Transcript Highlights:

• in the Municipal Police Employees Retirement System.
• Retirement System.
• Retirement System.
• Well, she's still paying into the retirement system, or he's still paying into the retirement system.
• Employee Retirement System.

Summary: The Senate Committee on Retirement met on May 5 with four members present. HB 41 was deferred until the following week, and the committee approved the April 20, 2026 minutes. The committee then took up several retirement-system bills, many of them negotiated measures involving municipal police, firefighters, teachers, district attorneys, and judges. HB 45, by Rep. Bacallat, was amended and reported favorably. It makes changes to the Municipal Police Employees Retirement System, including retention bonuses, recognition of out-of-state police service, benefits for three officers killed in the line of duty before full enrollment, a DROP fix, and more competitive accrual rates. Testimony from the Louisiana Municipal Association, MEPERS, police representatives, and Mayor Helena Marino was strongly supportive, emphasizing that the bill resolves longstanding disputes and litigation. HB 1237, also by Rep. Bacallat, was reported favorably after testimony that it eliminates partial dissolution penalties for municipal police and adjusts related firefighter provisions; witnesses said it was a negotiated fix supported by municipal and fire stakeholders. HB 42, concerning phased retirement in the Teacher Retirement System, was reported favorably as a permissive framework allowing universities to offer phased retirement options. HB 17, by the District Attorneys’ Retirement System director, was reported favorably to add the Louisiana District Attorneys Association to the definition of employer and require annual reporting on the rehire statute. HB 21, a cleanup bill for the Municipal Employees Retirement System, was also reported favorably. HB 1134, creating a backdrop retirement option for certain judges whose positions are abolished, was amended and reported favorably after LASERS raised questions about early retirement eligibility and the need to bar future judicial candidacy. HB 24, by Rep. Owen, drew the most discussion. It would allow retired or certified teachers to return to work through contracts with school systems, with a three-year sunset. The sponsor argued it would help keep qualified teachers in classrooms and avoid midyear departures, while TRSL, the Louisiana School Board Association, and committee members raised concerns about fiscal impact, contractor status, workers’ compensation, leave rules, and overlap with a separate bill being worked on by the chairman. After an amendment clarifying the independent-contractor definition was adopted, the committee chose to hold the bill in committee for further work rather than advance it immediately. The meeting ended with a motion to adjourn.

Transcript Highlights:

• HB 5167 by Montgomery, relating to the membership of the Employees Retirement System in Texas for certain
• HB 5167 by Montgomery, relating to the membership of the Employees Retirement System in Texas for certain
• HB 5167 by Montgomery, relating to the membership of the Employees Retirement System in Texas for certain
• HB 5167 by Montgomery, relating to the membership of the Employees Retirement System in Texas for certain
• HB 5167 by Montgomery, relating to the membership of the Employees Retirement System in Texas for certain

Keywords: 1184, house, all

Transcript Highlights:

• You cannot pay into a retirement system and draw out of a system at the same time.
• >> Well, whether it will help the retirement system, potentially hurt the retirement system, or any analysis
• funding level of the retirement system? funding level of the retirement system?
• > the retirement system, potentially hurt the retirement system, potentially hurt the retirement
• assumption because they're already retired. active employee people.

Keywords: Finance - Room 216, 2 February, 2026; 3:00 PM, 925, all

Summary: The committee first heard a bill concerning tax increment financing (TIFs). The sponsor explained that the measure would not change the existing financing structure, but would add an optional arrangement cities could negotiate with developers: a revenue bond guaranteed by taxes generated from the development. The goal was to let developers guarantee the bond and access funds sooner on the front end of a project rather than waiting to see whether tax revenues meet projections. After no questions, the committee adopted a motion that the title was sufficient and reported the bill out do pass as a committee substitute. The next bill, Senate Bill 2873, came from the Department of Revenue and dealt with enforcement of the state’s vape registry law. The sponsor said the bill fills a gap left by prior legislation by creating a statutory forfeiture process for seized products valued at $20,000 or less, including notice, a right to contest, and rules for disposition of forfeited property. The committee then moved the bill title sufficient and do pass, and it was reported out. Senate Bill 2894 addressed local improvement projects funded in 2021 through 2024 that had not been executed or had unspent money remaining. The bill would require return of certain funds after a memorandum of understanding was not signed or after three years with unspent balances, require remittance of unspent interest, allow withholding of some city diversion or state aid road funds for noncompliance, and require periodic status reports to the Legislative Budget Office. The sponsor also offered an amendment giving entities 60 days from the bill’s effective date to request a one-time six-month extension; the amendment and the bill both received favorable votes and were reported out. Senate Bill 2910 would require employers in the PERS system to settle the books if a unit of government or other employer terminates participation. Senate Bill 2911 proposed a new return-to-work option for PERS retirees, shortening the separation period from 90 days to 30 days and allowing certain retirees to return to public employment at up to 80% of the stated salary, with employer-paid retirement contributions and possible health insurance support. The sponsor said the bill would exclude elected officials, K-12 superintendents, and IHL/community college administrators, and he discussed the bill’s expected effect on PERS funding with questions from members about actuarial impact and whether the proposal would affect existing retirement rules. Both bills were discussed but the transcript excerpt does not show final committee action on Senate Bill 2911.

Transcript Highlights:

• For certificated employees, we have a system. This is a process for reporting employees.
• 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.
• More alarmingly, it could undermine the very retirement our system and our employees are counting on

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.

Transcript Highlights:

• system for public employees.
• roles in Group 4 of the state retirement system.
• retirement system.
• no longer an employee of the Commonwealth pending the disability retirement.
• classification system for municipal employees and employees of the public authorities.

Keywords: 995, all

Summary: The Joint Committee on Public Service heard testimony on a wide range of retirement classification and benefit bills affecting municipal and state employees. Much of the hearing focused on proposals to move various workers from Group 1 to Group 2 or Group 4, including municipal building officials (H. 2776), MassDOT highway workers (H. 2908/Sousa’s Law), DCF attorneys (H. 2771), probation officers, licensed electricians, drinking water operators (H. 3000/S. 1834), MWRA non-clerical workers (S. 1803), transitional parole officers (H. 2878), Plymouth BCI criminal investigator officers (H. 2975/S. 1863), Beverly fire alarm operators/public safety telecommunicators (S. 1876), Massport pipefitters and refrigeration technicians (H. 2788/S. 1829), and other public safety or hazardous-duty classifications. Witnesses generally argued that their work is physically dangerous, understaffed, or comparable to already higher-classified employees, and several said the changes would help recruitment and retention with little fiscal impact because the affected groups are small. The committee also heard testimony on H. 4508, a home rule petition to grant a disability pension to Boston principal Patricia Lampron. Supporters, including Representative Dan Hunt, Boston city councilors, and Lampron herself, described a severe 2021 assault at the Henderson Inclusion School that left her with lasting physical and psychological injuries and forced her into early retirement. They urged the committee to advance the bill quickly. One witness, Pamela McLaughlin, testified in opposition, arguing the bill would set the wrong precedent and describing alleged prior misconduct by Lampron, and asked that the bill be sent to study. Several witnesses and committee members asked brief questions, mainly about the scope of the bills, whether certain workers were already in higher groups, and the fiscal or precedent concerns. No votes were taken during the hearing. At the end, the chairs announced that testimony was complete, asked whether anyone else wished to speak, and then the committee voted to adjourn.

Transcript Highlights:

• This is our state employees retirement system. They have done their part.
• > retirement is our state employees retirement is our state employees retirement system.<00:10
• by the retirement system. system. system.
• to the retirement system. to the retirement system.
• the retirement system last year. the retirement system last year.

Keywords: MS Senate Floor - 7 January, 2026; 10:00 AM, 925, all

Summary: The Senate convened with a quorum present, heard an invocation from Reverend Chip Stevens of First Baptist Church in Jackson, and recited the pledge of allegiance. The body then dispensed with the reading of the journal, committee reports, and bill titles, and received several guest introductions, including the president of Mississippi University for Women, the physician of the day, and the session’s pages. The main item of business was Senate Bill 2004, the Mississippi PERS Stability Act. Senator Sparks explained that the bill would provide a $500 million infusion to the PERS accumulated employers account on July 1, 2026, followed by $50 million annually for 10 years, with backup funding from unobligated general funds if needed. He said the measure was intended to help address the system’s roughly $26 billion liability and to support both state employees and local government employers, noting that the state had already taken other steps to strengthen PERS. The bill was advanced to engrossed status, read for the third time, and placed on the calendar for final passage. Senator Norwood asked whether the funding would help local governments, and Senator Sparks said it would, because the liability is shared by all employers in the system and affects local balance sheets and bond ratings. Senator Bryan then spoke at length in opposition to the broader direction of retirement policy, criticizing the committee process, the fragmentation of retirement legislation, and what he described as incentives for privatization and unfair treatment of new hires. He said he would still vote for the bill because it sends money into the system, but argued that the state should focus retirement benefits on older retirees and avoid further benefit expansions. Senator Sparks responded that the bill was a necessary cash infusion to honor commitments to employees, stabilize the system, and avoid insolvency, and said more PERS legislation would follow.

Transcript Highlights:

• Retirement System.
• in the county employee retirement system.
• in the county employee retirement system.
• <00:41:29.280> And<00:41:29.599> what employee retirement system.
• And what employee retirement system.

Keywords: 958, all

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.

Transcript Highlights:

• Retirement System.
• Retirement System.
• in the county employee retirement system.
• <00:41:25.839> And county employee retirement system.
• And county employee retirement system.

Keywords: Reuploaded to restore a few minutes lost at the end of the meeting Representative Tackett-Lafferty: 00:22 • Line of Duty Disability Benefits Representative Grossberg: 26:32 • Loss of TRS Credit Due to Religious Holiday Observance Representative Blanton: 32:01 • Educational Contracts and Membership Dates in KERS Representative Tipton and Representative Blanton: 40:55 • Apply SB 10 Changes from 2025 to KERS/SPRS Senator Higdon: 46:08 • PPOB Reporting on Line of Duty Benefits • TRS Annual Leave Impact on TRS • PPOB Membership • Use of Sick Leave for Religious Holidays Adjournment: 56:03, 958, all

Summary: The committee heard testimony from Rep. Ashley Tackett Laferty on a bill to extend minimum line-of-duty hazardous duty retirement benefits to certain CERS and KERS non-hazardous members who are injured in the line of duty and cannot return to that work. She used a video and examples from Eastern Kentucky first responders, including a deputy who lost a leg and an emergency management director who lost an eye, to argue that some injured officers and responders fall through the cracks because their employers did not elect hazardous-duty coverage. She said the proposal would provide 25% of pay to the disabled officer, plus 10% for dependent children and minimal health benefits, and noted estimated actuarial costs of about $2.9 million for CERS and $0.542 million for KERS, funded through small employer-rate increases. Members asked how far back the bill would reach, how many people might qualify, and whether the benefit would apply only to active employees or also to past injuries. Laferty said the bill would include a five-year window for recent situations and could potentially cover a total of 3,333 positions statewide that could be certified as hazardous, though benefits would only apply if the person was injured in the line of duty and disabled from returning to that work. Questions also focused on whether a non-hazardous employee could qualify if injured in a hazardous situation; Laferty said yes, if the position could be certified as hazardous, but only for the bill’s minimum benefits. Rep. Josh Calloway and others noted that local governments choose whether to pay the higher hazardous-duty contribution rates, which they said often drives the coverage decision. The committee then heard Rep. Daniel Gberg present a separate bill revising school leave rules so teachers and school employees may use accumulated sick leave to observe religious holidays not on the school calendar, with a required personal statement and advance notice. He said the change would address a longstanding inconsistency for teachers who observe non-Christian holidays and currently may have to choose between unpaid leave or improperly using sick days, and he said prior concerns about retirement service credit and maternity leave were reduced by other policy changes. The discussion ended without a vote, with members indicating they had the relevant materials and that the bill would be revisited later.

Transcript Highlights:

• Our members are the directors of roughly 90 state retirement systems.
• Our members are the directors of State retirement systems.
• Oklahoma Public Employee Retirement System.
• ' retirement system.
• or government employees who have retired.

Transcript Highlights:

• Several retirement systems have an ad hoc COLA.
• What that costs the retirement system.
• in the financial impact on the retirement system.
• sustainability of the retirement system and the quality of life for employees.
• These assumptions about our retirement systems do vary pretty significantly among retirement systems

Transcript Highlights:

• I'm having 17% of my payroll go to the retirement system, but only 2% of that 17, if it's a new employee
• And if I'm an employee looking at this new system, my employer's contribution to my retirement is 2%.
• system, I'm no longer paying any money into the retirement system, but those same employees are still
• But you're stating for the record, the legislature created the retirement system for our employees.
• My mom's retired, hers employee.

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

Summary: The committee heard an update from PERS Executive Director Higgins, who reported that the system has about $38 billion in assets, earned roughly 11.7% last fiscal year, and is about 57% funded. He thanked lawmakers for a newly passed $1 billion funding bill and emphasized that funding the existing system remains the top priority. Higgins also noted that the board’s actuarially recommended contribution is about 26% of payroll, while the system is currently receiving about 18.4%, and said PERS will return later in session with a few requested bills. Higgins addressed several policy topics under discussion this session, including return-to-work rules, first responders, and Tier 5. He said return-to-work changes are possible if the law is changed and funding implications are addressed. For first responders, he said any special treatment should be done within PERS rather than by creating a separate system, with the affected group and parameters clearly defined and fully funded. He also said the new Tier 5 hybrid plan is being implemented on track for March 1 and is projected to improve the system’s long-term financial position by reducing future liabilities and helping pay down the unfunded liability. Members then questioned Higgins about the system’s funding policy, the 30-year closed amortization period used in the ADC calculation, and whether that approach should be revisited in light of recent funding actions and changes in assumptions. Higgins said the board reviews the policy annually, that the closed amortization approach was chosen to better pay down the unfunded liability, and that the annual valuation and experience studies already incorporate recent funding changes, Tier 5, and the phased employer-rate increases. He acknowledged that a significant new infusion of funding could justify reviewing the amortization period, but cautioned against changing it too often because it could undermine progress toward paying down the unfunded liability.

Transcript Highlights:

• If you will recall in 2022, we gave uh pay raises to state employees that under the retirement system
• the system the retirement the uh the the system the retirement system<00:03:47.680> declared<
• So any cost to the retirement system would be offset.
• maintain the fiscal integrity of the retirement system.
• workforce and the retirement system. workforce and the retirement system.

Keywords: Consideration of HB 220 00:02:49 Consideration of HB 467 00:09:50 Consideration of HB 516 00:19:50 Consideration of HB 589 00:27:16, 958, all

Summary: The House State Government Committee met with a quorum and considered four bills. House Bill 220, sponsored by Rep. John Blandon, addressed pension spiking for Kentucky Public Pension Authority systems by extending the effective date back to July 1, 2022. Blandon explained it was intended to correct a gap left by last year’s legislation affecting retirees who received across-the-board raises during the court period. A retired Kentucky State Police captain testified in favor but asked that the retroactive date be moved back to 2021. Members asked about fiscal impact, and Blandon said the bill would have only a very small percentage impact on CERS. The committee approved HB 220 unanimously, 17-0, with favorable expression. House Bill 467, sponsored by Rep. DJ Johnson, dealt with the disposal of surplus or underutilized state-owned real property. A committee substitute was adopted first. Johnson said the bill would let local governments and private citizens identify abandoned or dormant state property earlier in the process, while preserving existing fair-market-value disposal procedures. Committee members clarified that the bill concerns real property, not personal property, and asked about pricing and the current disposition process. Johnson and others explained that the bill would not change fair-market-value requirements but would move local involvement to the front end. The committee approved HB 467 as amended by the substitute, 17-0. House Bill 516, sponsored by Rep. Chris Lewis, would allow probationary police officers and firefighters in certain retirement systems to purchase service credit for up to 12 months of probationary employment and would extend line-of-duty death and disability coverage to probationary employees. Lewis said the bill was developed with the FOP, Professional Firefighters, and input from the Kentucky League of Cities, and that any retirement cost would be offset because both employee and employer contributions would be paid. Committee members confirmed the bill had been heard in PPOB and discussed the cost structure and the six-month window for purchasing service credit. The committee passed HB 516 favorably, 18-0. House Bill 589, sponsored by Rep. Stephanie Deetsz, created a framework for cities and chapter 75 fire districts to rehire retired firefighters under strict conditions, similar to existing rules for retired police officers. A committee substitute was adopted that required minimum employer retirement contributions, required a CPAT retest after a one-year separation, and expanded eligibility to chapter 75 fire districts. Deetsz said the bill was aimed at staffing shortages and preserving experienced personnel while protecting the retirement system. A city official and a Kentucky League of Cities representative testified in support, describing labor shortages and the value of bringing back experienced firefighters to mentor younger staff. The committee approved HB 589 as amended by the substitute, 18-0, and then adjourned.

Transcript Highlights:

• Teachers Retirement System. Teachers Retirement System.
• Teachers Retirement System. Teachers Retirement System.
• We had a member who had an earlier entry date with the County Employees Retirement System, CERS.
• date with the County Employees date with the County Employees Retirement<01:30:55.520> System
• Retirement System, CERS. Retirement System, CERS.

Keywords: Meeting Start: 00:00:00 Attendance Roll Call: 00:00:12 Approval of Minutes: 00:01:34 Actuarial Valuation Update – KPPA: 00:02:10 Actuarial Valuation Update – TRS: 00:25:32, 958, all

Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.

Transcript Highlights:

• ' Retirement Law, which is PERS, are also adopted in the County Employees Retirement Law where appropriate
• ' Retirement Law and the County Employees' Retirement Law.
• of a secure retirement through the county retirement system or CalPERS, and some do not, and we think
• This system is not equitable, and it denies many employees a fair hearing.
• This system is not equitable, and it denies many employees a fair hearing.

Summary: The Assembly Committee on Public Employment and Retirement heard several retirement and school employment measures. SB 301 by Sen. Grayson would prevent CERL-covered cities and districts from amending retirement contracts to exclude certain employee groups, closing a loophole similar to one previously addressed for CalPERS. The bill was supported by California Professional Firefighters and received no opposition. SB 443 by Sen. Rubio would clarify that employees transferring into a joint powers authority can retain CalPERS classic status even when the JPA expands later; the city of La Verne, a flood management agency, and AFSCME supported the bill, and it also drew no opposition. Both bills were moved out of committee on unanimous votes and sent to Appropriations, with the consent calendar items SB 521, SB 581, and SB 853 also approved. The committee then heard SB 494 by Sen. Cortese, which would give classified school employees the right to have disciplinary appeals heard by an administrative law judge rather than by the school board. Supporters, including CSEA, AFSCME, and CFT, argued the bill would create parity with teachers and community college faculty and provide a fairer appeal process. Opponents, including the California School Boards Association, county superintendents, school business officials, and community college groups, argued it would remove local control, impose a one-size-fits-all process, and shift costs to districts. The bill was passed out of committee and referred to the Committee on Higher Education. The committee also considered SJR 2 by Sen. Cortese, a resolution urging Congress and the President to enact federal protections for classified school employees, including better wages, benefits, safety, and workplace rights. Support came from CFT, CSEA, and other labor groups, with no opposition. The resolution was adopted and moved forward. At the end of the hearing, the committee reopened the roll to add votes, and all listed measures ultimately passed unanimously or near-unanimously before the meeting adjourned.

Transcript Highlights:

• Next we have the Employees Retirement System, the LBB presentation on budget, John Posey, and the agency
• I'll be discussing recommendations for the Employees Retirement System of Texas, or ERS, but...
• I'll be discussing recommendations for the Employees Retirement System of Texas, known as ERS.
• Retirement System of Texas.
• I was encouraged to run for the employees, for the Board of Trustees for the Employees Retirement System

Summary: The Senate Finance Committee heard budget presentations for the Texas Historical Commission, the Pension Review Board, the Employees Retirement System (ERS), Social Security and benefit replacement pay, the Texas Emergency Services Retirement System (TESSRS), and the Cancer Prevention and Research Institute of Texas (CPRIT). The Legislative Budget Board outlined recommendations and major changes for each agency, including reductions tied to one-time projects at the Historical Commission, continued funding for courthouse grants, heritage trails, and Holocaust/genocide education, as well as new or modified riders and capital items. For the pension-related items, LBB described funding changes for PRB, ERS, Social Security, and TESSRS, including ERS health plan cost growth driven largely by pharmacy costs, the status of pension funding reforms, and TESSRS’s request for additional state support to address its unfunded liability and staffing needs. Members asked extensive questions about the Historical Commission’s one-time funding, unexpended balance authority, courthouse preservation, the Presidio La Bahia and National Museum of the Pacific War projects, and coordination of Texas history messaging across sites such as the Alamo, San Jacinto, Washington on the Brazos, and other heritage locations. The Historical Commission chair emphasized heritage tourism, economic development, and the need for continued investment in historic sites, staffing, IT modernization, and vehicles. On the pension items, senators discussed PRB oversight of local systems, including the Dallas police and fire pension situation, and ERS investment returns, benchmark comparisons, and rising health costs. ERS officials said the plan remains well funded overall, noted a 2021 cash balance reform and a planned supplemental legacy payment, and explained that GLP-1 drugs such as Ozempic and Mounjaro are a major driver of pharmacy spending; they also said the agency is working with the Texas Pharmacy Initiative and that rebates are contractually returned to ERS. For TESSRS, LBB and agency staff said the system serves volunteer and part-paid emergency personnel, is facing an infinite amortization period, and is requesting additional appropriations, staffing, and IT funding, along with a statutory change to allow an actuarially determined state contribution. The agency said it may otherwise need to cut benefits for volunteer firefighters. For CPRIT, LBB reported about $600 million in recommended funding for the biennium and a 10-FTE increase, while the agency described its $6 billion voter-approved program, $3.75 billion in grants awarded to date, and $10.4 million in revenue sharing since 2011. CPRIT’s only exceptional item was a request for a 10% salary increase for two exempt positions. No committee votes or formal actions were taken in the transcript.

Transcript Highlights:

• Next we have the Employees Retirement System, the LBB presentation on budget, John Posey, and the agency
• I'll be discussing recommendations for the Employees Retirement System of Texas, or ERS, but...
• I'll be discussing recommendations for the Employees Retirement System of Texas, or ERS, but...
• I'll be discussing recommendations for the Employees Retirement System of Texas, known as ERS.
• I was encouraged to run for the Employees Retirement System Board of Trustees.

Bills: SB 1

Keywords: campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards

Summary: The committee heard budget presentations from the Legislative Budget Board and agency officials on several agencies, starting with the Texas Historical Commission. LBB described a large biennial reduction driven mainly by the removal of one-time funding and discussed capital projects, rider changes, and exceptional items including Presidio La Bahia and the National Museum of the Pacific War. Senators asked about heritage trails, courthouse grants, unexpended balance authority, and the status of historical-site funding. Historical Commission leadership emphasized preservation, courthouse restoration, heritage tourism, coordination with the Alamo and other Texas Revolution sites, and requested additional IT, staffing, and vehicle funding. No votes were taken. The committee then reviewed the Pension Review Board and the Employees Retirement System. The Pension Review Board’s budget was largely unchanged aside from IT maintenance and salary adjustments, with an exceptional item for additional IT enhancements. Members discussed the Dallas Police and Fire Pension System’s funding dispute and the need for a workable restoration plan. ERS presented a much larger budget, including funding for the retirement system, the group benefits plan, and the legacy payment intended to reduce unfunded liability. Senators focused heavily on pension investment returns, benchmark comparisons, and rising health-care costs, especially pharmacy spending driven by GLP-1 drugs; ERS said the plan covers about 540,000 lives and that premiums would rise 8% while benefits remain unchanged. ERS also said it had no exceptional items, and committee members requested more detailed benchmark information. The committee also heard from the Texas Emergency Services Retirement System and the Cancer Prevention and Research Institute of Texas. TESSORS reported an unfunded liability, an infinite amortization period, and requested additional state support, staffing, and IT funding, including a statutory change to allow a higher contribution level; the agency warned that without more funding it may have to cut benefits. CEPRIT’s presentation covered its bond-funded cancer research and prevention portfolio, revenue-sharing from funded projects, and a request to increase salary limits for its CEO and chief scientific officer. Senators questioned CEPRIT’s accomplishments and return on investment, while CEPRIT cited screening, prevention, and research outcomes, including tens of thousands of detected cancers and precursors and hundreds of thousands of first-time screenings. The meeting ended after these presentations and questions, with no recorded committee action or vote.

Transcript Highlights:

• Next, we have the Employee Retirement System.
• John Posey: I'll be discussing recommendations for the Employee Retirement System of Texas, known as
• Retirement System of Texas.
• Retirement System.
• I was encouraged to run for the Board of Trustees for the Employees Retirement System.

Bills: SB1, SB 1

Keywords: appropriations, budget, state funding, education, healthcare, infrastructure, campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards, 1185, senate, all

Transcript Highlights:

• I'm the executive director of the Minnesota State Retirement System.
• So the top line is our general employees retirement plan, 98.4%.
• <00:20:11.760> And Minnesota State Retirement System.
• And Minnesota State Retirement System.
• So first is our general employees retirement plan.

Keywords: 1187, senate, all

Transcript Highlights:

• So, I'm going to be discussing recommendations for the Employees Retirement System of Texas, better known
• First thing is, the Employees Retirement System itself, their bullets, their list are assembled.
• I'm the Executive Director for the Employee Retirement System of Texas and Porter.
• And the largest fund of those, the employee's retirement system, which has the majority of state employees
• We desperately need. a COLA that is recurring for your employees, your employees. retired employees.

Keywords: 1184, house, all

Transcript Highlights:

• Retirement System.
• Thank you. ...retirement programs of state employees or employees of any political subdivision, or health
• Retirement System.
• 64 related to retirement benefits for public safety employees.
• system and the PERS retirement system.

Summary: The Employee Benefits Committee met to hear presentations on state employee health insurance, compensation, leave policies, labor market conditions, and prevailing wage issues, then later took up committee rules and bill-draft jurisdiction. PERS reviewed the history and structure of the state health plan, noting the state has paid the full family premium since 1979, described cost-control and benefit-enhancement changes over time, and explained current plan options, wellness incentives, employer wellness discounts, and the upcoming bid process for the 2027-29 contract. HRMS then presented compensation comparisons showing state classified pay generally trails private and regional markets, with larger gaps at higher-level jobs, and reviewed benefits and leave policies, including the new enhanced annual leave and new-hire leave, the state’s unpaid family leave structure, and varying tuition reimbursement practices. Job Service reported on labor force trends, low unemployment, high labor force participation, job openings, and wage growth, and OMB said there are no state prevailing-wage requirements beyond federal Davis-Bacon rules for federally funded projects. The committee then considered a proposed amendment to Joint Rule 211 to better align the health insurance mandate review process with recent statutory changes. Members discussed how the rule should reference both the committee’s required actuarial reports and the Legislative Council cost-benefit analysis, and the amendment was adopted on a roll call vote. The committee also discussed how its jurisdiction decisions affect whether a bill draft receives actuarial analysis, with staff explaining that a decision not to take jurisdiction means the bill is not treated as impacting the relevant retirement or health plans for purposes of that analysis. After that, the committee began reviewing bill drafts for jurisdiction. The first draft, bill draft 33, would automatically renew pre-tax elections for dental and vision coverage during open enrollment instead of requiring annual re-election. Members debated whether it had any actuarial impact, noting the state does not pay those premiums directly, and the discussion was still underway when the transcript ended.