Video & Transcript : 'annuity account' :
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WA
Washington 2025-2026 Regular Session
Pension Funding Council Jun 23rd, 2026 at 02:00 pm
Pension Funding Council
Transcript Highlights:
- Each institution is accounted for and funded separately.
- Accounting Standards Board, or GASB, reporting requirements.
- But what we do have today is the accounting valuation, and what we can do is look at the accounting metrics
- What we do have today is the accounting valuation, and what we can do is look at the accounting metrics
- As I mentioned a couple of slides ago, they are accounted...
Committee:
Joint Pension Funding Council
MO
Transcript Highlights:
- and it says basically for any purpose, including but not limited to credit unions, tax-sheltered annuities
- , individual retirement accounts, membership dues, voluntary contributions, or group insurance premiums
- For any purpose, including but not limited to credit unions, tax-sheltered annuities, individual retirement
- accounts, membership dues, voluntary contributions, or group insurance premiums.
Committee:
House Legislative Review
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 04/08/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- > to</c><00:17:18.160><c> members</c> unreduced retirement annuity to members unreduced retirement annuity
- </c><00:18:46.880><c> will</c> and 30 unreduced retirement annuity will and 30 unreduced retirement annuity
- </c><01:04:16.880><c> that</c> $379,000 in the TRA funds account that $379,000 in the TRA funds account
- An unreduced annuity at age 62.
- I support unreduced annuity at age 62.
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Public Service Jun 21st, 2026 at 01:00 pm
Joint Committee on Public Service
Transcript Highlights:
- supervision may therefore, before the date of any retirement allowance becomes effective, pay into the annuity
- These retirees had their pensions calculated using outdated mortality data, the combined annuity table
- buy five years of pay for five years of buyback years, there was no benefit to closing the TIAA accounts
- those channels have been accurate when they apply the law to the... ...basic facts, but it does not account
- She took money out of her account, the TIAA prep fund.
Committee:
Joint Joint Committee on Public Service
Summary:
The Joint Committee on Public Service heard testimony on a range of retirement-related bills, with several witnesses and advocates focusing on pension equity, veteran benefits, and recognition for public safety workers. Representative Dennis Gallagher and Mass Retirees supported legislation to increase the long-standing veterans’ bonus from $15 to $50 per year of service, up to $1,000 annually, and described it as a modest, overdue adjustment with minimal fiscal impact. Mass Retirees also backed bills to raise the minimum survivor allowance for public retirees and to address inequities in Option B and Option C survivor benefits for retirees whose pensions were calculated under older mortality tables.
The committee also heard a personal bill from Representative Jim Arceiro and Nathan McKinnon seeking creditable service for McKinnon’s years in the Nevada higher education system, which he said should count toward his Massachusetts retirement. Another individual bill was presented by Roberta Wollins, supported by Senator Keenan, to remedy what she described as misleading retirement advice from UMass Boston that affected her ability to buy back prior service and made her retirement planning inaccurate. Senator Keenan and others framed both cases as unique fairness issues rather than broad policy changes.
A large panel from police, fire, corrections, EMS, and related organizations testified in favor of a COVID-19 retirement credit proposal and a study bill, arguing that essential workers who reported in person throughout the pandemic should receive recognition and a time-based retirement credit. Witnesses described exposure risks, illness, deaths, staffing strain, and long-term effects from COVID-19, and several committee members voiced support and appreciation for their service. The hearing concluded with no votes taken on the bills and a motion to adjourn, which was approved.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/10/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- </c> Again, as of yesterday, funded accounts. Again, as of yesterday, funded accounts.
- </c> starting to see the funding accounts starting to see the funding accounts come<00:48:45.920><c>
- There are fire department accounts.
- They will then get the benefit account. The account will then be able to be invested.
- <c> able</c><01:44:21.200><c> to</c><01:44:21.280><c> be</c> account will then be able to be account
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jun 16th, 2026 at 10:00 am
Select Committee on Pension Policy
Transcript Highlights:
- Members also have the ability to purchase an annuity from the pension trust fund.
- Members also bear the investment risk on their contributions to those DC accounts.
- In Plan 3, members may invest their accounts in a variety...
- In contrast, for Plan 3, members may access the funds in their accounts upon separation.
- Members might like to be in Plan 3 and watch their account balances go up.
Committee:
Joint Select Committee on Pension Policy
LA
Transcript Highlights:
- What this bill does is, presently, accounts, security accounts, land, et cetera, are frozen when a person
- What this bill does is presently accounts, security accounts, land, et cetera, is frozen when a person
- They can, you know, reach out to the account holder.
- Amendment 1 amends the definition of account holder.
- And by all accounts, I think they're doing well.
Keywords:
transfer on death, TOD, beneficiary designation, investment accounts, brokerage accounts, securities, nonprobate transfer, estate planning, succession, probate, community property, forced heirship, financial advisor, broker-dealer, custodian, transfer agent, banking, wealth transfer, inheritance, Louisiana Revised Statutes
AL
Transcript Highlights:
- Qualified and experienced independent certified public accountant that is approved by the commissioner
- House bill we passed out of committee earlier this year regarding safe harboring for health savings account
- Got a motion to adjourn. savings account dollars in the event of savings account dollars in the event
Committee:
House Insurance
Keywords:
police abuse registry, law enforcement registry, officer assault, assault on police, resisting arrest, battery on law enforcement, law enforcement injury fund, Back the Blue Act, Attorney General, clemency, pardon, commutation, rehabilitation costs, medical costs, public safety, criminal records, background checks, registry removal fee, privacy, due process
MA
Massachusetts 2025-2026 Regular Session
Joint Committee on Municipalities and Regional Government Mar 3rd, 2026
Joint Committee on Municipalities and Regional Government
Transcript Highlights:
- Thank you. to file complaints to file complaints, seek accountability, and engage in decisions that affect
- Our residents deserve a responsive and accountable government, and this home rule petition is a step
- listening to us today on H. 4887, an act to authorize the town of Plymouth to establish a special revenue account
- This home rule petition allows Plymouth to thoughtfully manage land use and maintain an account for purchasing
- land... ...allows Plymouth to thoughtfully manage land use and maintain an account for purchasing land
Bills:
H4738 , H4843 , H4844 , H4845 , H4849 , H4878 , H4887 , H4924 , H5052 , H5053 , S2878 , S2894 , S2897 , H5102 , H5107 , H5108 , H5109 , H5128 , H5136 , S2963 , S2956
Keywords:
Holyoke, City Council, municipal governance, special meetings, local government transparency, park land exchange, Lexington, public use, school committee, athletic fields, town administrator, employment authority, Wilbraham, local law, Uxbridge, public meeting notices, legal notices, municipal transparency, local government, digital publication
AL
Alabama 2026 Regular Session
Alabama Senate Banking and Insurance Committee Feb 4th, 2026
Banking and Insurance
Transcript Highlights:
- well as future Alabamians, who manage a portion of their health care costs with a health savings account
- well as future Alabamians, who manage a portion of their health care costs with a health savings account
- Joking. that contribute to HSA's health savings that contribute to HSA's health savings account. account
- . account.
- </c> have catastrophic uh insurance accounts have catastrophic uh insurance accounts that<00:18:42.320
Bills:
SB170 , SB177 , SB207 , SB208 , SB215 , HB27 , SB219 , SB247 , SB232 , SB81 , SB170 , SB177 , SB207 , SB208 , SB215 , HB27 , SB219 , SB247 , SB232 , SB81
Committee:
Senate Banking and Insurance
Keywords:
health insurance, health savings account, high deductible plans, federal regulations, cost-sharing, insurance law, breast cancer, health coverage, deductible, copayment, insurance, captive insurance, captive insurer, captive insurers, insurance regulation, Alabama Department of Insurance, insurance commissioner, premium tax, capital requirements, surplus requirements
TX
Transcript Highlights:
- proceedings by specifying documentation guardians of the estate must attach to the process. ...annual accounts
Committee:
House Judiciary & Civil Jurisprudence
Keywords:
digital rights, replication, Voice likeness, visual likeness, private causes of action, fee structure, online service providers, postmortem rights, self-defense, stand your ground, castle doctrine, use of force, deadly force, civil immunity, civil liability, tort claims, attorney fees, court costs, lost income, Chapter 9 Penal Code
TX
Transcript Highlights:
- You have to have your support individuals there either so your attorney. or accountants or so the need
Committee:
House Natural Resources
Keywords:
HB 279, uranium mining, uranium permit, production area authorization, production zone, Texas Water Code, TCEQ, Texas Commission on Environmental Quality, contested case hearing, administrative hearing, groundwater restoration, groundwater baseline, water quality, mining permit, restoration values, natural resources, environmental regulation, in-situ uranium mining, permit amendment, public hearing
TX
Transcript Highlights:
- For a cost to create a YouTube account to post and archive videos doesn't require sophisticated equipment
- It's a common-sense bill incorporates 21st century expectations of transparency and accountability in
Committee:
House Natural Resources
Keywords:
HB 279, uranium mining, uranium permit, production area authorization, production zone, Texas Water Code, TCEQ, Texas Commission on Environmental Quality, contested case hearing, administrative hearing, groundwater restoration, groundwater baseline, water quality, mining permit, restoration values, natural resources, environmental regulation, in-situ uranium mining, permit amendment, public hearing
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Jul 21st, 2026 at 10:00 am
Select Committee on Pension Policy
Transcript Highlights:
- then they don't have to hire their own actuaries to produce the work that needs to go into their accounting
- The board's also been looking at starting to look at 457 plans and the purchase of additional annuity
- The board's also been looking at starting to look at 457 plans and the purchase of additional annuity
- in Plans 3, doesn't automatically provide you with benefits for life, but can be converted to an annuity
Committee:
Joint Select Committee on Pension Policy
ND
North Dakota 2025-2026 Regular Session
Senate Floor Session Apr 2nd, 2025 at 12:30 pm
North Dakota Senate Floor Meeting
Transcript Highlights:
- So it is tiered, starting at the very top. ...for the accountant that may be reviewing the investment
- Section 5 was amended to allow the PERS board the authority to explore out-of-plan annuities through
- an annuity shopping service.
- There are currently in-plan annuities in the defined contribution plan, but Section 5 was added to allow
- the board the opportunity to explore out-of-plan annuities and to possibly make the defined contribution
Summary:
The Senate convened with prayer, pledge, roll call, and a quorum present, then approved a motion to lay over House Bill 1525 for one legislative day. It also voted not to concur with House amendments on Senate Bills 2294, 2297, 2070, 4017, and 2262, appointing conference committees for each. The chamber then took up a series of House bill amendments and final-passage votes.
On amendments, the Senate adopted changes to House Bill 1229 on fleeing law enforcement and driving-record transparency after debate over insurance impacts and public safety; House Bill 1510 on teacher retention, on-site child care, and licensure study language; House Bill 1160 to restrict student personal electronic devices during instructional time; House Bill 1429 to address drone harassment and stalking of animals; House Bill 1203 to harmonize medical marijuana provisions; House Bill 1600 to create a UND immigration clinic with reporting requirements; House Bill 1130 to broaden K-12 funding formula changes and reduce state fiscal impact; House Bill 1279 to modify the coal conversion tax exemption; House Bill 1442 to adjust membership and scope of a state task force; and House Bill 1464 to convert a maternal care services proposal into a study and remove the appropriation. The Senate rejected an amendment to House Bill 1022 concerning the Retirement and Investment Office bonus program, then passed the bill. It also passed House Bill 1234 on a $90 million transfer to reduce PERS liability, while rejecting a floor amendment to it.
On final passage, the Senate passed House Bills 1008 (Public Service Commission budget), 1218 (temporary moratorium and study on economic analysis for drain projects), 1234 (PERS funding transfer), 1146 (PERS defined contribution cleanup and emergency clause), 1355 (expanded notice for administrative rulemaking), 1470 (Game and Fish fee changes and guide/outfitter updates), 1029 (Capital Grounds Planning Commission duties), 1017 (Game and Fish budget), 1374 (township supervisor open-meeting exemption for on-site inspections), and 1064 (NC-SARA membership and distance education regulation). It defeated House Bill 1583 on false political advertisements with civil-action language and House Bill 1393 on earned wage access provider regulation. The transcript ends as the Senate begins consideration of House Bill 1326 on self-defense and unlawful firearm possession by felons.
ID
Transcript Highlights:
- That's a well-defined term in accounting. People know what that means and how to calculate that.
- For instance, one of our primary products is a multi-year guaranteed annuity.
- It strengthens Idahoans' ability to speak with one voice and hold federal agencies accountable.
- The new ...ability to speak with one voice and hold federal agencies accountable.
- There's been no fiscal accountability that I have heard about in what's being proposed.
Committee:
House Business
NH
New Hampshire 2025 Regular Session
House Finance Division I (02/27/2025)
Transcript Highlights:
- So this is a fluid accounting unit.
- So this is a fluid accounting unit.
- So this is a fluid accounting unit.
- So this is a fluid accounting unit.
- Accounting for how many hearings are already scheduled, these numbers do not account for how many more
Summary:
The committee held a work session on the Department of Business and Economic Affairs budget, with testimony from Chase Hegman and Kathy Frederickson. Early discussion focused on staffing and vacancies, including a senior planner position tied to FEMA requirements, a program assistant funded by federal ORID dollars, a program specialist being considered for reclassification, two Housing Champions positions to be funded in the next biennium, and temporary welcome center positions. Members also reviewed the commissioner’s office, indirect cost recoveries tied to federal program administration, and the structure and staffing of rest areas and welcome centers, including the Turnpike-funded locations and seasonal staffing patterns.
Members then moved through economic development and federal grant-related accounts. Hegman explained that a large share of the agency’s funding is federal, with some programs requiring state match, including the Apex Accelerator, which supports government contracting assistance for businesses. He described Apex as a small team that helps businesses with DOD and other contracting opportunities through webinars, matchmaking, and one-on-one support. The Office of Workforce Opportunity was described as largely federally funded through Commerce-related workforce programs and subrecipients, with some general fund support for agency-wide needs. The Northern Borders Regional Commission dues and capacity grant were also discussed, with officials explaining the state’s required contribution and the federal funds used to administer the program.
A major point of discussion was the proposed reduction to the Small Business Development Center, which officials said provides one-on-one technical assistance to new and small businesses and has a strong return on investment. Members questioned the cut, the federal funding sources, and whether there was a waiting list for services; officials said they would provide more detail on matching requirements and funding. The committee also reviewed travel and tourism accounts, including the joint promotional grant program and tourism advertising funds, both of which are proposed to increase. Officials said the tourism marketing formula is based on a percentage of meals and rooms tax revenue and argued that the spending generates significant visitor spending and tax revenue, citing an outside ROI study and examples of advertising in test markets. No votes were taken during the work session.
TX
Transcript Highlights:
- The bill abolishes all funds, accounts, and revenue dedicated... ...created or recreated by the 89th
- It allows us to examine new funds, accounts, and revenue dedications that are being contemplated by the
- The substitute incorporates this new funding while adjusting institutional distributions to account for
- The average annual annuity for ERS recipients is $22,285.
- ERS or TRS in their investment account. What about gold? Can they buy gold? Same thing.
Committee:
Senate Finance
MN
Transcript Highlights:
- I think more transparency and accountability in the money space of politics is really critical.
- We talked about mutual funds and a bunch of other products that are out there, annuities, but that's
- um but that's kind of harder annuities um but that's kind of harder to<00:47:41.160><c> have</c><00:
- The definition includes stocks, shares, bonds, warrants, options, pledge notes, mortgages, annuities,
- And then the second part of that definition says securities do not include savings account certificates
Committee:
Senate Elections
WA
Transcript Highlights:
- Accounting Standards Board, or GASB, reporting requirements.
- But what we do have today is the accounting valuation, and what we can do is look at the accounting metrics
- I just have one slide for you today on the accounting results.
- the accounting metrics.
- I just have one slide for you today on the accounting results.
Committee:
Joint Pension Funding Council
Summary:
The Pension Funding Council met on June 23, 2026, for a work session that began with an overview of the Higher Education Supplemental Retirement Plan (SRP) and a 2025 accounting valuation of that plan. Staff explained that the SRP is a closed defined benefit supplement for higher education employees hired before the 2011 closure, with employer contributions currently pre-funding benefits in institution-specific trusts while institutions still pay benefits on a pay-as-you-go basis. The State Actuary’s office reported that the plan’s accounting position has improved, with combined market assets of about $245 million against $377 million in accrued liability, and that strong market performance since 2022 has increased the asset-to-liability ratio. The office emphasized that this was an educational accounting valuation, not a funding valuation for rate-setting.
The council then received the 2025 actuarial valuation report for the state retirement systems. Actuaries reviewed the recent demographic experience study, noting updated assumptions for mortality, retirement, termination, and salary growth, and said the net impact on most plans was small. They reported that most plans’ funded ratios improved, with all plans at least 94% funded and several at or above 100%, and that contribution rates for the 2027–2029 biennium are generally lower than current rates. They also noted that future rates could be affected by market volatility as deferred gains are recognized over the next few years. During public comment, a representative of the Association of Washington Cities urged the council to consider rate reductions to help local governments facing budget pressures.
In executive session, the council first approved a motion directing the Office of the State Actuary to perform an actuarial evaluation and analysis of each institution’s Higher Education Supplemental Retirement Plan, including institution-specific contribution rates, asset sufficiency, and funding policy options, due by July 1, 2028. The council then adopted the 2027–2029 pension contribution rates based on the 2025 actuarial valuation report. Both motions passed 5-0, with one member excused. The meeting concluded with no further business.