Video & Transcript Research : 'actuarial study'

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MN

Minnesota 2025 1st Special Session

House Ways and Means Committee 3/3/25 - Part 2

Ways and Means

Transcript Highlights:
  • They changed that all of a sudden and went to an actuarial study, so it depends on the version of the
  • different ways of costing out the bill, including a microsimulation process in 2022 and then an actuarial
  • study.
  • He said they changed that all of a sudden and went to an actuarial study, so it depends on the version
Bills: HF11
KY
Transcript Highlights:
  • Um, these are the full actuarial studies. Aaron and I have looked through every page of these.
  • Um, these are the full actuarial Um, these are the full actuarial studies.<00:12:22.880> Aaron
  • But the actuary also recommended in that experience study that for a budgeting purpose, TRS use a common
  • actuarial practice called direct rate smoothing. study they recommended study they recommended that<
  • The actuary just concluded a two-year economic assumption study and made no recommended changes.
Summary: The meeting began with roll call, confirmation of a quorum, and approval of the prior minutes. The main presentation was from KPPA officials Ryan Barrow and Erin Saratt on the annual actuarial valuations for the retirement and insurance systems. They said the systems’ funding status improved overall, with three of five insurance funds fully funded, CERS hazardous dropping from over 100% funded to 90.9% because of premium changes, and KRS receiving $650 million in supplemental funding over the biennium. They also reported strong investment returns above assumed rates, higher payroll and membership counts, and resulting actuarial losses tied to higher salaries and premiums, especially on the insurance side. Members asked several questions about what drove the actuarial losses and whether legislation affected them. KPPA said the CERS insurance loss was driven by premium increases and Senate Bill 10, while the pension-side losses were largely due to higher payroll and benefits for Tier 1 and Tier 2 members. They explained that new Tier 3 employees are designed to add no additional unfunded liability, and that the state administers the systems but does not directly control all hiring. Questions also focused on retiree health premiums, which KPPA said rose about 15% for non-Medicare retirees and 38% for Medicare retirees, with the increase attributed to utilization, prescription costs, and the Inflation Reduction Act. The committee then heard from TRS Deputy Executive Secretary and General Counsel Beau Barnes on the 2025 TRS actuarial valuation. He reported that the Retirement Annuity Trust and Health Insurance Trust both received full funding, the retirement trust’s funded ratio improved to 61%, TRS 4 remains well funded with no liability, and the health insurance trust improved to 89.1%. Barnes said TRS is on track to fully fund legacy liabilities within the amortization period, with 2044 as the point when the system reflects 100% funding and 2046 as the last year needing additional dollars for the legacy liability. He also explained that lower assumed investment returns and updated mortality assumptions increased liabilities, but that TRS uses direct rate smoothing for budgeting purposes. At the end of the meeting, the chair circulated a proposed set of “do’s and don’ts of pensions,” emphasizing that future legislation should not create unfunded liabilities. Barnes also noted he would later discuss several legislative proposals for the 2026 session, but the transcript provided ends before that discussion or any votes on those proposals.
TX

Texas 89th Regular

Border Security Mar 20th, 2025

Border Security

Transcript Highlights:
  • I completely agree with the idea of the study.
  • Do you intend that the study also look at...
  • I agree with you a study needs to be done.
  • That 2006 study was really insightful.
  • of international immigration and not a study of illegal immigration, or at least a study of international
Bills: SB825
Summary: The Senate Committee on Border Security heard testimony on Senate Bill 825 by Senator Middleton, as substituted, which would require an annual or biennial study of the economic, environmental, and financial impacts of illegal immigration in Texas. Middleton said the bill is intended to provide lawmakers with comprehensive data on costs to law enforcement, health care, education, infrastructure, and taxpayers, and to support possible federal reimbursement claims. Several senators, including Hinojosa and Eckhardt, agreed that a study is needed but raised concerns about bias, the scope of the study, and whether the Comptroller’s Office rather than the governor’s office should conduct it. Middleton argued the governor’s office was the best coordinating entity because it could direct multiple agencies to provide data, while Hinojosa and others emphasized the Comptroller’s expertise and prior 2006 study. Public testimony was generally supportive of the idea of a study but critical of the bill’s framing. Sarah Cruz of the ACLU of Texas said the study should be a full cost-benefit analysis and warned that focusing only on costs could create an anti-immigrant narrative. Danny Woodward of the Texas Civil Rights Project also supported the concept but recommended moving the study to the Comptroller or, alternatively, creating a neutral commission. Jaime Pointe of Every Texan likewise supported updating the 2006 analysis and said state agencies should be able to cooperate with a governor-led study. Resource witnesses from the governor’s office, HHSC, TEA, OCA, TDCJ, and DPS explained that data collection would be uneven across agencies. HHSC and TEA said they often do not collect immigration status and, in TEA’s case, federal law limits schools from requesting such information; OCA and TDCJ said they could provide only partial or indirect data unless new reporting requirements were added. DPS said it already has Operation Lone Star data but would need to collect additional information if tasked with the broader study. The chair asked the governor’s office to provide a follow-up answer on separation-of-powers and related authority questions by the following Tuesday, and the committee recessed subject to the call of the chair without taking a vote on the bill.
TX
Transcript Highlights:
  • I agree with you, a study needs to be done.
  • Try to have a comprehensive study about that.
  • We do support the idea of a study, and we think it's long overdue, that 2006 study.
  • to oversee this study.
  • of international immigration and not a study of illegal... legal immigration or at least a study of international
Bills: SB825
ND

North Dakota 2025-2026 Regular Session

Senate Judiciary Apr 8th, 2025 at 09:00 am

Judiciary

Transcript Highlights:
  • The study has a few objectives.
  • to legislators; study reentry to the job force; and study how to protect former victims.
  • study reentry to the job force; and study how to protect former victims.
  • This is looking at a study. It's looking at the study of the terminology. Right.
  • There's 10 shall studies and 35 shall consider studying.
Bills: HCR3028
Summary: The Judiciary Committee heard and acted on several measures related to human trafficking, criminal procedure, and child protection. It first took up House Concurrent Resolution 3028, which would direct a legislative study of human trafficking victim services and re-entry programs. The sponsor and supporters emphasized helping victims rebuild basic life and workforce skills and better understanding existing services; YouthWorks and the North Dakota Catholic Conference described current programs and the trauma victims face. The committee discussed overlap with other interim studies, then voted unanimously to give the resolution a due pass, with Senator Braunberger designated to carry it. The committee then considered House Bill 1263, concerning sealing criminal records, and moved it forward without changing the House version after members noted the House had removed presumption language and reduced the waiting period. That bill also received a due pass recommendation. Next, House Bill 1226, which revises the state’s mask law for public places, drew testimony from the sponsor and an expert witness who argued that masking to conceal identity during group criminal conduct undermines public safety and law enforcement. Members debated the House-added requirement that law enforcement request unmasking; the committee adopted an amendment to remove that language, then passed the bill as amended, with Senator Luick to carry it. Finally, the committee heard House Bill 1410, a study resolution on criminal conduct against children, including child sexual abuse, physical abuse, neglect, and the use of artificial intelligence in exploitation crimes. Supporters from the Child Sexual Assault Prevention Task Force, YouthWorks, and the Children’s Advocacy Centers of North Dakota said the study would help update outdated terminology, review AI-related issues, and improve investigation and prosecution tools. The committee approved the resolution with a due pass recommendation, and Senator Cory was assigned to carry it. The committee also received a brief report that, in a quick review, there were 82 active studies introduced, including 10 shall studies and 35 shall-consider studies, with limited overlap identified beyond the trafficking-related measures.