Video & Transcript Research : 'defined contribution plan'
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CA
California 2025-2026 Regular Session
Assembly Floor Session May 18th, 2026
California House Floor Meeting
Transcript Highlights:
- But our contributions are not limited to medicine or science or business.
- Their contributions have left a lasting impact on our state and our nation.
- have played vital roles contributing to the state's culture, economic, and civic success.
- Today we celebrate Jewish Americans' resiliency and their many contributions.
- Alex has contributed. Donald Trump, Joe Biden, Kamala Harris, and Gavin Newsom.
Summary:
The Assembly convened after a quorum call and opened with a prayer and pledge, then held a ceremonial observance for Jewish American Heritage Month. Assembly Concurrent Resolution 195 by Assembly Member Gabriel was presented with extensive remarks from members of multiple caucuses highlighting Jewish Californians’ contributions, the importance of solidarity amid rising antisemitism, and themes of tikkun olam and tzedakah. The resolution was adopted by voice vote after 67 co-authors were added, and the chamber then recognized 14 honorees for their service in public life, philanthropy, media, faith leadership, education, and civic engagement.
The floor also featured guest introductions and a procedural vote on Assembly Constitutional Amendment 9 by Assembly Member Borrero, which would add affordability as a required consideration in CPUC rate-making, remove telecommunications from the commission’s portfolio, create an office of broadband, and expand legislative appointments. The amendment was adopted. The Assembly then moved through a long third-reading file, passing measures including AB 1697 delaying implementation of a 2025 employment law, AB 2322 on stormwater permit definitions, AB 1653 on hearing-illness education, AB 2274 closing a loophole involving secrecy in trafficking cases, AB 2512 on Anaheim Angels naming language tied to a land exemption, AB 1956 prioritizing young men and boys in suicide prevention, and AB 2273 addressing prosecutorial handling of a local sexual abuse case.
Additional bills passed included AB 1809 extending job order contracting for school and community college districts, AB 1970 banning step therapy for serious mental illness and substance use disorder medications, AB 1973 expanding practice authority for advanced practice clinicians, AB 2055 updating vessel law, and AB 2059 narrowing CEQA vehicle-mile-traveled mitigation for certain rural highway projects. The Assembly also adopted ACR 186 designating May 2026 as California Physical Fitness and Mental Well-Being Month and H.R. 11 recognizing the International Day Against Homophobia, Biphobia, Interphobia, and Transphobia after a lengthy debate that included support from several caucuses and some disagreement over the resolution’s framing of current threats to LGBTQ+ communities.
TX
Transcript Highlights:
- So define indeterminate for me. And I'm not fussing at you.
- As far as how we define grid equipment, we are attempting to define what is the critical grid equipment
- As far as how we define grid equipment, we are attempting to define what is the critical grid equipment
- And there's a large facility plan that would add up to 20 gigawatts more.
- CAOC is one way, contribution and aid of construction is another.
HI
Transcript Highlights:
- plan is to lift it. plan is to lift it.
- a plan, and I don't see that plan today. a plan, and I don't see that plan today.
- I don't see no plan, Sharon, no plan whatsoever, on how you guys are going to do this.
- <01:10:00.880>
I What's the plan? You guys the experts. I What's the plan? - plan of action to address this. plan of action to address this.
Bills:
HB389, HB1166, HB1510, HB1541, HB1605, HB1661, HB1663, HB1678, HB1769, HB1785, HB1801, HB1802, HB1815, HB1824, HB1838, HB1840, HB1853, HB1860, HB1891, HB1952, HB1960, HB1969, HB1970, HB1972, HB1976, HB2050, HB2094, HB2104, HB2158, HB2165, HB2171, HB2208, HB2246, HB2271, HB2300, HB2310, HB2315, HB2319, HB2338, HB2339, HB2343, HB2443, HB2498, HB2551, HB2599, HB2606, SB17, SB83, SB99, SB148, SB411, SB709, SB847, SB874, SB888, SB1032, SB1166, SB2001, SB2014, SB2031, SB2041, SB2050, SB2057, SB2061, SB2074, SB2075, SB2089, SB2095, SB2101, SB2102, SB2108, SB2109, SB2110, SB2125, SB2135, SB2138, SB2140, SB2146, SB2151, SB2152, SB2175, SB2203, SB2239, SB2246, SB2247, SB2253, SB2261, SB2268, SB2271, SB2272, SB2320, SB2340, SB2347, SB2353, SB2363, SB2367, SB2372, SB2376, SB2386
Keywords:
HB389, uncrewed aircraft, drone, drones, UAS, unmanned aerial vehicle, misuse of uncrewed aircraft, criminal offense, felony enhancement, drone crime, public safety, police, deputy sheriff, fire department, intoxicated operation, registration number tampering, property damage, bodily injury, Honolulu Prosecuting Attorney Package, Hawaii Revised Statutes
HI
Transcript Highlights:
- We do have a staffing plan.
- We do have a staffing plan.
- And does the DCR plan team plan to agree to the sound recommendation?
- And does the DCR plan team plan to agree to the sound recommendation?
- And does the DCR plan team plan to agree to the sound recommendation?
Bills:
HB389, HB1166, HB1510, HB1541, HB1605, HB1661, HB1663, HB1678, HB1769, HB1785, HB1801, HB1802, HB1815, HB1824, HB1838, HB1840, HB1853, HB1860, HB1891, HB1952, HB1960, HB1969, HB1970, HB1972, HB1976, HB2050, HB2094, HB2104, HB2158, HB2165, HB2171, HB2208, HB2246, HB2271, HB2300, HB2310, HB2315, HB2319, HB2338, HB2339, HB2343, HB2443, HB2498, HB2551, HB2599, HB2606, SB17, SB83, SB99, SB148, SB411, SB709, SB847, SB874, SB888, SB1032, SB1166, SB2001, SB2014, SB2031, SB2041, SB2050, SB2057, SB2061, SB2074, SB2075, SB2089, SB2095, SB2101, SB2102, SB2108, SB2109, SB2110, SB2125, SB2135, SB2138, SB2140, SB2146, SB2151, SB2152, SB2175, SB2203, SB2239, SB2246, SB2247, SB2253, SB2261, SB2268, SB2271, SB2272, SB2320, SB2340, SB2347, SB2353, SB2363, SB2367, SB2372, SB2376, SB2386
Keywords:
HB389, uncrewed aircraft, drone, drones, UAS, unmanned aerial vehicle, misuse of uncrewed aircraft, criminal offense, felony enhancement, drone crime, public safety, police, deputy sheriff, fire department, intoxicated operation, registration number tampering, property damage, bodily injury, Honolulu Prosecuting Attorney Package, Hawaii Revised Statutes
MN
Minnesota 2025-2026 Regular Session
Committee on State and Local Government - 04/08/25
State and Local Government
Transcript Highlights:
- Their contribution marked the defining moment among people, bringing an end to centuries of displacement
- Their contribution<00:19:10.880>
marked <00:19:11.039>the <00:19:11.200>defining - <00:19:11.600>
moment contribution marked the defining moment contribution marked the defining - And it's very defined for reasons.
- contributions.
MN
Minnesota 2025 1st Special Session
House Transportation Finance and Policy Committee 3/12/25
Transportation Finance and Policy
Transcript Highlights:
- projects could have ample time to plan projects could have ample time to plan and<00:21:49.880><
- And then, secondly, does it take into account local planning as to what's going on?
- <00:46:19.359>
as take into account local um planning as take into account local um planning - It's to look forward and, as we plan projects, to plan them in a way that actually is consistent with
- projects to plan them in a way that plan projects to plan them in a way that actually<01:42:32.560><
AZ
Arizona 2026 Regular Session
06/02/2026 - House Democratic Caucus Calendar #21
Transcript Highlights:
- The Senate amended the bill to include compliance with ADEQ's nonpoint source management plan as an alternative
- to compliance with the county's water quality management plan for financial assistance eligibility.
- And then it defines both television program and television series as a recurring or episodic production
- To committees that didn't have contributions and expenditures.
- and made no expenditures, and if the committee subsequently received contributions and expenditures,
Summary:
The caucus reviewed several bills and Senate or conference committee amendments, with members generally noting whether the sponsor intended to concur. HB 2749 would let courts enter a Class 1 misdemeanor conviction for certain lower-level felony convictions, with the Senate amendment requiring at least five years since completion of sentence before eligibility. HB 2082 would create a childhood cancer and rare childhood disease research commission and adjust funding rules, including a five-million-dollar threshold tied to appropriations or federal grants. HB 2096 would allow counties to seek WIFA assistance for cesspool remediation, with the Senate adding an alternative compliance path using ADEQ’s nonpoint source management plan. HB 4001 would regulate alternative nicotine products through the Department of Liquor Licensing and Control; members discussed whether some tobacco-related products remain outside the bill, tribal enforcement limits, and the absence of a tax provision. The presenter said the AG and governor support the bill.
The caucus then shifted to conference committee bills. HB 2003 would lower the learner’s permit age from 15.5 to 15 and increase supervised driving time, but several members raised safety concerns and questioned whether the change was needed; the conference amendment would let current instruction permit holders qualify for a license after six months, while still requiring age 16 for licensure. HB 2133 would impose content-verification requirements for commercial websites publishing sexual material, with conference changes exempting pre-effective-date motion pictures and television programming. Members noted the Motion Picture Association still had concerns, though the changes addressed some retroactivity issues.
HB 2874 would change campaign finance penalty rules, including a five-day publication requirement for committees owing late-filing penalties, a $5,000 cap on penalties per late report, and retroactive relief for certain inactive committees that filed no-contribution/no-expenditure reports and later terminated; one member said they still had not received the outstanding fee totals requested on the floor. HB 2010 would regulate digital goods sellers and refunds for revoked access to licensed digital content; the conference version kept a five-year refund structure but changed the refund amount to 20% per year, clarified refund procedures, and removed the refund requirement if alternative access is provided. The caucus took no votes in the transcript and ended after the bill presentations and questions.
MN
Minnesota 2025-2026 Regular Session
Committee on Commerce and Consumer Protection - 04/28/26
Commerce and Consumer Protection
NM
New Mexico 2026 Regular Session
House - Energy, Environment and Natural Resources Feb 10th, 2026 at 08:32 am
House Energy, Environment & Natural Resources
Transcript Highlights:
- For another 20 years; that was in the plan.
- To contribute just a little bit of capacity during a peak or during a grid event.
- toward... ...for contributing toward grid infrastructure, power lines, and the such.
- Typically, those devices would be required to show up as called on and contribute capacity, contribute
- The council would be charged, as defined, an advisory capacity.
MS
Mississippi 2026 Regular Session
MS Senate Floor - 9 February, 2026; 2:00 PM
Mississippi Senate Floor Meeting
Transcript Highlights:
- The ADC, the actuarial defined contribution, what the actuaries want is 25.92.
- They're allowing for 5% or 7% on your defined contribution.
- That's what happens with this defined contribution plan.
- And the money behind all this double talk about defined contribution plans comes from the people that
- <01:49:11.600>
contribution But when you have a defined contribution But when you have a defined
Summary:
The Senate convened with a quorum present, received an invocation from Dr. Pearl Huggin, and approved dispensing with the reading of the journal, committee reports, and bill titles. Several guests were introduced, including Dr. Huggin’s family, the doctor of the day, first-year medical students from the University of Mississippi Medical Center, and representatives from Mississippi hospitals and law enforcement. The chamber then moved to the calendar and took up multiple bills.
Senate Bill 2911, concerning alternative return-to-work provisions for state retirees, was explained as shortening the required separation period from 90 days to 30 days and allowing retirees to return in certain positions at up to 80% of the salary for the job they are performing, with the employer paying both sides of retirement contributions. Supporters said it would help fill vacancies in education, public safety, corrections, and local government and could save money compared with contract labor; questions focused on work expectations, insurance, and how the bill would apply to teachers, bus drivers, and other retirees. The committee substitute was adopted, and the bill passed on the afternoon roll call.
Senate Bill 2272, which would exempt certain agriculture and forestry items from the 1.5% sales tax, was explained as reducing the tax to 0% for qualifying commercial farmers and loggers and expanding covered items to include equipment and fencing supplies. A question clarified that the exemption applies to commercial operations, not individuals raising animals for personal use. The bill passed on the afternoon roll call. Senate Bill 2909, which lowers the years needed for unreduced retirement under tier five from 35 to 30, was also taken up; after adoption of the committee substitute, the bill was laid on the table subject to call of the chair because of a pending amendment. The Senate also tabled a motion to reconsider Senate Bill 2588 (the Shield Act codification) and heard Senate Bill 2260, which creates a government efficiency task force to study ways to streamline agency licensing and service delivery; that bill was explained as a preliminary study commission intended to recommend consolidation and a more one-stop approach to state services.
TX
Transcript Highlights:
- significant amount to the... plan to finance the benefits of this fund.
- This is an accelerated contribution.
- Now, can you please explain if there's any additional contribution...?
- By the way, the city's plan will increase the city's contribution by over 3.5 billion dollars over 30
- In their most recent November election, that plan was thwarted.
Bills:
SJR37, SJR57, SB7, SB8, SB16, SB108, SB125, SB207, SB318, SB371, SB379, SB396, SB406, SB503, SB533, SB565, SB578, SB599, SB686, SB689, SB707, SB763, SB854, SB857, SB875, SB878, SB920, SB924, SB961, SB965, SB985, SB988, SB1021, SB1024, SB1026, SB1038, SB1059, SB1185, SB1202, SB1207, SB1252, SB1330, SB1396, SB1484, SB1527, SB1535, SB1596, SB1619, SB1697, SB1737, SB1741, SB1841, SJR36, SJR12, SJR57, SJR37, SCR22, SCR12, SB565, SB765, SB62, SB666, SB707, SB888, SB687, SB847, SB1248, SB504, SB857, SB305, SB296, SB284, SB1497, SB1498, SB241, SB304, SB621, SB1023, SB1024, SB686, SB371, SB204, SB609, SB670, SB850, SB854, SB413, SB1346, SB1033, SB1220, SB1073, SB810, SB1539, SB447, SB875, SB406, SB985, SB965, SB1119, SB1505, SB1215, SB1302, SB856, SB583, SB673, SB681, SB1172, SB1252, SB608, SB955, SB957, SB988, SB1021, SB1120, SB251, SB541, SB379, SB1737, SB266, SB1415, SB1527, SB125, SB599, SB1330, SB53, SB1352, SB785, SB472, SB1450, SB1502, SB1566, SB414, SB1062, SB961, SB1038, SB578, SB711, SB746, SB942, SB1404, SB1448, SB1738, SB108, SB8, SB318, SB507, SB533, SB689, SB1026, SB1349, SB1355, SB1433, SB1434, SB1596, SB1403, SB763, SB667, SB1059, SB617, SB1567, SB503, SB16, SB310, SB311, SB396, SB505, SB1209, SB1210, SB1470, SB264, SB924, SB1029, SB1185, SB1202, SB1358, SB1364, SB1569, SB1697, SB1376, SB1228, SB519, SB878, SB1350, SB462, SB1535, SB827, SB1585, SB207, SB1207, SB1619, SB1396, SB920, SB1484, SB1273, SB1741, SB7, SB927, SB1227, SB1229, SB1353, SB1366, SB1464, SB1709, SB1729, SB1733, SB1744, SB1772, SB1816, SB1841, SB2188, SB1147, SB879, SB1008, SJR81, SJR50, SCR39, SB1536, SB2016, SB1453, SB1173, SB1163, SB996, SB27, SB568, SB1370, SB1321, SB1101, SB906, SB860, SB1563, SB993, SB693, SB1610, SB1537, SB836, SB1332, SB1307, SB963, SB493, SB922, SB984, SB1084, SB619, SB1098, SB1122, SB455, SB522, SB1057, SB1239, SB1254, SB1255, SB1259, SB1341, SB1664, SB1877, SB464, SB1277, SB32, SB732, SB660, SB731, SB921, SB268, SB1822, SB1188, SB1939, SB1589, SB397, SB1388, SB2230, SB1058, SB1036, SB1267, SB2112, SB1930, SB532, SB1035, SB2155, SB508, SB29, SB292, SB291, SB901, SB1333, SB1436, SB1494, SB964, SB779, SB1378, SB2312, SB1719
Keywords:
voter ID, citizenship, election integrity, constitutional amendment, voting rights, water infrastructure, financial assistance, Texas Water Development Board, water supply, environmental sustainability, immigration enforcement, ICE agreements, sheriff grants, law enforcement, county jail, federal immigration law, voter registration, proof of citizenship, Election Code, criminal offenses
HI
Hawaii 2025 Regular Session
CPC/JHA Joint Public Hearing - Thu Feb 13, 2025 @ 10:00 AM HST
Transcript Highlights:
- It's defined as the greater of...
- It's defined as the greater of...
- So does Ki plan on participating in the wildfire recovery program?
- <01:07:02.960>
so needs to be supplemental contribution so needs to be supplemental contribution - together and and allow for contributions together and and allow for contributions from<01:07:10.520
Summary:
The joint committees heard testimony on HB 982 HD1, a wildfire-related measure aimed at creating a wildfire recovery fund and a financing structure to address future catastrophic wildfire liability. The Department of Commerce and Consumer Affairs, the Division of Consumer Advocacy, and the Public Utilities Commission submitted comments and were available for questions. Supporters included IBW Local 1260, Kauai Island Utility Cooperative, Clearway Energy Group, Hawaiian Electric, Par Hawaii, and others, while Charter Communications and the Hawaii Association for Justice opposed or raised concerns. Life of the Land supported the bill but urged changes to the definition of a catastrophic wildfire and noted concerns about prudency review language. IBW Local 1260 asked to restore language from the original draft, and Charter warned the bill could impair existing contract and indemnity rights unless amended.
A major focus of the hearing was Hawaiian Electric’s position on the HD1 version. Hawaiian Electric strongly supported the original bill but objected to the HD1 requirement for an additional $500 million shareholder contribution, arguing it was not feasible and could delay or prevent the fund from operating. The company said the bill would help protect customers and improve credit ratings by creating a dedicated revenue stream and a bankruptcy-remote financing structure, which it said would lower borrowing costs over time. Members questioned how the $1 billion securitization amount was chosen, whether credit rating agencies had indicated it was sufficient, and how the bill would work in bankruptcy; Hawaiian Electric said the amount was a balance among interests, not based on a specific agency directive, and that it would follow up on bankruptcy questions.
Opponents and skeptics raised concerns about liability caps, the new claims process, and unclear language on damages above the fund’s limits. The Hawaii Association for Justice argued the bill limits victims’ remedies and gives too much authority to the new entity without clear guardrails. Committee members also pressed Hawaiian Electric on comparisons to California, the feasibility of the shareholder contribution, and whether alternative capital-raising or divestiture options had been considered. No vote or final action was taken in the portion of the hearing provided; testimony and questioning continued with follow-up information requested from Hawaiian Electric and others.
NH
Transcript Highlights:
- <00:12:30.240>
to good paying jobs and to contributing to good paying jobs and to contributing - to that and I'll be glad to contribute to that and I'll be glad to answer<00:23:11.000>
any <00 - I don't know if I'm aware of a law in New Hampshire that defines a commercial landlord.
- defines what a commercial landlord is defines what a commercial landlord is and<00:30:21.880>
is - review listed in RSA 674:76, or site plan review listed in RSA 674:76.
CA
California 2025-2026 Regular Session
Assembly Human Services Committee Jun 30th, 2026
Human Services
Transcript Highlights:
- Some of our child care centers already define it at 0 to 18 months.
- So I think all those things kind of can, you know, contribute.
- Almost all counties have now submitted those plans.
- Almost all counties have now submitted those plans.
- Some youth are in supportive independent living plans. Okay.
NH
New Hampshire 2025 Regular Session
House Education Funding (09/30/2025)
Transcript Highlights:
- the least funding in the contributing the least funding in the entire<00:32:06.399>
country. - So, pretending that we're adequately planning on the funding doesn't seem valid to me.
- <01:07:06.400>
foundational <01:07:07.039>contribution contribute foundational contribution - contribute foundational contribution that<01:07:08.160>
came <01:07:08.400>out <01:07:08.559 - So I believe that the 7,356 is not well defined in terms of how do you add up those costs?
Summary:
The Education Funding Committee Subcommittee on Adequacy and Funding Sources opened its second meeting by reviewing four retained bills assigned to it: HB 651, HB 772, HB 491, and HB 734. The chair said the goal was to compare the bills across the board, consider whether any one of them should be the committee’s recommended vehicle, and then vote on a recommendation to the full committee. He noted the bills would move out before November 21 and be taken up on the House floor in January, while related LSRs were also being developed for the coming session.
Representative Ames argued that HB 651 should be the main vehicle because it would substantially raise the adequacy base and adjust differential aid categories to better reflect real school costs, including poverty, special education, and English learner needs. He described the bill as building on court guidance and said the current funding formula is far below actual district needs. He also supported HB 491 as a study vehicle to examine revenue options, saying the legislature needs informed choices about how to pay for the changes. Representative Damon strongly backed HB 651 and HB 491, citing constitutional obligations, the Conval and Rand rulings, and large projected funding increases for districts such as Claremont, Windham, and communities in the chair’s district if HB 651 had passed earlier.
Representative Fellows said he has an LSR similar to HB 491 that would study existing and new revenue options using criteria such as revenue potential, administrative cost, affected groups, implementation timeline, and implementation cost, with input from revenue administration and outside agencies. Representative Papich Muller emphasized constitutional separation-of-powers concerns, reading Article 83 and saying he was not comfortable with the broad claim that “cherish” clearly mandates a specific spending level, though he said he intends to follow Supreme Court guidance. Representative Ricky read testimony from a local school board member arguing that the state already imposes many mandates on schools while providing the least funding in the country, and that HB 651 would help restore meaningful local control. No final vote or action was taken in the portion provided, though the chair had indicated the subcommittee would vote before adjournment.
AL
Alabama 2025 Regular Session
Alabama House Fiscal Responsibility Committee Feb 19th, 2025
Fiscal Responsibility
Transcript Highlights:
- Classroom teachers will be defined. I met with Dr. ... and they needed...
- define teacher.
- When we define educators as one thing versus another, and I support education.
- Well, the member contribution is part of how the system is set up.
- It always says the member contribution; it doesn't say RSA.
Keywords:
athlete agents, commission, state regulation, Alabama, higher education, athletics, membership diversity, catastrophe savings account, catastrophe fund, storm savings, disaster savings, hurricane, windstorm, floodwaters, hail, tornado, property insurance, homeowners insurance, insurance deductible, FORTIFIED
FL
Florida 2025 Regular Session
February 13, 2025 - 09:00 AM
Transcript Highlights:
- We are an R1 research defined by Carnegie Classifications.
- , and we review that plan, and court is with statute. pending plan.
- And we review that plan and court is with statute.
- Now the plan is they can't park next to their building.
- Public funds are defined just a little bit differently.
Summary:
The Higher Education Budget Subcommittee met to hear an overview of State University System finances from the Board of Governors and detailed budget presentations from Florida State University, the University of Central Florida, and the University of North Florida. The witnesses explained how university budgets are organized into fund categories such as education and general, contracts and grants, auxiliaries, local/designated funds, capital projects, and component units such as direct support organizations. They also described carry forward funds, the statutory reserve and spending-plan requirements, the PICO/HECO capital outlay process, and how universities use investment accounts, audits, and board oversight to manage restricted and unspent funds. The universities emphasized that most operating dollars are restricted to specific uses and that state support helps keep tuition low.
Members asked about differences in funding levels among institutions, especially why FSU receives more funding than UCF despite lower enrollment. Officials said preeminence funding, performance funding, and special legislative appropriations explain much of the difference, and the Board of Governors noted that Florida now has four preeminent universities, with UCF nearing that status. Questions also focused on what happens to unspent carry forward money, how it is invested, and whether the Board of Governors or Legislature can require funds to be returned; officials said the money is invested conservatively, subject to board and audit oversight, and can roll forward under a detailed spending plan, though the Legislature can change funding levels. The committee also discussed capital projects, with members asking about delays, inflation, and whether more projects should be phased or funded faster; witnesses said PICO funds remain with the state until needed and are reimbursed as construction proceeds.
A substantial portion of the discussion covered athletics, research, student fees, and endowments. The universities said athletics is generally expected to be self-supporting, though limited use of auxiliary or carry forward funds may be allowed for projects benefiting the broader student body. They also described the financial pressures from name, image, and likeness changes and new NCAA-related costs, and said institutions are planning for those changes now. On research, the universities explained sponsored research funding, indirect cost recovery, compliance obligations, and tech transfer, but did not provide specific commercialization revenue figures and said they would follow up. Members also asked about student fee increases, student input, counseling and wellness funding, and how housing costs affect affordability; the universities said student committees and boards review fees, and aid packaging is intended to keep student debt low. Endowments were described as being held in separate foundations/DSOs with independent investment committees and used mainly for scholarships, faculty support, and research.
WA
Transcript Highlights:
- of another plan.
- This compares favorably to fiscal year 2020, when some of the highest contribution rates in these plans
- This final slide presents the estimated increase in Plan 2 member and employer contribution rates from
- They vary by plan.
- to Plan 1... ...to where employers like the cities and school districts are about contributing to Plan
Summary:
The Pension Funding Council met on October 8 with introductions from council members and staff, then received a detailed presentation from the Office of the State Actuary on long-term economic assumptions and the state pension systems’ financial condition. OSA reported that the combined pension systems are currently 100% funded on a smoothed basis, with open plans above 95% funded, and that legacy Plan 1 systems remain on a path toward full funding under current policy. The actuaries recommended updating assumptions to 3% inflation, 3.5% general salary growth, and a 7.25% investment return, while keeping Plan 1 membership growth at 1%. They also explained asset smoothing, the role of recent strong investment returns, and the expected budget impacts of the recommended changes. Representatives from the Economic and Revenue Forecast Council and the State Investment Board offered supporting perspectives, generally describing the assumptions as reasonable and consistent with their own outlooks.
The council also heard an overview of the Long-Term Services and Supports Trust Program (WACares) from DSHS and OSA. Program staff described the program’s social insurance structure, premium collection, benefit eligibility, and upcoming implementation milestones. OSA reported that the program’s first actuarial valuation showed a positive actuarial balance under the base scenario and recommended no change to the current 0.58% premium rate during the program’s early learning phase, noting that future changes would depend on experience and the program’s risk-management framework. OSA also said the recommendation would remain the same regardless of the outcome of the pending ballot measure affecting investment options.
During public comment, a representative of the Washington State School Retirees Association urged continued work on Plan 1 funding and related legislation, while the Association of Washington Cities cautioned against increasing pension assumptions in a way that could raise future employer costs and reduce flexibility for current local government services. In action, the council adopted a motion to maintain the current long-term economic assumptions by a 4-2 vote, adopted the recommendation to keep the WACares premium rate at 0.58% by a 6-0 vote, and then elected Katie Chapman as council chair by unanimous vote. The meeting then adjourned.
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (12-12-25) - Part 2
Transcript Highlights:
- Uh, again, uh, there would be an increase in the employer-employee contribution contribution for certain
- Uh, again, uh, there would be an increase in the employer-employee contribution contribution for certain
- contribution contribution uh<00:42:02.400>
for <00:42:02.720>certain <00:42:02.960> - I think I saw employee contributions.
- would make a contribution. would make a contribution.
Summary:
The committee heard testimony from Rep. Ashley Tacket Laferty on a bill to expand minimum hazardous-duty retirement and health benefits for certain public safety workers injured in the line of duty. She used a video and examples from Floyd County to describe officers and an emergency management director who were catastrophically injured but did not qualify for existing hazardous-duty coverage because their employers had enrolled them in non-hazardous retirement plans. The bill would provide a minimum benefit of 25% of pay, plus 10% for dependent children and limited health coverage, for eligible workers who cannot return to hazardous work. Laferty said the proposal would apply retroactively through a five-year window, estimated to affect a limited number of workers statewide, and would be funded by small increases in employer contribution rates. Committee members questioned how many former employees might qualify, how the bill interacts with the pension system, and who would pay the added cost. Discussion also noted that local governments choose whether to place employees in hazardous or non-hazardous coverage, largely based on cost. The sheriff’s association was present online in support, and no vote was taken.
The committee then heard Rep. Daniel Gber present a revised bill allowing teachers and school district employees to use accumulated sick leave to observe religious holidays not already on the school calendar, if they provide a personal statement and sufficient advance notice. He said the measure is intended to address the rigid school calendar and the difficulty teachers face in observing non-school holidays without losing service credit toward retirement. He noted that the earlier version of the bill had allowed make-up work time, but the current draft is shorter and focused on sick leave use. He also referenced a supporting letter from a constituent who could not attend because of weather. The bill was presented for discussion only, with no committee action reported.
MN
Minnesota 2025-2026 Regular Session
Overview of Minnesota State budget request before House higher education committee 3/11/25
Transcript Highlights:
- <00:05:03.720>
the workforce are ready to contribute the workforce are ready to contribute - IRP accounts are defined-contribution retirement accounts that some Minnesota State employees choose
- the employer contribution for individual retirement<01:30:43.920>
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Summary:
Minnesota State Colleges and Universities presented an overview of the system and several budget riders. Board Chair George Soul described the system’s structure, noting 26 colleges and seven universities governed by a 15-member board, and emphasized that Minnesota State serves about 270,000 students annually, including many students of color, adult learners, Pell-eligible students, first-generation students, and veterans. He highlighted the system’s workforce role, saying it offers more than 4,000 programs, extensive employer partnerships, and that 86% of graduates find jobs in their field or a related field. He then turned the presentation over to system staff to discuss specific funding requests.
Associate Vice Chancellor Kim Lynch focused on the Z-degree textbook program, which supports zero-textbook-cost courses and degrees. She said prior legislative support has produced about $3.1 million in savings in academic year 2024 and more than $12.6 million in aggregate savings, with 10 colleges now offering Z degrees and 12 more on track or exploring implementation. She described the program’s use of open educational resources, instructional design support, and library resources to fill gaps where free materials are not available, and said students save roughly $7 to $10 for every $1 invested. Members praised the program and asked about its expansion.
Associate Vice Chancellor Paul Shepard discussed student support funding, including a centralized basic needs resource hub, the Mantra Health mental health platform, and the emergency grant program. He said student surveys showed significant food, housing, and homelessness insecurity, and that the basic needs hub has served over 2,400 students with a 97% positive response rate. He said Mantra provides telecounseling, peer support, self-paced courses, and crisis support, and clarified in response to questions that it is not AI-driven and does not sell student data; general usage data is collected, and follow-up with campus counselors occurs only at the student’s request. He also said the emergency grant program has distributed over $3 million to more than 4,800 students, with grants averaging just under $700, and that campuses use application review and recordkeeping to manage repeat requests. Members asked about counselor staffing, data privacy, and grant safeguards.
The final item addressed sexual assault reporting and prevention funding. System staff said the appropriation supports technology infrastructure for statutory reporting, case management for investigations, campus prevention training, and professional development for Title IX coordinators and related staff. They noted that the statutory student training requirement is funded by individual colleges and universities, not by this appropriation. No formal votes were taken in the portion of the meeting provided.