Video & Transcript Research : 'Deferred Retirement Option Plan'

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LA

Louisiana 2026 Regular Session

Senate May 31st, 2026

Louisiana Senate Floor Meeting

Transcript Highlights:
  • Senate Resolution 194 by Senator Pressly is a resolution to commend Gary Lash upon his retirement as
  • superintendent of the Vernon Parish School Board, and to congratulate him on the occasion of his retirement
  • Senator Reese moves adoption of the resolution. ...and congratulate him on the occasion of his retirement
Summary: The Senate met with 29 members present, heard a prayer and national anthem presentation, and approved the journal without objection. The chamber then received multiple messages from the House on conference committee reports and concurrence actions, and took up a long calendar of Senate resolutions and House/Senate bills returned from the House with amendments. Several resolutions were adopted without objection, including commendations and requests for reports or studies, while others were left over or returned to the calendar. The Senate concurred in or adopted amendments on a series of bills covering registrar compensation (SB 25), broadband administration and reimbursement (SB 80), school safety master key boxes (SB 132), dental coverage for cancer treatment (SB 155), paid parental leave for educators (SB 157), election supervisor compensation days (SB 202), water utility service line replacement funding (SB 228), weight management services through the Office of Group Benefits (SB 250), medical debt protection (SB 414), Medicaid coverage of weight-loss medication (SB 443), and design-build authority for vertiport facilities (SB 513). It also adopted a House concurrent resolution urging backup motors for the St. Claude Avenue Bridge (HCR 32). One bill, SB 479 on removal of certain judges, had its amendments rejected and was sent to conference. The chamber then considered conference committee reports on several measures. Reports were adopted on SB 312 (labor organization dues and fees), SB 208 (veterans services and VA-related restrictions), SB 382 (workers’ compensation advisory council and reimbursement schedule timing), SB 389 (agent and athlete registration and fee review), and multiple House bills including HB 359 (party primary qualifying rules), HB 368 (New Orleans historic preservation lien procedures), HB 468 (wholesale residential real estate definitions), HB 552 (DWI-related responsive verdict language), HB 732 (motor vehicle fines/fees and hybrids), HB 870 and HB 1236 (pharmacy benefit manager and insurance provisions), and HB 1117 (prescription period issues). HB 210 on retroactivity was also adopted after debate. Several conference reports were temporarily passed over or returned to the calendar, including HB 953, and the Senate adjourned to reconvene the next morning for final work.
KY
Transcript Highlights:
  • retirement provisions. retirement provisions.
  • retirement.
  • their retirement voided by that retirement system.
  • :42.240> retirement retirement voided by that retirement retirement voided by that retirement
  • Um, any dependent child payments and any health insurance premiums paid by the plans. retirement being
Summary: The meeting began with quorum, approval of the prior minutes, and an announcement that the June meeting had been canceled and replaced by this combined May/June meeting; the next official PPOB meeting was announced for July 21 at 2:30. Staff then gave an overview of the Public Pension Oversight Board’s required actuarial audit process, explaining that House Bill 238 requires a review every five years of the retirement systems’ actuarial assumptions and methods, funded by the systems themselves. The presentation distinguished this audit from a financial or forensic audit, described the three possible audit levels (full replication, limited/spot review, or basic review), and noted that the last audit in 2021 was a level one performed by Milleman Consulting at a cost of about $190,000. Members discussed timing for the next audit cycle, with a request to LRC likely needed in July or August to target the June 30, 2026 valuation, and several members expressed interest in another level one review. Questions also addressed whether prior audits found major issues; staff said the 2021 review was generally clean but recommended more consistency in reporting and assumptions across systems. The committee then welcomed new staff and interns, including Odet Guanzi of KPPPA and Team Kentucky intern Amamira Bowman. Bo Barnes of the Teachers Retirement System presented an overview of the statutory framework for reemployment after retirement under KRS 161.605. He explained that the law is intended to let retirees return to help with staffing needs, do so in an actuarially sound way through required contributions, and keep TRS compliant with federal tax rules for a qualified plan under section 401(a). Barnes described the required breaks in service and earnings limits for retirees returning part-time or full-time, including the three-month or 12-month break depending on the employer, the 6,900-day limit, and the daily wage threshold based on years of service. He also noted a lightly used critical shortage program that allows school districts to hire retirees without a wage cap, while still observing the break-in-service rules. Members asked questions about who decides the scope and level of the actuarial audit, how the audit would treat leave balances and other benefit-related items, and whether the prior level one audit identified substantial problems. Staff said the committee would request the audit, but LRC would handle contracting, and that the audit scope could include items like sick leave and annual leave costs if requested. On the reemployment topic, Barnes emphasized that the rules are designed to avoid pre-arranged retire-and-return arrangements that could jeopardize TRS’s tax-qualified status. No formal votes were taken beyond approving the minutes, and the meeting concluded with the presentations and discussion of these pension oversight issues.
TX
Transcript Highlights:
  • This bill would expand that range by adding an 8% option.
  • In short, this bill provides cities with an additional option to help manage retirement benefits and
  • The contribution is not mandatory; it is completely optional.
  • Again, this will be an option provided to the municipalities.
  • The level of like the retirement fund targets or below it. I'm just curious.
KY
Transcript Highlights:
  • Now, as it relates to our two plans, you can see that at least initially the plans have weathered this
  • It's uh good to be Retirement System.
  • initially um the plans have weathered initially um the plans have weathered this<00:04:59.600>
  • General Counsel for Teachers Retirement General Counsel for Teachers Retirement System.
  • first slide uh represents the retirement first slide uh represents the retirement annuity<00:37:
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.
AZ

Arizona 2026 Regular Session

01/28/2026 - Senate Public Safety

Public Safety

Transcript Highlights:
  • They briefed us on the plans for Spaceport Yuma, which is coming along pretty nice at the moment.
Summary: The Public Safety Committee met and approved several bills, beginning with SB 1107, which creates an alternative Arizona peace officer certification pathway for honorably discharged veterans who served as military police. The sponsor and a former military police officer testified that the bill would recognize existing training while still requiring Arizona-specific training, certification testing, background checks, and fitness standards. The committee adopted a clarifying amendment limiting the pathway to military police veterans and then passed the bill 7-0. The committee then passed SB 1308, which creates a Foreign Adversary Fraud Office in the Attorney General’s Office and related funds to pursue consumer fraud claims involving technology from foreign adversaries and to help replace such technology in critical infrastructure. Supporters argued the bill would address both consumer fraud and national security risks tied to foreign-made technology in utilities, communications, and other infrastructure. The bill was approved 7-0. The committee also passed SB 1020, creating an Arizona Space Commission specialty license plate to support the commission’s work; supporters said it would raise voluntary revenue and promote Arizona’s growing space industry. That bill also passed 7-0. SB 1160 was approved after amendment. The bill restricts drones near ticketed entertainment events, and the amendment expanded the restricted area from 400 feet to 5,280 feet. The sponsor, along with representatives from NASCAR and Live Nation, said the measure would close a public safety gap and protect large crowds from unauthorized drones. The committee passed the bill as amended 7-0. SB 1117 was also approved 7-0; it appropriates funds to DPS crime lab services for processing evidence from counties with populations under one million, with the sponsor saying it would help rural counties handle DNA and other evidence backlogs. Finally, the committee passed SB 1216, which removes the sunset on traumatic event counseling for public safety employees and expands eligibility to include crime scene and digital forensic technicians. Testimony from the Arizona Police Association supported making the counseling program permanent and extending it to additional employees exposed to traumatic material. The bill passed 7-0, and the committee adjourned after completing its agenda.
AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Mar 19th, 2025

Finance and Taxation General Fund

Transcript Highlights:
  • But the idea of the concept, I think, is that when someone goes off and they retire, then you need...
  • Retire and then you need to rehire them back.
  • Montgomery County—and it does specify the city of Montgomery, I should say—participate in the Employees Retirement
  • I think all cities have an option to come into the RSA. This is only for the city council...
  • Okay, optional. In fact, are there any other questions? Any objections?
Bills: SB208, SB216, HB187
KY
Transcript Highlights:
  • Uh, well, for the KHP, um, you know, there are optional plans there, including, uh, I believe there's
  • of their plan. of their plan.
  • um you know there there there optional um you know there there there optional plans<00:44:20.000
  • . plan. plan.
  • . plan. plan.
Summary: The Public Pension Oversight Board received updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. Chris Biddle reported that deferred compensation assets had grown to about $4.787 billion with roughly 88,000 participants, crediting auto-enrollment, targeted marketing around pay raises, and retiree-focused services. He said the board’s self-directed brokerage account, authorized by last year’s legislation, is being designed around a $40,000 account-balance threshold with up to 25% transferable into the brokerage window, tentatively for July 1 of the coming year. He also described the free financial planning program, which has been used by about 3,300 to 3,500 participants with an 87% return rate, and noted that the plan is currently in a fee holiday; members asked about the fee structure and whether the CFP service is provided through Nationwide, which Biddle confirmed. Board members praised the deferred compensation program’s growth and asked for the legislation referenced by Biddle. He said the plan’s annual fees are capped, with a $1 monthly fee plus other charges up to a $225 cap, for a maximum of $237 per year absent a managed account. He also said the program is seeking unified payroll access to expand participation, especially among teachers, and that prior lineup changes saved about $6 million annually in participant fees. Bo Barnes of TRS then addressed retired teachers’ health insurance, first clarifying a prior question about declining federal contributions to the retirement annuity trust. He explained that federally funded school positions generated contributions that rose from $72 million in 2019 to $109 million in 2022, then fell to $85 million this year, with a projection of $80 million over the next three years; if those dollars do not come from federal sources, they would have to be replaced through the SEEK formula. Barnes then reviewed TRS health coverage, explaining that the statutory contract guarantees access to group coverage but not fixed premium levels, and that TRS administers two retiree plans: KEHP for retirees under 65 or otherwise not Medicare-eligible, and MEHP for retirees 65 and older or Medicare-eligible. Barnes said TRS completed RFPs for the 2026 plan year, retaining Express Scripts for prescription drugs and switching the Medicare Advantage medical provider from UnitedHealthcare to Humana, while keeping plan design, provider access, out-of-pocket costs, and benefits materially unchanged. He noted a modest hearing-aid improvement of $500 per ear beginning in 2026. He also reported that the TRS Board approved the maximum state contribution for KEHP at $1,044.96, up from $930.76, an 18% increase that he said would require about $15 million to $16 million more annually, while the MEHP premium would drop from $210 to $200 per month because of the new contract. Using the 2024 valuation, he said the KEHP increase would slightly reduce the health trust funded ratio from 80.4% to 80.1% and raise unfunded liability from $4.036 billion to $4.051 billion. Barnes closed by reviewing the 2010 shared-responsibility reforms that shifted retiree health costs away from a pay-as-you-go model, including phased employee and district contributions and Commonwealth stabilization funding. No votes were taken beyond approval of the minutes.
KY
Transcript Highlights:
  • But yes, they do. >> And like other state plans, is that what the Kentucky Deferred Comp.
  • Barnes said that in the KEHP plan, there are a number of options retirees can choose.
  • And in that plan, um there are a number<00:21:16.080> of<00:21:16.240> options<00:21:16.640
  • Uh, well, for the KHP, you know, there are optional plans, including, I believe, there's still going
  • . plan. plan.
Summary: The Public Pension Oversight Board met with a quorum, approved the prior minutes, and heard updates from the Kentucky Public Employees Deferred Compensation Authority and the Teachers Retirement System. The deferred compensation update highlighted continued growth in assets to about $4.787 billion and roughly 88,000 participants, strong retention from auto-enrollment, a marketing campaign tied to pay raises that generated additional participation, and a new self-directed brokerage account expected to launch July 1 of the coming year for participants with at least a $40,000 balance, allowing up to 25% of their account to be moved into the brokerage window. The director also described the free financial planning service, which has been used by about 3,500 participants with a high return rate, and said the plan is currently in a fee holiday; if fees are charged, they are capped at $237 per year for most participants. Members asked questions about who provides the CFP service, the fee structure, and the brokerage eligibility threshold. The director said the CFP service is provided through the authority’s service bundle with Nationwide, not as a separate paid service, and explained that the fee cap and current fee holiday are intended to keep the program low-cost. Board members praised the deferred compensation program’s performance and asked for a copy of the legislation referenced in the presentation. TRS then presented on retired teachers’ health insurance. Barnes first clarified how declining federal contributions for federally funded school positions affect the retirement annuity trust, explaining that if those federal dollars fall, the amounts would need to be covered through the SEEK formula and that the projection for those contributions is about $80 million over the next three years. He then reviewed TRS retiree health coverage, distinguishing between KEHP for retirees under 65 or not Medicare-eligible and MEHP for Medicare-eligible retirees, and explained that TRS recently completed RFPs for both prescription drug and medical coverage. TRS will keep Express Scripts for prescription drugs, but will move the Medicare Advantage medical plan from UnitedHealthcare to Humana on January 1, 2026, while keeping the plan design, provider access, and out-of-pocket structure largely unchanged, with a new hearing-aid benefit of $500 per ear. Barnes also reported the 2026 premium and contribution changes: the maximum TRS contribution toward KEHP will rise to $1,144.96 from $930.76, an 18% increase that he said will require roughly $15 million to $16 million more in the state budget, while the MEHP premium will drop to $200 per month from $210. He said the TRS board has statutory authority to set these amounts and that the changes will have mixed actuarial effects, with the KEHP increase being negative overall and the MEHP decrease positive.
AL

Alabama 2026 1st Special Session

Alabama House Public Safety and Homeland Security Committee Apr 1st, 2026

Public Safety and Homeland Security

Transcript Highlights:
  • not must, but can come in and do several different things, including establish a corrective action plan
  • , establish a corrective action plan, establish a corrective action plan, deploying<00:26:24.400>
  • I can send you my recruitment retention plan.
  • I can send you my recruitment retention plan.
  • I can send you my crime fighting plan.
AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Apr 23rd, 2025

Finance and Taxation General Fund

Transcript Highlights:
  • So anyway, that's the plan we So anyway, that's the plan we got right now. Any questions on that?
  • Overall, I think it's a good plan; we just want to make sure that natural growth isn't overlooked in
  • It's just simply a procedure to give state employees and retired state employees a cost of living increase
  • But yes, that's the plan. Any other explanations or discussions? I think we have a motion.
OK

Oklahoma 2026 Regular Session

Rules REVISED Apr 20th, 2026 at 09:00 am

Rules

Transcript Highlights:
  • Opra's moved from the defined contribution or defined benefit plan to the defined contribution plan back
  • And so all of us, for example, legislators elected after 2015 are part of the Healthfinder plan, not
  • the Opra's plan.
  • I appreciate the options that I have there. Thank you, Madam Chair.
  • We are achieving happy families with more children taking this option.
TX

Texas 89th Regular

Local Government (Part I) Apr 28th, 2025

Local Government

Transcript Highlights:
  • individuals from serving on civilians oversight boards if they have been one, convicted or placed on deferred
  • You have deferred adjudication in here.
  • Now you know deferred adjudication is not a finding of guilt. It's not a conviction. True.
  • And you've got a third of the Senate listening right at this point deferred adjudication.
  • OK, do we want the retired mayor to go first, or the, it's we'll start here right to left, my former
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Feb 17th, 2026 at 01:30 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • My plans after high school are just to go to college, senators.
  • I am paging with Senator Julie Daniels, and my future plans are to attend Southern Nazarene University
  • I am honored to be paging for Senator Brenda Stanley, and after high school, I planned to attend the
  • I'm a sophomore, and I'm paging for Senator Paxton and I'm undecided in plans after high school.
  • I am paging for Senator Pugugh and My plans are to attend Leeds Beckett University in England to play
NE

Nebraska 2025-2026 Regular Session

Legislative Morning Session Apr 17th, 2026

Nebraska Unicameral Floor Meeting

Transcript Highlights:
  • Nebraska congratulating her on her career and well-deserved retirement.
  • So congratulations to Marcia, and well-deserved retirement.
  • This is your second retirement party for crying out loud.
  • I'm a This is your second retirement party for crying out loud.
  • So I plan to relish early release with no probation.
Bills: LR509, LR510, LR511
TX

Texas 89th Regular

S/C on Academic & Career-Oriented Education Apr 10th, 2025

S/C on Academic & Career-Oriented Education

Transcript Highlights:
  • I believe this bill focuses exclusively on the years towards retirement. So it's a TRS issue. Okay.
  • Giving credit for previous work experience as service credit for the Teacher Retirement System on a higher
Bills: HB 1057, HB1876
TX
Transcript Highlights:
  • The plan today is to attend to pending business and then hear testimony on the bills listed for today's
  • Only premium optional services carry a cost recovery fee, and that fee is kept at the command's actual
  • Air Force retired, which is excellent.
  • One option would be to create a separate agency.
  • Additionally, it expands the options for appraiser management companies to choose a licensed appraiser
MN

Minnesota 2025-2026 Regular Session

House Human Services Finance and Policy Committee 4/1/25

Human Services Finance and Policy

Transcript Highlights:
  • While this contract does not create a retirement plan, it lays the foundation for a defined contribution
  • :05:01.880> retirement<00:05:02.520> plan<00:05:02.880> it<00:05:03.000> lays
  • <00:05:03.360> the create a retirement plan it lays the create a retirement plan it lays the
  • This contract does not immediately put any money into a retirement plan, but it sets up an infrastructure
  • This contract does not immediately put any money into a retirement plan, but it sets up an infrastructure