Video & Transcript : 'retirement contributions' :
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WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 16th, 2026
Select Committee on Pension Policy
Transcript Highlights:
- because members who transfer tend to be more established in their career, more likely to receive a retirement
- because members who transfer tend to be more established in their career, more likely to receive a retirement
- Can you get copies to the representatives of the retired members in the audience?
- That's what this is about, so that we've generally had great involvement from our retired teachers and
- our retired state employees on this issue, and this would give them some assurance that this issue is
Summary:
The executive committee approved the May minutes by roll call vote, then received an actuarial update from Sarah Baker of the State Actuary’s Office. Baker explained the office’s annual work, including the DRS pension actuarial evaluation, support for state financial reporting, cash flow analysis, a six-year pension contribution outlook, interim support for GIT and WAL CARES, and an upcoming actuarial evaluation of the volunteer firefighters pension plan. She also responded to questions about bills allowing members to transfer into PERS, noting that such transfers have historically increased PERS costs and that any added cost would be borne by PERS members and employers depending on bill structure and affected demographics.
Kate Adams of the Attorney General’s office reported no new developments in the cases the committee is monitoring. She said the Dawson case is still in its early stages, with a judge assigned and a discovery plan due at the end of July. The committee asked for continued updates on that litigation.
The committee then discussed interim work planning, focusing first on animal control officers’ eligibility for PERS and asking staff to continue researching definitions, comparable treatment in nearby states, and the cost and service-credit implications for affected employees. Members also discussed Plan 3 issues, including comparisons of Plan 2 and Plan 3 membership and data, and possible future briefing topics. The largest discussion centered on Plan 1 COLAs: members and retiree representatives debated whether to pursue a permanent COLA or an ad hoc COLA, and whether budget language should require future budget writers to consider a COLA. Retiree groups said they preferred a permanent COLA but were open to further discussion; staff was asked to continue work on possible language and policy options.
The committee reviewed correspondence on four topics: Plan 1 COLA requests, a request to study LEOFF 2-style medical reimbursements for Washington State Patrol survivors, and a request to allow certain members to change survivor option elections after the federal Social Security Fairness Act. The committee agreed to bring the State Patrol medical reimbursement issue and the Social Security Fairness Act issue back for July, with staff to gather more information and provide an informational briefing. The July agenda was approved and includes the OSA annual update, the LEOFF 2 Board annual update, a PERS/TRS Plan 1 ad hoc COLA item, and the two survivor-related topics.
WA
Washington 2025-2026 Regular Session
Senate Business, Financial Services & Trade Dec 4th, 2025
Transcript Highlights:
- But, I mean, people are basically moving money out of traditional finance from bank accounts, retirement
- So he was doing a lot of presentations to our neighborhood councils, retirement homes, trying to really
- And if you retire this in year one, your settlement is this much; year two is this much.
- I appreciate all three of your presentations and all the wonderful work you do and how you contribute
- Nearly 5,300 space employees contribute $731 million in annual economic impact in Redmond.
Summary:
The committee first heard a work session on cryptocurrency kiosks from the Department of Financial Institutions and Spokane City Councilmember Paul Dillon. DFI described crypto kiosks as licensed money transmission terminals that allow cash purchases of virtual currency, and said the main concern is fraud: scammers often pressure victims, especially older adults, to deposit cash into kiosks and send it to wallets controlled by organized crime. DFI cited a sharp increase in kiosk volume, nationwide fraud complaints and losses, and said Washington currently has licensing and disclosure rules but lacks transaction and fee limits. The department said it is seeking stronger disclosures, a $1,000 daily transaction limit, and a fee cap. Spokane described its unanimous ordinance banning new kiosks and removing existing ones after local scam reports, and members asked about how the machines work, whether the fraud is in the hardware or the transaction, and whether stronger warnings or screening could help.
The committee then reviewed home equity sharing agreements, or CHISAs, based on a report by Mariana Amaram and testimony from DFI and industry representatives. The report found that CHISAs provide homeowners a lump sum in exchange for a share of future home value or appreciation, with no monthly payments, but that consumers often struggle to understand the products and settlement calculations. The report said the market has grown quickly in Washington, that costs can be hard to predict, and that early uncapped contracts could produce very high settlement amounts, especially during periods of rising home prices. DFI said it views these products as mortgage loans and is moving forward with rulemaking, including counseling and clearer disclosures, while industry witnesses said the products are equity-based rather than debt-based and asked for tailored regulation. Members discussed the need for better consumer education, clearer payoff schedules, and whether the products should be treated as mortgages or a separate category.
The final panel focused on Washington’s space economy, with presentations from Amazon Leo, Blue Origin, Stoke Space, Space Northwest, and Green River College. Speakers highlighted major in-state investments in satellite manufacturing, launch systems, and workforce training, including Amazon Leo’s Redmond and Kirkland facilities, Blue Origin’s Kent headquarters, and Stoke Space’s Kent manufacturing and Moses Lake test site. Space Northwest presented data showing the sector’s growing economic footprint, high-wage jobs, and regional clusters in Kent and Redmond, and urged more workforce programs, incentives, infrastructure support, and a state space commission. The companies emphasized local hiring, apprenticeship and certification programs, and the role of Washington’s aerospace supply chain in supporting the broader space industry. No votes were taken during the transcript excerpt.
FL
Florida 2025 Regular Session
Appropriations Committee on Higher Education Mar 11th, 2025
Transcript Highlights:
- So for an employee who was making $50,000, we would need to set aside around 17,500 for the retirement
- contributions, health insurance premiums, FICA, et cetera.
- And obviously we contribute fruit of our employees as well.
- Whether be retirement, health insurance, those types of things.
- But as an example, changes in employees benefits health care costs, retirement contributions across the
KY
Kentucky 2026 Regular Session
Senate Legislative Session Day 26 (2-12-26)
Kentucky Senate Floor Meeting
Transcript Highlights:
- Upon his retirement from service, Joseph McFarland returned to his beloved Presbyterian church, where
- But the great thing about him is that he retired from the Army after having been deployed to different
- But the great thing about him is that he But the great thing about him is that he retired<01:10:30.080
- from the army after having been retired from the army after having been deployed<01:10:33.679><c> to
- </c><01:10:42.400><c> and</c> at the Prescidio where he retired. and at the Prescidio where he retired
AZ
Transcript Highlights:
- Members, I'm thrilled today to have my family here to celebrate my retirement.
- In May 1999, he retired after 38 years of exemplary service to our state and nation.
- He was well known and respected in the local racing community for his contributions and as a legacy member
- And whereas... ...motorist awareness all contribute to reducing preventable crashes and injuries.
- And whereas Route 66 contributes hundreds of millions of dollars annually to Arizona's economy through
AR
Arkansas 2026 Regular Session
ARKANSAS LEGISLATIVE COUNCIL (ALC) Jun 19th, 2026
ARKANSAS LEGISLATIVE COUNCIL (ALC)
Transcript Highlights:
- Whereas Lori McDonald, Chief of Staff, the Department of Human Services, will retire June 30, 2026, after
- recognizes and honors Lori McDonald for her service to the State of Arkansas upon the occasion of her retirement
- That is Arkansas Public Employees Retirement System. It's a request to review investment summaries.
- All right, members, item 4, Arkansas Teacher Retirement System.
- All right, members, item 4, Arkansas Teacher Retirement System.
Summary:
The meeting began with a quorum call, prayer, and approval of the previous minutes. Members then adopted a resolution honoring Lori McDonald of the Department of Human Services for nearly 28 years of state service, with remarks praising her legislative work, constituent services, leadership, and emergency response roles. McDonald thanked the committee, and the Senate also presented her with a citation, flag, and commemorative coin.
The committee received the May 2026 revenue report, which showed gross adjusted collections of $7.76 billion year-to-date, up 4.4% from the prior year, and a projected surplus of $585.8 million. The executive subcommittee report was adopted, covering emergency rules for DHS and the Department of Education, school district waiver requests, committee fund allocations, cancellation of the July ALC meeting, and authorization for subcommittees to meet in July on urgent matters. The administrative rules report was also adopted after members noted that most rules were approved, with a few pulled by agencies or held.
Members then heard a lengthy exchange on the Arkansas Education Department’s ClassWallet contract and delays in expense review for education savings account payments. Department officials said they were meeting regularly with ClassWallet, enforcing contract standards, keeping some reviews in-house, and adding staff and technology improvements to speed processing while maintaining oversight. The committee also adopted reports from Game and Fish and State Police, Hospital/Medicaid/Developmental Disabilities, Lottery Oversight, Occupational Licensing Review, Peer Review, Review, State Insurance Programs Oversight, and Personnel, including a Department of Commerce reallocation tied to a broader shared-services realignment.
Under review of communications, members filed several retirement system investment items as reviewed, approved rural community grant funding, gave favorable advice for state park additions, approved special maintenance funding for state parks, and filed Office of State Technology service-rate changes as reviewed. The meeting concluded with no new business and adjournment.
CA
California 2025-2026 Regular Session
Assembly Floor Session Jan 27th, 2025
California House Floor Meeting
Transcript Highlights:
- Backus has recently retired after a long career with Los Angeles Care. Under Mr.
- Today, we honor John Bacchus for his visionary leadership, unwavering dedication, and impactful contribution
- Leroy Morishita on his retirement. Thank you, Dr.
- Congratulations and best wishes in your retirement.
- He even came. out of retirement to serve as an interim president of Cal State LA, which has educated
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Financial Services Jun 21st, 2026 at 11:00 am
Joint Committee on Financial Services
Transcript Highlights:
- Insurers also contribute nearly $1 billion in annual tax revenues to the state budget.
- The following are just some examples of the incredible contributions our member companies make locally
- Across the country, an estimated 57 million private sector workers lack access to retirement savings
- 13% of Americans actually save for retirement outside of work.
- And third, over the 20-year period ending in 2040, insufficient retirement savings will result in an
Summary:
The committee held an informational opening hearing for the Financial Services Committee, with Chair Murphy and Senator Feeney introducing new and returning members and explaining that no bills were being heard that day beyond brief introductory testimony. Commissioner of Banks Mary Gallagher thanked the committee for last session’s money transmission modernization law, and several members echoed appreciation for her office’s work. The hearing then featured a long series of stakeholder introductions and overviews of their priorities for the session.
Testimony covered a wide range of financial, insurance, housing, health care, and consumer issues. Banking and mortgage groups discussed housing affordability, foreclosure delinquencies, flood insurance, regulatory changes, and the impact of federal policy shifts. Insurance representatives raised concerns about auto and homeowners market pressures, labor rates, tariffs, rebates, e-titling, third-party litigation funding, and public adjuster restrictions. Consumer and advocacy groups highlighted debt collection reform, earned wage access, retirement savings access, public banking, and consumer protections in financial services. Several speakers also emphasized the need for committee expertise and offered themselves as resources for future bills.
Health-related organizations focused on insurance mandates, prior authorization, behavioral health access, pharmacy benefit manager reform, community health center funding, maternal health and midwifery reimbursement, and anesthesia reimbursement parity. Other groups, including credit unions, retailers, auto dealers, dental and medical associations, and behavioral health providers, described their roles in the Commonwealth and previewed legislation or policy areas they expect to follow this session. No votes were taken; the meeting was informational and ended after testimony from the sign-up list and a few late additions.
NH
New Hampshire 2025 Regular Session
Committee of Conference on HB 1, HB 2 (06/13/2025)
Transcript Highlights:
- So if they<03:29:36.319><c> are</c><03:29:36.560><c> retiring</c> they are retiring they are retiring
- </c> retire at age 45 with 2 and a.5%. retire at age 45 with 2 and a.5%.
- </c> for when retirements typically occur. for when retirements typically occur.
- </c> retirement system back in 2011? retirement system back in 2011?
- retire? retire? Uh,<04:01:46.960><c> no.
Summary:
The Committee of Conference on HB 1 and HB 2 met to review revenue estimates and begin working through the HB 1 detail change sheet. New Hampshire Lottery Director Charlie McIntyre reported stronger-than-expected lottery performance, raising the current-year return estimate to $27 million and the next biennium estimate to $200 million, with the increase attributed to improved scratch ticket sales and sports betting not hurting revenue as much as expected. Members questioned the assumptions behind the higher estimates, including the impact of $50 scratch tickets and whether the figures accounted for future conversion from historical horse racing (HHR) machines to video lottery terminals (VLTs). McIntyre and committee members discussed machine counts, per-day revenue assumptions, and the likelihood that VLT conversion would increase revenues over time, though the timing and pace of conversion remained an open question.
The committee also discussed several gaming-related policy items in HB 2, including changes to kino hours and local option games of chance, and noted that the Senate and House differed on how gaming revenues would be allocated between charities, education, and general funds. Members emphasized that revenue projections should remain conservative because operators, not the state, would control the pace of machine conversion. Representative Sweeney noted that operators could earn more per machine under the VLT model, and McIntyre said the new facilities and expansions were largely concentrated near the Massachusetts border.
The committee then moved to the HB 1 detail change sheet. It agreed to Senate position on the Department of Safety’s road toll bureau and international registration program changes, which were described as a zero-cost realignment of positions, and held the Department of Corrections section for later discussion. On the judicial side, members approved a technical footnote fix, but held a new contract counsel item for involuntary mental health admissions and deferred discussion of the public defender program increase. The committee also noted no change for the PE development authority, moved safety rest area funding from HB 2 into HB 1 with no additional cost, and flagged the tourism development fund and other judicial items as issues that may depend on overall available revenue.
NH
New Hampshire 2025 Regular Session
House Finance Division I (03/11/2025)
Transcript Highlights:
- towards it I didn't company contributes towards it I didn't I<00:22:34.120><c> didn't</c><00:22:34.320
- </c> I didn't hear the last the contributes I didn't hear the last the contributes toward<00:22:36.600
- Okay, we can invite retirement in Friday as well, if you would like.
- </c><01:23:12.320><c> in</c> Friday okay we can invite retirement in Friday okay we can invite retirement
- </c><01:23:27.280><c> system</c> when we talked to the retirement system when we talked to the retirement
Summary:
The committee first heard from the Department of Labor on several House Bill 2 sections. Members discussed raising the annual elevator certificate fee, which had been $50 since at least fiscal year 2014; the commissioner said the Inspection Division generates more revenue than its costs, and members agreed to amend the fee to $75 and later voted unanimously to accept Section 137. The department also explained a proposed change to civil penalty/warning language in Section 139 to align enforcement across labor laws; that section was accepted unanimously. The commissioner then gave a detailed overview of the second injury fund, describing how it is financed by assessments on insurance carriers, how claims are reviewed for reimbursement, and how the fund is intended to reimburse certain workers’ compensation costs. Members questioned whether the program still serves its original purpose, whether it is revenue-neutral, and whether it should be sunset; the department said the fund is a mixed bag for the state and industry, but no sunset language was adopted. Sections 140 and 141 were then accepted unanimously.
The committee next heard from the Judicial Council on Sections 125 through 127. The witness said the changes would streamline payment for indigent defense services other than counsel, reduce the number of bills requiring judge review, and expand the council’s ability to contract with providers for services such as translation and evaluations. He also explained a proposed fail-safe allowing the executive director to decline to process questionable invoices and send them to a judge instead. Members generally supported the streamlining, and Sections 125 through 127 were accepted unanimously.
Toward the end of the discussion, members asked about the cost impact of changing the misdemeanor/felony threshold from $1,000 to a higher amount. The Judicial Council said felony cases are significantly more expensive than misdemeanors because they involve more hearings, more discovery, and more attorney time, with assigned felony cases costing several times more on average. No action was taken on that question in the excerpt.
MN
Minnesota 2025-2026 Regular Session
House Workforce, Labor, and Economic Development Finance and Policy Committee 2/19/25
Workforce, Labor, and Economic Development Finance and Policy
Transcript Highlights:
- From the first pilot that we did, uh, we were there were retired members of that class that were not
- </c><00:03:10.400><c> members</c><00:03:10.760><c> of</c> we were there were uh retired members of we
- I know Chris himself is a retired officer.
- Two of those that did retire did so because of age, not because of other job-related stressors.
- Two of those that did retire did so because of age, not because of other job-related stressors.
FL
Transcript Highlights:
- As a retired naval officer who spent most of my career at sea, it takes a lot to make this sailor blush
- As a retired naval officer who spent most of my career at sea, support of this legislation.
- As a retired naval officer who spent most of my career at sea, it takes a lot to make this sailor blush
- In the strike-all, the amendment adds language to provide increased penalties for contributing to the
- And finally, it proposes increases to the reimbursement allocation under the care for retired police
Summary:
The committee first considered the appointment of Michelle Whitworth to the Florida Commission on Offender Review. Whitworth described her 30 years of criminal justice experience, and the committee voted to recommend her confirmation favorably. The committee then took up SB 1692 on material harmful to minors, adopting a delete-all amendment that shifted the focus to K-12 instructional materials and objections by parents or residents. Supporters argued it would create clearer standards and protect children from pornographic content, while opponents warned it would worsen book bans and remove consideration of literary, artistic, political, or scientific value. After extensive debate and public testimony, the bill as amended was reported favorably.
The committee also reported favorably on several criminal justice and public safety bills. SB 1422 increased penalties for certain drone-related offenses near critical infrastructure and for weaponized drones; SB 1360 clarified xylazine’s veterinary use while creating stronger trafficking penalties; and SB 1732 increased penalties for animal cruelty involving minors and for contributing to a minor’s delinquency. SB 776 added an aggravating factor for the assassination or attempted assassination of a head of state, and SB 984 added aggravating factors for capital felonies committed where people are gathered for religious, school, or government activities. SB 1640 made domestic violence lethality assessment forms confidential, and SB 1268 updated FDLE operations and increased reimbursement for retired police dogs. All of these bills were reported favorably after brief debate and mostly supportive testimony.
Later, the committee approved SB 1084 on sexual cyber harassment, with a strike-all amendment addressing digitally forged intimate images and extending prosecution time limits. SB 1654 updated sexual offender and predator registration rules, including definitions of residence and online reporting for in-state travel, though one witness raised concerns about vague language and employer privacy. SB 1774 created a rebuttable presumption in certain second-degree murder cases when the victim had a controlled substance in their system, drawing criticism that it could devalue victims who used drugs. Finally, SB 1838 strengthened protections for court officials against tampering, harassment, and retaliation, with an amendment adding magistrates, hearing officers, and related staff; defense attorneys warned the tampering language could inadvertently reach zealous advocacy. Each of these measures was ultimately reported favorably, and the meeting ended with adjournment.
CA
California 2025-2026 Regular Session
Senate Floor Session Feb 2nd, 2026
California Senate Floor Meeting
Transcript Highlights:
- you had the Governor of the State of California that went and honored this man's life and what he contributed
- He was voted Professor of the Year by the school’s students in the year before he retired.
- He was voted Professor of the Year by the school’s students in the year before he retired.
- wonder that he was voted Professor of the Year by the school’s students in the year before his retirement
- Jeb founded the Pleasanton Weekly, and even though he retired as editor-in-chief in 2017, he continued
Summary:
The Senate convened with a quorum, offered prayer and the Pledge of Allegiance, and began with a floor introduction honoring guests from California Polytechnic State University, San Luis Obispo, including President Jeffrey Armstrong, students, and student leaders. Senator Laird highlighted Cal Poly’s 125th anniversary, its statewide impact, and student achievements, including Rose Parade and design-build competition awards.
The body then took up two Senate concurrent resolutions. SCR 111 by Senator Niello commemorated the 125th anniversary of the certified public accountant profession in California and recognized the California Board of Accountancy and the California Society of CPAs; it passed on a roll call and was later adopted 38-0 after the call was lifted. SCR 109 by Senator Grove proclaimed January 2026 as National Mentoring Month and recognized Big Brothers Big Sisters of Central California for its long-standing youth mentorship work; it also passed on a roll call and was adopted 39-0 after the call was lifted. The Senate also concurred in Assembly amendments to SB 25 by Senator Umberg, which streamlines California’s merger process and aligns it with the federal process; the vote was 33-0.
Members then approved a motion by Senator Laird to give second reading and move forward bills reported from the Budget and Fiscal Review Committee on February 4, 2026, despite objections from Senator Niello; the motion passed 29-10. The remainder of the session was devoted to adjourn-in-memory tributes for Congressman Doug LaMalfa, Barry Del Bono, Professor Alan Stewart Hammond, and journalist Jeb Bing, with multiple senators offering personal recollections and condolences to their families and communities. The Senate concluded by announcing the next floor session and recessing until later that day.
CO
Colorado 2026 Regular Session
Colorado House 2026 Legislative Day 024 Feb 6th, 2026
Colorado House Floor Meeting
Transcript Highlights:
- </c> and to celebrate their contributions and to celebrate their contributions through<00:39:51.599><
- </c><00:43:54.079><c> of</c> military service and contributions of military service and contributions
- </c><01:29:42.560><c> and</c> historic ongoing contributions and historic ongoing contributions and affirms
- Thank you. retired it. To my fellow women veterans, retired it.
- </c><01:35:15.199><c> mission,</c> successfully contributed to the mission, successfully contributed
NH
Transcript Highlights:
- </c> So that absolutely could be contributing So that absolutely could be contributing to<00:44:55.359
- ), the retirement system we have.
- to the the 403b, the contributions to the the 403b, the retirement<00:51:16.960><c> system</c><00:51
- </c> not um members of the retirement system. not um members of the retirement system.
- ><c> governor's</c> contributions at the governor's contributions at the governor's recommended<01:02
HI
Transcript Highlights:
- I understand you need a lot more work since you're now retired.
- I understand you need a lot more work since you're now retired.
- I understand you need a lot more work since you're now retired.
- </c><00:03:21.760><c> So,</c> since you're now retired. So, since you're now retired.
- </c> proven his ability to contribute proven his ability to contribute meaningfully<00:09:43.280><c>
Summary:
The committee heard gubernatorial nominations for the Advisory Committee on Pesticides and the Board of Agriculture and Biosecurity. For GM 615, Matthew Liam was nominated to the Advisory Committee on Pesticides. The Department of Agriculture and Biosecurity, CGAPS, and the Hawaii Farm Bureau testified in strong support, citing his landscape industry leadership, pesticide training background, and prior service. Members asked about his experience in Australia and his approach to restricted-use pesticides; he said he avoided using restricted-use pesticides in his landscaping business but applied related safety and recordkeeping practices. Testimony was unanimous in support, with no opposition or comments.
For GM 616, N. Young was nominated to the Board of Agriculture and Biosecurity. Support testimony from the Department of Agriculture and Biosecurity, Hawaii Farm Bureau, and Hawaii Cattlemen's Council highlighted his experience with Lanai agriculture, Sensei, the Food Basket, Pacific Gateway Center, Kamehameha Schools, and institutional purchasing. In response to questions, he discussed balancing public and private funding, the need for adequate capitalization of agricultural projects, and using financial tools to help farmers and accelerate agricultural income streams. He also said the board should focus on making agricultural land productive and strengthening food security. The nomination drew strong support, with no opposition or comments.
For GM 617, Jason Moniz was nominated to the Board of Agriculture and Biosecurity. The Department of Agriculture and Biosecurity, Hawaii Farm Bureau, and Hawaii Cattlemen's Council supported him, emphasizing his decades of veterinary and animal disease control experience, ranching background, and knowledge of biosecurity, leases, and livestock issues. Moniz said his priorities would be preserving agricultural land and water resources, improving biosecurity, supporting farmers and ranchers, and increasing food production in Hawaii. He also said he would be willing to speak up for agriculture and not let the department be sidelined. The nomination received 29 written and oral supports, with no opposition or comments.
HI
Transcript Highlights:
- </c> 847 relating to Hawaii retirement 847 relating to Hawaii retirement savings<00:51:30.280><c> ACT
- I’m Alani Kyoki, Executive Director of the Hawaii Retirement Savings Program.
- Finally, we have HB A47, relating to the Hawaii retirement savings act.
- </c><01:07:10.720><c> savings</c> relating to the Hoy retirement savings relating to the Hoy retirement
- Hawaii retirement savings act and as Hawaii retirement savings act and as such<01:07:48.720><c> I'm</
NH
New Hampshire 2025 Regular Session
House Finance (03/12/2025)
Transcript Highlights:
- When the state reduced its retirement contributions for teachers, police, and firefighters from 35% to
- When the state reduced its retirement contributions for teachers, police, and firefighters from 35% to
- </c><00:34:54.560><c> contributions</c><00:34:55.200><c> for</c> reduced its retirement contributions
- for reduced its retirement contributions for teachers<00:34:55.879><c> police</c><00:34:56.159><c> and
- </c><01:39:37.960><c> just</c><01:39:38.159><c> $</c> state contributed just $ state contributed just
Summary:
The House Finance Committee opened a public hearing on House Bills 1 and 2, which concern the governor’s proposed FY 2026-2027 budget. The chair explained that the committee must fit the budget to House Ways and Means revenue, which is about $800 million below the governor’s estimate in an almost $16 billion budget. He also noted a projected current-budget overspend, the impact of recently passed legislation, possible fee updates, no new tax proposals at that time, and the importance of federal funding and Medicaid stability. Testimony was limited to three minutes, with the chair asking speakers to avoid duplication.
Much of the testimony focused on Medicaid, disability services, and home- and community-based care. Speakers urged the committee to restore or protect funding for transportation, Medicaid, day programs, in-home supports, and behavioral health services. Several individuals and providers described how cuts would affect people with disabilities, medically fragile children, and families who rely on services to remain employed and avoid institutional care. A home care provider argued that a proposed 3% Medicaid cut would increase hospitalizations and costs, while a behavioral health representative asked for sustainable Medicaid rates, uncompensated care support, housing resources, and continued funding for community behavioral health clinics.
Another major topic was the Group II retirement provisions in HB 2 for public safety workers. Representatives from police, fire, corrections, probation/parole, and related associations testified in support, saying prior pension changes hurt recruitment and retention, pushed experienced workers to neighboring states, and should be reversed to restore promised benefits. They argued the provisions would help keep public safety careers viable and honor commitments made to first responders. An executive counselor also warned that when the state shifts costs away from itself, local property taxpayers bear the burden, and she opposed cost shifts such as Medicaid premiums and universal vouchers. A separate speaker urged funding public schools rather than universal vouchers, arguing vouchers can leave other students behind as resources are diverted.
MO
Transcript Highlights:
- You were limited to your teacher retirement, your educator retirement.
- When it talks about a retirement allowance, does that include like IRAs and personal savings?
- Okay, so not just a company's retirement system. No, no. No.
- And then it's in regardless of whether your contributions were pre-tax or post-tax?
- Chairman, it was amended to your bill and your retirement bill. I remember.
Summary:
The Committee on Pensions heard House Bill 1762 and House Bill 2059 together because both addressed the same issue: expanding Missouri’s tax deduction for private pensions. The sponsors explained that current law allows a limited deduction for private pension income only for taxpayers below certain income thresholds, and their bills would double both the deduction amount and the income limits. They said the proposal is intended to make private pension treatment more comparable to public pension treatment and to help retirees, self-employed people, and small business owners who saved through IRAs, SIMPLEs, or SEPs. One sponsor noted the bill was a scaled-back version of a prior proposal that would have fully eliminated the tax, in part to reduce the fiscal impact.
Committee members asked several questions about who would benefit and how the limits work. The sponsors said the deduction would apply only to taxpayers under the income thresholds, would not help higher-income taxpayers, and would not apply to Roth accounts because the plans must be deferred. Members raised concerns about the fiscal note, which was discussed as roughly $135 million to $140 million, and about whether the income test could still allow some relatively wealthy taxpayers to qualify because Missouri adjusted gross income can differ from broader measures of income. The sponsors defended the bill as a fairness issue and noted that similar treatment already exists for public pensions.
No witnesses testified in support, opposition, or for informational purposes. The committee did not take any vote or other action before adjourning.
MO
Transcript Highlights:
- You were limited to your teacher retirement, your educator retirement.
- When it talks about a retirement allowance, does that include like IRAs and personal savings?
- Okay, so not just a company's retirement system? No, no. No.
- And then it's in regardless of whether your contributions were pre-tax or post-tax?
- Chairman, it was amended to your bill and your retirement bill. I remember.