Video & Transcript : 'annuity account' :

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MN

Minnesota 2025-2026 Regular Session

Legislative Commission on Pensions and Retirement - 03/17/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • </c> receiving an annuity but are reemployed. receiving an annuity but are reemployed.
  • Section 6 revises MSRS's annuity application procedures to conform to MSRS's current practices.
  • </c> Section 6 revises MSRS's annuity Section 6 revises MSRS's annuity application<00:40:41.960><c> procedures
  • for Minnesota paid leave will account for Minnesota paid leave will not<00:46:22.000><c> be</c><00:46
  • must be calculated in retirement annuity must be calculated in accordance<01:03:01.480><c> with</c><
TX
Transcript Highlights:
  • These returns are net of our annuity payments. We pay monthly.
  • After I retired in 2002, my annuity was stagnant until this month.
  • On Friday, there will be a $71.24 net increase in my monthly annuity.
  • The last increase to my ERS annuity was a COLA in January of 2002.
  • The COLA grants a 3% annuity increase, but it cannot exceed $100.
Bills: SB 1
Committee: Senate Finance
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.
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Veterans and Federal Affairs Jun 21st, 2026 at 01:00 pm

Joint Committee on Veterans and Federal Affairs

Transcript Highlights:
  • Today's hearing is focused on legislation that relates to tax credits, annuities, and other financial
  • are included in today's hearing agenda. ...Act last session, the Commonwealth increased the annual annuity
  • if they remarried, a truly archaic restriction. ...annuity if they remarried, a truly archaic restriction
  • I wanted to highlight these recent accomplishments on the specific annuity, and I'm grateful for all
  • That also deals with annuities, tax credits, and other financial matters.
Summary: The Joint Committee on Veterans and Federal Affairs held its fifth public hearing of the 2025-2026 session, chaired by Senator John Velis and Representative Joe McGonagle. The chairs said the hearing focused on legislation involving tax credits, annuities, and other financial benefits for veterans, service members, and military families. Senator Velis highlighted recent action on the HERO Act, which increased the annual annuity for 100 percent disabled veterans, Gold Star parents, and Gold Star spouses from $2,000 to $2,500, and noted that legislation to ensure eligibility for Gold Star spouses had been enacted and signed into law, removing a remarriage restriction on receiving the annuity. No members of the public had pre-registered or appeared to testify in person or virtually on the bills on the agenda. After confirming that no one was present to offer testimony, the committee briefly acknowledged attendance and then moved to adjourn. The motion to adjourn was made, seconded, and approved unanimously.
WA

Washington 2025-2026 Regular Session

House Postsecondary Education & Workforce Jan 27th, 2026 at 01:30 pm

Postsecondary Education & Workforce

Transcript Highlights:
  • that entities receiving workforce education investments funded from the account are held accountable
  • As of June of last year, the GET account was funded at 178%.
  • As of June of last year, the get account was funded at 178%.
  • the funded status of the account remains at or above 120%.
  • Finally, the state financial aid account is an account used to ensure that all appropriations designated
KY
Transcript Highlights:
  • And uh we're still top dog as far as I've been able to discover. account. Um, account.
  • Self-directed brokerage accounts, it was passed last year. That 40,000 account balance.
  • </c> accounts, it was passed last year. accounts, it was passed last year. um<00:08:05.280><c> that</
  • So I um that 40,000 account balance.
  • And I don't see a health reimbursement account. I don't see a health savings account.
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.
TX
Transcript Highlights:
  • This is essential for accountability.
  • This is essential for accountability.
  • After I retired in 2002, my annuity was stagnant until this month.
  • The last increase to my ERS annuity was a COLA in January of 2002.
  • The COLA grants a 3% annuity increase, but it cannot exceed $100.
Bills: SB1 , SB 1
Committee: Senate Finance
MA

Massachusetts 2025-2026 Regular Session

Joint Committee on Ways and Means Jun 21st, 2026 at 11:00 am

Joint Committee on Ways and Means

Transcript Highlights:
  • It's called the annuity.
  • It's called the annuity.
  • Our caseworker account is the lifeblood.
  • So here today, we've opened over 400 ABLE accounts.
  • The amount accounted for in the fiscal year 26 budget is— So you're not accounting for that revenue,
Summary: The hearing opened with remarks from Senate Chair Robyn Kennedy and House Chair Chynah Tyler, who emphasized that the fiscal year 2026 hearing was focused on the Health and Human Services budget, asked members to keep questions budget-related, and noted that no public testimony would be taken. They also highlighted the choice of Doherty Memorial High School as the venue to showcase Worcester’s investment in career and technical education. Committee members then introduced themselves before the first panel, the Executive Office of Veterans Services and the state veterans homes, began testimony. Secretary John Santiago said the governor’s FY26 proposal would support implementation of the HERO Act, which he said is now about 95% implemented, including higher disabled veteran annuities, expanded behavioral health benefits, and other service expansions. He described efforts to reduce veteran homelessness, including nearly $20 million in ARPA-funded housing and outreach initiatives, and said the agency has delivered more than 100,000 supportive services to nearly 8,500 veterans. Leaders from the Chelsea and Holyoke veterans homes reported on staffing, quality measures, electronic medical records, and major construction projects at both facilities, including a new Chelsea campus and the new Holyoke home. Members asked about funding transfers, geographic equity in access to the homes, outreach to women veterans and veterans of color, suicide prevention, Gold Star family support, and the impact of federal uncertainty; Santiago said the homes are now licensed and certified, that the current budget is sufficient, and that the agency is expanding engagement and data collection. The second panel, the Office of the Veteran Advocate, testified that its FY26 request is about $3.3 million, up from the current $2 million, to cover staffing, a larger office, and higher technology costs. Veteran Advocate Bob Notch said the office is a new independent oversight agency created in 2022 to examine systems, coordinate with local veteran service officers, and investigate fatalities or serious harm involving veterans in state care. He said the office’s work depends on research, data, and collaboration with other agencies, and that current funding is only enough for minimum operations. In response to questions, Notch and Deputy Commissioner David O’Callaghan discussed the difficulty of tracking veteran suicides, the need for better data across agencies, and the office’s role as an oversight body rather than a direct service provider. No votes or formal actions were taken during the hearing.
MN

Minnesota 2025-2026 Regular Session

Legislative Commission on Pensions and Retirement - 03/24/26

Minnesota Senate Floor Meeting

Transcript Highlights:
  • </c><00:42:32.280><c> data</c> participant account data participant account data through<00:42:33.800
  • The combined service annuity approach would require someone who has, say, two retirement annuities to
  • begin taking both retirement annuities within 12 months of each other in order to have both annuities
  • </c> and accountability. and accountability.
  • For the past 30... um for an account to assist employees uh um for an account to assist employees uh
OK

Oklahoma 2026 Regular Session

Senate Legislative Session Apr 15th, 2026 at 01:30 pm

Oklahoma Senate Floor Meeting

Transcript Highlights:
  • Oklahoma State University is guided by the values of the cowboy code emphasizing integrity, respect, Accountability
  • by adding a federal layer to this as well, we are choosing to give away tax money without any accountability
WA

Washington 2025-2026 Regular Session

House Appropriations Feb 26th, 2026 at 01:30 pm

Appropriations

Transcript Highlights:
  • account.
  • The Department of Licensing estimates that new revenues to the new motor vehicle arbitration account
  • The fiscal note assumes these costs would come from the opioid settlement account.
  • of the general fund state, and the new account would be used by Ecology to recover their costs.
  • Fund State to the new accounts.
Bills: HB2689 , SB5832 , SB5922 , SB5944 , SB5988 , SB6151
WA

Washington 2025-2026 Regular Session

House State Government & Tribal Relations Feb 3rd, 2026 at 01:30 pm

State Government & Tribal Relations

Transcript Highlights:
  • When we lose the memory of war, we lose accountability for the decisions made and the costs paid by real
  • narrows the consumer utility data that is exempt under the bill to be individual consumer utility account
  • data and removes a language that's... ...consumer utility account data and removes a language that specifies
WA

Washington 2025-2026 Regular Session

House Community Safety Feb 2nd, 2026 at 01:30 pm

Community Safety

Transcript Highlights:
  • The perpetrators of violence are rarely held accountable for the criminal conduct they actually commit
  • a good statement right there because really what this bill is about is prevention as much as accountability
  • good statement right there because really what this bill is about is prevention as much as is accountability
  • ability. right there because really what this bill is about is prevention as much as is accountability
TX

Texas 89th Regular

Intergovernmental Affairs May 13th, 2025

Intergovernmental Affairs

Transcript Highlights:
  • In case it then would go into a suspense account after the process was fully completed.
  • That just halts, so whether it's being held in an account or not, those cities cannot use that money
  • So this means that we would not be able to enforce the code in order to hold them accountable if this
  • And I've always learned such things as accountability.
  • Accountability is the person who commits that crime.
Bills: HB5691 , SB427 , SB2623 , SB2858
KY
Transcript Highlights:
  • </c> our accounting provisions. our accounting provisions.
  • Insurance, annuities, those kind of things even longer.
  • Insurance, annuities, those kind of things even longer.
  • Insurance, annuities, those kind of things even longer.
  • Insurance, annuities, those kind of things even longer.
Summary: The Interim Joint Committee on Families and Children opened its first meeting with roll call and a reminder about the number of children in out-of-home care with active placements, which the chair said was 8,641 as of June 1, 2025. The committee then heard a presentation from the Center for Courageous Kids, a donor-funded camp in Scottville that serves children with lifelong illnesses and disabilities at no charge. Representatives described the camp’s year-round family retreats and summer sessions, its medically safe and inclusive model, and examples of campers gaining confidence and independence. They said the camp has served more than 43,000 campers from Kentucky, other states, and other countries, and that it is seeking legislative support for two capital projects: a new art barn and a medical lodge, with a combined request of $3.2 million. Members praised the program and asked about awareness, staffing, volunteer recruitment, accreditation, and how the projects would expand capacity; the camp said the medical lodge would help increase volunteer housing and allow future growth beyond its current summer cap of 128 campers per session. The committee then moved to adult protective services and state guardianship programs. Jessica Wayne, director of the Division of Guardianship, and Cliff Bryant of DCBS explained the legal framework for guardianship and conservatorship, including state guardianship as a last-resort option when no family member or private entity is available or appropriate. They outlined the court petition process, emergency appointments, and the distinction between full and limited guardianship or conservatorship. They emphasized that guardianship is based on legal incapacity to make decisions, not simply on a medical disability diagnosis, and noted that state guardianship can be arranged for some 17-year-olds aging out of youth services. The presenters said the state currently serves 4,645 individuals under guardianship, with most cases involving developmental intellectual disabilities, supported community living waiver participants, and people in nursing homes or long-term care facilities. They also described the division’s three branches: field services, which handles visits and day-to-day decisions in all 120 counties; a benefits branch that applies for public benefits; and a fiduciary branch that manages funds and pays bills. They reported 89 field workers statewide, an average caseload of 52, and said the agency is hiring to reduce that load. No votes or formal committee actions were taken during the meeting.
TX
Transcript Highlights:
  • This reduces opportunities for delays or abuse in annuity transactions.
  • It also defines an exchange, the tax-free annuity replacement, where ownership and the annuitant remain
  • Members, are there any questions about this annuity bill?
  • As community-owned utilities, we are directly accountable to the customers we serve.
  • These plans provide a framework. for reducing liability and more operational accountability and would
WA

Washington 2025-2026 Regular Session

House Finance Feb 9th, 2026 at 08:00 am

Finance

Transcript Highlights:
  • Foundational Health Services Account without first being deposited into the Andy Hill account and then
  • transferred for deposit into the Foundational Health Services Account.
  • It also makes sure that annuities don't get caught up in this.
  • It also makes sure that annuities don't get caught up in this.
  • fund, even if it goes to a dedicated account, that account can be raided and put into the general fund
Committee: House Finance
TX

Texas 89th Regular

Senate Session (Part IV) May 30th, 2025

Texas Senate Floor Meeting

Transcript Highlights:
  • ensure that these money service businesses will provide refunds to the customer in the event of an account
  • creates the Texas Strategic Bitcoin Reserve as a special fund managed by the Comptroller of Public Accounts
  • move to concur with House amendments to the committee substitute for Senate Bill 1504. ...and accountability
  • computed under this section for a retiree or beneficiary. if the retiree on whose service the annuity
  • fiscal year ending August 31, 2025, in accordance with Section 659.012, continues to apply to the annuity
Bills: SJR27 , SB7 , SB27 , SB57 , SB66 , SB140 , SB293 , SB413 , SB437 , SB467 , SB506 , SB510 , SB512 , SB571 , SB710 , SB785 , SB800 , SB850 , SB863 , SB865 , SB904 , SB905 , SB973 , SB974 , SB1191 , SB1281 , SB1300 , SB1362 , SB1494 , SB1504 , SB1522 , SB1567 , SB1579 , SB1580 , SB1723 , SB1760 , SB1838 , SB1923 , SB1946 , SB1957 , SB1964 , SB2121 , SB2167 , SB2221 , SB2321 , SB2368 , SB2373 , SB2407 , SB2431 , SB2477 , SB2587 , SB2615 , SB2807 , SB2965 , SB2986 , SB3039 , SB3047 , SB3070 , SB1 , SB8 , SB12 , SB13 , SB15 , SB17 , SB21 , SB30 , SB37 , SB260 , SB268 , SB331 , SB379 , SB441 , SB447 , SB457 , SB509 , SB568 , SB650 , SB763 , SB1198 , SB1405 , SB1506 , SB1540 , SB1566 , SB1610 , SB1637 , SB1660 , SB1833 , SB2018 , SB2024 , SB2155 , SB2217 , SB2308 , SB2337 , SB2601 , SB2753 , SB2778 , SB2878 , SB2900 , SB2972 , SB3059 , HB4 , HB145 , HB300 , HB493 , HB2011 , HB2067 , HB2516 , HB2525 , HB2885 , HB2974 , HB3071 , HB3372 , HB3556 , HB3595 , HB5138 , HB5246 , HB40 , HB46 , HB 119 , HB705 , HB1545 , HB2017 , HB2963 , HB3642 , HB3909 , SJR36 , SJR50 , SJR63 , SCR12 , SCR39 , SB2023 , SB62 , SB666 , SB847 , SB284 , SB854 , SB810 , SB1505 , SB583 , SB507 , SB1434 , SB1772 , SB2016 , SB1122 , SB731 , SB397 , SB508 , SB1436 , SB287 , SB1882 , SB393 , SB1791 , SB209 , SB2429 , SB1085 , SB1975 , SB2717 , SB1262 , SB636 , SB2056 , SB884 , SB1200 , SB1845 , SB2458 , SB801 , SB3014 , SB3013 , SB758 , SB2797 , SB2076 , SB2876 , SB1640 , SB1449 , SB1181 , SB1234 , SB2926 , SB2841 , SB1528 , SB1854 , SB317 , SB1250 , SB2082 , SB1237 , SB2819 , SB629 , SB2608 , SB1602 , SB2009 , SB867 , SB640 , SB1698 , SB2680 , SB913 , SB1071 , SB1086 , SB1087 , SB1483 , SB1444 , SB1553 , SB1556 , SB1703 , SB2133 , SB2297 , SB2298 , SB2622 , SB2955 , SB2334 , SB1367 , SB2044 , SB2363 , SB2565 , SB1888 , SB3036 , SB3057 , SB3043 , SB3063 , SB3035 , SB203 , SB2688 , SB2522 , SB2459 , SB2655 , SB2251 , SB1884 , SB2928 , SB2566 , SB2549 , SB2553 , SB2919 , SB1944 , SB1232 , SB1798 , SB2603 , SB2607 , SB2683 , SB1319 , SB3045 , SB3071 , HB796 , HB1523 , HB5294 , HB748 , HB3395 , HB180 , HB3171 , HB146 , HB5596 , HB5694 , HB 1135 , HB3225 , HB186 , HB1449 , HB3793 , HB 112 , HB 104 , HB3336 , HB3520 , HB3320 , HB5663 , HB2399 , HB 111 , HB3483 , HB4580 , HB3748 , HB632 , HB4730 , HB5690 , HB5689 , HB3385 , HB4359 , HB5381 , HB 123 , HB5606 , HB 1057 , HB3664 , HCR141 , HCR40 , HCR59 , SR695 , SCR54 , HCR153 , HCR166 , HCR168 , SJR27 , SB7 , SB57 , SB66 , SB140 , SB293 , SB413 , SB437 , SB467 , SB506 , SB510 , SB512 , SB571 , SB710 , SB785 , SB800 , SB850 , SB863 , SB865 , SB904 , SB905 , SB973 , SB974 , SB1191 , SB1281 , SB1300 , SB1362 , SB1504 , SB1522 , SB1567 , SB1579 , SB1580 , SB1723 , SB1760 , SB1838 , SB1923 , SB1946 , SB1957 , SB1964 , SB2167 , SB2221 , SB2321 , SB2368 , SB2407 , SB2477 , SB2587 , SB2615 , SB2807 , SB2965 , SB2986 , SB3039 , SB3047 , SB3070 , HB40 , HB 119 , HB705 , HB1545 , HB2017 , HB2963 , HB3642 , HB3909 , SB17 , SB21 , SB509 , SB1198 , SB1506 , SB1833 , SB2155 , SB2601 , SB2778 , HB300 , HB2011
NH

New Hampshire 2026 Regular Session

House Ways and Means (01/29/2026)

Ways and Means

Transcript Highlights:
  • or under the health account where it pertains to disability income coverages only.
  • </c> annuity or under the health account annuity or under the health account where<00:21:50.960><c> it
  • > tax</c><00:28:38.640><c> annuities</c><00:28:39.120><c> at</c><00:28:39.279><c> all.
  • </c> business, we don't tax annuities at all. business, we don't tax annuities at all.
  • </c> this assessment was based on annuity this assessment was based on annuity premiums<00:29:57.520>