Video & Transcript Research : 'contingent annuitant'
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AZ
Keywords:
individual income tax, subtraction, Arizona Revised Statutes, retirement benefits, adoption costs, charitable contributions, health insurance, premium payment, Arizona State Retirement System, contingent annuitant, long-term disability, benefits limitations, disability compensation, social security, retirement system, elected officials, ASRS, eligibility waiver, age 65, education savings
AZ
Keywords:
retirement benefits, health insurance, premium payment, Arizona State Retirement System, contingent annuitant, long-term disability, benefits limitations, disability compensation, social security, retirement system, elected officials, ASRS, eligibility waiver, age 65, property tax exemption, disability, veterans, widows, income limits, Arizona Revised Statutes
TX
Keywords:
Texas Senate, senate rules, caucus report, legislative administration, senate officers, parliamentarian, assistant parliamentarian, secretary of the senate, sergeant-at-arms, calendar clerk, journal clerk, doorkeeper, enrolling clerk, senate staff, employee policies, leave policy, compensatory time, outside employment, staff salaries, per diem
Summary:
The Senate reconvened from recess and received a message from the House stating that the House was organized and ready to conduct business. The House also reported passage of SCR 7, which directs the State Preservation Board to begin steps to replace the Children of the Confederacy plaque with a plaque honoring victims of Texas’s convict leasing system.
The Senate then took up and adopted Senate Resolution 1, the caucus resolution offered by Senator Zaffirini, which sets recommendations for Senate operations. The officers of the Senate were then sworn in. Next, the chamber considered Senate Resolution 2, the Rules Resolution, offered by Senator Hughes; it was adopted by a 31-0 roll call vote and makes only limited changes to committee structure while retaining prior rules.
The Senate also authorized the President to appoint a five-member committee to notify the House that the Senate was organized and ready to transact business. Senator Eckhardt introduced the Doctor of the Day, Dr. Liu, a family medicine physician from Austin. With no further business, the Senate recessed until 1 p.m. Wednesday, January 22.
TX
Keywords:
Texas Senate, senate rules, caucus report, legislative administration, senate officers, parliamentarian, assistant parliamentarian, secretary of the senate, sergeant-at-arms, calendar clerk, journal clerk, doorkeeper, enrolling clerk, senate staff, employee policies, leave policy, compensatory time, outside employment, staff salaries, per diem
MN
Minnesota 2025-2026 Regular Session
House State Government Finance and Policy Committee 4/16/26
State Government Finance and Policy
Bills:
HF4074
Keywords:
retirement, pension, public employees, MSRS, PERA, TRA, St. Paul Teachers Retirement Fund Association, police and fire, correctional employees, probation officers, telecommunicators, dispatchers, 911 operators, public safety answering point, PSAP, firefighters, volunteer firefighters, paid on-call firefighters, fire relief association, state aid
CA
California 2025-2026 Regular Session
Assembly Budget Subcommittee No. 5 on State Administration May 19th, 2026
Transcript Highlights:
- The request includes budget bill language that would make expenditure of this new funding contingent
- I also just add, as Department of Finance, that is why we propose this as contingency funding and not
- And is this contingency funding in addition to what we heard earlier in the year?
- Starting with the health and dental benefits for annuitants, this proposed item for 9650 will be increased
- by $17.6 million ongoing to reflect the increases for health and dental premiums for annuitants.
CA
California 2025-2026 Regular Session
Assembly Budget Subcommittee No. 5 on State Administration May 19th, 2026
Transcript Highlights:
- The request includes budget bill language that would make expenditure of this new funding contingent
- That is why we propose this as contingency funding and not an actual budget request itself.
- And is this contingency funding in addition to what we heard earlier in the year?
- So starting with the health and dental benefits for annuitants, this proposed item for 9650 will be increased
- by $17.6 million ongoing to reflect the increases for health and dental premiums for annuitants.
Summary:
The Assembly Budget Subcommittee 5 on State Administration held a May Revise hearing focused on state administration proposals, with the chair noting no actions would be taken and all items would remain open. The committee heard presentations on a range of budget proposals, including technical adjustments for the Governor’s Office of Service and Community Engagement and the California Workforce Development Board, security and election-related funding for the Secretary of State, modernization and loan-backfill requests for the Department of Consumer Affairs, and multiple Employment Development Department updates covering EDD Next, UI and DI/PFL benefit estimates, workforce funding, and an EMT training reappropriation.
Several items drew discussion from the LAO and committee members. The LAO generally supported technical or modernization items such as PERB’s implementation requests, GoServe’s College Corps adjustment, the Secretary of State’s security and HAVA grant items, and the Board of Pharmacy modernization proposal, but raised concerns about the Bureau for Private Postsecondary Education’s proposed $10 million General Fund backfill and interest-free loan language. For EDD, the LAO flagged the size of the DI/PFL benefit adjustment and the unusual structure of the document management system proposal within EDD Next, while EDD said the changes reflected higher participation and benefit levels after SB 951 and ongoing modernization needs.
The Department of Industrial Relations drew the most extensive questioning. It proposed funding for legal unit reclassifications, EAMS and Cal/OSHA data modernization, a new Cal/OSHA emerging technologies unit, a COYA reappropriation, and trailer bill changes requiring electronic payment of employer assessments and adjusting the Workers’ Compensation Appeals Board timeline. Members pressed DIR on high vacancy rates, long wage theft and workers’ compensation backlogs, low collection rates for fines, and the need for clearer workload and outcome measures. DIR said the requests were intended to improve efficiency, support audits and corrective action plans, and better address emerging workplace risks, while the LAO said the workload drivers behind delays remain unclear. The hearing also included support for CalHR’s employee assistance program consolidation and CDT’s proposal to expand “Poppy,” a statewide generative AI assistant for state employees.
WA
Transcript Highlights:
- It's annuitized at retirement and then plugged into this equation to calculate SRP benefits.
- The number of actives is growing somewhat on par with the number of annuitants, both growing at about
- In terms of head counts, we saw the number of actives grow by about 17,000, and the annuitants grow by
- So fairly close in terms of new actives and new annuitants.
- So fairly close in terms of new actives and new annuitants.
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.
WA
Washington 2025-2026 Regular Session
Pension Funding Council Jun 23rd, 2026 at 02:00 pm
Pension Funding Council
Transcript Highlights:
- It's annuitized at retirement. This hypothetical account is accumulated over a member's career.
- It's annuitized at retirement and then plugged into this equation to calculate SRP benefits.
- The number of actives is growing somewhat on par with the number of annuitants, both growing at about
- In terms of head counts, we saw the number of actives grow by about 17,000, and the annuitants grow by
- So fairly close in terms of new actives and new annuitants.
TX
Transcript Highlights:
- is one of the other reasons for this increase in premiums: the agency is required to maintain a contingency
- The agency is required to maintain a contingency reserve fund balance.
- Just so you get a sense of that, around 92% of the annuitants that are receiving that are getting less
- So again, it's about 28,000 annuitants that are eligible for that.
- But the 8% is because we're actually starting to deplete our contingency reserve this year.
Bills:
SB 1
Keywords:
campground safety, youth camp regulations, flood safety, emergency evacuation, health and safety standards
Summary:
The committee heard budget presentations from the Legislative Budget Board and agency officials on several agencies, starting with the Texas Historical Commission. LBB described a large biennial reduction driven mainly by the removal of one-time funding and discussed capital projects, rider changes, and exceptional items including Presidio La Bahia and the National Museum of the Pacific War. Senators asked about heritage trails, courthouse grants, unexpended balance authority, and the status of historical-site funding. Historical Commission leadership emphasized preservation, courthouse restoration, heritage tourism, coordination with the Alamo and other Texas Revolution sites, and requested additional IT, staffing, and vehicle funding. No votes were taken.
The committee then reviewed the Pension Review Board and the Employees Retirement System. The Pension Review Board’s budget was largely unchanged aside from IT maintenance and salary adjustments, with an exceptional item for additional IT enhancements. Members discussed the Dallas Police and Fire Pension System’s funding dispute and the need for a workable restoration plan. ERS presented a much larger budget, including funding for the retirement system, the group benefits plan, and the legacy payment intended to reduce unfunded liability. Senators focused heavily on pension investment returns, benchmark comparisons, and rising health-care costs, especially pharmacy spending driven by GLP-1 drugs; ERS said the plan covers about 540,000 lives and that premiums would rise 8% while benefits remain unchanged. ERS also said it had no exceptional items, and committee members requested more detailed benchmark information.
The committee also heard from the Texas Emergency Services Retirement System and the Cancer Prevention and Research Institute of Texas. TESSORS reported an unfunded liability, an infinite amortization period, and requested additional state support, staffing, and IT funding, including a statutory change to allow a higher contribution level; the agency warned that without more funding it may have to cut benefits. CEPRIT’s presentation covered its bond-funded cancer research and prevention portfolio, revenue-sharing from funded projects, and a request to increase salary limits for its CEO and chief scientific officer. Senators questioned CEPRIT’s accomplishments and return on investment, while CEPRIT cited screening, prevention, and research outcomes, including tens of thousands of detected cancers and precursors and hundreds of thousands of first-time screenings. The meeting ended after these presentations and questions, with no recorded committee action or vote.
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 03/17/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- Chair. annuitant earnings. Thank you, chair. annuitant earnings. Thank you, chair.
- Um, I don't know if we know the breakout of each school district, how many reemployed annuitants they
- Um, I don't know if we know the breakout of each school district, how many reemployed annuitants they
- Um, I don't know if we know the breakout of each school district, how many reemployed annuitants they
- Um, I don't know if we know the breakout of each school district, how many reemployed annuitants they
Summary:
The commission first approved the minutes and then took up several pension omnibus items. Representative Rapinski’s item, related to an I-RAP issue, was moved ahead of the agenda and passed without further information after members noted the State Board of Investment and Minnesota State had not identified additional facts; the bill, as previously amended, was recommended for inclusion in the 2026 Pension Omnibus Bill. The committee also corrected a procedural issue on Senator Gustafson’s bill, SF 3897/HF 3703, after realizing an amendment referenced earlier belonged to a different bill; the motion was restated without the amendment reference and the bill was then recommended to pass and be incorporated into the omnibus bill.
The main policy discussion centered on SF 3897/HF 3703, which would change how terminating firefighter relief association plans value benefits for firefighters under age 50. Senator Gustafson said the current statute can unfairly reduce benefits by requiring present-value discounting and that the bill would instead allow benefits to be based on accrued benefit under the plan formula, while still leaving relief associations flexibility to use present value if they choose. Staff confirmed the bill applies only to relief associations under chapter 424B, not PERA or the statewide plan. Senator Rasmussen raised concerns about consistency between SVF and non-SVF reliefs and about differing treatment on termination; the bill author acknowledged the difference. The committee ultimately voted to recommend the bill for inclusion in the omnibus pension bill.
The final major item was House File 4162, as amended by an A1 amendment, which requires employers of reemployed annuitants in TRA to make employer contributions during reemployment, including Minnesota State Colleges and Universities employees covered under section 354.445. Representative O’Driscoll argued the bill would direct existing education-formula pension dollars to TRA, prevent districts from using those funds elsewhere when retirees are rehired, and keep the employee neutral because the annuitant’s benefit would not change. Supporters said the measure would help pension funding and address situations where districts rehire retired teachers, often in hard-to-fill specialties. Opponents, including Senator Rasmusson, questioned the added cost to school districts, citing an estimated $5.385 million in annual TRA revenue from the change and warning it could reduce districts’ ability to hire or retain staff. After discussion, the committee had not yet taken final action on this item in the portion of the meeting provided.
TX
Transcript Highlights:
- John Posey: ... required to maintain a contingency reserve fund balance, so statute requires them to
- So just to give you a sense of that, around 92% of the annuitants receiving the COLA are getting less
- So again, it's about 28,000 annuitants that are eligible for that.
- The 8% increase is primarily due to the fact that we are starting to deplete our contingency reserve
- So, the 8% increase is because we're actually starting to deplete our contingency reserve this year.
NM
New Mexico 2025 Regular Session
IC - Investments and Pensions Oversight Oct 8th, 2025
Investments & Pensions Oversight Committee
Transcript Highlights:
- An active member is someone who is working and contributing to a pension plan, and an annuitant, of course
- The ratio of actives to annuitants.
- the 70s and 80s for public pension plans, there were six, seven, or eight active members for every annuitant
- If you have a very low ratio of actives to annuitants, that means The relative proportion of individuals
- To annuitants.
TX
Texas 89th Regular
Senate Committee on Finance (Part II) Jan 29th, 2025
Transcript Highlights:
- is one of the other reasons for this increase in premiums: the agency is required to maintain a contingency
- And you can see from this chart, the agency estimates that without these additional funds, that contingency
- Just so you get a sense of that, around 92% of the annuitants that are receiving that are getting less
- So again, it's about, you know, 28,000 annuitants that are eligible for that.
- But the 8% is because we're actually starting to deplete our contingency reserve this year.
Summary:
The Senate Finance Committee heard budget presentations for the Texas Historical Commission, the Pension Review Board, the Employees Retirement System (ERS), Social Security and benefit replacement pay, the Texas Emergency Services Retirement System (TESSRS), and the Cancer Prevention and Research Institute of Texas (CPRIT). The Legislative Budget Board outlined recommendations and major changes for each agency, including reductions tied to one-time projects at the Historical Commission, continued funding for courthouse grants, heritage trails, and Holocaust/genocide education, as well as new or modified riders and capital items. For the pension-related items, LBB described funding changes for PRB, ERS, Social Security, and TESSRS, including ERS health plan cost growth driven largely by pharmacy costs, the status of pension funding reforms, and TESSRS’s request for additional state support to address its unfunded liability and staffing needs.
Members asked extensive questions about the Historical Commission’s one-time funding, unexpended balance authority, courthouse preservation, the Presidio La Bahia and National Museum of the Pacific War projects, and coordination of Texas history messaging across sites such as the Alamo, San Jacinto, Washington on the Brazos, and other heritage locations. The Historical Commission chair emphasized heritage tourism, economic development, and the need for continued investment in historic sites, staffing, IT modernization, and vehicles. On the pension items, senators discussed PRB oversight of local systems, including the Dallas police and fire pension situation, and ERS investment returns, benchmark comparisons, and rising health costs. ERS officials said the plan remains well funded overall, noted a 2021 cash balance reform and a planned supplemental legacy payment, and explained that GLP-1 drugs such as Ozempic and Mounjaro are a major driver of pharmacy spending; they also said the agency is working with the Texas Pharmacy Initiative and that rebates are contractually returned to ERS.
For TESSRS, LBB and agency staff said the system serves volunteer and part-paid emergency personnel, is facing an infinite amortization period, and is requesting additional appropriations, staffing, and IT funding, along with a statutory change to allow an actuarially determined state contribution. The agency said it may otherwise need to cut benefits for volunteer firefighters. For CPRIT, LBB reported about $600 million in recommended funding for the biennium and a 10-FTE increase, while the agency described its $6 billion voter-approved program, $3.75 billion in grants awarded to date, and $10.4 million in revenue sharing since 2011. CPRIT’s only exceptional item was a request for a 10% salary increase for two exempt positions. No committee votes or formal actions were taken in the transcript.
TX
Texas 89th Regular
Appropriations - S/C on Article III Feb 24th, 2025
Appropriations - S/C on Article III
Transcript Highlights:
- This is mostly due to and $5 billion in contingency funding, as well as some current law updates as well
- And that decrease is partially offset by an additional $1 billion. and contingency funding for an education
- funding health Bill 3 activities at TEA started in the 24-25 biennium and a 400 million dollar contingent
- The following riders provide contingent appropriation.
- Of course, our most important one is providing retirement benefits to our annuitants.
MN
Transcript Highlights:
- Currently, re-employed annuitants, which is someone who has worked as a teacher, as a police officer,
- Currently Currently Currently re-employed<01:07:29.760>
annuitants, <01:07:30.559>which - annuitants, which is someone who<01:07:31.760>
has <01:07:32.000>worked <01:07:32.240>< - to pay in as if as if those annuitants to pay in as if as if those employees<01:08:22.640>
were - , even though they'll be annuitants, even though they'll be generating<01:18:29.040>
no <01:18: - , even though they'll be annuitants, even though they'll be generating<01:18:29.040>
MN
Minnesota 2025-2026 Regular Session
Legislative Commission on Pensions and Retirement - 02/24/26
Minnesota Senate Floor Meeting
Transcript Highlights:
- plan. uh the 186,000<00:31:04.159>
activives, <00:31:04.960>140,000 <00:31:05.600>annuitants - , 186,000 activives, 140,000 annuitants, 186,000 activives, 140,000 annuitants, and<00:31:06.960>
- We refer to them as our re-employed annuitants.
- We refer to them as our re-employed annuitants.
- We refer to them as our re-employed annuitants.
WA
Washington 2025-2026 Regular Session
Select Committee on Pension Policy Apr 21st, 2026 at 10:00 am
Select Committee on Pension Policy
TX
Transcript Highlights:
- And so the question surrounded private school. because we talked about the $1 billion that is a contingency
- So there's 3.5 billion in a contingency rider for property tax.
- Section D is, of course, the contingency funding provided in House Bill 1.
- The 3.5 is the additional contingency beyond that amount that I just referenced. Perfect.
- You'll see that about 23% of our annuitants.
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.
TX
Transcript Highlights:
- And so the question surrounded private school. because we talked about the $1 billion that is a contingency
- So there's 3.5 billion in a contingency rider for property tax.
- Section D is, of course, the contingency funding provided in House Bill 1.
- It's new. relief based on a previous legislation, and then contingent is an additional 3.5 based on what
- The 3.5 is the additional contingency beyond that amount that I just referenced. Perfect.