Transcript Highlights:

• At its core, this Labor, and Pensions.
• </c><00:09:34.000><c> simple</c> legislation is about one simple legislation is about one simple principle
• </c> the Biden Harris rule, this legislation the Biden Harris rule, this legislation ensures<00:20:07.760
• This legislation is overdue justice.
• </c> p.m. for legislative business. p.m. for legislative business.

Transcript Highlights:

• And so pensions are critically important to the welfare of our state.
• Same thing kind of works out here with the pension plan.
• Some people would argue you should fund the pension plan under this shorter period.
• And the report that's being used to determine what our pension contributions are.
• pension and payments to all the members.

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. Chair McKinnor and Senator Smallwood-Cuevas opened by emphasizing CalPERS’ importance to retirement security for public employees and to the state budget. Scott Tarando, CalPERS Chief Actuary and a CAP member, presented on the statutory disclosure requirements in Government Code Section 2029, including the use of CalPERS’ 6.8% discount rate and the need to show how changes in investment return assumptions and amortization periods affect liabilities, contribution rates, and budgets. Tarando explained that lower investment returns increase contribution rates and unfunded liabilities, while higher returns reduce them. He also described CalPERS’ 20-year amortization period for new unfunded liabilities, comparing it to a mortgage and noting that shorter periods raise near-term costs but reduce long-term interest costs. He said the CAP has recommended a 15- to 20-year range and that CalPERS’ current approach is intended to smooth volatility for a large, ongoing plan. Members asked about the meaning of average service lifetime, the timing of valuation data, whether more current data could be used, the effect of AI and workforce changes on assumptions, and whether contribution changes affect retiree benefits. Tarando said retiree benefits do not change with annual valuations, that CalPERS uses audited year-end data because it is the most reliable basis for rates, and that AI impacts are being monitored but are too early to quantify. Committee members also discussed CalPERS’ funded status, with Tarando saying it had improved from the mid-60% range about 10 years ago to around 79% at fiscal year-end and over 80% more recently, reducing pressure on employers and the state budget. Michael Cohen, CalPERS’ investment operations chief, said CalPERS had complied with federal information requests and that its annual audits are publicly available, but no formal federal review had been released. In public comment, a representative of the California State Association of Counties praised the improved funded status and the role of PEPRA reforms. The chairs closed by reaffirming CalPERS’ fiduciary duty and the goal of protecting retirement security for public workers; no votes were taken.

Transcript Highlights:

• </c><00:09:54.240><c> This</c><00:09:54.480><c> legislation</c> Department of Labor.
• This legislation Department of Labor.
• ><c> a</c><00:10:37.680><c> clear</c> The legislation then sets a clear The legislation then sets a clear
• This legislation puts the transparency burden on the proxy advisers themselves.
• So, in summary, this legislation requires truth in proxy advice.

Committee: Senate Economic Development, Tourism, & Labor

Transcript Highlights:

• Sports wagering revenue deposited $34.4 million in the pension fund and about $931,000 in the problem
• Those bring us to all-time totals of over $53.3 million to the pension fund and $1.48 million to the
• So the only report we would see would be the annual report that was required by the legislation.
• I think it's an October annual report that CHFS is legislated to do annually, and that's October.
• I am the legislative liaison for the department. Thank you all for being here today.

Summary: The subcommittee heard an update from the Kentucky Horse Racing and Gaming Corporation on sports wagering revenue allocations and problem gaming funding. KHRGC reported that in fiscal year 2024, about $34.4 million was deposited to the pension fund and about $931,000 to the problem gaming assistance fund; fiscal year 2025 to date, the totals were about $18.5 million and $556,000, respectively, bringing all-time problem gaming funding to about $1.48 million. Members also discussed wagering volume, with KHRGC stating Kentucky had about $3.5 billion in wagers from September 2023 through December 2024 and about $1.4 billion in fiscal year 2025 to date. KHRGC explained that it tracks the funds sent to CHFS and the self-exclusion list, but does not track the number of people seeking help or the outcomes of those calls. The Division of Mental Health then described how the problem gambling assistance account is used. Patty Clark and Sarah Cooper said the fund supports education, counseling, public awareness, counselor certification, and treatment-related costs, with $50,000 reserved for administrative expenses. They said the department has spent the last 18 months establishing criteria, funding standards, performance measures, monitoring, and application procedures, and that it issued notices of funding opportunity in October. They reported about 1.49 million in the fund through the end of January, with awards including support for the Kentucky Council on Problem Gambling conference, a public awareness campaign by Project Ricochet, and a youth-focused campaign by Shaunie Transformation Youth Coalition. Testimony also focused on the scope of problem gambling in Kentucky and how the helpline works. The department said fewer than 10 clinicians in Kentucky are specifically certified in problem gambling, though all addiction clinicians can provide services, and estimated about 165,000 adults show problem gambling behaviors, with 47,000 to 64,000 potentially meeting criteria for a gambling disorder. They said helpline calls rose to about 3,240 in 2024, but only about 25% were from people seeking help, with most callers seeking information about online wagering. Members asked about anonymity, follow-up, co-occurring alcohol or drug issues, and whether the fund should reimburse Medicaid or directly cover treatment costs. The presenters said calls are anonymous, outcomes are not tracked unless callers follow up, and the program is currently focused on building provider capacity and targeted outreach rather than direct reimbursement or a statewide campaign.

Transcript Highlights:

• A pension is a financial safety net, providing stable income to public employees when they retire.
• And so pensions are critically important to the welfare of our state.
• Some people would argue you should fund the pension plan under this shorter period.
• pension and payments to all the members.
• Pension plan. I look forward to seeing the updated data in terms of what will be presented.

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

Transcript Highlights:

• senators' pensions.
• pension increase.
• People have a general vague awareness that legislative pensions are linked to judicial pay.
• pensions.
• get a legislative pension increase and compensate our judges accordingly and fairly.

Bills: SB1637 , SB1 , HB300 , SB2601 , SB37 , HB2011 , HB3595 , HB3071 , SB12 , HB3372 , SB457 , HB2067 , SB2337 , SB447 , SB1506 , SB1566 , SB763 , HB3556 , SB13 , SB2018 , SB331 , SB379 , HB145 , SB441 , SB2878 , HB2885 , HB2017 , HB5246 , SB8 , SB2308 , SB1540 , HB 119 , SB1405 , SB3059 , SB15 , SB568

Summary: The House met in a late-session floor session that began with prayer, pledges, quorum, and a series of excused absences and Senate messages reporting action on numerous bills, conference committee appointments, and conference reports. Members also adopted a memorial resolution honoring Mark James Hanna, a Capitol lobbyist and advocate for nurses, and a congratulatory resolution for Rishi Tarumalasetti, an eighth-grade civics bee winner from Katy. The chamber also received and recorded a parliamentary colloquy about an unusual Senate request on SB 293, with the Chair stating the House could not recede from only part of its amendments and could not suspend the rules because the bill had not been returned from the Senate. The bulk of the session was devoted to taking up conference committee reports and related procedural resolutions, especially the state budget. The House adopted a resolution allowing the SB 1 conferees to go outside the normal bounds, then adopted the SB 1 conference report on a 107-21 vote. Debate on the budget centered on public education funding, tax relief, health care, corrections pay, and judicial compensation, with supporters calling it a responsible compromise and opponents arguing it was overly expansive and insufficient on property tax relief. The House also adopted a technical correction resolution tying judicial pay increases in SB 1 to the House version of SB 293, and members discussed at length the relationship between judicial salaries and legislative pensions. The chamber then adopted a long series of conference reports on measures covering topics such as school library review and book challenges (SB 13), SNAP restrictions on sweetened drinks and candy (SB 379), hospital price transparency (SB 331), nursing home accountability (SB 457), school district personnel compensation conflicts (HB 3372), property notice rules (HB 2011), research and development tax credits (SB 2018), and several other bills affecting elections, permits, education, and criminal justice. Most reports passed by wide margins, though some drew significant opposition, especially SB 13 and SB 379. The House also granted several Senate requests for conference committees and introduced additional resolutions to suspend conferee limits on various bills as the session moved toward adjournment.

Transcript Highlights:

• Now on to the pension liability.
• Now on to the pension liability.
• So why does the pension liability fluctuate? So why does the pension liability fluctuate?
• These changes are not reflected in the pension liability reported in the 2025 ACFR because the pension
• But for the purposes of brevity, questions on legislation in the ethics, Questions on legislation in

Summary: The committee met to receive a series of audit presentations, beginning with the statewide Annual Comprehensive Financial Report (ACFR) for fiscal year 2025. The State Auditor’s Office and OMB reported a clean, unmodified opinion for the state, with strong financial results including a $40.6 billion net position, $30.99 billion in assets, $1.81 billion in liabilities, and continued Legacy Fund growth. OMB also explained the new GASB 101 compensated-absences reporting change and discussed pension-liability fluctuations tied to discount-rate assumptions and investment performance. Members asked about how the state compares to others and about the effect of short-term commodity price swings, and OMB said the report reflects actual fiscal-year results rather than forecasts. The committee then heard the University System audit, which also received a clean opinion but included four findings: misreporting of Strategic Investment and Improvements Fund revenue, insufficient monitoring of service organizations at CTS, NDSU, and UND, improper bank reconciliations at Dakota College of Bottineau, Dickinson State, and Williston State, and investment/cash reconciliation problems at Bismarck State College related to bond proceeds. University officials agreed with the findings and said corrective actions were underway, including internal review of bank reconciliations. Members raised questions about NDSU’s use of certificates of deposit, and university staff explained that CDs are used to earn interest on funds being accumulated for future projects. Several other audits were presented, most with clean opinions and no findings, including the State Auditor’s Office, Workforce Safety and Insurance, Housing Finance Agency, Housing Incentive Fund, Job Service North Dakota, the Retirement and Investment Office, PERS, the Center for Distance Education, the Commission on Legal Counsel for Indigents, the Ethics Commission, and the Office of Administrative Hearings. Notable exceptions included a State Fair Association audit with an adverse opinion on the foundation component unit because its financial statements were not available for audit, and a Securities Department performance audit finding that performance-based pay increases and bonuses were issued without required evaluations. The committee also discussed the State Auditor’s future needs, including more staff capacity, data analytics, cybersecurity reviews, possible subpoena authority, independent legal counsel, and whether some audits—such as the Ethics Commission and State Fair—should be handled by independent third parties or under different statutory arrangements.

Transcript Highlights:

• liability and our pension liability.
• To make forward payments to pay down our unfunded pension liability.
• It's a little bit old, but unfunded pension liability stood at 40.5.
• But unfunded pension liability stood at $40.5 billion.
• schedule, actually But unfunded pension liability stood at $40.5 billion.

Summary: The Senate first adopted two resolutions commending the Plimpton Historical Society for Deborah Sampson Day and Megan’s Light for recognizing May 2026 as Cystic Fibrosis Awareness Month. It also suspended Joint Rule 12 on several House petitions, referred those matters to committees, and later took up final passage of two local bills: one authorizing Dartmouth to grant an additional off-premises liquor license and another relative to the charter of Westwood. Both bills were passed to be enacted and sent to the Governor. The main business of the session was the opening debate on the Senate Ways and Means FY27 budget, which was described as a balanced $63.3 billion proposal. The chair and supporters highlighted major investments in unrestricted local aid, Chapter 70 education funding, regional school transportation, rural aid, community college affordability, food security, housing, and health and human services. They also emphasized that the budget was built on the consensus revenue estimate, included no new taxes or tax cuts, did not use the rainy day fund, and relied in part on federal funds and Fair Share revenue. In extended questioning, the minority leader pressed for details on the budget’s assumptions and cost drivers, including federal participation, Fair Share revenue, debt service, MassHealth caseload and spending, pension and OPEB liabilities, settlement reserves, collective bargaining funding, and controls against waste, fraud, and abuse. The chair responded that federal funds account for about 22% of budgeted revenues, Fair Share revenue is estimated at about $2.7 billion, debt service is about $2.67 billion, MassHealth and related health and human services total about $36.4 billion, pension funding is $5.1 billion, and OPEB receives a $150 million payment. Members also discussed the C-3 child care program, DTA program integrity, and housing permitting reforms, with several senators speaking in support of the budget’s priorities and urging further debate and amendments before final passage.

Transcript Highlights:

• All right, the Select Committee on Pension Policy Executive Committee meeting is in order.
• update those fiscal notes going into next session if either of those topics proceed during the legislative
• , that bill wasn't, you know, stamped and sealed as an official bill from the Select Committee on Pension
• Policy, so we have some of... ...from the Select Committee on Pension Policy, so we have some options
• The language of a separate use of the money being referred to a pension funding group that I have no

Committee: Joint Select Committee on Pension Policy

Summary: The Select Committee on Pension Policy Executive Committee approved the September minutes and received updates on two court cases, Fowler and Dolan. Staff explained that Fowler concerns interest calculations for members who transferred from Plan 2 to Plan 3 before 2002; the Ninth Circuit has already found liability, and the remaining issue is damages, which could be significant depending on the expert-driven calculation. Dolan was described as quieter, with briefing completed at the Court of Appeals and oral argument possible later this year or early next year. The committee also heard an actuarial update on the interim work plan, including planned informational briefings on month-of-death policy, a Plan 1 ad hoc COLA, and the OSA demographic experience study, which is still under external audit. Members asked whether updated fiscal notes had been prepared for two bills under study; staff said preliminary analysis had been done and full updates would come if the bills move forward. The committee then discussed how to handle the ad hoc COLA item and agreed to have staff draft a letter endorsing House Bill 1474 and any similar Senate bill for a one-year ad hoc COLA, to be brought back for full committee consideration in November. Staff reviewed the draft November and December work plan. The committee adopted the November agenda, which includes annual updates from the State Investment Board and Retirement Systems, the left one study closeout, and the ad hoc COLA action item. Members also discussed whether excess compensation and 2026 session prep should be handled by email rather than in a meeting, with general agreement to move the session prep to electronic communication and possibly handle excess compensation as an informational item, depending on availability. Constituent correspondence included several messages on climate change and Plan 1 COLAs, including support for the merger bill and COLAs in general. Jacob White of the LEOFF 2 Board reported that the board had only held an educational briefing on excess compensation and overtime, found the data limited, and took no further action. The meeting ended with thanks to staff and an adjournment vote.

Transcript Highlights:

• I chair the Civil Service and Pensions Committee, and along with my colleagues in both houses, meaning
• Today is Tuesday, February 10th, 2026, and it's the second committee meeting of the 2026 legislative
• And legislator Dehmurad is Melvo. Oh, it's me. I'm messing up your name, forgive me.
• And legislator Dharakbira, oh boy. Welcome.
• Standing Committee on Civil Service and Pensions. With that, I'd ask you, thank you for coming.

Committee: Senate Civil Service And Pensions

Summary: The State Senate Civil Service and Pensions Committee met on February 10, 2026, with a quorum present and several members attending in person or by voting sheet. Chair Robert Jackson opened the meeting, welcomed a new committee member and visiting members of the Uzbekistan parliament, and noted that the committee would consider 11 bills. The discussion was procedural and focused on moving each bill through committee. The committee advanced a series of civil service, retirement, and benefits measures, including bills on compensation for employees with foreign language skills, health insurance and dental coverage for state employees, mental health care access for emergency dispatchers and correction officers, and several retirement-related proposals affecting correction officers, sheriffs, Nassau County members, and service credit transfers. Jackson also advanced his own bills on health disease presumptions for certain law enforcement and correction titles, retirement benefits, accidental disability retirement for sheriffs, and eligibility for city police retirement based on prior traffic enforcement service. Each bill was moved, seconded, and approved unanimously, with reported votes of 7 ayes, 0 nays, and 0 abstentions/without recommendation. All 11 bills were ordered reported to the Finance Committee. The meeting concluded without further discussion or additional actions.

Transcript Highlights:

• And so pensions are critically important to the welfare of our state.
• Some people would argue you should fund the pension plan over this shorter period.
• Some people would argue you should fund the pension plan under this short of a period.
• pension and payments to all the members.
• California Public Employees' Retirement System, CalPERS, is not just a pension fund.

Transcript Highlights:

• A pension is a financial safety net by providing stable income to public employees when they retire.
• And so pensions are critically important to the welfare of our state.
• Some people would argue you should fund the pension plan under this shorter period.
• Some people would argue you should fund the pension plan under this short of a period.
• pension and payments to all the members.

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.

Transcript Highlights:

• All right, next up, anyone opposed to this piece of legislation?
• But again, The note does talk about the blind pension fund.
• So this legislation would impose a 15% cap on the ability to, So this legislation would impose a 15%
• That is not this legislation.
• I'm here to support the legislation today, and I think it's common sense legislation.

Committee: House Special Committee on Property Tax Reform

Transcript Highlights:

• Alan Boxfiger for the Legislative Fiscal Office. Mr.
• It is similar, quite frankly, to some of our other pension counterparts.
• Other pension counterparts. I would tell you what we're different, Mr.
• Thank you, Representative Wiley, for bringing this legislation.
• The law requires the Joint Legislative Committee on the Budget...

Committee: Senate Finance

Summary: The Senate Finance Committee met with eight members present and deferred HB 127. It then considered a series of bills, most of which were reported favorably without opposition. HB 22 revised COLA rules for the clerks of court retirement system, allowing more frequent COLAs when the system is better funded; HB 324 made judicial stipends permanent and added future COLAs subject to available funding; HB 233 increased jury mileage reimbursement; HB 47 reorganized assessor retirement COLA statutes; HB 533 allowed St. Tammany Parish to transfer unused witness-fee account balances to the 22nd Judicial District Court; HB 980 adjusted eligibility for the Firemen’s Supplemental Pay Board; HCR 45 urged Congress to clarify ARPA deadlines for water projects; HB 559 increased court costs in the 4th Judicial District; HB 290 recreated the Department of Treasury and related entities in statute; and HB 382 addressed Joint Legislative Committee on the Budget review authority over Group Benefits plans. The committee also reported HB 1157 favorably, creating a financing bank mechanism for infrastructure projects, and HB 575 favorably, giving youth aging out of foster care preferred access to surplus state vehicles through the Louisiana Property Assistance Agency. Several measures drew more discussion. HB 1236, dealing with pharmacy benefit managers and professional dispensing fees, prompted extensive testimony from the sponsor, the Legislative Fiscal Office, the Department of Insurance, independent pharmacies, and PBM representatives. Supporters said it clarifies and strengthens enforcement of existing PBM law and protects independent pharmacies; opponents argued the bill’s requirement that PBMs bear dispensing-fee costs would be difficult to implement and could raise premiums. The sponsor said he would work on amendments, including clarifying language and a delayed effective date, and the bill was nevertheless moved favorably. SB 25, on registrar of voters compensation, was amended to a revised pay structure and then reported favorably. HB 47 and HB 533 were also presented as funding and administrative cleanups for retirement and court-related accounts, with local support noted. The committee also heard HB 233 on jury duty mileage reimbursement, which the sponsor said updates a 1961 rate and would be funded locally at an estimated average increase of about $4,000 per judicial district. HB 324 on judicial salaries was described as self-funded by the judiciary and subject to available funding, with no budget impact. HB 575 on foster youth transportation was presented as a non-appropriation measure aimed at helping youth aging out of foster care by giving them preferred access to surplus vehicles. HB 382, which concerns the Joint Legislative Committee on the Budget’s role in approving Group Benefits plans, was reported favorably with little discussion. The meeting ended after a motion to adjourn.

Transcript Highlights:

• We're convening to discuss the legislative matters presented this morning.
• They woke up bright and early to get a bus from Galveston to see their legislative process up close.
• Tie the hands of legislators far, far into the future. That's correct, sir.
• I'm so proud to support legislation that prevents wildfires from happening in the rural communities,
• and I'm thankful to the Texas House that we realize how important it is that we pass legislation that

Bills: HJR4 , HJR6 , HB195 , HB 13 , HB143 , HB135

Transcript Highlights:

• And so pensions are critically important to the welfare of our state.
• Some people would argue you should fund the pension plan under this shorter period.
• And the report that's being used to determine what our pension contributions are.
• pension and payments to all the members.
• California Public Employees' Retirement System, CalPERS, is not just a pension fund.

Transcript Highlights:

• </c><00:07:49.440><c> costs</c><00:07:49.680><c> for</c> employer share of pension costs for employer
• share of pension costs for their<00:07:50.080><c> employees.
• So to the the visa's pension system.
• We heard from the Joint Fiscal Office and also Legislative Council. The committee vote was 5-0.
• We heard from the Joint Fiscal Office and also Legislative Council. The committee vote was 5-0.

Transcript Highlights:

• You know, we look at a lot of information, a lot of data, as we analyze our pension systems and their
• </c> discussing this in public pension discussing this in public pension oversight<00:05:11.120><c> board
• During COVID, there was legislation passed and bumped that up to 10%, but that sunset last year.
• So what this legislation would change, it would put that at 10% for critical shortage areas.
• a couple years uh we passed legislation a couple years ago<00:14:06.160><c> that</c><00:14:06.320><c

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.

Transcript Highlights:

• Senate Bill 1985 creates the Strategic Pension Protection Act.
• Keep in mind that this is strictly for pension systems only.
• But this bill would simply only apply to the pension systems’ investments thereof.
• Is that effectively what this legislation does? Thank you for that question.
• You sooner or later, I believe this is good legislation in this sense.

Bills: SB1302 , SB1389 , SB1401 , SB1776 , SB1809 , SB1858 , SB1985 , SB2053 , SB2148

Committee: Senate Revenue and Taxation

Transcript Highlights:

• So there is a legislative report that goes into a lot more detail on those first three bullets.
• </c><01:14:20.719><c> contribution</c> basis uh Stronger pension contribution basis uh Stronger pension
• pensions liabilities pensions right<01:14:50.840><c> here's</c><01:14:51.040><c> the</c><01:14:51.159
• And so you have pension liabilities, OPEB liabilities, debt liabilities, lease liabilities.
• Kowalski, is it pensions in Illinois? That's my guess. I guess, yeah.

Committee: Senate Capital Investment