Transcript Highlights:

• individual who is not a citizen or legal resident of the United States or an agent, trustee, or fiduciary

Committee: House State Affairs

Transcript Highlights:

• The ASRS Board supervises the program, performs fiduciary duties, and determines the rights, benefits

Bills: HB2089 , HB2090 , HB2092 , HB2120 , HB2138 , HB2173 , HB2273 , HB2693 , HB2786

Committees: Senate Finance , Senate Senate Finance Committee of Reference

Keywords: retirement benefits, health insurance, premium payment, Arizona State Retirement System, contingent annuitant, long-term disability, benefits limitations, disability compensation, social security, retirement system, elected officials, ASRS, eligibility waiver, age 65, property tax exemption, disability, veterans, widows, income limits, Arizona Revised Statutes

Transcript Highlights:

• manage the multiple assets on endowment lands so that the board and the department can meet its fiduciary

Committee: Senate Resources and Environment

Transcript Highlights:

• Schoolcraft relating to the service of citation of a deceased person for the Subcommittee on Family Fiduciary

Transcript Highlights:

• We are going to know we are we have the fiscal, the fiduciary responsibility, especially here on this

Transcript Highlights:

• Because those things are changing all the time, but your insurance is in a fiduciary relationship with

Summary: The Health Care Facilities and System Subcommittee met with a quorum and considered five bills. HB 1101 on out-of-network providers drew the most discussion; Rep. Albert said it would require written notice when a patient is referred to an out-of-network provider and would count certain insurer payments toward deductibles. Several members and the Florida College of Emergency Physicians raised concerns about placing the burden on doctors’ offices, possible delays in referrals, and unclear enforcement, but the bill was reported favorably 16-2. Public testimony included support from AARP and concerns from emergency physicians about ER workflow and insurance-network transparency. The committee then unanimously approved PCS for HB 475, reducing fines for ambulatory surgery centers that violate good-faith estimate requirements from $1,000 to $250 per day, with a lower maximum penalty. The bill sponsor said the change was intended to right-size penalties for smaller facilities; witnesses from surgery centers and HCA supported it. HB 797, which would allow a nonprofit retirement community serving veterans and spouses to create veteran-and-spouse nursing home beds and transfer a certificate of need within 100 miles, also passed unanimously after members discussed whether it could affect access for veterans; the sponsor said it would create additional private beds rather than displace existing ones. HB 1085 on the Children’s Medical Services Program was amended and reported favorably 14-3. The bill would move managed care plan operations for medically fragile children from the Department of Health to AHCA, keep clinical eligibility at DOH, and shift PPEC services fully into managed care. The adopted amendment changed the waiver provision to require AHCA to develop and present a comprehensive redesign plan for the Medicaid model waiver for children receiving private duty nursing. Several members supported the goal but raised concerns about eliminating family choice and the impact on medically fragile children. Finally, HB 1353 on home health care services passed unanimously. The bill would remove geographic limits on home health administrators, allow more licensed RNs including contract RNs to perform visits, and revise the home health excellence award program. Supporters said it would address workforce shortages and improve access, while one member warned it could increase costs and competition for nurses. The committee adjourned after reporting all five bills favorably.

Transcript Highlights:

• IN 2023 TO LEGISLATURE PASSED THE GOVERNOR SIGNED HOUSE BILL THREE ADDING FOR THE REQUIREMENTS TO FIDUCIARY

Transcript Highlights:

• A breach of fiduciary duties? Oh, you can't respond. That's okay.
• But somebody attending that would get a pretty good dose of what would be required as a fiduciary for
• But somebody attending that would get a pretty good dose of what would be required as a fiduciary for
• All right, because the training is pretty specific that they have a fiduciary duty to the institution

Summary: The Senate Finance Committee met to hear interim charges on higher education transparency and on preventing fraud, waste, and abuse in state government. The chair emphasized accountability for taxpayer dollars and asked witnesses to address financial reporting, audit practices, and whether more frequent or comprehensive audits would improve oversight. Legislative Budget Board staff described how public university systems and most community colleges respond to requests about internal audit practices, noting that university systems generally follow a similar annual audit timeline and that community colleges use a more varied mix of internal and external audit arrangements. Members focused on gaps in reporting, especially Texas Southern University’s missing submissions for several years and Collin County Community College’s nonresponse to the LBB survey. The State Auditor’s Office then outlined its higher education audit work, including mandatory statewide single audits, DEI compliance audits, HUB and State Use Program audits, benefits proportional audits, and discretionary audits based on risk. The auditor said the office has released 43 higher-ed audit reports since fiscal year 2021 and has two audits in progress, and explained that internal audit reports from institutions help guide future audit selection. Senators pressed the office on the lack of enforcement authority, the value of internal auditors at each institution, and whether community colleges should have more standardized reporting and audit requirements. The auditor and general counsel said the SAO can refer suspected fraud to law enforcement but cannot itself enforce findings, while several senators suggested stronger clawback authority and more robust internal audit structures. The Texas Higher Education Coordinating Board explained that it collects annual financial reports, sources-and-uses data, and community college finance reports, and uses them for funding formulas and other reporting. It also trains governing board members and said it has limited regulatory authority, though community colleges must certify compliance annually and can lose eligibility for state funds if they do not. Members questioned the reliability of self-attested data, the adequacy of board training, and whether a single reporting structure would be more efficient. During public testimony, a ScholarShot representative argued for clearer, student-facing financial transparency so students can see total cost of attendance and the gap they must cover before enrolling.

Transcript Highlights:

• But the ultimate financial fiduciary of that state money is the CTED.
• But the ultimate financial fiduciary of that state money is the CET.
• for me some other things that we need to expect of our C-TEDs, what they need to be doing from a fiduciary
• for me some other things that we need to expect of our C-Teds, what they need to be doing from a fiduciary

Committee: House House Education Committee of Reference

Summary: The committee first heard House Bill 4043, which would require each school district and charter school, beginning in 2027, to ensure at least one employee at each school is trained in CPR, first aid, and AED use. The sponsor said he intended to amend the bill on the floor to ensure someone is trained at all times and to clarify AED language. The American Heart Association testified neutral with concerns, supporting CPR training but warning the bill could leave gaps if only one person is trained and noting the need for AED access and emergency planning. Parents whose son died in an Arizona kindergarten classroom urged support, saying school staff should be prepared to respond to emergencies. The committee recommended the bill do pass by a vote of 7-1 with four present. The committee then took up House Concurrent Resolution 2015, as amended by a strike-everything amendment supporting at least 60 minutes of daily physical activity for students and prominent display of federal dietary guidelines. A representative of End Chronic Disease testified in favor, arguing schools should help prevent chronic disease through health education and physical activity. The committee adopted the strike-everything amendment and then gave the resolution a due pass recommendation on a 12-0 roll call. House Bill 2621, in its strike-everything form and with a Garcia amendment, addressed enrollment and special education procedures for students in unorganized territory, students using certificates of educational convenience, and children of active-duty military parents. The sponsor explained the bill was meant to clarify confusing law, speed enrollment and evaluations, and reduce delays in services. Champions for Kids supported the measure and the amendments, and the committee adopted both amendments before recommending the bill do pass 11-0. The committee also approved House Bill 2385, which limits superintendent contracts to one-year terms for the first three years unless the superintendent has already been employed three consecutive years; the sponsor framed it as a way to reduce costly early buyouts. That bill passed 7-4. Later, the committee approved House Bill 4106, creating the One Arizona Service Fellowship Program to provide service opportunities, stipends, and tuition awards for young adults, with an amendment changing the stipend contribution formula. The sponsor and supporters described it as a state-based service model inspired by Utah and aimed at education, military families, parks, hunger, and homelessness work; some members opposed it as an unnecessary state mandate or questioned the need for a new program. The committee also passed House Bill 2992, as amended, establishing a pilot program on child sexual abuse and assault awareness and prevention, expanded to K-12 and including grooming/exploitation content. A survivor advocate strongly supported the bill, while some members raised concerns about the funding source and possible unintended consequences. Finally, the committee passed House Bill 2370, which would require school leaders to notify governing boards before modifying weapons detection systems and to report changes within 24 hours; the sponsor cited a fatal school stabbing and other weapons incidents, while opponents argued the bill was too vague and could create operational problems. The committee also adopted a strike-everything amendment to House Bill 4056, allowing legislators making public records requests in their official capacity to avoid fees and requiring electronic production; the sponsor said it was needed after districts sought large fees, while opponents warned it could burden public agencies. The committee then began discussion of House Bill 2478, which would create an Arizona Commission on Student Outcomes to study K-12 accountability, finance, graduation requirements, and related issues, with proposed amendments to add early childhood study and change commission membership, but the transcript cuts off before final action on that bill.

Transcript Highlights:

• We are their fiduciaries. We are their responsible parties.
• We are their fiduciaries.<01:14:21.440><c> We</c><01:14:21.600><c> are</c><01:14:21.679><c> their</c>
• <01:14:22.400><c> their</c> fiduciaries.
• We are their their fiduciaries. We are their their responsible<01:14:23.440><c> parties.

Transcript Highlights:

• responsibility to ensure regulatory compliance, maintaining governance standards, and upholding fiduciary
• maintaining governance standards and maintaining governance standards and upholding<01:33:53.600><c> fiduciary
• </c> upholding fiduciary upholding fiduciary duties<01:33:55.920><c> in</c><01:33:57.120><c> uh</c><01

Committee: Senate Commerce

Transcript Highlights:

• And, um, I think my main responsibility as a board member is the fiduciary responsibility to the taxpayer
• 35.280><c> the</c> responsibility as a board member is the responsibility as a board member is the fiduciary
• responsibility</c><01:30:36.719><c> to</c><01:30:36.840><c> the</c><01:30:37.000><c> taxpayer</c> fiduciary
• responsibility to the taxpayer fiduciary responsibility to the taxpayer and<01:30:38.080><c> making<

Committee: Senate Economic Development and Tourism

Summary: The committee heard several bills, beginning with HB 934 on broadband and digital equity. Testifiers from the Lieutenant Governor’s office, the Office of Enterprise and Technology Services, DCCA, the University system, the Hawaii State Council on Developmental Disabilities, and others generally supported the measure and emphasized the need to coordinate broadband efforts, fund operations, and expand access to high-speed internet, devices, and digital navigation services. The Chamber of Commerce and West Coast Comprehensive Health Center supported the bill but objected to HD1 language excluding broadband infrastructure for retail service, warning it could create unintended consequences and limit community-led or rural projects. The Lieutenant Governor explained the state expects roughly $400 million to $500 million in federal broadband funding, described the bill as consolidating efforts under a broadband office attached to the CIO, and said the office would focus on infrastructure, devices, and training. No vote was taken on HB 934 in the portion provided. The committee then took up HB 97 on travel insurance. The Insurance Division said it had no major problem with the product but requested technical changes to align with licensing requirements and noted the bill largely codifies practices already used in the industry. Industry witnesses from Allianz and the U.S. Travel Insurance Association said the measure would create a consistent framework, add consumer protections, and align Hawaii with the NAIC model adopted in many other states. Members questioned whether there was a specific problem the bill was solving, and the division responded that it was mainly a framework and form-review measure rather than a response to a known enforcement issue. The bill was discussed but no final action was reported in the excerpt. HB 448 on technology enablement drew broad support from the Hawaii Technology Development Corporation, the Chamber of Commerce, the Food Industry Association, and other business representatives. Supporters said the measure would help businesses use technology such as digital platforms, e-commerce, robotics, and AR/VR to improve competitiveness, especially in tourism and other sectors. Committee members pressed for clearer scope, cost estimates, and assurances that local companies would be used; the agency said it would prioritize local-first contracting, use federal NIST-related support where possible, and estimated an initial request of about $200,000, though it could not give a firm total. Members expressed concern that the plan was still too undefined. The committee then began HB 455 on small business loans, where the Attorney General suggested explaining why a special fund is needed, and a witness from H Collaborative said the bill would help startup businesses that struggle most to access capital.

Transcript Highlights:

• Minnesota also enacted a subtraction to allow a state-level dependent exception for fiduciary and trust
• a state level dependent dependent dependent exception<01:26:45.159><c> for</c><01:26:45.480><c> fiduciary
• </c><01:26:46.360><c> andate</c><01:26:46.960><c> trust</c> exception for fiduciary andate trust exception
• for fiduciary andate trust Minnesota<01:26:48.040><c> enacted</c><01:26:48.360><c> an</c><01:26:48.520

Committee: Senate Taxes

Transcript Highlights:

• Literally, someone can come in and say, here's who I want as my 403b fiduciary or my 457.
• Literally, someone can come in and say, here's who I want as my 403b fiduciary or my 457.
• Literally, someone can come in and say, here's who I want as my 403b fiduciary or my 457.

Transcript Highlights:

• know... up the basic allotment and give them this money to do all these things with, but they are fiduciary
• . just like we are, and we're fiduciaries of state taxpayer money.
• here's the money you do all of these things and then if they don't get done how is that being a good fiduciary

Bills: HB2 , HB2

Committee: House Public Education

Keywords: public education, teacher compensation, certification, funding, school finance, educator rights, education funding, charter schools, staff compensation, state aid, retention allotment, disaster preparedness, emergency management, flooding, mass fatality, mass casualty, fatality tracking, body recovery, autopsy, justice of the peace

Transcript Highlights:

• These companies have a fiduciary duty to their shareholders to clear their balance sheets, and that's
• These companies have a fiduciary duty to their shareholders to clear their balance sheets, and that's

Summary: The committee heard a series of natural resources bills, with several measures accepted on committee amendments and moved forward on party-line or near-unanimous votes. AB 2461 on oil and gas bonding and well-closure financial assurance drew strong support from environmental groups and some legislators, while an industry representative was neutral and warned about unintended consequences and reduced transfers. Senators Laird and Cabaldon supported the bill as a clarification of AB 1167, and the committee voted do pass as amended to Appropriations, with the bill placed on call. The committee also approved a consent calendar of 10 bills, which was moved and held on call. AB 53 by Assemblymember Ramos, as amended, would expand tribal eligibility for conservation grants and loans and express legislative intent to create a process for returning ancestral lands to federally recognized tribes. Tribal and environmental supporters argued the bill recognizes tribal stewardship and helps remove barriers to conservation participation, while county, farm bureau, and habitat league witnesses raised concerns about long-term land management, public accountability, easements, and jurisdiction if lands are transferred. Committee members emphasized the importance of preserving conservation protections and continuing work on the land-return framework; the bill was moved do pass as amended to Appropriations and held on call. AB 2679 on Lake Tahoe corridor safety and access was supported by local officials and the Tahoe Regional Planning Agency, who described dangerous parking, pedestrian conflicts, and a successful shuttle pilot, and the bill was moved do pass as amended to Appropriations. AB 1666, creating biomass innovation parks and other incentives for non-combustion uses of forest and agricultural biomass, received broad support from business, conservation, and local government witnesses, with senators framing it as a way to address wildfire debris and create rural jobs; it also advanced do pass as amended to Appropriations. AB 2494, which would modernize the demonstration state forest system and elevate biodiversity, recreation, carbon storage, and tribal stewardship over maximum sustained production, drew strong support from environmental and tribal advocates but significant opposition from forest industry, county, and research witnesses who warned it could undermine research, sustainable forestry, and local economies; the author said he would continue negotiations, and the bill was moved do pass to Appropriations. The committee also heard AB 2234, which updates the definition of geothermal exploratory projects, and AB 2521, which seeks to use the California Council on Science and Technology for watershed-wide water availability analyses to help identify excess water for groundwater recharge. Both bills had support from sponsors and some stakeholders, while AB 2521 drew concerns from agricultural water interests about agency reliance, public trust considerations, and funding. Both measures were moved do pass as amended to Appropriations. Finally, AB 2410 would extend a CEQA exemption for certain fuels-reduction projects in high fire-risk areas; local government groups supported it as a wildfire-prevention tool, while environmental and other opponents argued the remaining exemption still weakens habitat protections and public review, and one witness sought to remove conventional herbicides from the exemption.

Transcript Highlights:

• And the board's fiduciary duty requires it to enforce the plan as written for all members and beneficiaries
• That deadline is the first 30 days of employment, and the board's fiduciary duty requires it to enforce

Committee: Senate Judiciary A

Summary: The committee first approved the May 5 minutes and then heard House Bill 578, which would define sex in Louisiana law as biological sex, replace references to gender with sex in various statutes and forms, and direct the Law Institute to make conforming changes. Supporters from the governor’s office said the bill would bring clarity and consistency, while opponents argued it could create conflicts with existing law and weaken protections tied to gender identity. After debate, the committee reported HB 578 favorably. Members then considered House Bill 1250, a measure aimed at aerospace-related litigation. The bill would allow a special motion to strike certain claims against aerospace flight entities when the claims are preempted by federal law. Senators raised concerns that the language was broad enough to affect airports, airlines, contractors, and even unrelated incidents, and the author said he was willing to work on narrowing amendments. The committee nevertheless reported HB 1250 favorably. House Bill 718, dealing with liability protections for private airstrips used for recreation, was amended to narrow its scope and then reported favorably, while House Bill 163, a narrower related airstrip bill, was voluntarily deferred so the committee could work from the other measure. The committee also approved House Concurrent Resolution 61, which asks the Louisiana Law Institute to review possible conflicts between the constitution and statutes on expropriation. House Bill 180, defining foreign adversaries and agents of foreign adversaries for a proposed constitutional amendment, and House Bill 192, a constitutional amendment barring foreign adversaries from expropriating land in Louisiana, were both reported favorably. House Bill 1008, which sets out academic freedom and whistleblower protections for higher education, was rejected on a roll-call vote after concerns about its scope and limits on university discipline. House Bill 638, a prompt-payment bill for contractors, was set aside while amendments were being located. Finally, the committee took up House Bill 71, which would extend existing liability protections for justified use of force to properly trained armed security guards. The author and the Board of Private Security Examiners said security officers receive training and often face dangerous situations, but opponents argued the bill would give too much protection to personnel with far less training than law enforcement and could shield bad shootings. After debate, the committee voted to defer HB 71. The last measure discussed was House Bill 1082, which would change venue rules for lawsuits involving the Municipal Police Employees’ Retirement System so actions by the system would be filed where the employer is located; the author said the bill was meant to help small municipalities, and members indicated they were open to narrowing amendments.

Transcript Highlights:

• And you'll see again and again in the bill, the fines all relate back to the sponsor who's the fiduciary
• So if the reason for all the new requirements is the sponsor's supposed fiduciary responsibility to the

Bills: HB1520 , HB1545 , HJR110 , HJR203 , HB245 , HB1465 , HB1482 , HB294 , HB793 , HB809 , HB3928 , HB334 , HB2037 , HB1973 , HB285 , HB4341 , HB4264 , HB 1043 , HB837 , HB 1234 , HB 1193 , HB 1194 , HB1646 , HB1729 , HB2498 , HB1314 , HB2295 , HB1353 , HB1531 , HB1988 , HB5398 , HB3960 , HB3923 , HB1407 , HB1764 , HB2221 , HB2214 , HB2517 , HB2518 , HB2213 , HB5008 , HB5092 , HB3421 , HB3663 , HB3748 , HB3800 , HB3756 , HB2613 , HB3782 , HB5246 , HB4344 , HB4044 , HB4066 , HB2702 , HB2807 , HB2869 , HB2898 , HB3181 , HB3250 , HB4153 , HB2091 , HB2115 , HB2542 , HB2768 , HB3349 , HB3352 , HB4406 , HB1593 , HB1899 , HB3133 , HB4432 , HB4960 , HB3214 , HB3915 , HB3508 , HB2145 , SB304 , SB608 , SB2312 , SB494 , SB530 , HB45 , HB2520 , HB35 , HB47 , HB318 , HB349 , HB554 , HB1359 , HB1373 , HB2254 , HB2259 , HB2853 , HB3073 , HB3088 , HB353 , HB355 , HB786 , HB762 , HB705 , HB932 , HB849 , HB 1119 , HB3041 , HB713 , HB3104 , HB3970 , HB4042 , HB4490 , HB1731 , HB2607 , HB3689 , HB1788 , HB1612 , HB138 , HB15 , HB1971 , HB1338 , HB2989 , HB267 , HB 1201 , HB2954 , HB5265 , HB1804 , HB5061 , HB1520 , HB1545 , HJR110 , HJR203 , HB1887 , HB1914 , HB2402 , HB2306 , HB1809 , HB2350 , HB3000 , HB3237 , HB3326 , HB3211 , HB 1056 , HB2081 , HB2187 , HB3092 , HB3308 , HB3526 , HB3750 , HB3527 , HB4219 , HB4230 , HB4290 , HB5238 , HB4804 , HB4749 , HB245 , HB1465 , HB1482 , HB294 , HB793 , HB809 , HB3928 , HB334 , HB2037 , HB1973 , HB285 , HB4341 , HB4264 , HB 1043 , HB837 , HB 1234 , HB 1193 , HB 1194 , HB1646 , HB1729 , HB2498 , HB1314 , HB2295 , HB1353 , HB1531 , HB1988 , HB5398 , HB3960 , HB3923 , HB1407 , HB1764 , HB2221 , HB2214 , HB2517 , HB2518 , HB2213 , HB5008 , HB5092 , HB3421 , HB3663 , HB3748 , HB3800 , HB3756 , HB2613 , HB3782 , HB5246 , HB4344 , HB4044 , HB4066 , HB2702 , HB2807 , HB2869 , HB2898 , HB3181 , HB3250 , HB4153 , HB2091 , HB2115 , HB2542 , HB2768 , HB3349 , HB3352 , HB4406 , HB1593 , HB1899 , HB3133 , HB4432 , HB4960 , HB3214 , HB3915 , HB3508 , HB2145 , HCR6 , HCR12 , HCR34 , HCR50 , HCR55 , HCR58 , HCR70 , HCR71 , HCR72 , HCR74 , HCR75 , HCR78 , HCR80 , HCR93 , HCR100 , HCR107 , HCR116 , HCR117 , HCR90

Keywords: Angelina and Neches River Authority, river authority, Sunset Advisory Commission, Texas Sunset Act, Special District Local Laws Code, local government, natural resources, board of directors, director training, board governance, public testimony, open meetings, public information, conflict of interest, ethics, complaint system, general manager, board president, staggered terms, removal of director

Summary: The Florida House considered multiple bills on Day 59 of the legislative session. Key legislation included CS for HB 1103 on developmental disabilities services, which expanded a pilot program statewide while maintaining current contracts. CS for SB 1730 addressed affordable housing with amendments protecting historic districts. CS for HB 443 on charter schools allowed stricter codes of conduct and virtual student athletic participation. CS for HB 209 prohibited golf courses and hotels in state parks. Lucy's Law (CS for HB 289) increased boating safety penalties and education requirements. CS for HB 1205 significantly restricted citizen ballot initiatives by requiring petition circulator registration, limiting volunteer collections to 25 signatures, adding financial impact statements, and imposing new penalties. The House also passed bills on animal cruelty databases, waste incineration restrictions, and spectrum alerts for individuals with developmental disabilities.

Transcript Highlights:

• Non-profits are structured to be independent fiduciary bodies.
• > Non-profits are structured to be Non-profits are structured to be independent<01:37:46.720><c> fiduciary
• </c><01:37:48.440><c> Board</c> independent fiduciary bodies. Board independent fiduciary bodies.
• We risk creating confusion where fiduciary duties should be clear.

Transcript Highlights:

• So our boards have a fiduciary duty.
• Our fiduciary duties, long-term investment, to maximize the return over the longest period of time.
• </c><00:42:12.000><c> Our</c><00:42:12.240><c> fiduciary</c><00:42:12.800><c> duties</c> that short term
• Our fiduciary duties that short term.
• Our fiduciary duties long-term<00:42:13.760><c> investment</c><00:42:14.560><c> to</c><00:42:14.880><

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