to a cost-estimation model and wage scale/career lattice. The sponsor and administration described the bill as creating a durable framework for universal child care, with protections for program integrity, inclusion of children with developmental needs, and requirements to maximize state and federal child care tax benefits. Public testimony was largely supportive of the bill’s child care expansion goals, with endorsements from State Police, firefighters, early childhood advocates, and women’s policy groups, but many providers and educators said they could not support it without stronger wage and career-ladder protections and clearer guarantees that funding would reach staff salaries rather than owners or institutions.
The committee adopted Vice Chair Dixon’s amendment, which lowered the proposed transfer from the Early Childhood Education and Care Trust Fund from $1 billion to $700 million and added reporting requirements on the wait list, consultation requirements for rate-setting, additional facility reporting, a prohibition on supplanting certain public education funds, tribal facility participation, and food program reporting. A separate amendment from Representative Duncan to require first-come, first-served enrollment was debated at length but was tabled by a 9-7 vote after the sponsor and secretary said it conflicted with federal prioritization rules and the bill’s targeted access goals. Members also questioned how the bill would affect public entities, nontraditional-hour providers, co-pay triggers, and whether the wage scale would adequately compensate educators.
After debate, the committee voted 10-7 to give the amended bill a do-pass recommendation. Supporters said the bill would strengthen workforce stability, improve access for working families, and help sustain New Mexico’s universal child care system; opponents warned about the long-term fiscal impact, the potential growth of the program, and whether the bill sufficiently protected early childhood educators’ wages and other state priorities. The meeting adjourned with notice that the committee would reconvene at 8 a.m. the next day to hear the Senate’s actions on House Bill 2.
MA
Massachusetts 2025-2026 Regular Session
Status of Persons with Disabilities Jan 29th, 2026
Transcript Highlights:
- The first finding: overall vacancy rates vary by provider.
- The overall vacancy rate declined from 19% in 2024 to 15% in 2025.
- The staff vacancy rate decreased in every program.
- , compares unfavorably to the Mass job openings rate.
- And the clinicians still have a pretty high vacancy rate, was it 19%?
Summary:
The Workforce Support Subcommittee of the Status of Persons with Disabilities met, approved prior minutes, and heard a presentation from the Association of Developmental Disabilities Providers (ADDP) on its 2025 workforce metrics survey. ADDP described its membership and the survey’s scope, which covers community-based services for people with intellectual and developmental disabilities, autism, and brain injuries. The survey had strong participation, with 102 of 132 members responding, and this year included new questions on rising health insurance costs.
ADDP reported that workforce conditions have improved for a third consecutive year, with the overall vacancy rate falling from 19% in 2024 to 15% in 2025, and vacancy declines across several program areas. However, vacancies remain high in key roles such as licensed practical nurses and clinicians, nearly 4,000 positions remain unfilled, and about 1,800 people are still waiting for day services. Providers also reported major health insurance premium increases, which they said make it harder to offer competitive wages and benefits and affect recruitment and retention. Committee members discussed the impact of federal immigration policy, workforce shortages, and the need to maintain recent gains in staffing.
The subcommittee then elected Rachel Caprillion and Leo Sarkisian as co-chairs by vote. Members discussed possible topics and guests for the next meeting, including training, turnover, waiting lists, direct support professional pipelines, apprenticeships, and possible speakers from state agencies, advocacy organizations, other states, and workforce programs such as JVS. The meeting ended with a motion to adjourn.
CA
California 2025-2026 Regular Session
Assembly Budget Subcommittee No. 1 on Health Mar 17th, 2025
Transcript Highlights:
- And when do we expect to then see the rate increases?
- Each of these rate increases will be different.
- They haven't had a rate increase in 40 years.
- the rates for LVNs as registered nurses.
- No rate has been established. We can't bill.
Summary:
The committee heard a budget oversight hearing on the Department of Health Care Services, focusing first on the overall Medi-Cal budget and a March General Fund loan to cover a current-year shortfall. DHCS said the 2025-26 budget proposal totals $193.4 billion, with Medi-Cal projected at $188.1 billion total funds and $42.1 billion General Fund, driven by higher enrollment, pharmacy costs, managed care growth, and costs tied to eligibility expansions and the COVID-era redetermination unwinding. The department said the $3.44 billion loan was needed to manage cash flow and ensure timely payments to providers and plans, while the LAO noted Medi-Cal’s cash-basis budgeting creates volatility and that more detailed estimates would come with the May Revision. Members discussed federal Medicaid threats, the need for transparency on cost drivers, and the impact of pharmacy spending, long-term care, and immigration-related coverage expansions.
The second major topic was family health programs, including California Children’s Services, the continuous coverage unwinding, and opioid settlement fund spending. DHCS described CCS funding methodology changes, ongoing county stakeholder work, and a delayed rollout of CCS monitoring and oversight until July 1, 2025, while county representatives and advocates argued the program is underfunded and asked for more technical assistance and a delay in implementation. On the unwinding, the department explained that federal redetermination flexibilities helped maintain coverage after the pandemic, but the Governor’s budget proposes ending them at the end of June 2025; advocates urged making the flexibilities permanent to avoid coverage losses. For opioid settlement funds, DHCS and Finance said the budget increases funding for naloxone distribution while reducing other harm-reduction spending based on updated settlement revenues, prompting criticism from members and public commenters who argued the change would weaken effective harm-reduction programs.
The hearing also included an update on Proposition 35 implementation. DHCS said the voter-approved measure continuously appropriates MCO tax revenues beginning in 2025, with up to $4.6 billion annually available for specified Medi-Cal and provider investments in 2025 and 2026, but implementation depends on consultation with the required stakeholder advisory committee. The department and LAO noted uncertainty about future federal rules affecting the MCO tax after 2026. Public testimony largely supported maintaining Medi-Cal expansions, protecting immigrant coverage, preserving harm-reduction funding, and increasing support for community health workers, pediatric dental care, and CCS county administration. No votes were taken during the portion of the hearing provided.
MS
Transcript Highlights:
- The bond rating agencies had commented on the assumed rate of return.
- The bond rating agencies had commented on the assumed rate of return.
- The bond rating agencies had commented on the assumed rate of return.
- It wasn't all assumed rate, but it was mostly assumed rate.
- It wasn't all assumed rate, but it was mostly assumed rate.
Committee:
Joint Finance
ID
Transcript Highlights:
- It's within line and at the highest rate.
- You mentioned $18.50 per hundred as a loan rate.
- So the other direction I like to go is the default rate, the failure rate.
- A short-term loan with a higher rate of interest or higher rate of fee is not a typical business that
- Do you think that the rate of default, or the rate of re-upping, is going to improve at 30%?
Committee:
House Business
TX
Transcript Highlights:
- equal to the product of population growth rate and the inflation rate to the product of population growth
- rate and inflation rate.
- , the voter approval rate, the natural disaster rates, and how we do all of those expenses.
- would be over the voter approval rate.
- I think they actually cut their rates, but.
Committee:
House Intergovernmental Affairs
KY
Kentucky 2026 Regular Session
House Standing Committee on Banking and Insurance. (3-18-26)
Banking & Insurance
Transcript Highlights:
- their interest rate on their purchases. purchases. purchases.
- I think I understand what the interest rate buy-down is.
- You're very welcome. interest rate? Is that interest rate?
- Any other Representative McPherson. interest rate is a very smart way of interest rate is a very smart
- If you rate a whole percentage point.
Committee:
House Banking & Insurance
NM
New Mexico 2026 Regular Session
IC - Legislative Finance Dec 9th, 2025
Transcript Highlights:
- There’s still base rates, enhanced rates, and universal rates.
- We have standard rate, and then those who opt in to an enhanced rate.
- Those are the only two rates we have.” “There’s no longer rates based on quality, star 1 through 5.
- So everything’s standard rate. And then the enhanced rate based on levels of quality.
- We have standard rate, and then those who opt in to an enhanced rate.
Summary:
The committee heard first from LFC staff on a brief about New Mexico’s universal child care expansion. Staff said child care assistance has clear benefits for parents and families, but LFC has not found evidence in New Mexico that it improves children’s educational outcomes; they argued pre-K is the better tool for that goal. The brief highlighted four concerns with universal access: an estimated annual cost of about $849.7 million, a sharp decline in registered homes, possible crowding out of lower-income families, and reduced access for children under age two. Staff also suggested possible mitigations such as prioritizing slots for low-income and at-risk families, reinstating sliding-scale co-pays, and tying quality improvements to workforce wages.
Members raised questions about the cost estimate, funding sources, provider quality, and whether the data showed actual crowding out. Several lawmakers expressed support for child care generally but concern about the fiscal impact and whether universal access would divert resources from the families most in need. Others emphasized the importance of child care for workforce participation, rural communities, and family stability, and questioned how registered homes are counted and regulated. LFC staff clarified that the cost estimate was for child care assistance only, not the entire ECECD budget, and that the data showed declines in the share of lowest-income children and infants/toddlers served, though not causation.
The ECECD secretary then presented the department’s response, saying universal child care is intended to complete a cradle-to-career system and that the department has already seen strong uptake, increased capacity, and rising workforce participation. She said 6,206 families were found eligible in the first month, the share of infants and toddlers served rose, and new provider applications and licensed slots increased after the November rollout. The department also emphasized wage increases, quality improvements, and a new wage scale/career lattice, while projecting a lower near-term cost than LFC’s estimate and requesting additional funding for child care, early pre-K, home visiting, workforce systems, and capacity-building. No votes or formal actions were taken in the portion provided; the discussion was informational and focused on questions and testimony.
MN
Transcript Highlights:
- The states portfolio is our highest rated portfolio of everything that we do in ratings: corporates,
- Buwick. have some of the lower ratings have some of the lower ratings Connecticut<01:24:43.040><c> is
- The rate of growth, if it's not deemed compatible to the rate of revenue growth, the rate of expenditure
- c><01:26:59.360><c> expenditure</c> Revenue growth the rate of expenditure Revenue growth the rate of
- </c> product will grow at about a 2% rate product will grow at about a 2% rate which<01:34:11.280><c>
Committee:
Senate Capital Investment
NH
Transcript Highlights:
- </c> in order to stabilize the rates. in order to stabilize the rates.
- </c> spent and rate reductions occur. spent and rate reductions occur.
- </c> the regular rate. the regular rate.
- that we could pay a higher rate.
- ,</c><00:28:36.000><c> and</c> committee to look at at the rates, and committee to look at at the rates
Committee:
Senate Finance
MN
Minnesota 2025-2026 Regular Session
House Human Services Finance and Policy Committee 2/18/26
Human Services Finance and Policy
Transcript Highlights:
- </c> of the nursing facility payment rates. of the nursing facility payment rates.
- new rate methodology is approved.
- new rate methodology is approved.
- new rate methodology is approved.
- new rate methodology is approved.
Bills:
HF3379
Committee:
House Human Services Finance and Policy
NH
Transcript Highlights:
- </c> nursing homes that experienced a rate nursing homes that experienced a rate cut<00:37:36.960><c>
- </c> to section one of the bill, our rate to section one of the bill, our rate setting<00:37:59.280><
- </c> jeopardized by our current rate system. jeopardized by our current rate system.
- </c> the rate you think is the minimum. the rate you think is the minimum.
- </c> rating. Just like that. rating. Just like that.
Committee:
Senate Finance
AZ
Arizona 2026 Regular Session
04/16/2026 - Finance Advisory Committee
Transcript Highlights:
- And then for 29, the growth rates are the same, 4.6%.
- And that was primarily driven by low hiring rates.
- This goes back to birth rates. Nobody knows why birth rates have been falling.
- As we get into 2022, the Fed begins to raise interest rates and then mortgage rates essentially double
- It's muting the impacts of, you know, when we see the unemployment rate.
Summary:
At the April meeting of the Finance Advisory Committee, staff presented an updated state revenue forecast that was more cautious than January’s because of heightened economic uncertainty tied to the Iran conflict and broader national risks. The general fund’s available resources were revised down from $577 million in January to $378 million in the April forecast, with the lower estimate driven by reduced revenue projections while spending assumptions were unchanged. Staff said the outlook depends heavily on how long the Middle East conflict lasts and noted that a prolonged disruption could weaken the forecast further, while a quick resolution could improve conditions.
George Hammond of the University of Arizona gave a broad economic overview, highlighting geopolitical risk, elevated oil and gasoline prices, sticky inflation, weak Arizona job growth, and uncertainty around federal policy, tariffs, immigration, and AI-related investment. He said Arizona’s recent job growth has been very weak and concentrated mainly in health services, while most other sectors lost jobs, and he attributed much of the slowdown to low hiring rather than layoffs. He also discussed population growth, noting that Arizona remains above the national average but is increasingly dependent on net migration as natural increase slows, and he warned that housing affordability remains strained even as Phoenix inflation has moderated.
Panelists generally echoed the cautious outlook but pointed to some offsets. Liz St. Clair said Arizona’s near-term revenues could benefit from tourism tied to spring training and the Final Four, though higher fuel costs could dampen discretionary spending. Other panelists noted that the federal policy environment, tariffs, and immigration changes are likely to restrain growth, while productivity gains, especially from technology and AI, may help businesses maintain output. Several members also discussed housing, saying single-family permits have fallen while rental supply has improved affordability, and they raised concerns about labor-force growth, wage disparities, and the reliability of recent employment data revisions. No formal votes or actions were taken.
CA
California 2025-2026 Regular Session
Senate Health Committee Apr 15th, 2026
Transcript Highlights:
- variety of different vaccination rates.
- So what I... ...and then you can't get the approval for the rate or they're going to regulate your rate
- ...approval for the rate or they're going to regulate your rate, but your rate is already regulated because
- factors that you can use to develop the rate.
- have a rate review, um, a rate review, but not rate regulation.
Summary:
The committee heard SB 1377, which would change California’s medical exemption process for school immunizations. The author and supporters argued the bill would restore physician discretion, reduce fear of audits and discipline, and help families with medically vulnerable children obtain exemptions. Opponents, including pediatric, medical, and public health groups, said the current system created by SB 276 and SB 277 is working, that valid exemptions are still being issued, and that loosening oversight could undermine immunization rates and public health. Members debated the data behind claims of a chilling effect, the number of exemptions reviewed or revoked, and the bill’s amendments, which narrowed the measure to current exemptions and added a small additional threshold. Because there was no quorum at the time, action on SB 1377 was delayed until a quorum could be present.
The committee then heard SB 995, the Masuma Khan Justice Act, which would create a statewide inspection and enforcement framework for large voluntary residential facilities, including private immigration detention centers. The author and supporters described alleged neglect and abuse in detention facilities, including denial of medication, unsafe food and water, and inadequate oversight, and argued the state should ensure humane conditions and accountability. The California Hospital Association expressed concern about duplicative oversight and possible overlap with existing regulation, while the author said the bill was being refined to avoid constitutional problems and duplication. The committee voted to do pass and re-refer SB 995 to Judiciary, with the roll call showing five votes and the bill placed on call.
SB 1089 was also heard, proposing expanded access to GLP-1 medications for state and local government employees through CalPERS and encouraging broader affordability efforts through CalRx. The author framed the bill as a response to chronic weight disease, diabetes risk, and high costs, and described his own experience obtaining and paying for GLP-1 treatment. Supporters from the American Diabetes Association and medical groups said GLP-1s are effective tools for preventing and managing type 2 diabetes and could reduce long-term health costs. No opposition was heard, and the committee voted do pass and re-refer the bill to Labor, Public Employment, and Retirement, with the vote placed on call. The committee also began SB 1221 on Murphy conservatorships, with supporters and opponents debating whether district attorneys should have a larger role in these proceedings and whether the bill would improve public safety or disrupt the civil mental health process; the transcript cuts off before final action on that bill.
CA
California 2025-2026 Regular Session
Joint Hearing Senate Labor, Public Employment and Retirement and Assembly Public Employment and Retirement Mar 4th, 2026
Transcript Highlights:
- of plus or minus 2% compared to the current discount rate.
- For reference, CalPERS' current discount rate is 6.8%.
- We use that rate to discount future benefit payments.
- establishes the contribution rates and the liabilities.
- You obviously want your contribution rates to rely on audits.
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.
CA
California 2025-2026 Regular Session
Assembly Joint Hearing Assembly Public Employment and Retirement And Senate Labor, Public Employment And Retirement Mar 4th, 2026
Transcript Highlights:
- of plus or minus 2% compared to the current discount rate.
- For reference, CalPERS' current discount rate is 6.8%.
- We use that rate to discount future benefit payments.
- establishes the contribution rates and the liabilities.
- You obviously want your contribution rates to rely on audits.
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.
FL
Florida 2025 Regular Session
Ethics and Elections Mar 31st, 2025
Transcript Highlights:
- BUT I BELIEVE IT IS HOW WE ANALYZE A RATE CASE.
- AND THAT IS ON TOP OF RATE REQUESTS, YOU ALSO GET FROM UTILITY COMPANIES REQUESTS FOR ADDITIONAL RATES
- AND AS WE LOOK AT THOSE PROGRAMS WE THEN COMPARED THEM TO RATE AND ASK SO WHAT IS THE RATE IMPACT AND
- >> Mike LaRosa: I THINK EVERY TIME THERE IS A RATE CASE THERE IS A MODIFICATION.
- THE YEAR LETTER WOULD SAY WE ARE GOING TO FILE A RATE CASE.