Video & Transcript : 'pension fund' :

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MN
MN

Minnesota 2025-2026 Regular Session

Rep. Tim O’Driscoll departing member remarks 5/18/26

Minnesota House Floor Meeting

Transcript Highlights:
  • Colleen Her and I knew each other on pensions. And by the way, why am I big up pensions? My dad.
  • Speaking of pensions, it hasn't always been rosy in the pensions world.
  • You are a great player in the pensions<00:14:01.360><c> world.
  • </c> pensions world. Stick with it, please. pensions world. Stick with it, please. Please. Please.
  • <c> hasn't</c><00:14:07.240><c> always</c> Speaking of pensions, it hasn't always Speaking of pensions
WA
WA

Washington 2025-2026 Regular Session

Legislative Republican Leaders Media Availability Feb 24th, 2026 at 09:15 am

Transcript Highlights:
  • And on top of, you know, raiding the rainy day account, I mean, we're raiding a pension fund.
  • to sweep them into the general fund.
  • Well, I would say that using pension funds to balance the budget is a poor use...
  • Pension funds to balance the budget is a poor use of pension funds and, as Representative Couture mentioned
  • And so to say to pensioners we're going to use money that's in your pension system to balance our desires
Summary: House and Senate Republican leaders held a media availability focused on the final stretch of the legislative session, with repeated criticism of Democratic budget proposals and several policy bills. They said they were especially concerned about an environmental crimes bill they argued would impose excessive penalties for workplace mistakes, as well as bills they described as anti-law-enforcement, including measures related to police face coverings and sheriff qualifications. They also discussed a proposed income tax, calling it unconstitutional and urging that it be sent to referendum if it advances. A major topic was the operating, transportation, and capital budgets. Republicans said the operating budget relies on one-time fund sweeps, raids the rainy day fund and pension assets, and assumes future income-tax revenue while cutting Medicaid, child care, schools, and other services. They said the transportation budget has some positive emphasis on road preservation but criticized ferry funding and the proposed sweep of the Public Works Trust. On the capital budget, they were less specific and described it as generally bipartisan. The lawmakers also addressed reports of fraudulent or duplicate sign-ins on the income-tax bill, saying any abuse should be investigated but that many duplicate entries may have been accidental rather than malicious. They said the system should be improved with better verification, but maintained that more than 100,000 unique people had signed in opposition. Other issues discussed included opposition to using pension funds to balance the budget, criticism of a Sound Transit proposal for 75-year bonds, concerns about a bill requiring arbitration before lawsuits against the state or local governments, and objections to child care budget changes they said would hurt rural and property-poor communities without broader regulatory reform.
CA
CA

California 2025-2026 Regular Session

Assembly Public Employment and Retirement Committee Apr 8th, 2026

Transcript Highlights:
  • Therefore, SERA is the only 1937 Act county pension system that does not offer an automatic yearly pension
  • In the 18 years since, the last pension COLA In the 18 years since the last pension COLA was granted,
  • People want to fund education. But there's limited funds.
  • For some, they don't have consistent or ongoing funding, jobs that are grant funded, like a literacy
  • They're funded through Jobs that are grant-funded, like a literacy coach or a homelessness assistant
Summary: The committee heard several bills related to public employment. AB 1601, by Assemblymember Rogers, would give Sonoma County flexibility to work with its retirement board and actuaries on a possible retiree cost-of-living adjustment; supporters said Sonoma is the only 1937 Act county system without an automatic COLA and that retirees have gone since 2008 without an increase, while no opposition testified. The bill passed on a do-pass vote and was placed on the floor. AB 1729, by Assemblymember Lee, would update state telework policy by requiring written telework plans, adding more structure before return-to-office decisions, and restoring public reporting on telework savings. Supporters, including SEIU Local 1000, the Association of California State Supervisors, and many state workers, argued telework improves productivity, reduces emissions and commute costs, and could save the state about $225 million annually; there was no opposition. The committee approved the bill 6-0 and re-referred it to Appropriations. AB 1630, by Assemblymember Colosa, would allow union representatives to invite bargaining-unit members to observe meet-and-confer sessions, including remotely, to increase transparency and engagement. UC and CSU opposed the measure, saying observer rules should be negotiated at the table and warning the bill lacked clear limits on the number of observers and could create logistical and security problems. The bill passed 5-0 with one member not voting and was sent to Appropriations. AB 1750, also by Assemblymember Colosa, would require school employees who exhaust sick leave and are absent due to illness or injury to receive full salary for an additional five months. CTA supported the bill as a needed safety net for teachers and classified staff, while school districts and administrators opposed it over cost, staffing, and student stability concerns, saying it could encourage longer absences and strain already tight budgets. The committee passed the bill 5-0 and sent it to Higher Education. AB 1896, by Assemblymember Gonzalez, would bar people who participated in immigration enforcement from holding California public employment, with supporters framing it as a response to ICE and Border Patrol actions and opponents warning it was overbroad and could exclude otherwise qualified applicants from law enforcement jobs; the bill passed 5-1 and was referred to Public Safety.
KY
KY

Kentucky 2025 Regular Session

Public Pension Oversight Board (4-28-25)

Transcript Highlights:
  • </c> funds um from an accounting perspective. funds um from an accounting perspective.
  • All four of the plans—pension and insurance, JRP, and LRP—had exceeded the 100% funding level.
  • </c> health insurance and how it's uh funded. health insurance and how it's uh funded.
  • </c> insurance trust reach 100% funding. insurance trust reach 100% funding.
  • that fund viable?
Summary: The meeting opened with the Pledge of Allegiance and prayer, followed by a roll call confirming a quorum and approval of the prior minutes. A special guest, Dave Eager, was welcomed before the committee moved to presentations from retirement system officials. Bo Craycraft, executive director of the Judicial Form Retirement System, gave a quarterly update on investment performance, asset allocation, and cash flow. He said the plans had held up well amid market volatility, with fiscal year-to-date returns above benchmark and long-term returns remaining strong. He explained that the plans are targeted to a 70% equity/30% fixed-income allocation, that some cash is being held for cash-flow management, and that negative cash flow is expected because of funding and contribution levels. He also said Senate Bill 183, dealing with proxy voting and economic analysis for certain votes, was not expected to materially affect the plans because of their small number of holdings and Bear Trust’s long-term investment approach. Ryan Barrow and Erin Surrod then presented for the Kentucky Pension Authority. They reported positive quarterly performance across the retirement and insurance funds, though results varied by period and remained tied to broader market conditions. They said recent asset-allocation changes had been completed and the funds were now within target ranges. On cash flow, they noted some plans remained negative or near zero, with one plan benefiting from a large appropriation. In the legislative update, they described House Bill 30 as codifying an exclusion from pension-spiking calculations for across-the-board raises, and Senate Bill 10 as increasing retiree health insurance subsidies and changing employee health insurance contribution rules for certain CERS members beginning in 2026. They also said Senate Bill 183 would likely have limited impact, though the agency would review voting policies and incorporate any required economic-analysis procedures.
MA
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Public Service Jun 21st, 2026 at 01:00 pm

Joint Committee on Public Service

Transcript Highlights:
  • Pensions of retirement boards. One's scratching their head wondering what they're doing here.
  • funding schedules are, in the actuary's terms, de minimis or negligible.
  • funding schedules are in the actuary's terms de minimis or negligible.
  • I'm left without the pension I was led to expect, and an insecure picture of my retirement.
  • She took money out of her account, the TIAA prep fund.
Committee: Joint Joint Committee on Public Service
Summary: The Joint Committee on Public Service heard testimony on a range of retirement-related bills, with several witnesses and advocates focusing on pension equity, veteran benefits, and recognition for public safety workers. Representative Dennis Gallagher and Mass Retirees supported legislation to increase the long-standing veterans’ bonus from $15 to $50 per year of service, up to $1,000 annually, and described it as a modest, overdue adjustment with minimal fiscal impact. Mass Retirees also backed bills to raise the minimum survivor allowance for public retirees and to address inequities in Option B and Option C survivor benefits for retirees whose pensions were calculated under older mortality tables. The committee also heard a personal bill from Representative Jim Arceiro and Nathan McKinnon seeking creditable service for McKinnon’s years in the Nevada higher education system, which he said should count toward his Massachusetts retirement. Another individual bill was presented by Roberta Wollins, supported by Senator Keenan, to remedy what she described as misleading retirement advice from UMass Boston that affected her ability to buy back prior service and made her retirement planning inaccurate. Senator Keenan and others framed both cases as unique fairness issues rather than broad policy changes. A large panel from police, fire, corrections, EMS, and related organizations testified in favor of a COVID-19 retirement credit proposal and a study bill, arguing that essential workers who reported in person throughout the pandemic should receive recognition and a time-based retirement credit. Witnesses described exposure risks, illness, deaths, staffing strain, and long-term effects from COVID-19, and several committee members voiced support and appreciation for their service. The hearing concluded with no votes taken on the bills and a motion to adjourn, which was approved.
WA
WA

Washington 2025-2026 Regular Session

Select Committee on Pension Policy Apr 21st, 2026 at 11:30 am

Select Committee on Pension Policy

Transcript Highlights:
  • I'm new to the area of pensions. We'll never be with you. My name is Keith Adams.
  • I'm new to the area of pensions.
  • So we can study obviously the outcomes in terms of what they're receiving in terms of pension.
  • And then in July, that should prep you to make a right recommendation to the Pension Funding Council.
  • And then looking ahead to September, we'll provide you an update on what exactly the Pension Funding
Committee: Joint Select Committee on Pension Policy
CA
CA

California 2025-2026 Regular Session

Assembly Public Employment and Retirement Committee Apr 23rd, 2025

Transcript Highlights:
  • AB 1383 does not grant retroactive retirement benefit increases or pension holidays.
  • It does not. ...retroactive retirement benefit increases or pension holidays.
  • Instead, it will drive up pension costs.
  • Sacrifices that brought our funded status from 62% up to 87%.
  • Raising the cap on the pensionable salary is an issue.
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.
CA
CA

California 2025-2026 Regular Session

Assembly Public Employment and Retirement Committee Apr 23rd, 2025

Public Employment and Retirement

Transcript Highlights:
  • Decisions related to pensions, public safety, and transparency.
  • For the City of Salinas, we have over $11.4 million that we pay annually into pensions.
  • Those sacrifices brought our funded status from 62% up to 87%.
  • Raising the cap on the pensionable salary is an issue.
  • Raising the cap on the pensionable salary is an issue.
Committee: House Public Employment and Retirement
Summary: The Assembly Committee on Public Employment and Retirement heard several bills dealing with pensions, holidays, public employee accountability, and first responder retirement. AB 912 was taken up on the consent calendar and passed. AB 569, as amended, would allow local public employers and unions to negotiate contributions to supplemental defined benefit pension plans; the author and Teamsters said it would clarify existing PEPRA grandfathering rules, while labor supported it, and the bill passed to Appropriations. AB 989 would make California Native American Day a paid state holiday, with strong support from Native organizations and tribes and no opposition; the committee members spoke in favor and the bill passed. AB 268 would recognize Diwali as an official state holiday, also with broad support and no opposition, and it passed. AJR 3 urged protection of Social Security, Medicare, and Medi-Cal from federal cuts; retirees, caregivers, and health advocates testified in support, and the resolution passed. AB 1067 would require public employers to complete misconduct investigations even if an employee retires during the process; the author said it closes an accountability loophole, while opposition raised due process and family-retirement concerns, and the bill passed as amended. AB 1510 was presented as a cleanup bill making technical changes to state employee pay and benefits and Santa Clara Valley Transportation Authority labor law; it passed with support from AFSCME. The committee then heard AB 1233, which would create a statewide database of classified school employee positions and certain egregious misconduct records to help school employers screen applicants. School administrators and county school officials supported the bill as a student-safety tool, while classified employee groups raised concerns about fairness, due process, and the scope of misconduct covered; the author said the bill already focuses on serious sex and drug offenses involving children and was open to narrowing language. The bill passed to the Committee on Education. Finally, AB 1383, a major first responder retirement bill, drew extensive testimony. The author and firefighters argued that lowering the normal retirement age for public safety employees from 57 to 55 and restoring some bargaining flexibility would help recruitment, retention, and health, citing cancer and other job-related risks. Cities, counties, and local government associations opposed it, warning it would roll back PEPRA reforms, increase pension costs, and strain local budgets. Despite the opposition, committee members spoke strongly in favor of first responders and the bill passed to Appropriations. The committee then adjourned after all items were voted out.
KY
KY

Kentucky 2026 Regular Session

Budget Review Subcommittee on General Government, Finance, Personnel, and Public Retirement.(6-3-26)

Transcript Highlights:
  • Not every state pre-funds pension side.
  • 100% funded.
  • 100% funded.
  • </c> put supplemental funding. put supplemental funding.
  • So, just focusing on the pension side, the insurance side is a lot better funded, and it's a bright spot
Summary: The committee held its first official interim meeting after merging the General Government and Finance, Personnel, and Public Retirement committees, establishing a quorum and opening with the pledge and prayer. Members then received a briefing from KPPA representatives Ryan Barrow and Aaron Sarock on the state retirement systems, including KERS, CERS, and SPRS, and on the importance of fully funding the actuarially determined employer contribution, supplemental appropriations, and investment earnings in reducing unfunded liabilities. They said the systems have made progress toward a statutory closed amortization target of 2049 and emphasized that supplemental funding lowers current employer contribution rates but does not change that end date. A major topic was federal and state reemployment-after-retirement rules for retirees who return to work with participating employers. KPPA explained that retirees must have a bona fide separation from service, no prearranged agreement to return, and generally a one-calendar-month break in service for retirees on or after January 1, 2024. If a member fails to comply, retirement benefits can be voided, payments stopped, health coverage ended, and benefits repaid. The presenters also noted that rehired retirees do not earn a second retirement account, and employers rehiring them must pay employer contributions and, in non-exempt cases, reimburse health insurance costs. Members asked about the scale of rehired retirees and the difference between employer contribution and health insurance reimbursement amounts. KPPA said that in fiscal year 2025 there were over 3,500 rehired retirees in CERS and over 5,000 in SPRS, with substantial employer contributions and health reimbursement payments collected. They also explained that some positions are exempt from these chargebacks, including school resource officers and certain law enforcement positions that meet statutory criteria. The committee discussed House Bill 213, which allows cities, sheriffs’ departments, and post-secondary institutions to offer health insurance to rehired officers if authorized by the governing body, effective August 1, 2026, and clarifies the fiscal-year basis for certain exemption limits. No votes were taken.
LA
LA

Louisiana 2026 Regular Session

Natural Resources May 27th, 2026

Natural Resources

US
US

US Federal 2025-2026 Regular Session

US House Floor Proceedings (Thursday, May 14, 2026)

US Federal House Floor Meeting

Transcript Highlights:
  • </c><02:59:39.680><c> Uh</c> uh the true source of the funds. Uh uh the true source of the funds.
  • </c> bail funds remains legal in most states. bail funds remains legal in most states.
  • </c> actually fund at this point. actually fund at this point.
  • I ask Heroes Compensation Fund.
  • </c> be entirely funded by private sources. be entirely funded by private sources.
Bills: HB8365 , HB5625 , HCR75 , HB6260 , HB8469
Keywords: monitoring, court appointments, public service, accountability, government oversight, pro bono, reduced fees, cashless bail, criminal justice, public safety, Attorney General, pretrial release, Iran, military force, War Powers Resolution, U.S. Armed Forces, hostilities, Congress, national security, bail fraud
OK
OK

Oklahoma 2026 Regular Session

Revenue and Taxation Apr 13th, 2026 at 02:00 pm

Revenue and Taxation

LA
LA

Louisiana 2026 Regular Session

Ways and Means Apr 7th, 2026

Ways & Means

Transcript Highlights:
  • have proof of funding, you can always say, hey, look, I don't want to buy it.
  • You had to show evidence that you had the resources and funding to do it.
  • , which would constantly grow this fund.
  • No one ever funded it. It was in a new term.
  • How is this going to be funded from the initial funding mechanism?
Bills: HCR35 , HB440 , HB515 , HB543 , HB614 , HB1010 , HB1039 , HB1088 , HB1122 , HB1179 , HB1200
Committee: House Ways & Means
Keywords: tax delinquency, property sale, rehabilitation, Louisiana State Law Institute, legislation, homestead exemption, property tax, parish governance, Louisiana Constitution, voter approval, adjudicated property, real estate, political subdivisions, property sales, government authority, residential lease, tax credit, property valuation, Louisiana constitution, disaster response
AL
AL

Alabama 2026 Regular Session

Alabama Senate County and Municipal Government Committee Apr 2nd, 2026

County and Municipal Government

MN
MN

Minnesota 2025-2026 Regular Session

House Children and Families Finance and Policy Committee 3/18/26

Children and Families Finance and Policy

Transcript Highlights:
  • Yes, SSIS needs to be funded. We put out that funding as a legislative body last year.
  • </c> concerning is an idea without funding. concerning is an idea without funding.
  • </c> counties were funded. counties were funded.
  • /c> funded.
  • We put out that funding as a funded.
Bills: HF3665 , HF3002 , HF4217 , HF4125 , HF4174
Committee: House Children and Families Finance and Policy
Keywords: foster care, early childhood education, child care programs, placement plan, social services, extended foster care, kinship care, relative custody, permanent legal and physical custody, Northstar kinship assistance, independent living plan, transition services, youth aging out of care, medical assistance, Medicaid, child welfare, children youth and families, out-of-home placement, case plan, relative placement
WA
WA

Washington 2025-2026 Regular Session

Senate Transportation Feb 26th, 2026 at 08:00 am

Transportation

Transcript Highlights:
  • Lastly, subpart ten adds administrative fund transfers that were assumed but erroneously omitted.
  • Lastly, subpart ten adds administrative fund transfers that were assumed but erroneously omitted.
  • Lastly, subpart ten adds administrative fund transfers that were assumed but erroneously omitted.
  • We will move to a briefing on Senate Bill 6225, authorizing bonds for transportation funding.
  • We will now move on to Senate Bill 6225, authorizing bonds for transportation funding.
Bills: SB6005 , SB6225
Committee: Senate Transportation
Keywords: transportation budget, transportation appropriations, capital budget, supplemental budget, Washington State Department of Transportation, WSDOT, Washington State Patrol, Department of Licensing, ferries, Puget Sound ferries, tolling, express toll lanes, highway safety, traffic safety, impaired driving, ignition interlock, speed cameras, transit funding, public transit, multimodal transportation
OK
OK

Oklahoma 2026 Regular Session

County and Municipal Government Feb 18th, 2026 at 03:00 pm

County and Municipal Government

NM
NM

New Mexico 2026 Regular Session

House - Taxation and Revenue Feb 14th, 2026 at 10:35 am

House Taxation & Revenue

Transcript Highlights:
  • If we didn't put them in this, how would they get this funding?
  • If we didn't put them in this, how would they get this funding? Madam Chair.
  • So The specific centers within their ability to spend funds.
  • It goes back to the debt service fund to repay the bonds if they were initially issued.
  • You know, we were looking at those types of funding.
Bills: HB248 , HB309 , HB332 , SB48
Committee: House House Taxation & Revenue
Keywords: general obligation bonds, GO bonds, capital projects, bond election, property tax levy, state debt, state finance, capital outlay, senior centers, senior citizen facilities, aging services, long-term services, libraries, library acquisitions, broadband for libraries, higher education, university capital projects, community colleges, tribal schools, special schools
NM
NM

New Mexico 2026 Regular Session

House - Taxation and Revenue Feb 13th, 2026 at 08:35 am

House Taxation & Revenue

NM
NM

New Mexico 2026 Regular Session

Senate - Judiciary Feb 4th, 2026 at 06:26 pm

Senate Judiciary