Transcript Highlights:

• We're actuarially sound. That definition of actuarial soundness is in statute.
• That means that we would be no longer actuarially sound.
• And what I will tell you is actuaries are notoriously conservative, which we like.
• Leslie, head count is part of your actuarially soundness determination.
• That's unfunded actuarial accrued liability.

Keywords: infrastructure, water supply, flood mitigation, Texas Water Fund, community projects, funding allocations

Summary: During this committee meeting, the focus was on discussing critical infrastructure funding, especially related to water supply and flood mitigation projects. Chairwoman Stepney and the Water Development Board presented extensive details regarding the Texas Water Fund, which included $1 billion appropriated to assist various financial programs and tackle pressing water and wastewater issues. Additionally, funding allocations aimed at compromising the state's flood risk and improving water conservation were hotly debated, emphasizing collaboration among committee members and the necessity of addressing community needs in such projects.

Transcript Highlights:

• study; it wasn't for services.
• same amount for DO for an actuarial same amount for DO for an actuarial study<01:45:04.400> to
• measure because it was for an actuarial measure because it was for an actuarial study<01:45:28.320
• So my question is: who were you looking to do the actuarial studies to be able to give us the information
• who were you looking to do the actuarial who were you looking to do the actuarial studies<01:46:

Keywords: 910, house, all

Summary: The House Committee on Judiciary and Hawaiian Affairs heard House Bill 2095, which would provide supplemental appropriations for the Judiciary for the 2025-2027 biennium. Judiciary Administrative Director Brandon Kimura testified in strong support and outlined a request for about $6.4 million in supplemental operating funds, plus four permanent full-time position conversions. He grouped the request into security, services to court users, and staffing needs, including $3.25 million for supplemental armed private security at judiciary facilities statewide, nearly $200,000 for cybersecurity staffing and support, restoration of funding for substance use treatment purchase-of-service contracts, restoration of funding for the Office of Public Guardian on Kauaʻi, salary commission funding, a Kona court operations position, and two Court-Appointed Special Advocates positions converted from temporary to permanent. He also described five capital improvement requests totaling $55.4 million, led by $30 million for construction of a new South Kohala courthouse, $1.2 million each for air conditioning upgrades in Hilo and Kauaʻi, $15 million for elevator upgrades at Kahumanu Hale, and $8 million in lump-sum bond funds for emerging projects. Several organizations testified in support, including Parents and Children Together and the True Cost Coalition. Supporters emphasized the importance of the purchase-of-service funding for domestic violence and substance use treatment services and said the restoration would return funding to pre-COVID levels and help providers maintain capacity. Kimura explained that the Judiciary often shifts funds among contracts during the year to avoid service interruptions, but that the reduced funding has caused delays and operational problems for providers and probationers. Members asked detailed questions about the capital projects and operating requests. Representative Shimizu asked for more information on the lump-sum bond funds and the elevator project, and Kimura explained that the Kahumanu Hale request covers four remaining elevator shafts after earlier funding addressed the first five elevators. Representative Cochran asked about the absence of Maui County projects, and Kimura said the Judiciary is still planning for its older Maui facilities with DAGS. Chair Tarnas questioned the need for armed private guards and discussed whether court security should be prioritized within the Department of Law Enforcement; Kimura said the Judiciary needs additional personnel now and has not asked DLE to deprioritize other missions, though the chair suggested further coordination between the agencies. No vote or final action on the bill was taken in the portion of the hearing provided.

Transcript Highlights:

• <00:05:02.280> about reforms there's a lot of studies about reforms there's a lot of studies
• Actuarial assumptions were cited as one of the culprits.
• there's other reasons in various studies there's other reasons in various studies and<00:35:32.520
• the actuary amount and above and beyond. the actuary amount and above and beyond.
• <00:36:06.560> hand-in-hand Um our actuaries we work hand-in-hand Um our actuaries we work

Keywords: Meeting Start 00:00:00 Attendance Roll Call 00:00:54 Pension System Update 00:03:38, 958, all

Summary: The committee held its first official interim meeting after merging the General Government and Finance, Personnel, and Public Retirement committees, establishing a quorum and opening with the pledge and prayer. Members then received a briefing from KPPA representatives Ryan Barrow and Aaron Sarock on the state retirement systems, including KERS, CERS, and SPRS, and on the importance of fully funding the actuarially determined employer contribution, supplemental appropriations, and investment earnings in reducing unfunded liabilities. They said the systems have made progress toward a statutory closed amortization target of 2049 and emphasized that supplemental funding lowers current employer contribution rates but does not change that end date. A major topic was federal and state reemployment-after-retirement rules for retirees who return to work with participating employers. KPPA explained that retirees must have a bona fide separation from service, no prearranged agreement to return, and generally a one-calendar-month break in service for retirees on or after January 1, 2024. If a member fails to comply, retirement benefits can be voided, payments stopped, health coverage ended, and benefits repaid. The presenters also noted that rehired retirees do not earn a second retirement account, and employers rehiring them must pay employer contributions and, in non-exempt cases, reimburse health insurance costs. Members asked about the scale of rehired retirees and the difference between employer contribution and health insurance reimbursement amounts. KPPA said that in fiscal year 2025 there were over 3,500 rehired retirees in CERS and over 5,000 in SPRS, with substantial employer contributions and health reimbursement payments collected. They also explained that some positions are exempt from these chargebacks, including school resource officers and certain law enforcement positions that meet statutory criteria. The committee discussed House Bill 213, which allows cities, sheriffs’ departments, and post-secondary institutions to offer health insurance to rehired officers if authorized by the governing body, effective August 1, 2026, and clarifies the fiscal-year basis for certain exemption limits. No votes were taken.

Transcript Highlights:

• Did we do a study on the cost analysis benefit?
• Can we back up to page 8 under the actuarial evaluation summary?
• My name is Mark Finlaw and I'm with Rudd Wisdom Consulting Actuaries, and our firm provides the actuarial
• So that some years or some biannual actuarial evaluations there's a gain.
• It'll be set into where the actuarially determined contribution will be done by an actuary, and that

Transcript Highlights:

• Our actuaries themselves...
• <01:44:25.679> uh gets rated by our external actuaries uh gets rated by our external actuaries
• Um even actuarial rapidly changing.
• <01:55:44.000> studies<01:55:45.119> we<01:55:45.360> were based on the actuarial
• studies we were based on the actuarial studies we were in<01:55:45.599> a<01:55:45.840> deficit

Keywords: 1191, senate, all

Transcript Highlights:

• DECEMBER OF 2024 FOCUSING ON ALTERNATIVE PAYMENT MODELS FOR ADULT DAY TRAINING SERVICES BASED ON A STUDY
• CONDUCTED BY ACHA ACTUARIAL SERVICE VENDOR.
• Miller: MY QUESTION IS YOU MENTIONED A 31 PERCENT RESPONSE RATE ON THIS STUDY DONE BY MILLIMAN IS THAT
• AS OUTLINED IN SB 2502 THE METHODOLOGY MUST BE ACTUARIALLY SOUND, COST BASED, ADJUSTED TO REFLECT THE
• ANYTHING CLARIFICATION. >> I WILL ADMIT GETTING TO ACTUARY DISCUSSIONS IS OUTSIDE MY REALM.

Transcript Highlights:

• We created a process where we have to have these actuary studies done every year, and based on those
• actuary studies, that will determine it.
• We look at the program as a whole to determine what the premiums are, and based on the actuary studies
• <00:09:09.839> studies<00:09:10.200> done have to have these actuary studies done have
• every year and So based on those actuary every year and So based on those actuary studies<00:09:

Keywords: 1183, house

Transcript Highlights:

• “A P&C actuary costs upwards of $500,000 to $600,000 in the private market.
• And these are actuaries not just in, you know, if a company hires an actuary, that’s an actuary that
• A P&C actuary costs is paid upwards of $500,000, $600,000 in the private market.
• And these are actuaries not just in, you know, if a company hires an actuary, that's an actuary that
• We also discovered that there hasn't been a salary study in a couple of decades.

Summary: The subcommittee met to review agency travel, budget reduction exercises, and member reports from agency meetings. Early discussion focused on the Department of Management Services (DMS), where members questioned the cost of travel for four out-of-state data/cyber staff and the secretary’s absence. DMS defended the hires as highly specialized enterprise cybersecurity and data personnel, said the positions were lawfully paid and posted, and explained that the staff work on statewide data cataloging and cyber risk reduction rather than agency-by-agency systems. Members also raised concerns about fleet inventory discrepancies and requested follow-up information on hiring, travel, and data inventory timelines. The chair said she would consider travel guardrails and possible reductions, and noted that DMS, the Lottery, and the Florida Commission on Human Relations did not meet the requested reduction target, while the Public Employee Relations Commission did not submit reductions. The committee then heard from the Florida Lottery about the secretary’s trip to Paris for the World Lottery Convention. Lottery staff said the trip was reimbursed through the multi-state lottery organization and was intended to share best practices and improve operations, though members questioned the value of the travel and requested reimbursement records and the trip agenda. The subcommittee also reviewed agency reduction exercises from several agencies. The Department of Revenue exceeded its target and was praised for frugality; DFS, the Florida Gaming Control Commission, the Office of Financial Regulation, the Office of Insurance Regulation, the Public Service Commission, the Division of Administrative Hearings, and the Department of Business and Professional Regulation each described how they met or approached their reduction goals, often through vacancies, reversions, or expense cuts. OIR warned that further reductions could hurt insurance regulation capacity, while OFR and PSC said their reductions were based on historical reversions and lower post-COVID travel or vacancy levels. Members then reported back on agency meetings. DMS members raised fleet tracking, real property audits, salary studies, and health plan savings ideas, and asked for follow-up on the Florida PALM project, cybersecurity grants, and state IT modernization. DFS members said the agency was efficient and that its Palm-related work and insurance consumer programs were important. Lottery members emphasized the agency’s revenue generation for education and its low administrative overhead. Gaming Control members highlighted storage costs for seized gaming equipment and suggested technology-based alternatives. PERC members said a union-related law had doubled their workload and asked for more staffing and possible AI assistance. OIR members stressed the need for a Tampa satellite office and more resources to recruit and retain specialized staff. The chair closed by saying the committee would continue reviewing travel, staffing, and reductions with an eye toward taxpayer value and transparency.

Transcript Highlights:

• That means that We're actuarially sound. That definition of actuarial soundness is in statute.
• And unfortunately, that analysis from our actuary did create some confusion.
• That means that we would be no longer actuarially sound.
• Lastly, headcount is part of your actuarially soundness determination.
• Sorry for the abbreviation there, that's Unfunded Actuarial Accrued Liability.

Keywords: 1184, house, all

Transcript Highlights:

• says he has previously submitted testimony and will introduce it again into the record, including a study
• The witness says the study indicates the projected cost for a city that is going to host a large casino
• we have some evidence from a study we have some evidence from a study called<00:13:36.360> uh
• <00:47:38.520> firm<00:47:39.359> to Actuarial firm to Actuarial firm to review<00:47:41.240
• The actuarial report is, I believe, a 60-plus-page report.

Keywords: 928, house, all

Summary: The committee first held a public hearing on HB 660, which would require historic horse racing facilities to provide 10% of HHR winnings to host municipalities as mitigation. Representative Om said the bill was intended to offset local costs associated with large gaming facilities, noting that prior gaming measures included opt-in provisions and that this proposal would leave charities and the state whole while taking the 10% from the operator’s share. Members questioned why 10% was chosen and whether municipalities were currently experiencing added costs; Om said the amount was meant to address projected future impacts, not broader municipal budget issues, and cited a study on casino-related community costs. Opponents from the New Hampshire Charitable Gaming Operators Association argued the bill unfairly singled out one industry and said gaming facilities do not impose more municipal burden than other entertainment venues. The hearing closed without a vote, and a member clarified the bill would apply to existing and future casinos/facilities. The committee then opened a hearing on HB 658-FN, which raises the cap on reimbursements from the Oil Discharge and Disposal Cleanup Fund and makes related changes to the Oil Pollution Control Fund. Representative Malloy introduced the bill, and Representative Aly described the funds as an insurance backstop for oil spill cleanup and low-income tank replacement, saying the program helps prevent environmental hazards and satisfies financial responsibility requirements. Bob Scully of the Energy Marketers Association supported the bill but noted that fee changes are ultimately passed on to consumers. Department of Environmental Services officials Robert Bishop and Jennifer Marts explained that the bill would change reporting deadlines, raise the reimbursement cap for low-income homeowners, extend the fee collection period for 10 years, and adjust petroleum import fees based on an actuarial review. They said the funds cover spill response, prevention, and tank replacement, and that the fee structure was designed to keep the funds solvent while balancing costs across fuel categories. Committee members asked about the actuarial basis for the fee changes, why some fees would rise while others would fall, and how the funds are used. DES said the review used 10 years of claims and exposure data and that the fuel oil fee would otherwise need to rise sharply, so the board proposed a smaller increase and rebalanced other fees. Members also asked about the scope of covered oil imports, and DES explained that the fee applies to oil destined for use in New Hampshire, not merely passing through the state. The discussion also covered home heating oil spills, which DES said are often discovered by homeowners or fire departments and are usually caused by tank corrosion, piping, or overfills. No votes were taken during the hearing, and the chair noted that the policy committee had already approved the bill before the finance-focused review.

Transcript Highlights:

• The same is true in looking at a study out of Florida.
• I think well over 100 studies.
• Someone should study that. I would argue let's have a study of that. Let's do that.
• Enlow: We'd have to study that.
• I'm looking at an MIT study that says the exact opposite.

Bills: HB 3

Keywords: emergency communication, public safety, interoperability, Texas Interoperability Council, grant program, emergency communications, public safety radio, first responders, radio system, dispatch, 911, emergency management, Texas Division of Emergency Management, public safety infrastructure, Project 25, P25, broadband emergency alerting, outdoor warning sirens, homeland security, disaster response

Transcript Highlights:

• the Historic Preservation Division, the New Mexico State Library, and the Office of Archeological Studies
• There is a lack of those in the state; even our own Office of Archaeological Studies is having trouble
• Let me check; maybe my chief actuary may have a better answer. Mr.
• Our actuary, our independent actuary who reviews the claims, has estimated that the total dollars that
• So we Through our actuary process, we reserve to the best extent that we can.

Transcript Highlights:

• pay normal cost versus the actuarial pay normal cost versus the actuarial required<00:09:44.480>
• buy the act buy it and pay the actuarial buy the act buy it and pay the actuarial required<00:51
• <00:52:12.559> actuarial<00:52:13.440> cost is 100% of the actuarial actuarial cost
• is 100% of the actuarial actuarial cost which<00:52:14.640> is<00:52:14.880> a<00:52:15.119
• What we don't have is an actuarial impact on that.

Keywords: Meeting Start: 00:00:00 Attendance Roll Call: 00:00:17 Approval of Minutes: 00:02:09 Legislative Proposals: HB 213: 00:02:13 HB 516: 00:25:00 HB 589: 00:39:30 Kentucky Public Pension Authority: 00:44:52 Adjournment: 01:14:07, 958, all

Summary: The Public Pension Oversight Board met on February 13 and approved the minutes after establishing a quorum. The committee then took up three pension-related bills, beginning with Rep. Callaway’s proposal to allow certain retired police officers with 15 to 19 years of service to be rehired by local law enforcement agencies. Callaway and Brandon Lincoln of the FOP said the bill is intended to help recruitment and retention, especially for departments facing staffing shortages, and emphasized that it would be optional and would not allow double-dipping. Committee members raised concerns that lowering the service threshold from 20 to 15 years could create an unfunded liability and weaken the pension system, and several members said they did not yet fully understand how the pension and insurance provisions would work. The sponsor said she was open to working on the bill, and the chair noted the committee would continue to examine it with help from KPA staff. The second bill, presented by Rep. Lewis with Brandon Lincoln and Jeff Taylor, addressed probationary employees in CS agencies, including firefighters and police officers. The bill would let certain former probationary employees purchase service credit for time spent in probation, and would extend line-of-duty death and disability protections to employees who are injured or killed during probationary service. Testimony said the measure is optional for employers, could be used as a recruitment tool, and would allow employees within six months of the probationary period to buy back the time themselves if they choose. Members generally supported the concept, noted a negligible fiscal note, and discussed whether current employees could buy back older probationary periods; the sponsor said the bill did not appear to allow that, though he was open to further discussion. Throughout both bills, members focused on whether the proposals would create new pension costs or liabilities and how they would interact with existing retirement tiers and contribution rules. Several members asked for clarification on whether rehired workers would contribute to the pension system, whether employers would pay normal cost or any contribution at all, and whether the bills would affect future retirement benefits. The sponsors and witnesses repeatedly said the measures were limited, optional, and intended to address staffing and fairness issues without changing the core retirement system, but the committee did not take final action on the bills during the discussion.

Transcript Highlights:

• So, I hope we can all study it, reach a conclusion.
• In insurance language, our rates are not actuarial.
• Our actuaries will review the rate.
• The study shows that appraisal has not been widely used.
• Our actuaries will review the...

Keywords: 1185, senate, all

Transcript Highlights:

• That's actuaries, um, uh, staff.
• I'm not gathering how they determine those if they don't have some actuarial studies say, here's what
• >> to um to certify from an actuarial >> to um to certify from an actuarial standpoint
• <00:46:28.319> the actuarial studies say here's what the actuarial studies say here's what
• >> We did a waiver rate study. >> We did a waiver rate study.

Keywords: 958, all

Summary: The committee first approved the June 9 minutes, then reviewed a deferred personnel contract involving workers’ compensation claims administration. Staff explained that the roughly $50 million figure included about $48 million for claims payments and up to $1.45 million per year for administrative services, with billing based on a fee schedule for specific services rendered. Senator Meredith raised concerns about the vendor’s history, the scoring and bid process, and prior allegations involving the company; the administration responded that the procurement had been conducted under 45A through open competition, with outside scorers and no finding of wrongdoing tied to this contract. Meredith moved to disapprove Contract 167, Hart seconded, and the committee voted 5-2 to disapprove it. The committee then deferred a Western Kentucky University personal services contract because the vendors were still not registered with the Secretary of State’s office. Hart moved to defer the contract until the August 2026 meeting, Meredith seconded, and the motion carried. The committee also approved the agenda covering the various contract lists and deferred items. Next, the committee heard from the Cabinet for Health and Family Services on several personal services contracts for medical staffing and related services. Secretary Steven Stack and staff explained that staffing shortages often require outside vendors, that the contracts were competitively bid under 45A, and that the cabinet uses a streamlined vendor pool for specialized needs such as actuaries, auditors, and technical consultants. The committee approved Contracts 52 through 55 without objection. Discussion then began on Contract 61, with Meredith expressing concern that the committee lacked enough detail to judge whether the services could be performed in-house or whether the exchange of resources was appropriate; Stack said the contract was intended to provide efficient access to specialized outside expertise. The transcript cuts off before a final vote on Contract 61 is shown.

Transcript Highlights:

• Who did that study?
• Who did that study?
• So that may seem abstract, but to those actuaries it is not.
• .<01:17:43.679> I actuaries.
• study committees have Legislative study committees have examined<01:58:20.320> this<01:58:20.639

Keywords: 1191, senate, all

Transcript Highlights:

• We have never run an actuarial impact analysis.
• As far as fire service studies, we've done 425-plus fire service studies all around the country and,
• But that is dependent on whether or not the fund is actuarially sound.
• studies and annual reports to the Employee Benefits Committee.
• Studies and annual reports to the Employee Benefits Committee.

Keywords: 908, all

Summary: The committee was called to order, a quorum was established, and the minutes from the prior meeting were approved. The first major presentation came from Montana Public Employees Retirement System executive director William Hollahan, who gave an overview of Montana’s Volunteer Firefighters’ Compensation Act plan. He explained that the plan covers volunteer firefighters in unincorporated areas, is funded by 5% of state fire insurance premium taxes, and currently serves 228 departments with about 2,936 active members and 1,242 retirees. He described eligibility rules, annual training and reporting requirements, benefit levels for partial and full pensions, disability, death, medical, and funeral benefits, and said the plan is actuarially sound with roughly $60 million in assets and a funded ratio slightly above 100%. Committee members asked about prior-service credit, whether EMS personnel are included, the effect on recruitment and retention, and whether expanding coverage would require a funding analysis; Hollahan said prior service is not credited, EMS is not currently included, and any expansion would need financial review. Tim Walleen of Workforce Safety and Insurance then presented a draft North Dakota workers’ compensation solution for volunteer firefighters and volunteer EMS personnel. He explained that volunteer responders are already covered by workers’ comp for medical and wage-loss benefits, but the proposal would set a minimum annual wage of $30,000 for calculating wage-loss benefits for qualifying volunteers, with the benefit paid at two-thirds of that amount. Representative Porter suggested tying the volunteer definition to existing code rather than a fixed dollar amount, and Walleen agreed. Questions focused on whether search and rescue or other volunteer emergency services could be included, whether departments would face new paperwork, and whether volunteer organizations can already elect coverage; Walleen said there would be no additional paperwork and that volunteer coverage is already available. The committee also heard from volunteer fire service representatives and the state fire marshal. An Oakes-area firefighter, Mr. Olson, testified that small departments are struggling with retention, communication, and administrative burdens, especially around separate bookkeeping and funding rules for donated or fundraising money, and he said departments need clearer guidance from the state. State Fire Marshal Dr. Matthew Clark introduced himself and outlined a broader effort to improve education, support, and coordination for fire departments, including a planned 10% audit of certificates of existence beginning in 2027, more outreach through his office, and better assistance with training, reporting, and grant access. He said his office is authorized under current law to provide these services, but the role has been vague and underused. Finally, Arnagard Rural Fire District Chief Rick Schreiber testified in favor of new recruitment and retention ideas, including retirement-style benefits, health insurance, tax incentives, scholarships, grants, and more remote or regional training. He said volunteer departments are losing members, that local tax and donation funds are already stretched, and that any new retirement or incentive program should be sustainable and likely involve a mix of state and local support.

Transcript Highlights:

• You said Aon is the study—when does the study...
• We need that study.
• We need that study.
• We need that study.
• We need that study.

Keywords: 912, senate, all

Transcript Highlights:

• Now, we just recently completed our actuarial audit.
• The year before we... ...went through a review of the actuarial assumptions that are baked into this
• We build that into the actuarial assumption.
• So, the other thing—the study on, or the audit, the actuarial audit—I remember in the middle of COVID
• Know the exact proportion, but I know some years ago our accounting department studied that.

Transcript Highlights:

• whether uh a benefit that we're studying whether uh a benefit that we're studying exceeds<00:03:
• A separate actuarial analysis is required.
• We create and produce aggregated data that contributes to the actuarial analysis.
• Finally, those data go back to the actuaries and to Commerce.
• <00:46:07.079> of the research falls into so um studies of the research falls into so um studies

Keywords: 1183, house