Video & Transcript Research : 'actuary'
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MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/18/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- My name is Emily Canuteson, and I'm an actuarial consultant with Via Actuarial Solutions. the coming
- As the LCPR's actuary, we provide independent actuarial advice and another perspective to the LCPR.
- we provide independent is actuary we provide independent Actuarial<00:40:59.560>
advice <00:41 - provide expert test Tony on Actuarial provide expert test Tony on Actuarial topics<00:42:58.760>
- The systems' retained actuary, or the LCPR-retained actuary in this case, us, what we do is we gather
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jul 15th, 2025
Select Committee on Pension Policy
Transcript Highlights:
- Now we'll move on to Michael Harbour, the actuary, for an actuarial update. Great.
- Now we'll move on to Michael Harbour, the actuary, for an actuarial update.
- Again, for the record, Michael Harbor, actuary for OSA.
- Yes, so as we looked ahead to September, two big actuarial presentations—our deputy actuary, Lisa, mentioned
- Those will be addressed in an updated actuarial analysis component in the final study.
Summary:
The Select Committee on Pension Policy Executive Committee approved the June minutes and received a brief update from Assistant Attorney General Jesse Yoder, who had no litigation updates but offered to answer questions. Actuary Michael Harbour then previewed the September full committee meeting, which will include a report on the financial condition of the DRS-administered pension plans and the state actuary’s recommended economic assumptions. He also cautioned that any actuarial pricing done over the summer could change if assumptions are updated, and suggested taking votes on potential legislation later in the interim, possibly in November or December.
A discussion followed about the Left 1 benefit improvement and where the funding came from. Harbour said the benefit tied to SSB 5791 (2022) was paid from the Left 1 trust fund, while a separate Left 2 benefit improvement was in SHB 1701, and he agreed to double-check the issue with DRS after members raised conflicting information. Members then discussed the broader Left 1 study, including whether IRS approval is a key barrier and whether options are limited to merger or closure. Several members asked to hear from Ice Miller, which has been advising on the tax issues, and staff said the committee should receive a written response in the next couple of weeks and could have Ice Miller appear in October.
The committee reviewed and adjusted its interim work plan. September will include the actuarial presentations, a more detailed Left 1 study update, and a presentation on PERS and TERS Plan 1 COLAs, including a recap of the bill recommended this year and initial considerations for an ad hoc COLA. October is expected to include DRS administrative and performance updates, with November reserved for the State Investment Board update and a final Left 1 study update, and December may include an educational presentation on excess compensation. Members also requested a future briefing on the month-of-death benefit discussion. The September agenda was adopted, correspondence materials were noted, and the meeting adjourned.
NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Oct 9th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- And we have a foundation that can guide the actuary through that process.
- From what the actuaries have told me—and I'm not an actuary; I do not speak, but I listen to them—they're
- ERB is doing an actuarial evaluation. They work with GRS.
- They're getting actuarial numbers every year.
- The actuarial calculations are done on a rolling five-year average.
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (8-26-25)
Transcript Highlights:
- <00:04:50.320>
assumed able to exceed their actuarial assumed able to exceed their actuarial - they look at these actuary assumptions they look at these actuary assumptions mortality<01:10:13.040>
- trend has been projected by the actuary trend has been projected by the actuary for<01:27:04.159
- >> Uh the 1.71% was an actuary number. >> Uh the 1.71% was an actuary number.
- <01:47:50.800>
cost choose, may pay TRS the actuarial cost choose, may pay TRS the actuarial
Summary:
The meeting opened with a quorum call, the Pledge of Allegiance, a prayer, and approval of the prior meeting minutes. The first presentation was from Bo Craycraft of the Judicial Form Retirement System, who gave an update on investment performance, asset allocation, cash flow, and projected employer costs. He reported strong fiscal year 2025 investment results, with both the legislative and judicial retirement plans outperforming their actuarial assumed rates of return and benchmarks, driven largely by U.S. equity performance. He also noted the plans remained near their target asset allocation and continued to experience negative cash flow, though he said that was manageable in context of strong asset growth.
Craycraft then discussed a recent experience study and actuarial assumption changes, especially a revised salary growth assumption and a higher cash balance interest credit rate. He said these changes increased projected employer costs, with contributions rising from about $700,000 to a projected $2 million in later years, though he expected the eventual 2025 valuation and investment gains to reduce that estimate. Members asked about mortality assumptions, the impact of the experience study on liabilities, and the sharp increase in the judicial plan’s projected employer cost. Craycraft explained that the increase was driven mainly by the updated assumptions and that no other major plan changes were involved.
At the chair’s request, Craycraft also addressed the recent rise in Medicare Advantage premiums for the plan’s health coverage, saying the 2025 increase was largely tied to Part D changes and the Inflation Reduction Act and had been about 45%, but that future growth was expected to be under 5%. After his presentation, the committee moved to the Kentucky Public Pensions Authority update, where the next speaker began by saying the funds had exceeded actuarial assumed returns for the fiscal year.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy May 20th, 2025
Select Committee on Pension Policy
Transcript Highlights:
- Next up, we've got the actuary update from Michael Harbour. Welcome, Michael, again. Thank you, Mr.
- Again, for the record, Michael Harbor, actuary for OSA.
- Be happy to try to answer any questions you might have on our actuarial fiscal note for...
- Because, you know, the actuary, actually, in conversations with our actuary, I was told that the 15-year
- Actuary, is he here still? And so that's going to impact the rates on Plan 1 as well, right?
Summary:
The Select Committee on Pension Policy executive committee met to approve the November minutes, which were adopted by voice vote. The committee then received an update from the Attorney General’s Office on two ongoing cases, Fowler and Joel Lynn, with briefing and oral argument timelines still pending. Michael Harbour of the Office of the State Actuary provided an actuarial update focused on ESSB 5357, explaining that the bill raised the assumed investment return from 7% to 7.25%, suspended UAL contribution rates for four years, and changed amortization for past benefit improvements; members asked for clarification on how those changes would affect long-term funding and contribution rates, especially for Plan 1 systems.
A substantial portion of the meeting was devoted to committee discussion of interim priorities and the need for more analysis of recent pension legislation. Members emphasized the importance of understanding the fiscal impacts of ESSB 5357 and related pension changes before the September economic experience study, and several asked staff to provide a more preliminary walkthrough of the bill’s effects. The committee also discussed the LEOFF 1 study and broader questions about overfunding, including when a plan should be considered overfunded and whether overfunding should be addressed through merger or closure proposals. One member suggested reviewing the operating budget’s excess compensation proviso during the interim as well.
Staff reviewed the draft 2025 interim work plan, proposing June topics including election of officers, a presentation on SB 5357 and its actuarial implications, and an initial LEOFF 1 study kickoff based on SB 5085 and HB 2034. The committee also placed excess compensation and demographic experience study items in a parking lot for possible later scheduling. The June agenda was adopted by roll call vote, with three ayes and three members absent or excused, and the meeting adjourned after no further business.
AR
Transcript Highlights:
- You should all have in your packet a copy of an actuarial and consultant services agreement.
- Generally, your actuarial would be a separate entity from the broker or the other person. Yep.
- This will be your own actuary that can give you an independent look at anything that's going to come
- I guess my question was looking at what we were compensating actuarial advantage in terms of...
- So just wanted to kind of see how that might compare to the other actuary service that we've already
Summary:
The Executive Subcommittee met and first considered a waiver request from the Stuttgart School District to use the TIPS interlocal purchasing system for a turf replacement project instead of the traditional competitive bid process. Superintendent Jeff McKinney explained that three bids were received but none fully met the RFP specifications, including warranty and insurance requirements. He said the district, with its architect’s guidance, determined that United Turf and Track was the best option because it met the 10-year warranty requirement, had resolved the insurance issue, had prior experience with the district, and could complete the work in time for summer installation. The committee approved the waiver request.
Members then approved a consultant services agreement between the Bureau of Legislative Research and WorkEd Consulting for work related to the workforce system study and potential legislation for the 2027 session. Senator Jane English and Representative Mary Bentley said the consultant would help the legislature develop reforms after prior audit findings showed the current workforce system was inefficient and ineffective. They noted WorkEd’s experience in other states, including Louisiana, West Virginia, Mississippi, and Virginia, and explained that some subcontractors would include people who had worked on the earlier Georgia Center for Opportunity study. The contract was approved.
The committee also approved a renewed actuarial and consultant services agreement with Perrin Knight for services related to the state’s new property insurance captive. Jill Thayer said the contract would provide independent actuarial support to legislative subcommittees, especially the State Insurance Properties Oversight Subcommittee, with services billed only as used. Members asked about budgeting, frequency of work, and overlap with existing executive branch contractors; Thayer and Senator Goodmore said the service had been anticipated from the start and would be separate and independent. Finally, Marty Garrity requested use of committee room funds to renovate Committee Room C in the Big Mac Building because its audio-visual equipment is outdated. That request was approved, and the meeting adjourned.
NH
New Hampshire 2025 Regular Session
House Commerce and Consumer Affairs (04/23/2025)
Transcript Highlights:
- That's what actuaries are for.
- actuaries are That's what actuaries are for.<04:02:12.720>
Okay. - two actuaries here. Wall-E from Casco. two actuaries here. Wall-E from Casco.
- <05:15:32.718>
The health trust external actuaries. The health trust external actuaries. - Actuaries cannot predict...
Summary:
The committee first heard Senate Bill 47, sponsored by Senator Regina Birdsell at the request of the Insurance Department. The bill would clarify that a birth mother’s health insurance is the primary policy for a newborn’s care unless the mother has no coverage or no employer-sponsored coverage. Birdsell and Insurance Commissioner DJ Benton Court said the measure simply codifies the department’s long-standing interpretation of existing law. Representative Miles asked whether the coverage would extend to a grandchild if a young woman on her parents’ plan had a baby, and Birdsell said it would. The hearing on SB 47 was then closed.
The committee next heard Senate Bill 121, introduced by Grant Bosi for Senator Kevin Avard. The bill requires insurers to notify the Insurance Department when they stop writing an entire line of business or, in some cases, when they change Medicare Advantage offerings. Benton Court said the bill was prompted by disruption in the Medicare Advantage market, where consumers and the department were confused by carriers exiting, changing plans, or narrowing offerings. He said the department does not regulate Medicare Advantage itself, but does license the carriers, and the notice requirement would help the department advise consumers; he also said noncompliance could affect a carrier’s license and could lead to fines. Members discussed the notice period, and the department and AHIP indicated support for changing it from 120 days to 90 days to align with federal timing. The hearing was closed with plans to work on an amendment in subcommittee.
Finally, the committee heard Senate Bill 247, introduced by Representative Brian Cole, which would prohibit network exclusion for pharmacies that refuse to dispense prescriptions when PBM reimbursement is below acquisition cost. Cole said the bill is meant to stop pharmacies from being forced to sell at a loss. Members questioned whether pharmacies voluntarily enter PBM contracts, whether the bill would raise consumer prices, and whether it would mainly affect independent pharmacies. Cole and others said the issue has changed over time because PBMs now control a much larger share of the market, and that the bill would let pharmacies refuse loss-making fills and direct patients to mail order instead. The discussion also noted that the bill excludes Medicare and Medicaid and that the current proposal does not create a middle-ground option for patients to pay a premium at the counter.
NH
New Hampshire 2025 Regular Session
House Executive Departments and Administration (01/15/2025)
Transcript Highlights:
- is the actuarial accrued liability?
- Page 26: every two years, NHRS has our actuary do a detailed actuarial valuation, and they calculate
- Page 26: every two years, NHRS has our actuary do a detailed actuarial valuation, and they calculate
- actuary do a detailed Actuarial actuary do a detailed Actuarial valuation<04:01:10.920>
and <04:01:29.279>acred it's the value of the Actuarial acred it's the value of the Actuarial
Summary:
The committee held an orientation for new and returning members of the House committee on agencies and administration, with introductions from members and staff. Chair Carol Maguire outlined her expectations for hearings: keep questions focused on the bill, be respectful to witnesses, and use the committee’s orientation opportunities to learn about the jail staff, retirement system, and Office of Professional Licensure. Members also discussed related assignments on other bodies, including the Joint Legislative Committee on Administrative Rules and the Joint Committee on Employee Classification, and noted that some members already serve on those panels.
A substantial portion of the meeting focused on the State Building Code and the committee’s upcoming workload. Members explained how the state code is intended to provide a common baseline while allowing limited local options, and why municipalities must formally adopt and publish any local amendments. They reviewed several anticipated bills: a consolidation bill to gather building-code enforcement materials in one place, a bill to update the state energy code, a bill to restrict municipal adoption of building-code changes, and a bill to update the electrical code. Members also discussed how building codes apply to older homes and commercial buildings, and why code updates are important for safety and clarity.
The chair said the committee had 36 bills currently scheduled, including many early bills that must move by March 6 because they will be heard by two committees. She said the committee would use subcommittees for harder bills, with three subcommittees this year: pensions, licensing, and likely state building code. She also outlined the hearing schedule, including lighter bills on February 12 and the expectation of executive sessions later in the month. No votes were taken during the orientation, but members were told that public hearings do not require a quorum and that hard copies of bills would be distributed by committee staff.
AR
Arkansas 2026 1st Special Session
ALC-EXECUTIVE SUBCOMMITTEE Mar 19th, 2026
ALC-EXECUTIVE SUBCOMMITTEE
Transcript Highlights:
- You should all have in your packet a copy of an actuarial and consultant services agreement.
- Generally, your actuarial would be a separate entity from the broker or the other person, but. Yep.
- and what the benefit is to having the additional consulting services, given that we also have the actuary
- This will be your own actuary that can give you an independent look at anything that's going to come
- So just wanted to kind of see how, you know, how that might compare to the other actuary service that
KY
Kentucky 2026 Regular Session
House Budget Review Sub. on Personnel, Public Retirement, and Finance (2-18-26)
Transcript Highlights:
- Again, this is, um, this really is an actuary would say that this is part of the AD deck.
- <00:18:56.160>
projects <00:18:56.720>that timing of when the actuary projects that - Uh, and this actuarial approach, called level amortization, it's a common tool in the actuarial world
- :08.320>
projections our actuary provides 30-year projections our actuary provides 30-year projections - <00:25:40.400>
has early years, but it is our actuary has early years, but it is our actuary
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.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 17th, 2025
Select Committee on Pension Policy
Transcript Highlights:
- It tends to be our busiest time of year, so we prepare our annual actuarial valuation reports.
- We prepare our annual actuarial valuation reports. We're in the midst of doing that.
- All that is to say the actuarial team is kind of at capacity right now.
- And that is the actuarial study—the left one study plan in the House. A lot of us didn't...
- With the actuarial study of the left one study plan. Mr.
Summary:
The committee approved the May minutes by roll call vote and then received brief updates from the Attorney General’s office and the Office of the State Actuary. The AG’s office said it would handle legal analysis related to the committee’s work, while the actuary reported that staff were at capacity this summer due to annual valuation work, experience studies, and other retirement system projects, but would have more capacity in the fall. Members also requested access to fiscal note and actuarial materials related to the LEOFF 1 study and related legislation.
The main discussion focused on the LEOFF 1 study, including actuarial funding, a proposed merger/termination/restatement approach, and the possibility of a permanent COLA for Plan 1 members. Several members supported keeping COLA recommendations in the committee’s work, while others raised concerns about whether merging or restating plans could affect benefits, legal status, or IRS tax treatment. The actuary explained that the temporary pause in certain funding rates reflected prior overfunding buffers and assumptions about future investment returns, and said future base-rate funding could still be needed depending on experience.
Members also discussed constituent correspondence, which staff said largely fell into four categories: the LEOFF 1 study, Plan 1 benefits and COLAs, fossil fuel divestment, and ESSB 5357. The committee agreed that divestment concerns are more appropriately directed to the State Investment Board, not this committee. In reviewing the draft interim work plan, members added or adjusted several topics for future meetings, including a July educational briefing on LEOFF 1 history and tax/IRS issues, a September discussion of COLAs, and a December placeholder for excess compensation/pension spiking, pending coordination with the LEOFF 2 Board. The committee then approved the July agenda and adjourned.
NH
New Hampshire 2025 Regular Session
House Commerce and Consumer Affairs (05/20/2025)
Transcript Highlights:
- It takes actuaries.
- And what we found in our actuaries.
- and consistent are based upon actuarial and consistent are based upon actuarial standards<01:38:
- range that our actuaries prepare.
- <01:49:32.480>
So range that our actuaries prepare. So range that our actuaries prepare.
Summary:
The subcommittee took up the pooled risk management program bill and reviewed a new amendment drafted with input from the Insurance Department and Legislative Services. Department witnesses explained that the proposal would move oversight of pooled risk management programs from the Secretary of State’s office to the Insurance Department, add a licensure requirement, preserve the programs’ non-insurer status, and exempt them from third-party administrator licensure. They also described a series of solvency tools in the draft, including financial reporting, risk-based capital standards, minimum capitalization, investment limits, commissioner examination and enforcement authority, rulemaking authority, merger and affiliate-transaction review, confidentiality protections, and a separability clause.
A major theme of the discussion was that pooled risk management programs differ from commercial insurers because the risk remains with the member local governments rather than being backed by a state guarantee fund. Witnesses said the bill is designed to emphasize solvency over return of premium and to give the Insurance Department a regulatory “toolbox” to prevent insolvency, including a proposed $5 million excess or stop-loss coverage benchmark, optional accessible policies, and a requirement that boards vote on dividends or premium returns when capital exceeds 600% of risk-based capital. Members questioned how this approach differed from the original Secretary of State bill and whether assessments on towns would still be possible; the department responded that the new framework would allow more flexible oversight and alternatives to immediate court action.
The committee also discussed why the statute should continue to say the programs are not insurers, with the department explaining that this preserves their autonomy and avoids applying unrelated insurance laws and premium taxes. Members asked about the department’s workload and were told the department believed it could absorb the new duties without additional funding. No vote or final committee action was taken in the portion provided.
MO
Missouri 2026 Regular Session
Joint Committee on Public Employee Retirement Apr 28th, 2026
Joint Committee on Public Employee Retirement
Transcript Highlights:
- They advise the board on actuarial assumptions and methods.
- for those unfunded liabilities, developed by the actuary.
- for those unfunded liabilities developed by the actuary.
- They did make minor changes to the actuarial assumptions.
- We're not the actuary. Oh, you're not the actuary. Okay. No worries.
Summary:
The Joint Committee on Public Employee Retirement held a hearing focused on the Missouri State Employees’ Retirement System (MOSERS) and its long-term financial condition. MOSERS Executive Director Abby Spieler and investment consultant Tim McKinery outlined the system’s structure, membership, funding policy, and investment approach. They reported that as of the June 30, 2025 valuation, MOSERS had a 55.4% funded ratio, about $17.4 billion in liabilities, and about $9.6 billion in assets. They explained that the FY27 employer contribution rate was certified at 32% under the board’s minimum contribution policy, up from 30.25%, and said the increase is tied to a $46 million new decision item in House Bill 5.
The presentation emphasized that MOSERS is a mature plan with more retirees and inactive members than active employees, and that slow or declining payroll growth has made it harder to pay down unfunded liabilities. MOSERS described recent policy changes intended to improve long-term stability, including lowering the investment return assumption over time, updating mortality assumptions, and adopting a minimum employer contribution policy. The board’s 2024 asset-liability study also led to a shift toward more public equity exposure and less fixed income, with the consultant saying asset allocation has been the main driver of relative investment underperformance versus peers in recent years, though recent returns have improved and the portfolio has outperformed its policy index over shorter periods.
Committee members questioned why the funded ratio has fallen over time, whether past investment assumptions were too optimistic, and whether the board had been too conservative in its asset allocation. MOSERS representatives responded that the earlier strategy was a board-approved risk-balanced approach and that hindsight makes the results easier to judge, while stressing that current changes are intended to improve long-term outcomes. Members also asked about the impact of inactive members, the automatic refund proposal for small terminated accounts, and the ongoing Catalyst Capital litigation. MOSERS said the proposed legislation would automatically refund small inactive balances and auto-escalate deferred compensation contributions, and reported that litigation-related attorney fees have been about $20 million so far. No votes were taken, and the committee adjourned after questions and discussion.
NM
Transcript Highlights:
- Chair, today I spoke with the actuary for OSI and asked about premiums.
- I, so when I look at the actuarial numbers they have a fund balance.
- I am relying on the actuaries' numbers to dial in what that deficit is, yes.
- And the advisory board is taking the actuaries' recommendation into account.
- The actuary told us that could drop that language.
MN
Minnesota 2025-2026 Regular Session
House Human Services Finance and Policy Committee 2/19/25
Human Services Finance and Policy
Transcript Highlights:
- the two different types of Actuarial the two different types of Actuarial analyses<00:01:52.840>
- would refer you to the Actuarial would refer you to the Actuarial analysis<00:04:53.800>
so rates we needed to do an Actuarial rates we needed to do an Actuarial analysis<00:08:26.840> - <00:08:46.040>
report fund it and then the Actuarial report fund it and then the Actuarial - reports the release of the Actuarial reports the release of the Actuarial report<00:09:10.120>
TX
Texas 89th 2nd C.S.
Health Care Affordability, Select May 1st, 2026
Health Care Affordability, Select
Transcript Highlights:
- But stepping into actuarial land here, you know, most actuaries tell me that the difference in costs
- Would you agree with that, actuary? Yes. Ken, would you agree with that?
- I'm going to ask the actuary, does that count as a loss?
- I was going to see what Susan talked about from an actuarial standpoint.
- I'm also a health care actuary. So I'll start with...
NM
New Mexico 2025 Regular Session
IC - Courts, Corrections and Justice Nov 6th, 2025
Courts, Corrections & Justice Committee
Transcript Highlights:
- To assist me today at the table is Christian Myers, who is OSI's chief actuary.
- Do you want to explain it in more actuarial terms than I can? Yes, Mr.
- Can I refer to my actuary to talk about that?
- I understand actuaries well, as I was on the board for eight years.
- And I'm seeing nodding from our actuary who's here.
KY
Kentucky 2026 Regular Session
Medicaid Oversight and Advisory Board (1-12-26)
Transcript Highlights:
- <00:20:51.640>
studies, for actuarial studies, for actuarial studies, but<00:20:53.960> - <00:20:54.760>
studies but I don't see those actuarial studies but I don't see those actuarial - current actuarial current actuarial rates<00:21:48.040>
should <00:21:48.200>be <00 - actuarial findings. actuarial findings. >> Right. >> Right. >> Right.
- <00:41:49.400>
sound help us determine um actuarially sound help us determine um actuarially
Summary:
The Medicaid Oversight and Advisory Board met on January 12, 2026, to approve the December 10, 2025 minutes and continue finalizing its findings and recommendations. Members reviewed findings on administrative inefficiencies, Medicaid and workforce participation under HR 1, Medicaid budget growth, rural health transformation fund development, and provider tax/state-directed payment changes. The board approved a motion to change “pilot” to “partnership” in the workforce-related recommendation, and also adopted a technical amendment clarifying overlapping HCBS services by removing reference to adult daycare waiver services and revising the language to focus on reducing duplication, simplifying provider contracting, and standardizing processes across programs. A separate technical correction was noted to change “DMS” to “DPH” in the rural health transformation finding, to be handled in the final edits.
Several findings drew discussion but no final substantive vote during the meeting. On the rural health transformation fund, Dr. Berg said Kentucky had done well in federal funding and noted limits on what could be shared publicly, while Commissioner Lee said a public website had been created and recommended the department reference be changed to the Department for Public Health. Finding five prompted extended discussion about provider taxes, state-directed payment reductions under HR 1, and whether the board should address the relationship between actuarial studies, MCO payments, and actual provider reimbursement more directly. Senator Meredith and others argued for a broader, more transparent baseline review of rates across provider groups, while Commissioner Lee said CMS will require certain fee schedule comparisons to Medicare beginning July 1, 2026, and that quarterly expenditure reports already go to LRC.
The board did not finish resolving finding five during the meeting and agreed to return to it after staff prepared more explicit language. Members also discussed the possibility of an all-payers claims database as a better way to understand what is being paid across payers and services. No final vote on the full findings package was taken in the portion of the meeting provided, but the board did adopt the noted amendments and continued working through the remaining language.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Elder Affairs Jun 21st, 2026 at 10:00 am
Transcript Highlights:
- Last week I spent the last 33 years as a health care actuary, working within Boston the entire time.
- So I'm not your typical NAFA member, but then again, I'm not your typical actuary either.
- As an actuary and consultant, I've had the opportunity to contribute to and collaborate with several
- be actuarially sound.
- as well. ...experts, including financial advisors and, yes, actuaries as well.
Summary:
The Aging and Independence/Elder Affairs Committee heard testimony on several bills, with the main focus on H.769/S.468, an act to improve care and prepare for the new era of Alzheimer’s and dementia. Legislators and advocates described the bill’s provisions, including expanded dementia training for first responders, a dementia services coordinator/director in state government, improved hospital discharge and caregiver access protections, dementia care coordination benefits for certain MassHealth members, public awareness and data collection requirements, and expanded support for geriatric workforce recruitment. Representative Danielle Gregoire and Senator Gomez framed the measure as a zero-cost, bipartisan continuation of the 2018 Alzheimer’s and Dementia Act, while the Alzheimer’s Association, Boston Public Health Commission, police representatives, clinicians, and family caregivers all testified in support, emphasizing public health needs, early diagnosis, caregiver involvement, and safer emergency and hospital care.
The committee also heard testimony on H.796/S.476, which would establish an Office of Older Adult Advocate and a special commission on a statewide long-term services and supports benefit program. Representative Steve Ultrino supported an independent older adult advocate to help navigate fragmented state services and improve constituent services, while committee members asked about funding and the office’s relationship to existing secretariats. On the long-term care commission bill, NAFA Massachusetts and LeadingAge Massachusetts supported creating a stakeholder commission to review actuarial findings and explore public-private financing options for long-term care, stressing that neither public nor private coverage alone is sufficient and that middle-income families need more planning tools and options.
The committee also took testimony on H.786/S.466, a bill to protect vulnerable elders by expanding the Executive Office of Elder Affairs’ authority to investigate abuse or neglect in non-traditional custodial settings such as prisons, jails, shelters, group homes, and certain treatment facilities. Prisoners Legal Services said the bill would close a jurisdictional gap that leaves some older adults without an investigative agency once they age out of DPPC coverage. No votes were taken during the hearing, and the meeting ended with a motion to adjourn.
TX
Texas 89th Regular
Pensions, Investments & Financial Services Apr 23rd, 2025
Pensions, Investments & Financial Services
Transcript Highlights:
- care of our firefighters now and for the foreseeable future while ensuring the pension fund is actuarially
- In short, this bill is a thoughtful compromise informed by extensive actuarial analysis. ...analysis,
- Would it be OK if I had our staff actuary come up and answer that?
- Because I'm not the actuary, I don't have the technical pension expertise.
- And as long as we're fully covering the actuarial cost of the benefit, it's a fantastic bill.
Bills:
HB886, HB1514, HB2434, HB2688, HB2802, HB3161, HB3221, HB4029, HB4339, HB4591, HB4774, HB4802, HB4853, HB5627, SB1737
Keywords:
retirement, supplemental payment, benefits, Employees Retirement System, eligible annuitants, legislation, annuity, service credit, Employees Retirement System of Texas, employee benefits, pension reform, public retirement systems, municipality pensions, firefighters, police officers, retirement age, DROP program, actuarial studies, pension benefits, municipal retirement