Video & Transcript : 'retirement contributions' :
Page 41 of 500
CA
California 2025-2026 Regular Session
Senate Labor, Public Employment and Retirement Committee Jun 24th, 2026
Labor, Public Employment and Retirement
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
MO
Missouri 2026 Regular Session
Joint Committee on Public Employee Retirement Apr 28th, 2026
Joint Committee on Public Employee Retirement
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.
WA
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.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 04/01/25
Minnesota Senate Floor Meeting
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.
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (12-12-25) - Part 2
Transcript Highlights:
- </c> to be able to get into the retirement to be able to get into the retirement system<00:38:03.599>
- And what employee retirement system.
- contribution contribution uh<00:42:02.400><c> for</c><00:42:02.720><c> certain</c><00:42:02.960><c>
- </c> would make a contribution. would make a contribution.
- </c> service credit and retire a year early. service credit and retire a year early.
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.
CA
California 2025-2026 Regular Session
Assembly Public Employment and Retirement Committee Apr 23rd, 2025
Transcript Highlights:
- It would allow a small contribution to those plans, allow the union to negotiate a small contribution
- modifications to public employee retirement benefits, including the retirement formulas, the age of
- retirement, and requiring public employees to contribute more to their own retirement benefits.
- 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
Summary:
The committee heard several bills focused on public employment, retirement, and recognition of cultural and public service issues. AB 569 would allow local governments and unions to negotiate supplemental pension contributions for certain employees; AB 989 would make California Native American Day an official paid state holiday; AB 268 would recognize Diwali as an official state holiday; AJR 3 would urge protection of Social Security, Medicare, and Medi-Cal from federal cuts; AB 1067 would require misconduct investigations to continue even if an employee retires during the process; AB 1510 made technical and conforming changes to state employee pay and benefits laws and to Santa Clara Valley Transportation Authority labor law; and AB 1233 would create a statewide database of classified school employee employment history and serious misconduct records. The committee also took up AB 1383, which would lower the retirement age for certain first responders and restore some bargaining rights over retirement benefits, drawing extensive testimony for and against.
Supporters of the holiday bills emphasized long-overdue recognition of Native American and South Asian communities and the importance of honoring California’s diversity. Supporters of AJR 3 described the reliance of seniors, people with disabilities, and families on federal and state health and retirement programs, warning that cuts would cause serious harm. AB 1067 was presented as a way to prevent employees from retiring to avoid accountability, while AB 1233 was framed as a student-safety measure to help schools identify applicants with prior egregious misconduct. Opposition to AB 1233 focused on due process and the breadth of the misconduct records, and opposition to AB 1383 argued it would reverse PEPRA reforms, raise pension costs, and strain local budgets, while supporters said firefighters and other first responders face unique health and safety risks and deserve earlier retirement.
Most bills were reported out of committee on unanimous or near-unanimous votes and placed on hold for add-ons or referral to Appropriations or another committee. AB 912 was taken up on the consent calendar and held; AB 569, AB 989, AB 268, AJR 3, AB 1067, and AB 1510 all advanced with do-pass recommendations and were placed on hold. AB 1233 was moved to the Committee on Education. AB 1383 drew the most extensive debate, with many witnesses in support and opposition, and committee members largely expressing support for first responders while also noting concerns about cost and pension policy.
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (2-24-25)
Transcript Highlights:
- , which is 3.75%; the school district contribution of 3%; the state contribution of 7.5%; and the amount
- </c><00:08:23.680><c> contribution</c> 3.75% the school district contribution 3.75% the school district
- </c><00:08:44.959><c> of</c> deals with the employer contribution of deals with the employer contribution
- </c><00:38:34.119><c> Systems</c> retirement any of the Retirement Systems retirement any of the Retirement
- </c> has participated in any the Retirement has participated in any the Retirement Systems<00:40:39.960
Keywords:
Meeting Start: 00:17
Attendance Roll Call: 00:41
Approval of Minutes: 02:40
HB 694: 03:16
SB 183: 18:32
Discussion on PPOB Membership: 36:10
Adjournment: 42:35, 958, all
Summary:
The committee first approved the minutes from its January 27 meeting and then took up House Bill 694, which would create a default rule for the Teachers’ Retirement System health insurance trust fund once it reaches 100% funding, currently anticipated around 2027. The bill would redirect two funding streams now going to the health trust—state payments on behalf of local districts and other employer contributions—into TRS pension benefits if the health fund reaches and maintains full funding. The sponsor said this would add about $154 million annually to TRS pensions and would only serve as a default if no other plan is adopted later.
Members asked whether the bill would shift the unfunded liability to teachers or affect employee contributions. The sponsor and staff said it would not shift liability to teachers and would not change the employee contribution; only the employer-side payments would be redirected. Several members asked about the meaning of actuarial 100% funding, whether the fund could fall back below 100%, and whether employee contributions might be reduced in the future. The sponsor said the bill is based on actuarial projections, would revert the money back to the health trust if funding fell below 100%, and does not prevent future legislative or board action. Senator Higdon and others spoke in support of discussing the issue, noting the 2010 shared-responsibility changes and the need for a default approach as full funding is reached.
The committee then heard Senate Bill 183, which would amend Kentucky law governing proxy advisers used by retirement systems. The sponsor said the bill would require proxy advisers, when handling shareholder-sponsored proposals, to act solely in the interest of retirement system members and beneficiaries and to provide an economic analysis when voting against a company board’s recommendation. He argued the measure is aimed at proxy advisers such as ISS and Glass Lewis, which he said often advance ESG-related proposals not tied to shareholder value. A guest from APCIA said the bill is meant to distinguish proxy advisers from investment managers and to strengthen the 2023 law by requiring a clearer economic justification for votes that depart from board recommendations.
Members asked how proxy advisers differ from other financial advisers, whether Kentucky uses them, and whether the bill would prevent pension funds from investing in companies with ESG factors if those investments are profitable. The sponsor and guest said the bill would not bar such investments; it is intended to regulate proxy voting recommendations, not investment decisions. They described the bill as a proactive measure to reinforce fiduciary responsibility and limit outside proxy influence on pension voting. No final vote on either bill was taken in the portion of the meeting provided.
NH
New Hampshire 2025 Regular Session
House Executive Departments and Administration (02/19/2025)
Transcript Highlights:
- Those were considered earnable time, and they contributed to the maximum amount that contributed to retirement
- The more years that an employee works and the longer it contributes to the retirement system, that decreases
- And when somebody is retired but still working the same hours, same type of hours that contributed to
- 00:17:28.280><c> to</c><00:17:28.439><c> retirement</c> that contributed to retirement that contributed
- </c> contributes to the retirement system contributes to the retirement system that<00:18:42.679><c>
Summary:
The subcommittee first took up House Bill 702, which would change how extra or special duty pay for retired police officers is treated for retirement and work-limit purposes. Supporters argued the bill would let retirees work more special-duty hours, helping municipalities fill traffic-detail and similar assignments without added state cost, and said it would not prohibit retirees from working but would simply stop those hours from counting toward the return-to-work threshold. Opponents argued the change would be inconsistent with the retirement system’s 2011 reforms, could increase pension liabilities, and would treat the same compensation differently for active employees and retirees. Members also discussed whether the bill would affect current and future retirees, the role of municipalities, and whether the policy amounted to “policing for profit.” The subcommittee ultimately voted 3-2 to recommend inexpedient to legislate (ITL) on HB 702, sending it to the full committee with that recommendation.
The committee then discussed House Bill 581, which would create a Group Three retirement plan for new state employees hired after the bill’s effective date. The chair outlined a housekeeping amendment to delay implementation, moving the effective date to January 1, 2026, and noted a sponsor amendment addressing health insurance group inclusion and medical and surgical benefits so those benefits would not be put at risk for the new group. Testimony and discussion focused on the shift from defined benefit to defined contribution, with supporters citing Michigan examples and arguing the bill would help recruit and retain employees while giving them more flexibility. Opponents said the change could weaken retirement security and increase unfunded liability, though supporters responded that the bill still requires employer contributions toward accrued liability and is intended to keep the state on track to pay off its unfunded liability by 2039. The transcript ends with continued discussion of the bill and no final vote shown on HB 581.
MO
Missouri 2026 Regular Session
Elementary and Secondary Education Feb 25th, 2026
Elementary and Secondary Education
Transcript Highlights:
- So, just on full disclosure, I have a retired wife who's a teacher, many friends who are retired teachers
- they may not be ready for retirement.
- They decide ahead of time, I'm going to retire, and they start looking for a job before they ever retire
- But a lot of people, when they're ready to retire, they're ready to retire.
- What they are modeling is that more folks will retire: the 15% who are eligible to retire now and then
KY
Kentucky 2026 Regular Session
House Standing Committee on State Government (2-19-26)
State Government
Transcript Highlights:
- </c> the uh the the system the retirement the uh the the system the retirement system<00:03:47.680><c
- </c> I'm a retired captain from the Kentucky State Police. Uh, I retired in 2021.
- First, it requires participating employers to pay the minimum employer retirement contribution, helping
- </c> The minimum employer retirement contribution helps maintain the fiscal integrity of the retirement
- </c> workforce and the retirement system. workforce and the retirement system.
LA
Transcript Highlights:
- Okay, members, today is 10/29/26, and this is the hearing of the Retirement Committee.
- the public retirement system from 16 to 12 hours.
- I'm the director of the Teacher's Retirement System.
- Municipal Employee Retire. All right. I'll have staff read in.
- the School Employees' Retirement System.
AL
Alabama 2025 Regular Session
Alabama House Ways and Means Education Committee Feb 12th, 2025
Ways and Means Education
Transcript Highlights:
- from a defined contribution plan in Alabama.
- Just to be clear, those 65-year-olds may have retired when they were... though may have retired when
- Of course, myself being a retired educator... course, myself being a retired educator, but as an active
- How long does a defined contribution last?
- So, those people, though, maybe retired early. Maybe they retired at 50 and didn't work.
TX
Transcript Highlights:
- House Bill 18 relates to a restriction on the acceptance of political contributions in the making of
Bills:
SB 2, SB 10, HB27, HB18, HB17, SB 9, SB 7, SB 17, SB 4, HB18, SR 1, SR 2, SR 5, HB18, HB17, SB9, SB7, SB17, SB4, SR1, SR2, SR5, SB2, SB10, HB27
Keywords:
HB 18, Texas Legislature, quorum break, quorum-busting, legislative walkout, absent legislators, political contributions, campaign finance, political expenditures, legislative caucus, specific-purpose committee, Texas Ethics Commission, civil penalty, show cause order, district court, Fifteenth Court of Appeals, session fundraising, travel lodging food expenses, legislative session, compelled attendance
TX
Bills:
SB 2, SB 10, HB27, HB18, HB17, SB 9, SB 7, SB 17, SB 4, HB18, SR 1, SR 2, SR 5, HB18, HB17, SB9, SB7, SB17, SB4, SR1, SR2, SR5, SB2, SB10, HB27
Keywords:
HB 18, Texas Legislature, quorum break, quorum-busting, legislative walkout, absent legislators, political contributions, campaign finance, political expenditures, legislative caucus, specific-purpose committee, Texas Ethics Commission, civil penalty, show cause order, district court, Fifteenth Court of Appeals, session fundraising, travel lodging food expenses, legislative session, compelled attendance
KY
Kentucky 2026 Regular Session
Public Pension Oversight Board (1-16-26)
Transcript Highlights:
- So, the court ruling that retired out.
- </c><00:03:47.440><c> that</c> thousand employees that retired that thousand employees that retired that
- Employees Retirement System.
- Employees Retirement System.
- retirement, that's the 30% value?
Keywords:
Meeting Start: 00:00
Attendance Roll Call: 00:11
Legislative Proposal:
Representative Blanton: 01:12
• House Bill 220
Approval of Minutes: 10:07
Legislative Proposal:
Senator Nunn: 10:24
• Sick Leave Flexibility for School District Employees
Adjournment: 34:35, 958, all
Summary:
The committee first took up Representative John Blanton’s bill on pension spiking and Kentucky Public Pension Authority administration. Blanton said the measure would make a prior court-related pension-spiking fix retroactive to July 1, 2022, so employees who retired between that date and the court ruling would be treated the same as those covered by the earlier legislation. KPPPA staff said they did not think the bill would go beyond the Court of Appeals ruling, but noted it could prompt requests from people who retired before July 1, 2022. Members asked about how many retirees might be affected, whether the language was narrow enough, and whether the bill could open the door to additional claims; Blanton estimated roughly 1,000 retirees would need review, with fewer actually impacted. No vote was taken on the bill in the excerpt.
The committee then heard Senator Matt Nunn and Scott County Schools Superintendent Billy Parker present a proposal allowing school districts to offer teachers and other employees a voluntary payout for unused sick days. Supporters said the idea could improve attendance, reduce substitute costs and classroom disruptions, help retain younger teachers, and potentially lower long-term retirement-related costs because the payout would not count toward pension compensation. They emphasized the program would be optional for districts and employees, would require teachers to keep at least 15 sick days in reserve, and would be district-funded rather than a state cost. Members raised questions about budget impact, tax treatment, pension effects, and whether the incentive would actually change behavior; the bill sponsor and witnesses said the payout would be taxed like other compensation and would not affect TRS or CERS benefits. One member requested reporting on how the program would be used, and the sponsor said he would be open to adding that. The sponsor also noted a later committee-substitute change would allow use of accumulated sick leave for observance of religious holidays not otherwise on the school calendar, with a personal statement from the employee.
AL
Alabama 2025 Regular Session
Alabama House Fiscal Responsibility Committee Feb 19th, 2025
Fiscal Responsibility
Transcript Highlights:
- It's 30 years of service, and the retirement age is 62 to be eligible for retirement.
- It's a little hard because when we talk with RSA, we look at total retirements, not just certified retirements
- For three to five years, their retirement...
- , you wouldn't draw a retirement right away.
- Retired employees and educators help us with those retirement systems. I know...
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
OK
Oklahoma 2026 Regular Session
Appropriations and Budget Education Subcommittee Jan 22nd, 2026 at 09:00 am
A&B Education Subcommittee
Transcript Highlights:
- Employer contributions, dedicated revenue, member contributions.
- contributions.
- Did they retire at the time of first eligibility? Did they work a few years past normal retirement?
- You talked about the safety of knowing that you can't outlive that retirement system With a defined contribution
- These pension plans are also designed to retire people when you would like them to retire, right?
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/10/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- </c> retirement experience. retirement experience.
- </c><00:38:23.880><c> And</c> retirement options. And retirement options.
- </c> entire retirement savings industry. entire retirement savings industry.
- contributions? contributions?
- and what are those contributions and what are those contributions?
LA
Transcript Highlights:
- If you apply, if you retire in 2010 or 2020, you have to Right now, if you retire in 2010 or 2020, you
- Employees' Retirement System.
- Do you get overtime pay contributing to your retirement calculation? But it was so...
- retirement system.
- ' Retirement System.
Summary:
The Retirement Committee heard several retirement-related bills and deferred two measures at the start: HB 26 and HB 993 were voluntarily deferred by the author. HB 31, by Rep. Eccles, would allow certain small municipalities to terminate participation in the municipal police employees’ retirement system and create a lower-cost “Plan C” option for small towns like Stirlington. After discussion about population and officer-count limits, the committee adopted amendments, heard concerns from the Municipal Police Employees’ Retirement System about remaining issues, and reported HB 31 as amended favorably.
The committee also advanced HB 1134, which creates a backdrop-style retirement option for judges whose positions are abolished, and HB 24, which would allow retired teachers to return to work as one-year contract teachers without the current retirement contribution structure. TRSL testified that return-to-work policy is complex and that a broader Senate study-group proposal is also moving, but the committee reported HB 1134 and HB 24 favorably. HB 21, a technical correction to the Municipal Employees’ Retirement System law, was amended to remove a sunset problem that would be fixed in another bill and was reported favorably as amended.
Later, the committee reported HB 1017 favorably, which limits former spouses’ claims to post-divorce earnable compensation in the Firefighters’ Retirement System, with testimony that the bill would reduce litigation over promotions and raises after divorce. HB 43, which would let certain LASERS members retire after 35 years of service at any age, drew testimony from LASERS about its cost and workforce effects but received no motion and was voluntarily deferred. HB 30 was also voluntarily deferred because its substance would be moved into another bill.
The committee then took up two major municipal police bills. HB 45, after extensive negotiations among the author, the Louisiana Municipal Association, EMPERS, and the City of New Orleans, was substantially rewritten by amendment to address retention pay, out-of-state service credit purchases, survivor benefits for certain officers killed in the line of duty, COLA funding, and a reduction in the non-hazardous accrual rate. The committee adopted the amendments and reported HB 45 as amended favorably. HB 49, a related bill on municipal police and firefighter retirement issues, was also replaced by a substitute that changed opt-out procedures, revised partial dissolution rules, and preserved full dissolution liability; after testimony that the changes would save New Orleans and other cities significant money, the committee adopted the substitute and reported HB 49 as substituted favorably. The meeting ended with adjournment.
LA
Transcript Highlights:
- Employees' Retirement System.
- In fact, most of them have 20- to 30-year retirements, and they can retire at any age at that time.
- Do you get overtime pay contributing to your retirement calculation? But it was so...
- ' Retirement System.
- ' Retirement System.