Transcript Highlights:

• Relates to consumer data privacy, creates the Louisiana Data Privacy Act to provide for limitations and
• restrictions on the use of certain data.
• Indiana Data Privacy Act to provide for limitations and restrictions on the use of certain data, to provide
• personal data.
• Amendment 10 amends the definition of personal data.

Bills: HB744, HR197, SB54, SB79, SB163, SB287, SB375, SB386, SB398, SB469, SCR5

Keywords: public utility, common carrier, regulation, Public Service Commission, New Orleans, constitutional amendment, distributed energy, energy storage, electricity demand, virtual power plants, reliability, hurricane resilience, esthetics, cosmetology, hair services, beauty industry, Louisiana regulation, Louisiana Economic Development, sunset law, legislative authority

Summary: The House Committee on Commerce met on May 11, 2026, and first advanced several Senate measures with little or no opposition. It reported favorably Senate Bill 79 recreating Louisiana Economic Development, Senate Concurrent Resolution 5 establishing the Louisiana-Ireland Trade Commission, and Senate Bill 375 on Class B firefighting foam, after adopting a technical amendment clarifying use in declared emergency firefighting operations. The committee also advanced Senate Bill 398, which moves manufactured and modular housing regulation under the Louisiana Contractors Licensing Board and expands inspection and enforcement provisions, after adopting two sets of mostly technical amendments and hearing testimony that the change would improve consumer safety and increase inspection coverage without adding net cost to locals. It then reported favorably Senate Bill 163 on virtual currency business licensing, after adopting an amendment providing that any future federal licensing law would preempt the state act, and Senate Bill 287 on virtual currency kiosks, which adds refund timelines, disclosure requirements, customer support, and reporting duties; witnesses from the banking and law enforcement community said the bill responds to common fraud complaints and improves consumer protection. The committee also reported favorably Senate Bill 54, which allows estheticians to blow-dry hair after certain services, despite strong opposition from cosmetology board representatives and industry witnesses who argued the service is outside esthetics training, could create scope-of-practice and facility issues, and should instead be addressed by lowering or revising separate blow-dry licensing requirements. The committee then considered House Resolution 197, which urges the Louisiana Public Service Commission to study the feasibility and value of distributed energy generation and storage resources. After adopting technical amendments and a second amendment changing mandatory language to requests and urging the PSC to coordinate with the LSU Energy Institute, the resolution was reported favorably. Testimony from solar and energy industry representatives, the PSC, and LSU focused on how distributed resources, batteries, rooftop solar, and virtual power plants could improve reliability, reduce costs, and help meet rising demand; members also discussed how the study would evaluate market value, avoided costs, and capacity benefits. Questions centered on methodology, grid impacts, and comparisons to Texas’s ERCOT system and Winter Storm Uri, with PSC officials emphasizing that the study would help determine whether such resources benefit ratepayers. Representative Wright presented House Bill 744, a proposed constitutional amendment to transfer regulation of certain New Orleans utilities from the city council to the Public Service Commission. He argued the change could reduce rates through consolidation and eliminate duplicative regulatory costs, while PSC officials explained the city’s authority is a constitutional exception dating back to 1921 and that Entergy New Orleans and Entergy Louisiana operate as separate companies with different regulatory environments. After discussion of rate impacts, utility structure, and whether the proposal should instead become a study, the bill was deferred. The committee then began Senate Bill 386, the Louisiana Data Privacy Act, which would give consumers rights to access, correct, delete, and opt out of certain uses of personal data; the sponsor introduced the bill and the committee started considering technical and substantive amendments, but the transcript ends before final action on that measure.

Transcript Highlights:

• Public following when it becomes inactive, the data I would refer to the Data Practices Act in what it
• says about criminal investigative data.
• Inactive investigative data is classified as public; active investigative data is confidential.
• de-identified data to be shared.
• The data classification provisions are consistent with existing data classification of similar data reported

Bills: HF2354, HF1672, HF2389, HF2870, HF2743, HF1918, HF2551, HF1671

Keywords: medical assistance, fraud prevention, subpoena authority, criminal penalties, consumer protection, medical cannabis, medical marijuana, cannabis, cannabinoids, hemp, marijuana registry, patient registry, visiting patient, Tribal cannabis, Tribal medical cannabis program, Tribal sovereignty, Office of Cannabis Management, designated caregiver, home cultivation, adult-use cannabis

Transcript Highlights:

• The data I would refer to the Data Practices Act and what it says about criminal investigative data.
• to the data The data I would refer to the data practices<00:09:17.120> act<00:09:18.080> and
• criminal investigative data. criminal investigative data.
• The data classification provisions are consistent with existing data classification of similar data reported
• data classification of similar data data classification of similar data reported<00:31:57.440>

Bills: HF2354, HF1672, HF2389, HF2870, HF2743, HF1918, HF2551, HF1671

Keywords: medical assistance, fraud prevention, subpoena authority, criminal penalties, consumer protection, medical cannabis, medical marijuana, cannabis, cannabinoids, hemp, marijuana registry, patient registry, visiting patient, Tribal cannabis, Tribal medical cannabis program, Tribal sovereignty, Office of Cannabis Management, designated caregiver, home cultivation, adult-use cannabis

Transcript Highlights:

• My hope always is with data practices that when someone like Representative Green, who is new to data
• So, my question is, if you're gathering all this data, but the public is not able to see the data, and
• We'd love to see data on that.
• Passing that there would be a large fiscal note just to collect the data that small amount of data that
• sometimes health-related data or other kinds of data.

Bills: HF2233, HF1999, HF1995, HF1614, HF2781, HF1775, HF1316, HF2127, HF2521, HF689, HF2380, HF1273

Keywords: Uniform Special Deposits Act, special deposit, banking law, financial institutions, escrow, escrow account, trust account, security deposit, beneficiary, depositor, creditor process, garnishment, attachment, levy, setoff, recoupment, financial market infrastructure, retirement benefits, compensation, earnest money

Transcript Highlights:

• anonymous data requests. And since I was anonymous data requests.
• My hope always is with data practices that when someone like Representative Green, who is green on data
• public has every right to request data public has every right to request data from<00:14:48.160>
• <00:42:59.839> to right now we do not have good data to right now we do not have good data
• often do with health-related data or other kinds of data.

Bills: HF2233, HF1999, HF1995, HF1614, HF2781, HF1775, HF1316, HF2127, HF2521, HF689, HF2380, HF1273

Keywords: Uniform Special Deposits Act, special deposit, banking law, financial institutions, escrow, escrow account, trust account, security deposit, beneficiary, depositor, creditor process, garnishment, attachment, levy, setoff, recoupment, financial market infrastructure, retirement benefits, compensation, earnest money

Transcript Highlights:

• Data has been copied or sold for the personal profit of Mr. Musk.
• have quite a bit of that data on our website.
• with the data than to fly blind.
• I'm not sure what's so controversial about the data.
• Just focus on the data.

Bills: SB257

Keywords: supply chain resilience, critical supply chains, critical goods, manufacturing, domestic manufacturing, reshoring, nearshoring, supply chain security, supply chain shock, supply chain disruption, critical infrastructure, emerging technologies, semiconductors, microelectronics, artificial intelligence, quantum computing, robotics, advanced manufacturing, blockchain, cybersecurity

Transcript Highlights:

• H.775 and the the concept of aggregated H.775 and the the concept of aggregated bulk<00:10:22.400
• House Bill 727 is an act relating to sustainable data center deployment.
• House Bill 727 is an act relating to sustainable data center deployment.
• In that version, we established a regulatory framework for large data centers, 20 megawatts or larger
• PFAS discharges from data centers. PFAS discharges from data centers.

Keywords: 926, house, all

Summary: The House first took up S. 298, the Vermont Voting Rights Act. Members explained the Senate’s further proposal of amendment, including changes to language about how the State Ethics Commission may respond to ethics inquiries, a directive for the Secretary of State and Ethics Commission to work out a shared process for the candidate financial disclosure form by January 30, and a technical PAC-related wording change. The committee reported an 11-0-0 vote in favor, and the House concurred in the Senate proposal of amendment. The chamber then suspended rules to take up S. 328, the omnibus housing bill, and heard detailed committee reports from General and Housing, Ways and Means, and Appropriations. The bill addresses common interest community resources, a service-supported housing advisory council, expansion of the 10% for Vermont program to 12.5%, an off-site construction accelerator pilot, VHFA’s rental housing revolving loan program, special assessment districts, municipal housing planning requirements, and several reports on housing-related issues. Ways and Means described revenue impacts from the cash-balance expansion and revised the off-site construction pilot and loan program language; Appropriations removed a section already included in the budget and adjusted advisory council per diem funding. The House adopted the amendments, ordered third reading, suspended rules to place the bill in all remaining stages, passed it in concurrence with proposal of amendment, and messaged the action to the Senate forthwith. The House then suspended rules to take up S. 197, relating to payment reform for primary care. The House Health Care Committee recommended a strike-all amendment, saying the health care system is in crisis, premiums are rising, access to primary care is limited, and clinicians are burdened by documentation and administrative work. The committee vote on its amendment was 10-0-1, and the bill was also referred to Ways and Means and Appropriations because of fiscal implications. The transcript cuts off as the House was beginning consideration of the bill.

Transcript Highlights:

• The aggregate is off the charts.
• The aggregate is off the charts.
• So I wouldn't have a ton of data. I could, you know, obviously, and I don't have... A ton of data.

Summary: The Natural Resources and Disaster Subcommittee met to continue its review of hurricane impacts and state response. The committee first heard from the Florida Division of Emergency Management, which described its four core functions—preparedness, response, recovery, and mitigation—and highlighted its 24/7 State Watch Office, regional training efforts, and disaster assistance work. Deputy Executive Director Keith Pruitt detailed the state’s 2024 storm response, including Hurricanes Debby, Helene, and Milton, citing large-scale mission support, flood-control deployments, meal and water distribution, power restoration, debris removal, and billions in disaster funding and mitigation dollars. He also discussed debris management challenges and recommended that local governments update and exercise debris plans and maintain contingency contracts.

Transcript Highlights:

• That's why it's not included in this data.
• So the data associated with those facilities will not be reflected in what I'm sharing today.
• We identify and track those things, and we estimate what it would cost to replace it, and the aggregate
• I think that's a data-gathering process that I think we might decide as necessary.
• So far we've been data gathering, right?

Keywords: 995, all

Summary: The Special Commission on Correctional Consolidation and Collaboration met on October 17 with members attending in person and virtually. The commission approved the September 15 minutes and then heard a detailed presentation from DCAM Commissioner Adam Bakey on the correctional facilities portfolio, including the age and condition of DOC and sheriff facilities, deferred maintenance, ADA compliance, decarbonization mandates, and how capital funding is allocated. Bakey said the correctional portfolio includes 36 facilities, with average ages over 50 years, and described how older, rapidly built facilities from the tough-on-crime era now face significant maintenance and replacement needs. He also explained the distinction between catch-up deferred maintenance and ongoing keep-up needs, and noted that construction costs and code thresholds have made projects more expensive. Commissioners and sheriffs asked about ADA requirements, aging and overcrowded facilities, hazardous materials, parts availability for obsolete systems, plumbing and health risks, and whether a newer, more modern correctional facility should be considered. Bakey said many projects trigger broader code upgrades, that some dormant facilities remain in the portfolio, and that health-care and correctional construction are among the most expensive building types. He outlined current funding, including annual deferred maintenance allocations for DOC and formula-based five-year commitments for sheriffs, plus a new competitive capital program for larger sheriff projects. He also explained the Designer Selection Board and “house doctor” process used to procure architects and engineers. The commission then shifted to planning its next steps, focusing on public input. Members agreed the next meeting should likely be a public hearing or include public testimony, with possible input from people with lived experience and consideration of facility tours, especially of women’s facilities such as Framingham. Members emphasized the need to define the commission’s scope clearly so testimony stays focused on structural and consolidation issues rather than all correctional policy topics. The meeting ended with plans for the co-chairs to coordinate the public process and a motion to adjourn, which passed without opposition.

Transcript Highlights:

• general fund analysis from MMB, the November 2024 expenditure forecast from DHS, and the background data
• general fund analysis from MMB, the November 2024 expenditure forecast from DHS, and the background data
• general fund analysis from MMB, the November 2024 expenditure forecast from DHS, and the background data
• MMB produces the aggregate economic forecast. DHS is an integral part in that.
• <00:21:42.159> economic m&b produces the aggregate economic m&b produces the aggregate

Keywords: 1183, house

Transcript Highlights:

• I know we've talked about data and medical malpractice reform.
• We do not have the data.
• We are making sure that when we're looking at data, we're fine-tuning it and aggregating it down to our
• I think Senator Pope touched on it when it comes to data.
• How can we further aggregate that data so that we're not just looking at one line Item that consists

Transcript Highlights:

• Adequate safety data does not exist.
• <00:29:19.679> that want you don't want to know data that want you don't want to know data
• <00:34:33.440> in distribution of immunization data in distribution of immunization data in
• <00:57:40.079> and need to collect immunization data and need to collect immunization data
• We just don't have data in helps kids? We just don't have data in my<02:56:47.120> opinion.

Keywords: 1189, house, all

Transcript Highlights:

• With the receipt of these funds and paying off the IUAL, the OAB, that is revising that aggregate contribution
• 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.
• showed previously on, I think, slide two, for the amortization payments of 565 for and the total aggregate
• showed previously on, I think, slide two for the amortization payments of 565 for and the total aggregate

Summary: The Public Retirement Systems Actuarial Committee met on June 22 and approved the minutes from the February 23, 2026 meeting. There was no public comment. The main discussion focused on Louisiana State Employees’ Retirement System (LASERS) and how appropriations from House Bill 312 of 2026 affect the system’s actuarial valuation and employer contribution rate for fiscal year 2027. Staff explained that HB 312 provided about $145 million in appropriations to LASERS, with roughly $87.6 million applied to the original amortization base and about $57.9 million applied to the experience account amortization base. As a result, the projected aggregate employer contribution rate for the fiscal year beginning July 1, 2026 was revised from 32.51% to 30.05%, a reduction of 2.46%, and the required projected employer contribution was updated to about $738.7 million. The presentation also noted that the June 30, 2025 valuation itself did not change, only the projected 2026 rate, and that the original amortization base would be paid off by June 30, 2026. Committee members asked about the longer-term effect of the changes, including a projected 2036 payment reduction. Staff explained that later-year UAL payments would be lower, but that the exact savings would depend on future actuarial experience and investment performance. The committee then adopted the motion to revise the projected fiscal year 2027 LASERS aggregate contribution rate to 30.05%, subject to the appropriation, and later adjourned without opposition.

Transcript Highlights:

• So you aggregate just those three things.
• So you aggregate just those three things.
• very successful in addressing with federal funds, but as these federal funds recede, do you have a data
• mentioned that we recently launched a public-facing website, mass.gov/Fed Impact, and that has some data
• . ...and that has some data that we're collecting across the sort of CFOs, across the Healey-Driscoll

Keywords: 995, all

Summary: The inaugural hearing of the newly named House Committee on Federal Funding, Policy and Accountability focused on how federal policy changes could affect Massachusetts, especially in education, health care, research, infrastructure, climate, and business conditions. Chair LaNatra said the committee was created to monitor federal funding decisions and their impacts on state programs and services. Members introduced themselves, then heard testimony from Doug Howgate of the Massachusetts Taxpayers Foundation, Sarah Mills of Associated Industries of Massachusetts, and Quentin Palfrey, the governor’s Director of Federal Funds and Infrastructure. Howgate argued that the Trump administration and new Congress pose ideological, practical, and process-related risks to Massachusetts, citing proposed cuts to Medicaid, education, research, and other domestic programs. He said federal dollars make up about a quarter of the state operating budget and capital plan, warned against using one-time reserves to backfill ongoing federal cuts, and urged the state to prioritize core services while protecting areas where Massachusetts is especially strong, such as higher education and research. In response to committee questions, he said the House Medicaid proposal would still cost Massachusetts hundreds of millions and that international student and NIH-related changes could harm the state’s labor force and innovation economy. He also advised that the state communicate clearly without overreacting to daily federal developments. Mills testified that AIM members are most concerned about uncertainty, tariffs, Medicaid cuts, and NIH reductions. She said tariffs are raising costs, disrupting supply chains, and hurting small and medium-sized businesses, housing construction, and exporters, with AIM’s business confidence index falling to its lowest level since the pandemic. She said Medicaid cuts would raise employer health costs, reduce productivity, and strain the health care system, while NIH cuts would threaten Massachusetts’ life sciences and academic research ecosystem. In questions, she said AIM has increased federal outreach, is coordinating with the U.S. Chamber and the Massachusetts delegation, and is hearing concerns from employers about immigration compliance and workforce disruptions. Palfrey described the Healey-Driscoll administration’s efforts to maximize federal funding, including a biweekly interagency council, a municipal partnership effort, and a statewide roadshow. He said Massachusetts has secured nearly $9 billion from major federal laws for projects such as the Cape Cod bridges, Allston Multimodal, grid modernization, clean-energy school buses, and broadband. He also said the administration launched a public website to track federal impacts and is working with municipalities, nonprofits, and the Attorney General on grant changes, legal issues, and litigation. In response to questions, he warned that cuts to NOAA, NSF, Medicaid, SNAP, and other programs could affect services and the state budget, and said the administration is tracking changes to federal grant applications and conditions. No votes were taken; the hearing was informational only.

Transcript Highlights:

• All data is stored in the panel's data tool, which consists of 22 fields with over 200 data points.
• in the panel's data tool data is stored in the panel's data tool which<01:04:12.559> consists
• I know Kiprick has a lot of data. Public Health has data.
• They have data.
• I know Kiprick has a lot of data. Public Health has data.

Keywords: 1. Call to Order and Roll Call – 00:00:24 2. Discussion of The Center for Courageous Kids – 00:02:46 3. Discussion of Adult Protective Services and State Guardianship Programs – 00:25:22 4. Discussion of Annual Report of the External Child Fatality and Near Fatality Review Panel – 01:00:34 5. Consideration of Referred Administrative Regulations – 01:33:41 6. Adjournment – 01:42:07, 958, all

Summary: The committee’s first interim meeting opened with roll call and a reminder that Kentucky had 8,641 children in out-of-home care with active placements as of June 1, 2025. The first presentation was from the Center for Courageous Kids (CCK), a donor-funded camp in Scottsville that serves children with lifelong illnesses and disabilities at no charge. Representatives described the camp’s history, its year-round family retreats and summer sessions, its medical and accessibility supports, and its impact on campers’ confidence and independence. They said CCK has served more than 43,000 campers from 46 states and 13 countries, including 22,000 from Kentucky, and noted plans to reach all 120 Kentucky counties. CCK also outlined future capital needs: a new art barn and a medical lodge. The organization said the art barn project would cost $2.5 million, with a legislative request of $1.5 million, and the medical lodge would cost $2.875 million, with a legislative request of $1.75 million. Members responded very positively, with several praising the camp’s work and one member asking about operational challenges. CCK said its main challenges are awareness, staff and volunteer recruitment, and expanding medical and housing capacity; it also said it is accredited by the American Camp Association and receives health and safety visits and audits. The committee then moved to a presentation on adult protective services and state guardianship programs from Jessica Wayne and Cliff Bryant of DCBS. They explained the legal framework for guardianship, the difference between full and limited guardianship/conservatorship, emergency appointments, and the state’s role as a last-resort guardian when no family member or private entity is available. They reported 4,464 individuals under state guardianship as of June 1, with most cases involving dementia, developmental disability, intellectual disability, nursing home or long-term care placement, severe mental illness, or brain injury. They also said the division has 89 field workers across 14 regional offices, with an average caseload of 52 and a goal of reducing that into the mid-40s through additional hiring.

Transcript Highlights:

• then really having a comprehensive data then really having a comprehensive data set<00:30:49.799
• system of data collection which standard system of data collection which currently<00:33:17.600>
• of what disaggregated data definition of what disaggregated data means<00:37:59.079> M<00:37:
• He added that the sentencing judge is public data, but if it is aggregated and misused, it can become
• He added that the sentencing judge is public data, but if it is aggregated and misused, it can become

Keywords: 1187, senate, all

Transcript Highlights:

• There's a four-point drop across four years, as you saw in the aggregate data.
• data.
• People wanted their data faster.
• I'm going to go back to the data and what the data says.
• Data. So, data makes me happy.

Transcript Highlights:

• We analyzed 2023 data; that’s the only complete, most recent data we had last year.
• and store data.
• It does not sell anybody’s data.
• data.
• does not collect data and store data<00:37:44.040> it<00:37:44.200> relies<00:37:44.720

Keywords: 928, house, all

Summary: The working session focused on the New Hampshire Prescription Drug Affordability Board’s budget request and its recent work. Early discussion centered on a technical question about a statutory dedicated fund for donations: members asked why the budget did not show a line item for accepting donations, and DHHS CFO Nathan White explained that the statute already authorizes the fund, but because no revenue has been received yet, it does not appear in the budget. He said any future donations would go through the normal process under RSA 14:30-a, with fiscal committee and Governor and Council approval and a memo to the Department of Revenue Administration. The chair clarified that the account was not a prerequisite to soliciting donations, and White said the fund would supplement, not replace, General Fund support. Kirk Williamson, the board’s executive director, then presented the board’s mission and budget. He said the governor’s budget provides about $256,500 in the first year and slightly more in the second, all General Funds, and that the board had distributed a technical amendment to continue the executive director position. He described the board’s role as analyzing prescription drug costs, identifying savings opportunities, monitoring market trends, promoting transparency, and making recommendations to the legislature and public payers. He also emphasized that the board operates publicly, with live-streamed meetings and a stakeholder advisory council that includes unions, state agencies, Medicaid, corrections, higher education, and other stakeholders. A major topic was the board’s estimate of $6 million in potential savings, based on Medicare’s newly negotiated prices for 10 drugs. Williamson explained that the board used those federal negotiated prices as a benchmark to estimate what New Hampshire public payers might be missing by not having similar leverage, and said the board is trying to build evidence for future recommendations rather than directly setting prices. Members asked how those potential savings could become actual savings, and Williamson said the board is sharing findings through its advisory council and feedback loops, though it has not yet sent a formal recommendation letter to specific purchasers. He also discussed the difference between pharmacy-benefit spending, which relies heavily on PBM-negotiated rebates, and medical-benefit spending, which is administered differently and is being added to the board’s next report. Williamson highlighted other work, including a model on Humira and a pending legislative effort to improve biosimilar competition, plus a proposed state-backed pharmacy savings card that would be no cost to the state and could save users about $240 per prescription based on Connecticut’s experience. No votes were taken during the session.

Transcript Highlights:

• <00:20:53.840> He's I'm going to share some data here.
• He's I'm going to share some data here.
• And secondly, teachers would need their aggregated sick leave in order to take off for maternity leave
• And secondly, uh teachers would need<00:30:23.919> their<00:30:24.240> aggregated<00:30
• in need their aggregated sick leave in order<00:30:26.159> to<00:30:26.720> take<00:30

Keywords: 958, all

Summary: The committee heard testimony from Rep. Ashley Tacket Laferty on a bill to expand minimum hazardous-duty retirement and health benefits for certain public safety workers injured in the line of duty. She used a video and examples from Floyd County to describe officers and an emergency management director who were catastrophically injured but did not qualify for existing hazardous-duty coverage because their employers had enrolled them in non-hazardous retirement plans. The bill would provide a minimum benefit of 25% of pay, plus 10% for dependent children and limited health coverage, for eligible workers who cannot return to hazardous work. Laferty said the proposal would apply retroactively through a five-year window, estimated to affect a limited number of workers statewide, and would be funded by small increases in employer contribution rates. Committee members questioned how many former employees might qualify, how the bill interacts with the pension system, and who would pay the added cost. Discussion also noted that local governments choose whether to place employees in hazardous or non-hazardous coverage, largely based on cost. The sheriff’s association was present online in support, and no vote was taken. The committee then heard Rep. Daniel Gber present a revised bill allowing teachers and school district employees to use accumulated sick leave to observe religious holidays not already on the school calendar, if they provide a personal statement and sufficient advance notice. He said the measure is intended to address the rigid school calendar and the difficulty teachers face in observing non-school holidays without losing service credit toward retirement. He noted that the earlier version of the bill had allowed make-up work time, but the current draft is shorter and focused on sick leave use. He also referenced a supporting letter from a constituent who could not attend because of weather. The bill was presented for discussion only, with no committee action reported.

Transcript Highlights:

• Uh, they've saved us in the aggregate probably nine figures.
• Uh, they've saved us in the aggregate probably nine figures.
• Uh, they've saved us in the aggregate probably nine figures.
• Uh, they've saved us in the aggregate probably nine figures.
• Uh, they've saved us in the aggregate probably nine figures.

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.