Video & Transcript Research : 'defined contribution plan'

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MN

Minnesota 2025 1st Special Session

Legislative Commission on Pensions and Retirement - 04/22/25

Minnesota Senate Floor Meeting

Transcript Highlights:
  • So in most of our plans either the employee and employer contribution are the same or the employer contribution
  • contributions to meet the normal cost and the administrative expenses of the defined benefit pension
  • expenses of the defined benefit pension plan.<01:31:19.360> Both<01:31:19.600> the<01:
  • :29.119> PAR<02:08:29.520> plan,<02:08:29.840> it's contribution.
  • For the PAR plan, it's contribution.
Keywords: 1187, senate, all
LA

Louisiana 2026 Regular Session

House of Representatives May 19th, 2026

Louisiana House Floor Meeting

Transcript Highlights:
  • Jensen has inspired countless individuals through his outreach efforts and contributed significantly
  • House Resolution by Representative Sam Knox to commend Chris Hanna for contributions to the American
  • That way we can plan for moving forward with the remainder of the session.
  • That way we can plan for moving forward with the remainder of the session. Thank you.
  • law, Representative Miller: Commercial health plans to cover bariatric surgery.
LA

Louisiana 2026 Regular Session

House of Representatives May 19th, 2026

Louisiana House Floor Meeting

Transcript Highlights:
  • Jensen has inspired countless individuals through his outreach efforts and contributed significantly
  • That way we can plan for moving forward with the remainder of session. Thank you.
  • Senate Bill 283 by Senator Abraham, inpatient licensed facilities, hospice care, patient care plans,
  • Members, this bill takes present law that defines CODIS as the Combined DNA Index System, the Federal
  • law, commercial health plans to cover bariatric surgery.
Summary: The House met on May 18, 2026, with a quorum present, and began with prayer, the pledge, leave requests, and several personal privileges recognizing visitors and groups at the Capitol, including early education advocates, a poster contest winner, Entergy’s River Bend Nuclear Station on its 40th anniversary, a Children’s Miracle Network champion, Community Action leaders, and Leadership Tangipahoa participants. The chamber also received Senate messages, enrollment reports, a conference committee report on Senate Bill 149 that was allowed to lie over, and a long list of House resolutions and Senate bills that were either introduced, referred, or set aside for later consideration. Several resolutions were adopted without objection, including measures recognizing Early Education Day, World Preeclampsia Awareness Day, Dora’s Voyager, Tourism Day, and National Mississippi River Day, while House Concurrent Resolution 98 on SNAP grocery delivery fees failed on reconsideration by a vote of 46 yeas to 39 nays. The House then took up a series of Senate bills. Among the measures passed were SB 39 on provisional massage therapist licenses; SB 111 on freshwater recreational fish limits in the Atchafalaya Basin; SB 124 on peer review confidentiality for health systems; SB 134 on child sexual abuse material and sexting involving minors under 17; SB 99 on electronic DEQ notifications; SB 190 on special-focus nursing facilities; SB 201 on juvenile life-without-parole sentencing procedures; SB 233 on a statewide data exchange compact; SB 236 on annual kidney disease reporting; SB 258 on juvenile traffic offenses; SB 270 on medical marijuana use by terminally ill patients in health care facilities; SB 273 on hospice care requirements; SB 307 on educational displays and a Ten Commandments monument on Capitol grounds; SB 320 on CODIS hit tracking; SB 321 on electronic bonds; SB 325 on excluding threatening persons from sports wagering; SB 331 on temporary exceptions to the Scenic Rivers Act for lower Pearl River Basin work; SB 339 on gaming-related background checks; SB 345 on annual OJJ reporting; SB 346 and SB 347 on deepfake misuse in schools and on campuses; SB 357 on judiciary cleanup provisions; SB 359 on hospital district commissioner terms; SB 387 on pharmacy benefit managers; SB 393 on explosives regulation; SB 401 creating a Prescription Drug Affordability Board; SB 415 creating the Empower Louisiana Food Purchase Program; SB 419 on pre-charged pneumatic devices for deer hunting; SB 422 on unsupervised probation for certain repeat DWI offenders; SB 426 on the Addictive Disorder Regulatory Authority and peer support credentials; SB 435 creating a Commission on Fatherhood Engagement; SB 437 on licensed treatment services in facilities housing judicially referred residents; SB 440 creating a Renaissance District in Rapides Parish; SB 451 on newborn hearing screening and intervention; SB 464 on severe obesity treatment coverage; SB 470 on pregnancy-related rules in correctional facilities; SB 487 on gaming premises rental agreements; and SB 488 creating a school safety drone response pilot program. Several bills were returned to the calendar for later action, including SB 189 on atmospheric releases affecting weather and climate, SB 326, SB 341, SB 353, and SB 495. A number of bills drew debate over policy and fiscal effects. SB 112 on school release time for religious instruction prompted questions about public-school participation, sponsoring entities, and parental consent; SB 189 on prohibiting intentional atmospheric release of substances for climate or weather modification passed 75-21 after questions about aircraft fuel dumping and agricultural exceptions; SB 201 on juvenile sentencing led to discussion of Supreme Court precedent and appellate review; SB 233 raised privacy concerns about interagency data sharing; SB 313 on electronic filing fees in criminal matters was criticized as a possible unfunded mandate and failed 25-68; and SB 451 on newborn hearing screening drew questions about board expansion, Medicaid coverage, and added administrative costs before passing 94-1. Most other bills passed with little or no opposition, and the House repeatedly adopted motions to table reconsideration after final passage votes. The chamber also announced it would stop debate at 5:00 p.m. and continued working through Senate bills as the Natural Resources Committee finished its meeting.
TX

Texas 89th Regular

89th Legislative Session May 10th, 2025

Texas House Floor Meeting

Transcript Highlights:
  • So define outstanding. Outstanding to me.
  • T.R.S. statute defines actuarial soundness for purposes of making modifications to benefit and contribution
  • define is vulnerable.
  • That's how you're defining. What? So yeah, legal and, it's not me. How do you personally define it?
  • Like, how do you define it?
NM
Transcript Highlights:
  • apprenticeship or training program would have a contribution of zero.
  • Chair and Representative, what is the plan for this bill?
  • It's not mandatory contributions except in some certain situations.
  • Chairman, of when this utility coordination, planning might be settled?
  • We've all contributed funds, and it, it, one of my concerns that I've had, and I've, contributed funds
Keywords: 996, all
Summary: The committee first took up HB 322, which would create a transportation trust fund and transportation program fund. The sponsor offered and the committee adopted an amendment striking the section that would have imposed a 1% gross receipts tax on electricity sales. After a recap of the bill’s remaining provisions, including a $400 million seed amount and future transfers from motor vehicle excise tax revenue, the committee heard brief support from Associated Contractors of New Mexico and the Asphalt Pavement Association and no opposition. The amended bill then passed on a roll-call vote. The committee then heard HB 270, a public works/apprenticeship bill that would require contributions to approved apprenticeship and training programs or to the Public Works Apprentice and Training Fund for public works construction projects, while eliminating an exemption for certain road, highway, utility, and maintenance work. Supporters, including union carpenters, electrical workers, the building trades council, and apprenticeship advocates, argued the bill would expand training, help address labor shortages, and provide a return on public investment. Opponents from utility contractors, highway contractors, and Associated Contractors of New Mexico said they already operate federally approved in-house training programs, warned the bill would raise project costs, and argued some trades have no accessible approved programs. Members questioned how the bill would interact with existing in-house programs, whether rural contractors and nonunion firms would be affected, and whether the state-approved fund and federal highway training requirements could conflict. A proposed amendment to exempt projects of $50 million or less was introduced but tabled. After extensive debate, the committee voted 6-5 to pass HB 270. The meeting also included discussion of a prior procedural error in which HB 270 had been heard before being properly assigned, which the chair said rendered that earlier action void. At the end of the meeting, the committee received a brief New Mexico Department of Transportation District 3 presentation on district projects, budget, and construction status.
KY
Transcript Highlights:
  • So let me define the career threshold for non-hazardous: that is 27 years of service.
  • So let me define the career threshold.
  • For hazardous employees, the excess can roll to additional plans that they have selected.
  • So this is both the employer and the employee contributing based on that information.
  • contribution rate to make up the difference to equal the benefit."
Summary: The meeting opened with roll call, a quorum was confirmed, and the minutes were approved. The committee then heard testimony on Senate Bill 9, which concerns TRS sick leave audit requirements and process. Auditor Allison Ball’s staff said the audit is an information-gathering review of how teacher sick leave is accumulated, current balances, how many employers use the sick leave function, and the policies and procedures governing sick leave. Members discussed how unused sick leave affects retirement calculations, the distinction between the state’s financial responsibility and school districts’ responsibility, and whether the audit would also examine related leave categories such as personal leave, annual leave, and leave of absence. Committee members emphasized that Senate Bill 9 was intended to add accountability and standardize reporting, including preventing annual leave from being rolled into sick leave. Several members asked for clarification on how sick leave is factored into retirement benefits. Witnesses and members explained that, under the system described, accumulated sick leave can be converted into retirement credit based on a teacher’s daily rate and then multiplied by a percentage, with the school district often bearing the cost. Members also noted nuances in the law, including different accumulation limits by hire date and tier, and that the audit may help the public better understand why some educators retire relatively young. The auditor’s office said it is still early in the process, has met with TRS leadership, and will report back once the audit progresses. The committee also asked whether maternity leave would be included; the auditor’s office said it was not specifically mandated but could be examined if the body requests it. The committee then received an overview of Senate Bill 10 from KPA representatives Ryan Barrow and Rebecca Atkins. They explained that the bill enhances retiree health insurance benefits for certain CRS members who are non-Medicare participants and meet specified career thresholds, with different rules for hazardous and non-hazardous service. They described the benefit as $40 per month per year of service for non-hazardous service and $50 per month per year for hazardous service, both inflated annually, and clarified that these amounts are not cumulative with prior benefit formulas. Members asked about the interaction between the new amounts and existing benefits, and the presenters explained that the bill also changes current employee health insurance contribution rates effective July 1, 2026, with different impacts by tier and hazardous status. The committee discussed the need for clear communication to affected employees and reviewed example calculations showing how the new contribution structure would work.
NM

New Mexico 2025 Regular Session

IC - Investments and Pensions Oversight Nov 5th, 2025

Investments & Pensions Oversight Committee

Transcript Highlights:
  • The contributions coming into the plan, and I was asked what we would need.
  • To fully fund the plan, our deficiency is... And contributions overall are 4.65%.
  • So we're underfunding that state general plan by about 10% in contributions.
  • We've been talking about employee contributions and employer contributions to help get us through this
  • to fully fund the plan.
AL

Alabama 2025 Regular Session

Alabama House May 1st, 2025

Alabama House Floor Meeting

Transcript Highlights:
  • That's the only board member that will not have any qualifications defined in that appointment.
  • The rest of them have qualifications defined. And I agreed to... Qualifications defined.
  • We are not even defined on the number of board members in this bill because multiple...
  • It sounds like a sweet plan. Is this going to create more of a destination-type feel?
  • So, um, overall I think it sounds like a great plan.
Bills: HB 1520, HB 1545, HJR 110, HJR 203, HB 245, HB 1465, HB 1482, HB 294, HB 793, HB 809, HB 3928, HB 334, HB 2037, HB 1973, HB 285, HB 4341, HB 4264, HB 1043, HB 837, HB 1234, HB 1193, HB 1194, HB 1646, HB 1729, HB 2498, HB 1314, HB 2295, HB 1353, HB 1531, HB 1988, HB 5398, HB 3960, HB 3923, HB 1407, HB 1764, HB 2221, HB 2214, HB 2517, HB 2518, HB 2213, HB 5008, HB 5092, HB 3421, HB 3663, HB 3748, HB 3800, HB 3756, HB 2613, HB 3782, HB 5246, HB 4344, HB 4044, HB 4066, HB 2702, HB 2807, HB 2869, HB 2898, HB 3181, HB 3250, HB 4153, HB 2091, HB 2115, HB 2542, HB 2768, HB 3349, HB 3352, HB 4406, HB 1593, HB 1899, HB 3133, HB 4432, HB 4960, HB 3214, HB 3915, HB 3508, HB 2145, SB 304, SB 608, SB 2312, SB 494, SB 530, HB 45, HB 2520, HB 35, HB 47, HB 318, HB 349, HB 554, HB 1359, HB 1373, HB 2254, HB 2259, HB 2853, HB 3073, HB 3088, HB 353, HB 355, HB 786, HB 762, HB 705, HB 932, HB 849, HB 1119, HB 3041, HB 713, HB 3104, HB 3970, HB 4042, HB 4490, HB 1731, HB 2607, HB 3689, HB 1788, HB 1612, HB 138, HB 15, HB 1971, HB 1338, HB 2989, HB 267, HB 1201, HB 2954, HB 5265, HB 1804, HB 5061, HB 1520, HB 1545, HJR 110, HJR 203, HB 1887, HB 1914, HB 2402, HB 2306, HB 1809, HB 2350, HB 3000, HB 3237, HB 3326, HB 3211, HB 1056, HB 2081, HB 2187, HB 3092, HB 3308, HB 3526, HB 3750, HB 3527, HB 4219, HB 4230, HB 4290, HB 5238, HB 4804, HB 4749, HB 245, HB 1465, HB 1482, HB 294, HB 793, HB 809, HB 3928, HB 334, HB 2037, HB 1973, HB 285, HB 4341, HB 4264, HB 1043, HB 837, HB 1234, HB 1193, HB 1194, HB 1646, HB 1729, HB 2498, HB 1314, HB 2295, HB 1353, HB 1531, HB 1988, HB 5398, HB 3960, HB 3923, HB 1407, HB 1764, HB 2221, HB 2214, HB 2517, HB 2518, HB 2213, HB 5008, HB 5092, HB 3421, HB 3663, HB 3748, HB 3800, HB 3756, HB 2613, HB 3782, HB 5246, HB 4344, HB 4044, HB 4066, HB 2702, HB 2807, HB 2869, HB 2898, HB 3181, HB 3250, HB 4153, HB 2091, HB 2115, HB 2542, HB 2768, HB 3349, HB 3352, HB 4406, HB 1593, HB 1899, HB 3133, HB 4432, HB 4960, HB 3214, HB 3915, HB 3508, HB 2145, HCR 6, HCR 12, HCR 34, HCR 50, HCR 55, HCR 58, HCR 70, HCR 71, HCR 72, HCR 74, HCR 75, HCR 78, HCR 80, HCR 93, HCR 100, HCR 107, HCR 116, HCR 117, HCR 90
FL

Florida 2025 Regular Session

House in Session May 1st, 2025

Florida House Floor Meeting

Transcript Highlights:
  • This amendment requires the plans that are currently providing services to individuals with developmental
  • This resolution recognizes the Hindu American community's profound contributions to Florida's cultural
  • plans, there are some different variations of occupancy.
  • The change of the bill was to say that any vacancy must be tied to that current management plan.
  • They've started a master plan, but they have never finished it.
Bills: HB 1520, HB 1545, HJR 110, HJR 203, HB 245, HB 1465, HB 1482, HB 294, HB 793, HB 809, HB 3928, HB 334, HB 2037, HB 1973, HB 285, HB 4341, HB 4264, HB 1043, HB 837, HB 1234, HB 1193, HB 1194, HB 1646, HB 1729, HB 2498, HB 1314, HB 2295, HB 1353, HB 1531, HB 1988, HB 5398, HB 3960, HB 3923, HB 1407, HB 1764, HB 2221, HB 2214, HB 2517, HB 2518, HB 2213, HB 5008, HB 5092, HB 3421, HB 3663, HB 3748, HB 3800, HB 3756, HB 2613, HB 3782, HB 5246, HB 4344, HB 4044, HB 4066, HB 2702, HB 2807, HB 2869, HB 2898, HB 3181, HB 3250, HB 4153, HB 2091, HB 2115, HB 2542, HB 2768, HB 3349, HB 3352, HB 4406, HB 1593, HB 1899, HB 3133, HB 4432, HB 4960, HB 3214, HB 3915, HB 3508, HB 2145, SB 304, SB 608, SB 2312, SB 494, SB 530, HB 45, HB 2520, HB 35, HB 47, HB 318, HB 349, HB 554, HB 1359, HB 1373, HB 2254, HB 2259, HB 2853, HB 3073, HB 3088, HB 353, HB 355, HB 786, HB 762, HB 705, HB 932, HB 849, HB 1119, HB 3041, HB 713, HB 3104, HB 3970, HB 4042, HB 4490, HB 1731, HB 2607, HB 3689, HB 1788, HB 1612, HB 138, HB 15, HB 1971, HB 1338, HB 2989, HB 267, HB 1201, HB 2954, HB 5265, HB 1804, HB 5061, HB 1520, HB 1545, HJR 110, HJR 203, HB 1887, HB 1914, HB 2402, HB 2306, HB 1809, HB 2350, HB 3000, HB 3237, HB 3326, HB 3211, HB 1056, HB 2081, HB 2187, HB 3092, HB 3308, HB 3526, HB 3750, HB 3527, HB 4219, HB 4230, HB 4290, HB 5238, HB 4804, HB 4749, HB 245, HB 1465, HB 1482, HB 294, HB 793, HB 809, HB 3928, HB 334, HB 2037, HB 1973, HB 285, HB 4341, HB 4264, HB 1043, HB 837, HB 1234, HB 1193, HB 1194, HB 1646, HB 1729, HB 2498, HB 1314, HB 2295, HB 1353, HB 1531, HB 1988, HB 5398, HB 3960, HB 3923, HB 1407, HB 1764, HB 2221, HB 2214, HB 2517, HB 2518, HB 2213, HB 5008, HB 5092, HB 3421, HB 3663, HB 3748, HB 3800, HB 3756, HB 2613, HB 3782, HB 5246, HB 4344, HB 4044, HB 4066, HB 2702, HB 2807, HB 2869, HB 2898, HB 3181, HB 3250, HB 4153, HB 2091, HB 2115, HB 2542, HB 2768, HB 3349, HB 3352, HB 4406, HB 1593, HB 1899, HB 3133, HB 4432, HB 4960, HB 3214, HB 3915, HB 3508, HB 2145, HCR 6, HCR 12, HCR 34, HCR 50, HCR 55, HCR 58, HCR 70, HCR 71, HCR 72, HCR 74, HCR 75, HCR 78, HCR 80, HCR 93, HCR 100, HCR 107, HCR 116, HCR 117, HCR 90
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.
TX

Texas 89th Regular

89th Legislative Session May 1st, 2025

Texas House Floor Meeting

Transcript Highlights:
  • Two lives defined by three simple words: humility, service, and humanitarianism.
  • Hudgens' life was defined by resilience, excellence, and a fierce curiosity.
  • We work closely with the vision plans and health plans and we...
  • Ditching process at the request of the benefit plans. I move adoption. Mr.
  • So I just wanted folks to know that I'm planning on voting no, and I'm planning on coming up here to
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
TX

Texas 89th Regular

Pensions, Investments & Financial Services Mar 3rd, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • The employee also makes contributions. on their own to the pension plan.
  • Just as a note, all state employees contribute both to the pension plan and to Social Security.
  • State employees, in addition... into contributing to the pension plan also contribute to Social Security
  • and your final average salary generally. really a very traditional, defined benefit plan.
  • teachers pension plans and active member contributions. We have and thank you for the question.
Keywords: 1184, house, all
MN

Minnesota 2025-2026 Regular Session

Committee on Finance - 05/12/26

Finance

Transcript Highlights:
  • is actually defined. is actually defined.
  • are in our pension plans. are in our pension plans.
  • In creating this plan, there is a change in the amounts of employer contributions for those folks who
  • are on the local plan.
  • employee contribution is factored in. employee contribution is factored in.
Keywords: 1187, senate, all
MN

Minnesota 2025-2026 Regular Session

State Committee Meeting - 2026-04-09

State Government Finance and Policy

Transcript Highlights:
  • deeply We have con- contributed deeply We have con- contributed deeply to<00:04:30.880> Minnesota
  • high-deductible health plans.
  • high-deductible health plans.
  • <00:52:31.320> in responsibility provisions defined in responsibility provisions defined in
  • plan a former planning being on a former plan a former planning board<00:59:44.120> and<00:59
Summary: The committee first approved the April 7, 2026 minutes and then held an informal hearing on House File 4364, which would establish a Central and Eastern European Ethnic Council in Minnesota. Representative Jordan and testifiers Mykola Mager and Julia Miller described the large Central and Eastern European community in Minnesota, its contributions to the state, and the need for a formal advisory body to help address barriers to government services, support refugees, workforce development, entrepreneurship, and cultural understanding. Members expressed general support and noted the bill’s importance, but no formal action was taken on the bill during the hearing. The committee then took up House File 4543, a bill to create a centralized payroll reporting portal for prevailing wage projects. Representative Frazier said the bill would reduce administrative burden on project owners, improve transparency and accountability, and help prevent wage theft, misclassification, tax fraud, and insurance fraud. Testifiers from county, city, and contractor groups largely supported the idea of streamlining reporting, but contractor representatives raised concerns about employee data privacy, public access to sensitive payroll information, duplication of existing systems, interoperability with contractor software, and the need for stakeholder engagement. Members echoed both support and caution, and the bill was laid over as amended rather than advanced. Finally, the committee considered House File 4821, described by Chair Klevorn as addressing the “penny problem” and a related change to high-deductible insurance plans. The bill would authorize state agencies to round cash transactions because of the penny shortage and would change MMB’s obligation to offer certain high-deductible health plans from “must” to “may,” producing modest administrative savings. Members questioned the drafting of the rounding language and asked about cash transactions at state agencies and the handling of cannabis tax payments. The chair noted the bill had missed the deadline and would be caught by the chief clerk’s office; the discussion ended with the bill being laid over as amended.
NH
Transcript Highlights:
  • So, um, the bill that is the defined contribution pension plan is a bill that went, um, in EDNA committee
  • So, um, the bill that is the defined contribution pension plan is a bill that went, um, in EDNA committee
  • that is the defined contribution pension plan<00:45:22.960> is<00:45:23.200> a<00:45:23.440
  • a defined contribution.
  • in 4% toward my defined contribution. in 4% toward my defined contribution. when<00:53:29.839>
Keywords: 928, house, all
Summary: The meeting was a House budget briefing focused on the overall state budget and the first of three divisions. The presenter reviewed the size and structure of the budget, noting that the state had eliminated the interest and dividends tax and still balanced the budget. He explained the major spending categories in the general fund and total budget, emphasizing that health and human services and education remain the largest areas, while transportation is largely self-funded. He also walked through the revenue picture, including business taxes, insurance taxes, court fees, communications taxes, and Medicaid recoveries, and said the remaining interest and dividends tax revenue reflected late payments from prior assessments. Members asked about the size of the tax cut from eliminating the interest and dividends tax, federal funding stability, and why Medicaid was being reduced if federal support was expected to remain steady. The response was that the lost revenue would have been about $200 million absent repeal, and that the budget gap was addressed through many small cuts across departments. On federal funds, the presenter said most aid is tied to multi-year grants and that core programs such as Medicare and Medicaid were expected to remain relatively stable, though some federal reductions could occur. He also said some agency reductions came from eliminating long-vacant, funded positions and from expected lapses. The discussion then moved into Division One, which covers smaller and miscellaneous agencies. The division made cuts to the governor’s office, eliminated a temporary position at the Governor’s Commission on Disability, reduced Department of Information Technology spending through a back-of-budget cut, and found savings in Administrative Services. It also delayed maintenance at the Sununu Youth Services Center, stopped advertising for paid family medical leave, changed retiree health insurance funding, and consolidated several personnel-related boards into one. The division eliminated the Commission on Aging and the Office of the Child Advocate, made a temporary special education advocate position permanent, reduced the Secretary of State’s budget, kept municipal rooms-and-meals distributions flat, and made changes to the retirement system, including $55 million to improve Group 2 retirement benefits and a new retirement structure for future state hires. The judicial branch was also asked to find savings and received two additional judges because of expected caseload increases from other eliminations.
TX
Transcript Highlights:
  • I showed you how when CalPERS instituted a defined contribution approach, which was the terminology that
  • They create a defined contribution.
  • They create a defined contribution.
  • benefit to defined contribution, I think.
  • They would pick that defined contribution.
Keywords: 1185, senate, all
MN

Minnesota 2025-2026 Regular Session

Legislative Commission on Pensions and Retirement - 04/14/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • By that time, they had put me and the other EMS-only person in the para DCP plan, the defined contribution
  • plan, the defined contribution plan. plan, the defined contribution plan.
  • you're in the PERA defined contribution. you're in the PERA defined contribution.
  • that was going to the defined that was going to the defined contribution<01:26:27.840> plan
  • Um, and in contrast, it's a defined contribution plan.
Keywords: 918, senate, all
Summary: The Legislative Commission on Pensions and Retirement met on April 14, 2026, adopted the April 7 minutes, and then took up Senate File 4464, which the chair said would be laid over after hearing testimony. The bill would restore continued health insurance coverage for police officers and firefighters in the PERA Police and Fire Fund who suffer documented physical duty-related injuries, addressing the current 5-year cap and the loss of coverage at normal retirement eligibility. Senator Hal Hoffman and Senator Hoffman’s testimony emphasized that the bill is a narrow fix for injured public safety workers and not a broader restructuring of retirement benefits. Supporters, including Mike Ladue of Law Enforcement Labor Services, several injured officers, Sheriff Ryan Kruger, and Amber Waldner, described the personal and family impacts of severe line-of-duty injuries and argued that coverage should continue to age 65 so families are not left with uncertainty if injuries worsen or force medical retirement. They said the bill would honor the promise made to public safety workers and provide stability for long-term care needs. One witness, Officer Albert, said the 2025 changes significantly reduced the protection he believed he and his family would have if his injury forced retirement. Anne Finn of the League of Minnesota Cities opposed the bill as drafted, warning that restoring coverage to age 65 for all physical injuries would be fiscally unsustainable without additional state funding. She said the 2025 pension changes were part of a negotiated package, noted that duty disability retirements are common, and argued the employer cost could reach about $500,000 per employee and create significant property tax pressure, especially for smaller communities. She urged the committee to work on a broader solution and said revisiting only one part of the 2025 law would create imbalance.
NH

New Hampshire 2025 Regular Session

House Ways and Means (04/29/2025)

Transcript Highlights:
  • <00:47:31.680> The municipality how they define it. The municipality how they define it.
  • plan review.
  • Um, the local planning board or, you know, some person from the planning department will go and walk
  • Site plan site plan review, right?
  • tax-free you know not really defined tax-free you know not really defined religious<00:52:24.000
Keywords: 928, house, all
Summary: The Ways and Means Committee held a public hearing on Senate Bill 291, which would update religious land-use and property tax exemption rules for church-owned parsonages, parish houses, and similar properties. Senator Tim Lang, speaking for the sponsor, said the bill was intended to address situations where former parsonages are no longer occupied by clergy and are instead used for church-related purposes such as housing staff, religious education, or congregate living tied to ministry, including addiction recovery. He emphasized that the bill was not meant to create commercial rental housing and that it also preserves reasonable zoning and environmental regulations. Committee members pressed the sponsor on how the bill would be applied, especially the meaning of “religious purposes,” the six-unit limit, the “same lot” language, and whether churches could use the exemption to rent units for revenue. The sponsor said the six-unit cap was added to prevent large-scale commercial rental use, that congregate housing would be limited and defined, and that the bill was meant to cover uses like substance abuse recovery, homes for unwed mothers, and religious education, but not apartments converted for ordinary rental. He also said churches would still file annual exemption paperwork and towns could challenge claims they believed were commercial. Questions also raised concerns about whether the bill treated religious and nonreligious housing trusts differently; the sponsor responded that the bill was aimed at church-owned property used in pursuit of a religious mission. Several witnesses testified in support. Representative Mark Pearson, an active clergyman, said the bill would not remove additional property from the tax rolls because clergy housing allowances typically lead clergy to buy taxable homes elsewhere, while the church-owned parsonage remains exempt. Nick Taylor of Housing Action New Hampshire supported the bill as a modest expansion that could help create more attainable housing by allowing better use of existing religious land and structures, though he noted his organization would support even broader use. The hearing ended without a vote or final action, and the chair closed questions after the testimony.
NH

New Hampshire 2025 Regular Session

House Finance Division I (03/19/2025)

Transcript Highlights:
  • <00:05:34.880> So contributions on these. Oh, I see. So contributions on these.
  • contributions whatever the source. Okay. contributions whatever the source. Okay.
  • ><03:44:16.960> plan?
  • 65 or do they stay on the group plan? 65 or do they stay on the group plan?
  • Because they're still getting the full state regular plan. Regular plan. Yeah.
Keywords: 928, house, all
Summary: The committee reviewed a handout comparing House Bill 2 to current retirement law and walked through the bill section by section with staff from the retirement system. The discussion focused on vesting, earnable compensation, average final compensation, compensation-over-base limits, special duty pay, normal retirement age, re-retirement, and maximum benefit rules for Group 2/Tier B members. Staff explained that some provisions would restore pre-2011 rules, including counting certain end-of-career payments such as unused sick and vacation time in earnable compensation and reducing the AFC averaging period from five years back to three. They also described how the bill would eliminate the current cap on compensation over base, which mainly affects overtime, and noted that the actuarial cost of the AFC-related changes is interrelated rather than easily broken out by feature. A separate discussion covered the special duty pay limitation, which currently applies to Tier A and would be removed under the governor’s bill for both Tier A and Tier B members after their vested buy date. Staff said the actuary estimated that removing the special duty limitation would increase costs by about $13.9 million. Members also asked about the practical difference between overtime and special duty, with staff explaining that special duty generally involves work for a private third party, often police detail work, while overtime depends more on staffing and scheduling. The committee also reviewed the normal retirement age changes for Tier B and the possibility that some members would need to work longer to reach the new vested buy date. Members raised concerns about an ambiguity in the bill that could allow already-retired Tier B members to return to work, then re-retire and claim the higher benefits, or allow vested deferred members to stop working and wait for the new vested buy date. Staff said the governor’s office did not intend to allow that result and requested clarifying language, noting that the bill as drafted does not expressly prohibit it. The committee also discussed part-time and seasonal work after retirement, with staff explaining that such work generally does not restore membership unless the person takes a full-time position requiring enrollment. Finally, the committee reviewed the maximum benefit provisions and noted that HB 2 in the current year does not change the maximum benefit date or include the 1.5% annual escalator that had been part of the 2023 proposal, making the current bill more costly than the earlier version.