Transcript Highlights:

• We've built in three simulation sites at three different DMCs, but we're also building out some simulation
• We've built in three simulation sites at three different DMCs, but we're also building out some simulation
• We've built in three simulation sites at three different DMCs, but we're also building out some simulation
• We've built in three simulation sites at three different DMCs, but we're also building out some simulation
• This one is a representation of our immersive simulation.

Keywords: 1183, house

Transcript Highlights:

• So, their required 40 hours that they need to meet in the simulator.
• So, their required 40 hours that they need to meet in the simulator.
• they need to meet um in the simulator. they need to meet um in the simulator.
• That's actually our CDL simulator.
• So, we have a simulator that students can get into and utilize for practice.

Bills: HF3650, HF1791, HF3489, HF4231, HF4232, HF4269, HF4270, HF3490

Keywords: student career pathways, education framework, experiential learning, employer engagement, career technical education, career and technical education, CTE, postsecondary scholarship, postsecondary grant, school district funding, cooperative unit, Minnesota high school, apprenticeship, certificate program, tuition assistance, workforce training, military transition, education finance, student aid, career pathways

Transcript Highlights:

• Members of the emergency response team must participate in a cardiac emergency simulation 30 days prior
• The SERP team must also provide certification that they completed their simulation to the school board
• The SERP team must also provide certification that they completed their simulation to the school board
• The SERP team must also provide certification that they completed their simulation to the school board
• <00:47:20.319> to that they completed their simulation to that they completed their simulation

Keywords: 1187, senate, all

Transcript Highlights:

• Jack Maritime College, along with the Houston pilots and the Galveston, Texas City pilots to run simulations
• In 2022, we tested a dual 600-foot, 50-foot gate design through 111 test runs at our own simulation center

Bills: HB16, HB1618, HB2692, HB2712, HB2970, HB3609, HB3628, HB16

Keywords: water infrastructure, Texas Water Development Board, financial assistance, water supply projects, rural municipalities, water access assessment, aquifer storage, Edwards Aquifer, water injection, environmental regulations, groundwater management, San Antonio River, pollution control, flood management, water quality, conservation district, bonds, utility rates, ratemaking, water services

Transcript Highlights:

• So, in reviewing 2,000 equally likely economic simulations that vary investment returns, we found roughly
• subsequent years resulted in the need for more state contributions, whereas only about 100 of those simulations
• Looking at that same stochastic analysis, only 100 of our simulations, or 5% of the overall simulations

Keywords: 904, all

Summary: The Select Committee on Pension Policy approved its minutes by roll call vote, then postponed an OSA annual update due to a family emergency. The committee received an Open Public Meetings Act refresher from Assistant Attorney General Kate Adams, who reviewed key compliance points including quorum and serial meetings, notice and agenda rules, executive session limits, public comment requirements, and the consequences of violations. She also noted a litigation hold notice sent to members and provided resources for further guidance. Staff then briefed the committee on E2 Second Substitute House Bill 2034, which restates and terminates LEOFF 1 on June 30, 2029, creates a restated LEOFF 1 funded by transferred assets, and places excess assets into a pension surplus holding account that could later be used by the state. The bill requires DRS to seek IRS guidance, directs OSA to calculate the transfer amount and assess any future unfunded liability, assigns implementation duties to DRS, OSA, the Pension Funding Council, the State Investment Board, and the Treasurer, and requires two SCPP studies on LEOFF 1 medical benefits and policy oversight. OSA’s actuary estimated the transfer to the surplus holding account at about $3.9 billion under current assumptions and said the bill increases the modeled chance of future state contributions if the restated plan falls below 100% funded; members asked about IRS timing, the 2029 transfer date, and whether the 110% buffer is sufficient. The committee also received an update on the LEOFF 1 medical benefits study required by the bill. Staff said the study will examine the administration of pension boards and medical liabilities, likely focusing on medical benefits, and will gather anonymized data from local boards, cities, counties, and related agencies over the next three years. Members and public commenters discussed the number and structure of local boards, whether spouses receive medical benefits, and the possibility of regionalizing or consolidating administration. No action was taken, but staff said they would return with milestones and further updates. Finally, staff outlined a possible Plan 3 study, prompted by DRS, to evaluate whether the original goals of Plan 3 have been met after 30 years. The proposed study would review historical context, member choice outcomes, policy questions, and possible recommendations over a two-year period. The committee also heard an update on new correspondence procedures, including a new online web form, a correspondence log in meeting packets, and removal of correspondence from the public website. During public comment, retiree groups urged the committee to pursue an ongoing COLA for PERS and TRS Plan 1, with interim ad hoc COLAs until then, while LEOFF 1 retirees urged caution about changing the current board structure and emphasized the complexity of medical benefit administration.

Transcript Highlights:

• give you a little bit of technical background about how these studies are done in the industry: we simulate
• We simulate load, electricity demand, and resource availability across a wide range of conditions—conditions
• So we do a whole bunch of simulations and try to add up all the conditions in which supply is less than
• On the bottom there, what I've shown you in that chart is the different water years that we're simulating

Summary: The committee held a work session covering PFAS regulation and impacts, no-cost allowance allocation for emissions-intensive trade-exposed industries (EITEs), and regional resource adequacy and data center load growth. Senator Victoria Hunt was welcomed as a new member. The Department of Ecology reviewed Washington’s Safer Products for Washington PFAS work, including completed restrictions on PFAS in outdoor furniture, carpets, rugs, stain/water-resistant treatments, and newer rules adopted in November restricting PFAS in most apparel, cleaning products, and automotive washes, with reporting requirements for some other products such as cookware and firefighting gear. Ecology also described Cycle 2 PFAS reviews now underway, including artificial turf and paints, and answered questions about compliance, online sales, sell-through periods, and how Washington’s approach differs from broader bans in states like Maine and Minnesota. The Department of Ecology also presented on PFAS in biosolids, describing a 2024 sampling study, limitations in testing methods, and a 2025 statutory amendment requiring additional sampling between 2027 and 2028 and a report to the legislature in 2029. The Department of Health then updated the committee on PFAS in drinking water, reporting that most Group A public water systems have completed sampling, that 317 sources and 188 systems are expected to exceed new contaminant levels, and that treatment costs for public systems are estimated at about $970 million, leaving a large funding gap; members also asked about private wells, health effects, bathing exposure, and home filters. The Board of Health’s new state action levels are being aligned with federal MCLs, and the department said it expects to continue monitoring and notification under state rules. Ecology also briefed the committee on no-cost allowance allocations to EITEs under the Climate Commitment Act, explaining the leakage-mitigation rationale, the current allocation schedule through 2034, and a forthcoming report on policy options for 2035-2050; members asked about industry barriers, competitiveness, and whether facilities might leave the state. Finally, E3 presented a regional resource adequacy study showing rising load, retirements outpacing additions, limited winter reliability value from wind, solar, and batteries, and a projected shortfall beginning in 2026 that could grow to about 9,000 MW by 2030 if planned projects are not built. The presentation emphasized winter cold-weather events, hydro variability, the importance of permitting and transmission, and longer-term options including nuclear, geothermal, hydrogen, carbon capture, and long-duration storage. EPRI then introduced its DC Flex initiative, which is studying how data centers can provide flexible load through workload shifting, cooling optimization, and on-site backup or bridging resources to reduce grid stress and protect ratepayers.

Transcript Highlights:

• We do that through what's called stochastic analysis, where we simulate a few thousand different investment
• Those CMAs then go on to inform the table on the right, which is the 15-year average simulated returns
• That’s due to both the increasing CMA expected returns and a change to SIB’s simulation model.
• with that in mind, we then considered whether OSA should be making any adjustments to those SIB simulations

Summary: The committee approved the July minutes and then received an informational presentation from the Office of the State Actuary on the financial condition of the state retirement systems. The actuary reported that employer contribution rates are generally declining, helped by strong investment returns and reduced funding for PERS 1 and TERS 1, while funded ratios have continued to improve; on a combined basis the plans were reported at 100% funded in 2024, with open plans above 95% and legacy plans varying by system. The presentation also reviewed projected rates and funded ratios under current assumptions, noted that pension costs are taking a smaller share of the state general fund, and discussed risks from investment volatility, policy changes, and demographic experience. Committee members asked about savings from lower rates, deferred asset smoothing, and how Washington compares with other states. The committee then considered the state actuary’s recommendation on long-term economic assumptions and adopted all four recommendations by roll call votes: inflation at 3.0%, general salary growth at 3.5%, membership growth for Plan 1 funding at 1.0%, and investment rate of return at 7.25%. The actuaries explained that the inflation and salary growth increases were driven largely by higher long-term inflation expectations, while the investment return recommendation matched the current statutory assumption. Members discussed the timing of the Pension Funding Council’s decision, the effect of tariffs and inflation uncertainty, and how assumption changes would affect future contribution rates and budgets, particularly for open plans. Staff then gave an update on the LEOFF 1 study, explaining the difference between being “ahead of schedule” and truly overfunded, and summarizing responses received from DRS, the State Treasurer, and the State Investment Board on the merger and restatement proposals. DRS said both bills could be administered, though the merger bill’s COLA banking provision would be challenging until its new system is ready; the Treasurer urged caution, especially about the restatement bill and the use of one-time funds; and the Investment Board said removing assets from the trust would have some transaction costs but likely small impacts. The committee discussed whether to invite additional agencies and local government groups to testify, and staff said more responses, including from Ice Miller and the State Actuary, were expected for the October meeting. Finally, the committee heard a briefing on PERS 1/TERS 1 COLA policy and related bills from the last session. Staff reviewed the committee’s prior ongoing COLA recommendation, the SCPP-endorsed bills that would have created a one-time 3% COLA followed by an ongoing COLA, the Senate merger bill, and a separate ad hoc COLA bill. Public testimony largely supported Plan 1 COLAs and stable contribution rates, while several speakers urged caution about transferring LEOFF 1 surplus assets or merging legacy plans, and others raised concerns about climate risk and the pension fund’s investments. No further committee action was taken on the COLA item during this portion of the meeting.

Transcript Highlights:

• And one is the flight simulator market. You know, we've worked very closely with CAE and the TIE.
• And one is the flight simulator market.
• They're one of the world leaders in building incredibly complex flight simulators for large aircraft,

Summary: The committee met with a quorum and heard first from Space Florida President and CEO Robert Long, who described the agency’s role as the state’s aerospace finance and business development authority and spaceport authority. He reported a pipeline of about 187 projects, nearly $7 billion in potential private investment, and roughly 8,000 potential jobs, with 161 projects in the fiscal-year pipeline, up about 30% from the prior year. Long said Space Florida is focusing on workforce development through its Space Florida Academy with 23 school districts, and on target markets including advanced air mobility/eVTOL, flight simulation, and satellite manufacturing. Members asked about infrastructure, federal-state coordination, LNG planning, environmental mitigation, workforce, and how the Legislature’s recent $5 million recurring increase is being used; Long said the funds are mainly supporting staffing, contracted services, and IT improvements to handle growth and move projects through faster. The panel then heard from Blue Origin, Leonardo (through LSN Partners), and Lone Star Data Holdings. Blue Origin said its Florida manufacturing and launch operations have grown far beyond initial commitments, with more than $3 billion invested and over 3,000 employees in the state, and emphasized the need for roads, water, wastewater, and other launch-site infrastructure as launch cadence increases. Leonardo highlighted its TH-73A Navy helicopter program in Milton and a new 70,000-square-foot maintenance facility at Whiting Aviation Park, crediting state, local, and federal partners and noting future potential for its AW-609 tiltrotor aircraft. Lone Star Data Holdings described its satellite-based data storage and disaster-recovery business, said Florida was its first customer, and urged the state to use Florida as a pilot project for protecting data and expanding space-based data infrastructure. Members repeatedly focused on what the state should do next, and the panel’s main answer was continued investment in infrastructure and long-term planning. Specific needs mentioned included road widening, traffic signals, fire suppression, water pressure, wastewater capacity, power, transportation links, environmental mitigation, and LNG-related planning at the spaceport. No formal votes or bills were taken up in the meeting, and the session ended after member questions and comments with a motion to rise and adjourn.

Transcript Highlights:

• The space will feature state-of-the-art simulation and skill labs designed to prepare students for real-world
• hundreds of school children killed, thousands of school children killed, thousands of civilians lost, and bombs

Keywords: U.S. House of Representatives Floor Proceedings on Wednesday, June 24, 2026, 1012, house, all

Transcript Highlights:

• Well there's a lot of new modeling simulation tools commercial users, but within those spaces where we
• how can this administration cultivate more agency buy-in to avoid the sorts of disputes that have simulation

Keywords: spectrum policy, FCC auction authority, national security, innovation, technology development, 9-1-1 modernization, adaptive technologies, China competition

Summary: The meeting centered on the critical examination of spectrum policy and its implications for innovation and national security. The committee discussed the lapse of the FCC's spectrum auction authority, which has been in effect since March 2023, emphasizing the urgency of restoring this authority to maintain U.S. technological leadership against competitors like China. Witnesses provided testimony regarding the need for adaptive and reconfigurable spectrum technologies to enhance communication capabilities for both civilian and military applications. Senator Klobuchar highlighted the importance of modernizing 9-1-1 systems and ensuring robust emergency communication frameworks leveraging new spectrum innovations.

Transcript Highlights:

• And every moment of that training was essential. 200 hours of simulated surgery, sewing pig eyes, mastering
• 00:18:57.679> of training was essential. 200 hours of training was essential. 200 hours of simulated
• surgery,<00:18:59.280> suring<00:18:59.760> pig<00:19:00.080> eyes, simulated
• surgery, suring pig eyes, simulated surgery, suring pig eyes, mastering<00:19:01.039> microscopic
• University of Washington revealed that ophthalmology training using simulated eyes was very effective

Keywords: 1183, house

Transcript Highlights:

• I want to pull language from House Bill 2027, House Draft 1, in its current form of language to simulate
• ><00:59:19.440> of<00:59:19.599> language<00:59:20.160> to<00:59:20.480> simulate
• current form of language to simulate current form of language to simulate what<00:59:21.119>

Keywords: 910, house, all

Summary: The Committee on Transportation heard several measures and took action on each after testimony. SB 2697 SD1 would prohibit driving on roadway shoulders except in limited circumstances, authorize towing or impoundment of vehicles with expired registrations of three or more years, increase certain fines and penalties, and require annual reporting; the Department of Transportation supported it, and the committee later adopted amendments and recommended passage. SB 2399 SD2 would provide a general excise tax exemption for aircraft maintenance materials, parts, tools, and related facility construction; it drew support from industry groups and comments from the Department of Taxation and Tax Foundation of Hawaii, and was also passed with amendments. SB 2665 SD2 would require driver’s license renewal applicants with a recent traffic citation to complete a road-safety course and exam; DOT supported it, the Public Defender opposed it as not clearly linked to safer driving, and the committee amended the bill to raise the trigger from one citation to two citations within five years before recommending passage. The committee also heard SB 2851 SD1, which would allow deaf vehicle owners to register a deafness designation visible to law enforcement; the Disability and Communication Access Board supported it, Peter Fritz testified in support while urging amendments on verification and threshold issues, and the committee adopted amendments and passed the measure. SB 3102 SD2 would clarify DOT’s role in port pilotage standards and appeals; DOT, DCCA, pilots, maritime interests, labor, and harbor users supported it, and it was passed with amendments. SB 2521 SD1 would exempt emergency medical services personnel from CDL requirements, require emergency-vehicle training, and update the definition of authorized emergency vehicle; DOT, DOH, Honolulu emergency services, and UPW supported it, and it too was passed with amendments. Finally, SB 3157 would transfer unencumbered automated speed enforcement special fund balances above a set threshold to the general fund. DOT supported the concept, but members questioned whether excess funds would ever accumulate and whether the money should instead support safe routes to school; the committee increased the threshold from $12 million to $25 million, discussed but did not adopt a transfer to another special fund, and passed the bill with amendments. The chair noted the next hearing would be held the following Tuesday, likely at 8:30 or 9:00 a.m.

Transcript Highlights:

• April 1983, an Iranian-backed terrorist group bombed the U.S.
• <00:14:16.639> our Iranbacked Hezbollah bombed our Iranbacked Hezbollah bombed our embassies
• <00:14:40.720> in US diplomatic personnel in a bombing in US diplomatic personnel in a bombing
• bombing at a Marine compound in Beirut. bombing at a Marine compound in Beirut.
• spending billions of dollars to bomb spending billions of dollars to bomb Iran Iran Iran when<05

Keywords: U.S. House of Representatives Floor Proceedings on Wednesday, March 4, 2026, 1012, house, all

Transcript Highlights:

• It hasn't been turned in to me yet, but my understanding is that he was trying to simulate both.
• Now again, simulation is a little bit, it adds a lot of variables to your results.

Transcript Highlights:

• for critical infrastructure, security, looking at� SCADA and control systems, hardware, software simulation
• We do a lot on tornado simulations.
• We have a large tornado simulator that is located at Reese to really understand the impact of tornadoes

Bills: HB 1105, HB1527, HB1787, HB1972, HB2081, HB3296, HB3976, HB4071, HB4234, HB4438, HB4701, HB5092, HB5150, HB5180, HB5265, HB5333, HJR203

Keywords: tuition exemption, paramedics, higher education, laboratory fees, emergency medical services, peace officers, criminal justice, law enforcement, degree programs, public institutions, HB 1787, HPV, human papillomavirus, college health, university health, student health, public health education, prevention program, screening, early detection

Transcript Highlights:

• and procedures, including, at minimum, training on the use of pediatric instruments and clinical simulations
• and drills that simulate emergency situations.
• Simulate emergency situations.

Summary: The Health Care Facilities and Systems Subcommittee met with a quorum present and took up five bills. The first, CS/HB 1119 on pediatric readiness in hospital emergency departments, would require hospitals with ERs to adopt evidence-based pediatric care policies, train staff, designate a pediatric emergency care coordinator, complete the National Pediatric Readiness Assessment, and meet minimum equipment and planning standards. Members discussed transport to the closest appropriate facility and implementation concerns, but the bill passed 16-0. The committee then approved HB 677, which would add standard fertility preservation services to the state group insurance program for employees undergoing chemotherapy, and CSHB 497, which would authorize nonprofit agricultural organization medical benefit plans for Florida Farm Bureau members, aimed at improving affordable coverage for farmers and ranchers. HB 677 passed 16-0, and CSHB 497 passed 18-0 after questions about membership, regulation, disclosures, and how the plan would compare with ACA coverage. The subcommittee also approved PCS/HB 791 on surrendered newborn infants, allowing infant safety devices at hospitals, EMS stations, and fire stations as an alternative safe-haven option. Members discussed alarms, unmanned stations, and whether churches should be included; the bill passed 18-0. Finally, HB 1529 on home health aides for medically fragile children was amended and passed 18-0. The bill seeks a federal waiver so compensation for parents serving as home health aides does not count against Medicaid eligibility, and the amendments added reporting of adverse incidents, set work-hour limits, and protected certain other benefits. The chair closed by emphasizing the committee’s role in implementation oversight and fixing problems after enactment.

Transcript Highlights:

• bombs back and forth to try to get you. bombs back and forth to try to get you.
• We both lobbing these political bombs. We both do<00:32:02.080> it.
• So, is this a political bomb back and forth? I don't think that's the point.
• <00:46:03.920> I this a political bomb back and forth?
• I this a political bomb back and forth?

Keywords: 919, house, all

Summary: The House debated Representative Long’s motion to suspend the rules so House File 5084 could be recalled from committee, given second and third readings, and brought to final passage. The bill was described by opponents as an extreme anti-abortion measure that would create a right to life from fertilization, potentially criminalize abortions except in narrow cases, and could affect IVF, miscarriage care, and treatment of adverse pregnancy outcomes. Supporters said the bill was about protecting unborn life and giving Minnesotans the chance to decide the issue themselves through the ballot box. Several members spoke against the motion, arguing that Minnesota has already settled reproductive rights through court decisions and recent legislation, and warning that the bill would put government into deeply personal medical decisions. They cited stories from other states where women were investigated or arrested after miscarriages or self-managed abortions, and said the proposal could treat people as criminals for seeking reproductive care. One member emphasized that the bill could be especially dangerous in cases like ectopic pregnancy, where treatment delays could threaten the pregnant person’s life. Members in favor of the bill framed the issue as one of conscience, democracy, and protection of human life from conception. They said every abortion is an act of violence against a distinct human being and argued that Minnesotans should be allowed to vote on the question. Some speakers also shared personal experiences with miscarriage, infertility, premature birth, or pregnancy loss to explain why they viewed the issue as morally serious and emotionally difficult. The debate became broader and more partisan, with some members criticizing both sides for using the issue as a political weapon rather than focusing on legislative work. The transcript does not include the final vote result, but the motion was clearly under a roll call and the chamber proceeded with extended floor debate over House File 5084.

Transcript Highlights:

• In fact, years ago we had to make a simulated firearm law because if I had a gun like, say, an airsoft
• They made an amendment to this, along with the simulated firearm law, then we're able to charge those
• <01:08:21.719> firearm<01:08:22.239> law we have to make a simulated firearm law we
• have to make a simulated firearm law because<01:08:24.440> if<01:08:24.600> I<01:08:24.759
• firearm then we're able to simulated firearm then we're able to charge<01:08:42.040> those<01

Keywords: 912, senate, all

Summary: The committee first took up SB 547 on water conservation, a deferred agenda item that had already been considered by the other joint committees and received no public testimony. The chair recommended adopting Department of Taxation and Department of Health amendments, passing the bill, and adding a defective date of July 1, 2050. The committee voted to adopt the recommendation; the vice chair voted yes, two senators were excused, and the recommendation was adopted. The main hearing focused on SB 1030, which would define election fraud intimidation to include carrying any firearm or weapon at or near a voter service center, place of deposit, or polling place. Testimony was overwhelmingly opposed, with speakers arguing the bill duplicated existing sensitive-places law, raised Second Amendment concerns, and could create confusion for lawful concealed carry holders using ballot drop boxes. A smaller number of supporters, including gun violence prevention advocates and labor representatives, argued the measure would improve voter safety. The committee heard more than 1,560 total testimonies for the hearing overall, and for SB 1030 staff noted over 10 in support and over 80 in opposition; no vote on SB 1030 was taken in the portion provided. The committee then heard SB 38, which would extend Hawaii’s ban on high-capacity magazines from pistols to any firearm with a detachable magazine over 10 rounds. Supporters, including the Department of Law Enforcement, Moms Demand Action, Everytown, Brady, and other gun violence prevention advocates, said the bill would close a loophole, improve consistency in the law, and reduce the harm caused by mass shootings. Opponents, including gun owners, veterans, and Second Amendment advocates, argued the bill would criminalize lawful owners, be difficult to enforce, and would not reduce crime. The committee reported receiving over 40 testimonies in support and over 400 in opposition. Finally, the committee began SB 401, which would add rifles capable of firing .50 caliber or higher ammunition to the list of prohibited weapons, excluding antiques and muzzle loaders. HPD and Everytown testified in support, describing the weapons as military-grade and dangerous, while Jerry Yuan and others opposed the bill, saying it was overbroad and would sweep in firearms and ammunition types that are not used in crime. The transcript ends during testimony on SB 401, before any committee action or vote on that measure.

Transcript Highlights:

• positions, and work in a hands-on way positions, and work in a hands-on way that<00:11:44.959> simulates
• that simulates the realworld workforce. that simulates the realworld workforce.

Keywords: 958, all

Summary: The House convened with 92 members present, approved the prior day’s journal, and received Senate messages announcing passage of Senate Bills 104 and 152 and Senate Joint Resolution 74. The chamber then moved through second reading of several bills, including measures on pension spiking, real property, organ donation safety, probationary retirement benefits, elections, and retired emergency personnel. Later, the Committee on Committees and Rules reported new referrals and posted bills for Monday’s regular orders, and the House also introduced several floor amendments. Two bills were taken up and passed. House Bill 527, relating to insurance regulatory requirements, was amended by House Committee Substitute 1. The substitute removed language repealing the workers’ compensation deductible range, revised the strengthened Kentucky Homes program to provide one-time grants of up to $15,000 to approved contractors for certification costs, and added an emergency clause for that grant provision. Supporters described the bill as a broad technical modernization of insurance law, including updates to licensing and responsibility requirements; it passed 92-0. House Bill 111, relating to on-farm animal health, was also amended by House Committee Substitute 1 after the sponsor said the bill had been negotiated with agriculture and animal-industry groups. The substitute clarified that farmers may seek guidance from professionals, exempted equine operations, and preserved state and federal authority in disease or abuse cases; the bill passed 94-0. During motions, petitions, communications, and announcements, members recognized Black History Month with a tribute to Georgia Davis Powers, highlighting her civil rights leadership and legislative achievements. The House also heard announcements about an upcoming Kentucky Nuclear Energy Authority/NITA board meeting and a Medicaid Oversight Advisory Board meeting. House Bill 495 was withdrawn by its sponsor, and House Bill 1 was briefly read and returned to committee as part of procedural handling. The House adjourned until 4:00 p.m. Monday, February 23, 2026.

Transcript Highlights:

• target asset allocation, the target asset allocation of the CTF, the commingled trust fund, and simulated
• We also saw increases in the simulated CTF returns provided by the State Investment Board since our last
• Now, it's important to note that these SIB capital market assumptions and simulated returns that we use

Summary: The Pension Funding Council met on October 8 with introductions from council members and staff, then received a detailed presentation from the Office of the State Actuary on long-term economic assumptions and the state pension systems’ financial condition. OSA reported that the combined pension systems are currently 100% funded on a smoothed basis, with open plans above 95% funded, and that legacy Plan 1 systems remain on a path toward full funding under current policy. The actuaries recommended updating assumptions to 3% inflation, 3.5% general salary growth, and a 7.25% investment return, while keeping Plan 1 membership growth at 1%. They also explained asset smoothing, the role of recent strong investment returns, and the expected budget impacts of the recommended changes. Representatives from the Economic and Revenue Forecast Council and the State Investment Board offered supporting perspectives, generally describing the assumptions as reasonable and consistent with their own outlooks. The council also heard an overview of the Long-Term Services and Supports Trust Program (WACares) from DSHS and OSA. Program staff described the program’s social insurance structure, premium collection, benefit eligibility, and upcoming implementation milestones. OSA reported that the program’s first actuarial valuation showed a positive actuarial balance under the base scenario and recommended no change to the current 0.58% premium rate during the program’s early learning phase, noting that future changes would depend on experience and the program’s risk-management framework. OSA also said the recommendation would remain the same regardless of the outcome of the pending ballot measure affecting investment options. During public comment, a representative of the Washington State School Retirees Association urged continued work on Plan 1 funding and related legislation, while the Association of Washington Cities cautioned against increasing pension assumptions in a way that could raise future employer costs and reduce flexibility for current local government services. In action, the council adopted a motion to maintain the current long-term economic assumptions by a 4-2 vote, adopted the recommendation to keep the WACares premium rate at 0.58% by a 6-0 vote, and then elected Katie Chapman as council chair by unanimous vote. The meeting then adjourned.