Transcript Highlights:

• ><c> contributing</c> contributing phasing into contributing contributing phasing into contributing an
• Teacher contributions answer.
• </c> all retirement benefits. It's critical. all retirement benefits. It's critical.
• </c> retirement trust as unpaid ADC. retirement trust as unpaid ADC.
• </c> on contributions and on funding levels. on contributions and on funding levels.

Keywords: 958, all

Summary: The House Budget Review Subcommittee on Personnel, Public Retirement, and Finance heard testimony from Bo Barnes, deputy executive secretary and general counsel for the Teachers’ Retirement System (TRS), on the TRS budget request for the upcoming biennium and how it compares with House Bill 500 as introduced. Barnes emphasized that the bill fully funds the system’s additional funding request to pay down TRS’s legacy unfunded pension liability, which he described as critical to the system’s long-term funding plan. He also explained that the pension and health insurance requests are broken into several line items, including legacy benefit items, state shared-responsibility payments for retiree health insurance, and reconciliation items that adjust for prior over- or underpayments. Barnes said the state portion of shared responsibility for retiree health insurance was funded below the request in House Bill 500, but he described the health insurance trust as a success story under the post-2010 shared-responsibility model. He said the trust is projected to be fully funded in about two years if medical inflation and federal subsidies remain stable, and he noted that any shortfall in the current budget would be reconciled later and could reduce investment income. In response to questions, he explained that the legacy benefit items are treated as part of the total actuarially determined employer contribution and that unpaid legacy benefits would have the same impact on the retirement trust as unpaid ADC amounts. Barnes also addressed questions about whether the $47.2 million SEEK-related teacher contribution reconciliation could be split between fiscal years, saying it could be done but would reduce investment income and potentially increase future contribution needs. He said the pension fund is currently about 61% funded and that TRS has received full funding for the pension for 10 straight years, with the state having provided full additional funding and more in recent budgets. He concluded by asking the committee to consider TRS’s original budget request, warning that underfunding now would be reflected in future actuarial calculations and could cost the Commonwealth more over time.

Transcript Highlights:

• And contributions overall are 4.65%.
• So if somebody retired now in November, they don't get credit for retiring this year.
• Being eligible to retire and being able to live in retirement are two different things.
• It's expensive to retire.
• This would be tax exempt for their military retirement pay. Their military retirement pay.

Transcript Highlights:

• Retirement Fund Paul Teachers Retirement Fund Association.
• in retirement.
• We accepted lower COLAs, higher contributions, delayed benefits, and tougher early retirement penalties
• </c> uh of retirement. uh of retirement.
• </c> retirement association. retirement association.

Keywords: 1187, senate, all

Transcript Highlights:

• boards of health were notified that they had not been making the correct retirement contributions.
• to the Mass State Retirement System and provide a mechanism for future contributions to the retirement
• We were informed by the Retirement Board that changes to the contribution mechanism and adjustments for
• The contribution would be used... ...contribute to the employer's share of the fund.
• The contribution would be calculated based on current staff salaries at a rate set by the retirement

Keywords: 995, all

Summary: The Joint Committee on Public Service heard testimony on a wide range of retirement, municipal workforce, and public employee labor bills. Early testimony focused on H. 2749, a Plymouth home rule petition to classify Plymouth harbormaster employees as Group 4 for retirement purposes. Supporters, including local officials and retirement board representatives, argued the employees perform law-enforcement and rescue duties comparable to police and fire personnel, that the change would be fair, and that it would have little or no fiscal impact on the town. A separate harbormaster-related bill, H. 2743, was also introduced later in the hearing. The committee also heard testimony on provisions of the Municipal Empowerment Act (H. 56), including a temporary critical-shortage exemption allowing retired state or municipal employees to return to work in hard-to-fill positions, and a renewed OPEB commission to study retiree health care costs. Administration and municipal officials said the measures were needed to address staffing shortages and rising benefit liabilities, while emphasizing the shortage exemption would be time-limited and require proof of recruitment efforts. Related retirement bills drew support and caution: advocates for higher COLA bases and enhanced COLA benefits urged relief for retirees, but some asked the committee to wait for recommendations from the special COLA commission before acting. A major portion of the hearing concerned labor rights at the Massachusetts Water Resources Authority and the Committee for Public Counsel Services. Union representatives and employees backed bills to extend just-cause protections, promotional rights, and collective bargaining rights to MWRA and CPCS workers, arguing they currently lack protections available to most other public employees. Testimony described unfair discipline, delayed promotions, and high turnover, and committee members indicated prior favorable action on similar MWRA bills and expressed support for addressing CPCS labor rights. The committee also heard from representatives of the Massachusetts Municipal Association and public higher education employees in support of H. 2820, which would require timely funding of ratified state employee contracts, with witnesses describing long delays in receiving negotiated raises and back pay. No votes were taken during the hearing, and the chair repeatedly invited written testimony and closed each panel after questions.

Transcript Highlights:

• </c> payroll contributions are made. payroll contributions are made.
• </c> contribution increase. contribution increase.
• . retirement. retirement.
• I also want to recognize the contributions of the LCPR staff and the retirement systems in supporting
• </c> reasonably be expected to retire. reasonably be expected to retire.

Keywords: 1187, senate, all

Transcript Highlights:

• And if I'm an employee looking at this new system, my employer's contribution to my retirement is 2%.
• And my contribution to my retirement is 9%. I got that right? Generally and theoretically.
• to my retirement employer's contribution to my retirement is<01:04:25.839><c> 2%.
• > my</c><01:04:28.640><c> retirement</c><01:04:28.960><c> is</c> And my contribution to my retirement
• is And my contribution to my retirement is 9%.<01:04:30.160><c> I</c><01:04:30.319><c> got</c><01:04

Keywords: Finance - Room 216, 20 January, 2026; 10:30 AM, 925, all

Transcript Highlights:

• And that ERB is contributing 10.7%.
• , employer contributions, and benefits.
• Our statutory contribution rate is a big decision.
• Education or Retirement Board investment overview.
• Retirement Board.

Transcript Highlights:

• </c> investment engine for non-retirement investment engine for non-retirement funds<00:08:50.200><c>
• retirement provisions.
• Sections 3 and 4 remove the minimum retirement age requirement for members of the defined contribution
• The minimum retirement age right now is 50, and this change would allow those defined contribution plans
• and reducing contributions contributions and reducing contributions in<01:48:43.040><c> my</c><01:48

Keywords: 1187, senate, all

Transcript Highlights:

• Both the union and the retired Firefighters Association support this bill, and most active and retired
• Right now, the state's contribution to the teacher retirement system happens outside the Foundation school
• That additional flexibility allows local governments to better align retirement contributions with the
• For example, El Paso contributes, the employee contributes 18%.
• I retired. I'm a senior judge now.

Transcript Highlights:

• income comes from our public retirement systems, do not have... ...share of their retirement income
• , nor run for the retirement board.
• Employees started to contribute to their retirement systems in 1946.
• I am also a Retirement Plus member of the MTRS, contributing 11% of my salary to the pension system instead
• The higher contribution is designed to result in a significant increase in retirement benefits after

Keywords: 995, all

Summary: The committee heard testimony on a range of public retirement and municipal health insurance bills. Mass Retirees and the American Federation of Teachers supported House 2890/Senate 1848 on transparency in municipal health insurance, arguing that broker and consultant roles should be clearly defined, commissions disclosed, and dual roles prohibited to reduce conflicts of interest and costs. They also supported House 2799/Senate 1848 on protecting municipal retirees from future premium contribution increases, House 2854 on voting rights for surviving spouses in retirement board elections, and Senate 1917 on updating the definition of veteran for retirement purposes. Committee members discussed whether the veteran definition should simply conform to the federal definition going forward. Educators testified in support of House 2769/Senate 1921, which would allow teachers with at least 20 years of service to buy back creditable service for periods when they worked part-time while raising children. Multiple teachers described the financial and retirement penalties they experienced after stepping down to part-time work for child care, calling the current system inequitable and a “mom tax.” Sponsors and supporters said the bill is intended to correct that disparity and help retain teachers, while one committee member noted it appeared neutral on an actuarial basis. The committee also heard strong support for Senate 1908, which would raise the cap on outside income for public pension recipients, from retired State Police troopers who said the current limit is outdated and unfair to those forced into disability retirement after line-of-duty injuries. Another State Police representative supported House 2910 on state police pensions, citing recruitment and retention problems under current pension rules. In contrast, Hampden County Regional Retirement System officials and the Massachusetts Association of Contributory Retirement Systems opposed House 2745, a bill to restructure the Hampden County system’s governance, arguing it would weaken PERAC oversight and create an unworkable local system. They instead supported House 2813, which would extend the time to fill a vacant fifth member seat on retirement boards. At the end of the hearing, the committee voted to adjourn the hearing.

Transcript Highlights:

• </c> recent address to Kentucky retired recent address to Kentucky retired teachers<00:06:02.120><c>
• retirement retirement calculation<00:09:39.600><c> this</c><00:09:39.720><c> will</c><00:09:39.959><
• </c><00:10:02.640><c> was</c> of 300 sick days toward retirement was of 300 sick days toward retirement
• </c> and receive full payout upon retirement and receive full payout upon retirement employees<00:10:
• <00:13:52.160><c> to</c> contribute to contribute to TRS<00:13:54.040><c> this</c><00:13:54.199><c> results

Keywords: 958, all

Summary: The Senate State and Local Government Committee met and first took up Senate Bill 193, described as a simple measure to restore a wallet card for jailers to carry when outside the jail. The chair noted the fiscal impact was essentially zero, there were no questions, and the committee voted to pass the bill 9-0. The committee then heard Senate Bill 9, a proposal focused on the Teachers’ Retirement System (TRS). The sponsor argued TRS remains underfunded despite large state contributions, cited rising unfunded liability and negative cash flow, and said the bill is intended to standardize and limit what sick leave, personal leave, and annual leave can count toward retirement calculations. The bill would generally cap TRS retirement credit at 10 sick days and 2 personal days per year, prevent annual leave from being rolled into sick leave, require more uniform reporting and oversight from participating districts and agencies, and shift costs to districts that offer benefits beyond TRS limits. The sponsor also said the bill would add 30 maternity leave days, allow voluntary supplemental contributions for Tier Four teachers, and include a floor amendment directing the state auditor to audit TRS and report on agency leave policies. During the presentation, the sponsor emphasized fairness, transparency, and accountability, and used a hypothetical high-salary administrator to illustrate how leave payouts can increase retirement benefits and create additional unfunded liability. Senator Mills thanked the sponsor and said members had been working to understand the issue, but no committee action on Senate Bill 9 was completed in the portion provided.

Transcript Highlights:

• However, it would raise the total retirement contribution to over 20% for current members.
• However, it would raise the total retirement contribution to over 20% for current members.
• However, it would raise the total retirement contribution to over 20% for current members.
• However, it would raise the total retirement contribution to over 20% for current members.
• However, it would raise the total retirement contribution to over 20% for current members.

Keywords: 1187, senate, all

Bills: HB1160, HB1289, HB1339, HB1798, HB1065, HB2113, HB2124, HB2125, HB2134, HB2140, HB2185, HB2191, HB2205, HB2219, HB2245, HB2283, HB2343, HB2406, HB2501, HB2574, HB1544, HB1834, HB2156, HB2188, HB2206, HB2478, HJM4012, HB1104, HB1152, HB1254, HB1443, HB1982, HB2006, HB2179, HB2203, HB2297, HB2322, HB2329, HB2379, HB2388, HB2399, HB2462, HB2464, HB2495, HB2544, HB2551, HB2636, HB2192, HB2251, HB2262, HB2266, HB2298, HB2320, HB2323, HB2351, HB2401, HB2405, HB2442, HB2523, HB2593, HB2632, HB2661, HB1496, HB1898, HB2095, HB2157, HB2225, HB2274, HB2311, HB2325, HB2333, HB2476, HB2508, HB2552, HB1343, HB1634, HB1707, HB1906, HB1909, HB2196, HB2244, HB2339, HB2361, HB2384, HB2389, HB2410, HB2468, HB2475, HB2521, HB2548, HB2619, HB2637, HB2720, HB1160, HB1289, HB1339, HB1798, HB1065, HB2125, HB2134, HB2140, HB2185, HB2191, HB2205, HB2245, HB2283, HB2343, HB2406, HB2501, HB1544, HB1834, HB2188, HB2206, HB2478, HJM4012, HB1104, HB1152, HB1254, HB1443, HB1982, HB2006, HB2297, HB2322, HB2329, HB2379, HB2388, HB2399, HB2462, HB2495, HB2544, HB2551, HB2636, HB2192, HB2262, HB2298, HB2351, HB2401, HB2442, HB2593, HB2661, HB1496, HB1898, HB2095, HB2157, HB2225, HB2311, HB2325, HB2552, HB1343, HB1634, HB1707, HB2361, HB2389, HB2410, HB2468, HB2521, HB2619, HB2720, HB1295, HB1591, HB2092, HB2168, HB2176, HB2248, HB2255, HB2281, HB2438, HB2590, HB2610, HB2650, HB2685, HB1526, HB1960, HB2236, HB2364, HB2416, HB1073

Keywords: design review, local government, land use, zoning, project permits, housing density, middle housing, affordable housing, parking minimums, single-family zoning, infill development, growth management, comprehensive plan, permit streamlining, objective development regulations, architectural review, administrative review, transit-oriented development, accessory dwelling units, ADU

Transcript Highlights:

• . >> I think he's retiring though, if he did not already retire. >> Oh, for real?
• providing housing for us in the Kona area, cuz it's really needed. >> Okay, good. >> I think he's retiring
• though, if he did not already retire. >> Oh, for real?

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

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

Transcript Highlights:

• The Joint Committee on Public Employee Retirement is now in session.
• the contribution rate in a one-year period.
• We host retirement seminars.
• The initial contribution would have been $364 million.
• It takes a combination of contributions. It takes a contribution of the benefits formula.

Keywords: 959, house, all

Transcript Highlights:

• The employee contribution is being made; the employer contribution stops.
• early or retiring.
• retirement, and requiring public employees to contribute more to their own retirement benefits.
• retirement, and requiring public employees to contribute more to their own retirement benefits.
• , retirement formula reductions are a contributing factor to vacancies throughout the public sector in

Keywords: 987, senate, all

Transcript Highlights:

• The Joint Committee on Public Employee Retirement is now in session.
• This helps reduce volatility in the contribution rate.
• We host retirement seminars.
• The contribution would have been $364 million.
• It takes a combination of contributions. It takes a contribution of the benefits formula.

Summary: The Joint Committee on Public Employee Retirement held an informational hearing on the Missouri State Employees’ Retirement System (MOSERS) to review its long-term financial condition, funding status, investment performance, experience study results, and possible legislation. MOSERS staff explained that the plan is a statutorily created defined benefit system covering state employees, several colleges and quasi-governmental entities, with an 11-member board and outside actuarial and investment consultants. They reported the June 30, 2025 valuation showed a funded ratio of 55.4%, assets of about $9.6 billion, liabilities of about $17.4 billion, and a FY27 actuarial employer rate of 27.44%, which the board raised to a 32% minimum contribution rate under a policy adopted in 2023. MOSERS attributed the funding decline over time to several factors: reductions in the assumed investment return from 8.5% to 6.95%, mortality assumption updates, a move from open to closed amortization, and especially weak payroll growth and a shrinking active workforce. Staff said the minimum contribution policy is intended to accelerate UAL paydown and could bring the plan to 80% funded by 2037 rather than 2041, assuming all assumptions are met. The committee also discussed the recent experience study, which kept the investment return assumption at 6.95% and made only modest assumption changes, and a proposed 2026 bill package (SB 1557 and SB 1054) that would automatically refund small balances under $1,000 to terminated non-vested members and add auto-escalation to the deferred compensation plan. A substantial portion of the hearing focused on investment strategy and why MOSERS has lagged some peers. The investment consultant said historical underperformance was driven mainly by asset allocation choices that emphasized a more risk-balanced, diversified portfolio with less public equity exposure than peers during a period when equities performed very strongly. He said the board adopted a more equity-oriented allocation in 2024 and is phasing it in over eight quarters, with recent short-term results improving and the portfolio outperforming its policy benchmark. Members also asked about the effect of inactive members, the rationale for the higher employer contribution, and whether the current board should be held responsible for past decisions; MOSERS officials emphasized that the current board is trying to correct course and that pension funding changes take time. The hearing also touched on ongoing litigation against a former private equity manager, Catalyst Capital, with MOSERS saying it has spent about $20 million in legal fees so far and that the case remains on appeal. The committee took no formal vote and adjourned after the informational presentation and questions.

Transcript Highlights:

• I'm Director Leathers of the Department of Retirement Systems.
• These are to support the funding of the retirement systems and the contribution rate calculations that
• and got no return on their contribution.
• If you make more, you contribute more. If you make less, you contribute less.
• Once you retire, you owe that on a fixed income throughout retirement.

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.

Transcript Highlights:

• early retirement.
• c><00:20:06.799><c> retirement</c> and survivor retirement and survivor retirement income.<00:20:08.880
• Their employees contribute 6.5% of pay. The employers contribute 7.5% of pay.
• they no longer contribute to PAR. they no longer contribute<01:10:06.400><c> to</c> contribute to contribute
• contributions.

Keywords: 1187, senate, all