Video & Transcript Research : 'pension'
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OK
Keywords:
unclaimed property, abandoned property, state treasurer, unclaimed property fund, public website, claimant, hearing, administrative procedures act, sales tax exemption, income tax subtraction, youth entrepreneurs, teen business, minor-owned business, sole proprietorship, business license exemption, entrepreneurship, youth vendor, Oklahoma Tax Commission, Title 60, Title 68
Summary:
The committee first laid over Senate Bill 263, then took up several other measures. Senate Bill 1877, which would create a centralized reporting system for reports through the Secretary of State, was discussed as similar to House Bill 3047 and was reported due pass by a 6-0 vote. Senate Bill 1884, concerning access for statewide educator associations and individual school employees, drew questions about union access, off-campus recruitment, right-to-work law, and possible conflicting language on fees and reimbursement; it was reported due pass 6-1.
The committee then advanced tourism and public safety measures. Senate Bill 1365 would update promotional fund language and allow the Tourism and Recreation Department to make certain merchandise purchases outside the central purchasing process up to $75,000; it passed 6-2. Senate Bill 2174 would change the appointment and makeup of the State Fire Marshal Commission board and was reported due pass 8-0. Senate Bill 1525, as amended by a PCS, would let the Tourism and Recreation Department contract for support of its annual tourism conference and charge registration fees to recoup costs, with emergency language added; it passed 6-2.
The committee also approved House Bill 1810, which would allow expert testimony in human trafficking cases and add trafficking victims to existing victim services, by an 8-0 vote. On workforce and agency administration, Senate Bill 1771 would expand the Workforce Commission’s authority to collect funding, expenditure, and performance data and to hire outside counsel; it passed 5-2. Senate Bill 1805 would bar certain group homes and post-adjudication treatment facilities from using contract staff, due to concerns about records access and staffing; it passed 6-1. Finally, Senate Bill 1960 would move the Oklahoma Receivership Office under the Oklahoma Insurance Department to modernize and reduce duplication, and it was reported due pass 7-0. The meeting then adjourned.
OK
Transcript Highlights:
- Was this the one that had a cota issue with the pension itself that need?
Bills:
HB1245, HB2588, HB3024, HB3172, HB3279, HB3919, HB3306, HB3383, HB3431, HB3435, HB4352, HB3883, HB3942, HB4193, HB4203, HB4303, HB4311, HB4484
Keywords:
retirement, pension, public employees, Oklahoma Public Employees Retirement System, benefits, survivorship, contribution rates, disability retirement, owners associations, membership requirements, property ownership, board governance, residency requirements, salary increase, state employees, public finance, bonus limits, job performance, Fair Banking Act, financial institutions
OK
Transcript Highlights:
- Was this the one that had a CODA issue with the pension itself that needed...
Bills:
HB1245, HB2588, HB3024, HB3172, HB3279, HB3919, HB3306, HB3383, HB3431, HB3435, HB4352, HB3883, HB3942, HB4193, HB4203, HB4303, HB4311, HB4484
Keywords:
retirement, pension, public employees, Oklahoma Public Employees Retirement System, benefits, survivorship, contribution rates, disability retirement, owners associations, membership requirements, property ownership, board governance, residency requirements, salary increase, state employees, public finance, bonus limits, job performance, Fair Banking Act, financial institutions
Summary:
The Government Oversight Committee met with a quorum and heard a series of bills, beginning with HB 3942, which tightens the state’s incentive evaluation process; it passed 11-0. HB 4203, allowing the Oklahoma Uniform Building Code Commission to explore guidelines for small multifamily housing of eight units or fewer and four stories or less, passed 10-1. HB 2588, which requires HOA board members to own and live in the HOA, passed 12-0, and HB 3024, limiting large agency pay raises/stipends to 10% unless reported through OMES, passed 12-0. HB 3383, limiting state employees to 14-hour shifts in a 24-hour period with emergency exceptions, passed 10-2, and HB 3279, a cleanup bill related to last year’s government corruption legislation, passed 12-0.
The committee also advanced HB 3919, reducing county fair board size from nine to five members at county option to address quorum problems, and HB 3883, which imposes utility-system inspection, notice, and backflow-preventer-related requirements on governing bodies in exchange for reducing litigation exposure; both passed 12-0. HB 4193, as amended, would restrict state contracts and taxpayer funds from going to foreign adversaries or related entities, with exceptions and purchasing-director discretion; it passed 9-3. HB 3431 expanded foreign-adversary property restrictions to critical rare earth minerals and passed 13-0. HB 3435, a municipal bond single-subject bill, passed 12-0, and HB 4352, a Uniform Law Commission mortgage refinance update, passed 13-0.
Later, HB 4484, allowing Corporation Commission employees to take state vehicles home for travel purposes under existing-style oversight, passed 13-0. Committee members then presented HB 1245, moving certain DHS Inspector General law enforcement officers into hazardous pay retirement coverage; it passed 13-0. HB 3172, the Fair Banking Act, would limit adverse banking actions against lawful economic activity at large banks and create a complaint/reason-request process; after extensive questions about thresholds, exceptions, and constitutional issues, it passed 11-3. HB 3306, increasing transparency requirements for campaign statement-of-organization reporting with a $400 threshold and a delayed effective date, passed 14-0. The committee laid over HB 4303 and HB 4311 until the next meeting and adjourned.
AZ
Transcript Highlights:
- So let me see: Tier 1 is the original pension system, and then we messed with the pension system, created
- , they can receive their pension, and that's what we're doing here, Mr.
- But when you look at the pension question as it relates to Tier 2 and Tier 3, literally the pension is
- The subject is should they receive their pension when they retire?
- So there's one thing I think that we need to note in pension reform.
Bills:
SB1046, SB1317, SB1376, SB1416, SB1448, SB1471, SB1493, SB1498, SB1502, SB1504, SB1538, SB1544, SB1550, SB1579, SB1581, SB1584, SB1624, SB1673
Keywords:
telecommunications, broadband, internet infrastructure, critical infrastructure, cybersecurity, national security, foreign adversary, China, Chinese equipment, supply chain security, network equipment, microchips, Arizona Corporation Commission, telecommunications provider, communications infrastructure, Huawei, ZTE, state-owned enterprise, sanctions, infrastructure security
HI
Bills:
SB2042, SB2892, SB1163, SB2076, SB2116, SB2122, SB99, SB2088, SB2114, SB2117, SB2118, SB2245, SB2386, SB2079, SB2043, SB2155, SB2268, SB2932, SB3240
Keywords:
SB2042, Hawaii insurance, captive insurance, sponsored captive, class 4 captive, minimum capital, surplus requirement, unimpaired capital, insurance commissioner, HRS 431:19-104, commercial insurance, risk retention, insurance regulation, financial solvency, captives, Ways and Means, CPN, feral chickens, chickens, animal control
HI
Bills:
SB2042, SB2892, SB1163, SB2076, SB2116, SB2122, SB99, SB2088, SB2114, SB2117, SB2118, SB2245, SB2386, SB2079, SB2043, SB2155, SB2268, SB2932, SB3240
Keywords:
SB2042, Hawaii insurance, captive insurance, sponsored captive, class 4 captive, minimum capital, surplus requirement, unimpaired capital, insurance commissioner, HRS 431:19-104, commercial insurance, risk retention, insurance regulation, financial solvency, captives, Ways and Means, CPN, feral chickens, chickens, animal control
MN
Minnesota 2025-2026 Regular Session
Minnesota House passes omnibus pensions and retirement bill 5/13/26
Minnesota House Floor Meeting
Transcript Highlights:
- </c> strong public pensions. strong public pensions.
- </c> the pensions commission. the pensions commission.
- </c> be serving on pensions. be serving on pensions.
- </c><00:25:40.200><c> for</c><00:25:40.320><c> the</c> pensions and to protect pensions for the pensions
- technical,</c> pensions, pensions are super technical, pensions, pensions are super technical, but<00
Summary:
House File 4074, the second engrossment of the retirement bill, was presented as a broad pension package with changes affecting multiple public retirement systems. Rep. Lilly described provisions including bringing St. Paul teachers closer to parity with TRA, reducing the COLA waiting period for police and fire retirees from two years to one, lowering the retirement age for certain probation, corrections, and 911 telecommunicator workers from 60 to 55, addressing a State Board of Investments fix, and creating or continuing work on Secure Choice and other retirement-related issues. Members also noted help for volunteer firefighters, EMS-related workers, and a local fix for Maple Plain’s volunteer fire system. The bill was repeatedly described as bipartisan and the product of successful working groups and negotiations with the Senate.
Several members spoke in support, emphasizing the importance of public pensions, the impact of inflation on retirees, and the value of the bill’s targeted improvements for workers who are often not covered by Social Security. Rep. Johnson, Rep. Hill, Rep. Vega, Rep. Robbins, Rep. Cha, and others praised the work of the pension commission, staff, and the co-chairs. They highlighted the St. Paul teachers changes, the police and fire COLA adjustment, and the bill’s efforts to honor promises made to public employees. Some members also pointed to the importance of work groups as a way to develop better long-term solutions.
The main point of debate centered on the duty disability amendment, which would have addressed disability issues for first responders. Supporters said the issue is serious and needs a work group solution rather than piecemeal changes, while Rep. Johnson and others warned that the proposal could create problems by treating psychological injuries differently from physical injuries. Rep. Roach said the body should not have passed the prior law and urged a fix for disabled law enforcement and first responders. After discussion, Rep. Lilly withdrew the A3 amendment. Earlier technical amendments A9 and A10 were adopted by voice vote, with members noting they were non-substantive and intended to keep House and Senate language identical and avoid a conference committee. The bill then moved to third reading as amended, with members urging a green vote.
MN
Minnesota 2025-2026 Regular Session
Minnesota House passes SF2884, the Minnesota State Retirement System pensions bill 5/19/25
Minnesota House Floor Meeting
Transcript Highlights:
- This is the bipartisan pension bill from the pension commission.
- . pensions. pensions.
- The people that work for our pension<00:26:53.520><c> plans</c> pension plans pension plans perah<00:
- </c><00:29:12.399><c> And</c> pension, a full unreduced pension.
- And pension, a full unreduced pension.
MN
Minnesota 2025-2026 Regular Session
House Floor Session 5/19/25 - Part 2
Minnesota House Floor Meeting
Transcript Highlights:
- This is the bipartisan pension bill from the pension commission.
- This is the bipartisan pension bill from the pension commission.
- . pensions. pensions.
- </c><00:39:22.000><c> And</c> pension, a full unreduced pension.
- And pension, a full unreduced pension.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 04/08/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- </c> educator pensions. educator pensions.
- </c> pension that is sufficient to live on. pension that is sufficient to live on.
- , pension staff, pension experts, pension staff, stakeholders,<00:47:33.280><c> SBI</c><00:47:34.000>
- Tier 2 pensions were fully pension.
- Thank you. for pension improvements. To be clear, for pension improvements.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/17/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- Pension Pension >> Mr.<00:03:58.560><c> Chair.
- </c> move it to the Omnibus Pension Bill. move it to the Omnibus Pension Bill.
- </c> public pension plans. public pension plans.
- </c> 2026 omnibus pension bill. 2026 omnibus pension bill.
- </c> that improved TRA's pension benefits. that improved TRA's pension benefits.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 04/01/25
Minnesota Senate Floor Meeting
Transcript Highlights:
- </c> pensions that are years down the road. pensions that are years down the road.
- </c> the degradation of their pensions. the degradation of their pensions.
- </c> uh the pension commission. Thank you. uh the pension commission. Thank you.
- </c> into the 2025 omnibus pension bill. into the 2025 omnibus pension bill.
- </c> inclusion in the omnivous pension bill. inclusion in the omnivous pension bill.
MN
Minnesota 2025-2026 Regular Session
House Floor Session - part 2 May 19th, 2025
Minnesota House Floor Meeting
Transcript Highlights:
- This is the This is a bipartisan pension bill from the Pension Commission.
- Pensions are extremely wonky with policy things.
- pension.
- I was a co-author on all of the pension bills, and there were multiple pension bills unpacked, the one
- And I just have a hard time pitting teachers' pension versus police's pension.
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:
- The Pension Reserves Investment Management Board, PRIM, manages the Massachusetts pension fossil fuels
- The Pension Reserve's Investment Management Board, PRIM, manages the Massachusetts Pension Pension Reserves
- Clearly, pension beneficiaries like me do, like Tom, and me, but our pensions provide a defined benefit
- As a taxpayer and the daughter of a state pension holder, I want the Commonwealth to divest state pension
- The Massachusetts state pension plan must divest from companies, By our pension funds against her will
Summary:
The Joint Committee on Public Service held a hearing focused first on teacher retirement legislation, especially H. 2932 and S. 1884, which would give long-serving educators a one-time opportunity to enroll in Retirement Plus after the program’s 2001 rollout was described as confusing and inconsistently communicated. Legislators, union leaders, and many teachers testified that some educators missed the opt-in window because of faulty notices, leave status, transfers, or misinformation about payroll deductions, and that many have had to work several extra years as a result. Supporters said the bills would correct an unfair administrative error, provide a buyback option with interest, and could also save local school districts money by allowing earlier retirements. Representative Mark Sylvia also testified for H. 4234, a Fairhaven-specific bill to raise the age limit for special police officers from 65 to 70 and clarify appointing authority, citing experience and budget needs.
The committee then heard testimony on several pension investment and divestment bills. Supporters of H. 2811 and related climate-risk measures argued that PRIM should assess, disclose, and address climate-related financial risk in the state pension fund, warning that fossil fuel investments could threaten long-term returns and public finances. Environmental advocates and financial experts said climate risk is systemic and urged transparency, divestment planning, and alignment with the Commonwealth’s climate goals. Another set of speakers supported H. 2984, which would divest pension investments from companies selling weapons to Israel; they argued the state should not be complicit in violence in Gaza and cited humanitarian and human rights concerns. Additional testimony supported H. 2900 and S. 1869 to divest from the firearm industry, with speakers saying pension investments should not undermine Massachusetts gun laws.
No votes were taken during the hearing. The chairs repeatedly thanked speakers, limited testimony time, and noted that written testimony could be submitted later. The hearing concluded with the committee moving through the sign-up list and hearing extensive public testimony on the teacher retirement and divestment proposals.
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (2-24-25)
Transcript Highlights:
- </c> over and go directly to TRS uh pension over and go directly to TRS uh pension benefits<00:04:13.879
- funds are busy U making sure the Pension funds are busy U making sure the pensions<00:24:36.000><c>
- system, but of the company that the pension system is invested in, because the pension system needs
- system, but of the company that the pension system is invested in, because the pension system needs
- system, but of the company that the pension system is invested in, because the pension system needs
Keywords:
Meeting Start: 00:17
Attendance Roll Call: 00:41
Approval of Minutes: 02:40
HB 694: 03:16
SB 183: 18:32
Discussion on PPOB Membership: 36:10
Adjournment: 42:35, 958, all
Summary:
The committee first approved the minutes from its January 27 meeting and then took up House Bill 694, which would create a default rule for the Teachers’ Retirement System health insurance trust fund once it reaches 100% funding, currently anticipated around 2027. The bill would redirect two funding streams now going to the health trust—state payments on behalf of local districts and other employer contributions—into TRS pension benefits if the health fund reaches and maintains full funding. The sponsor said this would add about $154 million annually to TRS pensions and would only serve as a default if no other plan is adopted later.
Members asked whether the bill would shift the unfunded liability to teachers or affect employee contributions. The sponsor and staff said it would not shift liability to teachers and would not change the employee contribution; only the employer-side payments would be redirected. Several members asked about the meaning of actuarial 100% funding, whether the fund could fall back below 100%, and whether employee contributions might be reduced in the future. The sponsor said the bill is based on actuarial projections, would revert the money back to the health trust if funding fell below 100%, and does not prevent future legislative or board action. Senator Higdon and others spoke in support of discussing the issue, noting the 2010 shared-responsibility changes and the need for a default approach as full funding is reached.
The committee then heard Senate Bill 183, which would amend Kentucky law governing proxy advisers used by retirement systems. The sponsor said the bill would require proxy advisers, when handling shareholder-sponsored proposals, to act solely in the interest of retirement system members and beneficiaries and to provide an economic analysis when voting against a company board’s recommendation. He argued the measure is aimed at proxy advisers such as ISS and Glass Lewis, which he said often advance ESG-related proposals not tied to shareholder value. A guest from APCIA said the bill is meant to distinguish proxy advisers from investment managers and to strengthen the 2023 law by requiring a clearer economic justification for votes that depart from board recommendations.
Members asked how proxy advisers differ from other financial advisers, whether Kentucky uses them, and whether the bill would prevent pension funds from investing in companies with ESG factors if those investments are profitable. The sponsor and guest said the bill would not bar such investments; it is intended to regulate proxy voting recommendations, not investment decisions. They described the bill as a proactive measure to reinforce fiduciary responsibility and limit outside proxy influence on pension voting. No final vote on either bill was taken in the portion of the meeting provided.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 04/21/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- Pension support would. So, please support pension bill 4860.
- Pension support would. So, please support pension bill 4860.
- Pension support would. So, please support pension bill 4860.
- Pension support would. So, please support pension bill 4860.
- </c> pension steals our dignity. pension steals our dignity.
MN
Minnesota 2025-2026 Regular Session
Committee on State and Local Government - 05/07/26
State and Local Government
Transcript Highlights:
- </c> actually a very significant pension actually a very significant pension bill.<00:02:45.000><c> Some
- Uh, in the Pensions and Retirement.
- </c> Article 5 is an is another new pension Article 5 is an is another new pension plan<00:10:43.200>
- In pensions, you know, we have a saying: "Pensions is where a quarter percentage point goes to become
- In pensions, you know, we have a saying: "Pensions is where a quarter percentage point goes to become
KY
Kentucky 2025 Regular Session
Public Pension Oversight Board (10-21-25)
Transcript Highlights:
- There's no shortcuts on pension bills.
- </c> is all of our Kentucky public pension is all of our Kentucky public pension funds<00:10:27.839><
- Being around pensions for a few years, we have people go, how do we evaluate pension fund returns?
- ><c> their</c><00:12:06.959><c> policy</c> pension funds all beat their policy pension funds all beat
- </c><00:12:44.720><c> funds</c> and all of our state pension funds and all of our state pension funds
Keywords:
Meeting Start: 00:00
Attendance Roll Call: 01:02
Approval of Minutes: 02:03
Annual Investment Review: 04:10
Adjournment: 37:34, 958, all
Summary:
The committee met with a quorum, approved the prior meeting minutes, welcomed new staff member Sean Parks, and announced that it would not meet in November. The next meeting was scheduled for December 8 at 10:00 a.m., with the chair noting that pension bills would be heard then and emphasizing that all pension bills must go through the full process and include actuarial analysis.
Brad Gross of the Public Pension Oversight Board presented a detailed review of Kentucky retirement systems’ investments and funding. He said fiscal year 2025 ended with about $50.5 billion in pension assets and $12.52 billion in retiree health assets, both up from the prior year. He reported strong investment performance across the systems, with all Kentucky public pension funds exceeding their policy benchmarks and the median peer return of 10.4%. He also discussed long-term return trends, asset allocation differences among the systems, fee levels, and cash flow, noting that cash flow remains a key monitoring issue and that supplemental appropriations have improved the cash position of some funds, especially the Kentucky State Police and TRS systems.
Gross also explained that assumed rates of return have generally fallen over time, which increases unfunded liabilities and required contributions, and said the systems’ current assumptions range from 5.25% to 7.1%. He noted that the committee’s materials included peer comparisons and historical charts, and that all asset classes were within target ranges. In response to a question from Senator Funky From, Gross was asked about pension spiking and whether supplemental general fund contributions could create a false sense of security in cash flow analysis; the question was raised but not resolved in the portion of the transcript provided.
MN
Transcript Highlights:
- It is a pension issue.
- It can't come from pensions. come from? It can't come from pensions.
- uh</c><01:25:43.679><c> the</c><01:25:43.920><c> pensions</c> come to pensions uh the pensions come
- Um teacher pensions, pensions, pensions, um<01:40:26.800><c> more</c><01:40:27.040><c> funding</c><01
- Or teacher pension.
WA
Transcript Highlights:
- Risk is inherent in pension systems, so it's important to remember that pension funding is a long-term
- that feed into the Pension Funding Council.
- And the Pension Funding Council, I'll talk about the State Investment Board and the Pension Funding Council's
- Thank you, Chair members of the Pension Funding Council.
- So I think that we have a well-managed pension system.
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.