Video & Transcript Research : 'retirement trust'

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AL

Alabama 2025 Regular Session

Alabama Senate Finance and Taxation General Fund Committee Mar 19th, 2025

Finance and Taxation General Fund

Transcript Highlights:
  • But the idea of the concept, I think, is that when someone goes off and they retire, then you need...
  • Retire and then you need to rehire them back.
  • Montgomery County—and it does specify the city of Montgomery, I should say—participate in the Employees Retirement
Bills: SB208, SB216, HB187
TX

Texas 89th Regular

Pensions, Investments & Financial Services Apr 23rd, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • Both the union and the Retired Firefighters Association support this bill, and most active and retired
  • I need to have a retirement that allows me to retire earlier and then look for a second pension."
  • Law enforcement agencies offer competitive retirement packages, including 20 or 25-year retirements,
  • House Bill 4029 changes this by providing a supplemental retirement pathway with in the teacher retirement
  • I've retired. I'm a senior judge now.
TX

Texas 89th Regular

Pensions, Investments & Financial Services Apr 23rd, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • Stated simply, if a state trooper retired in 2001 with a $3,000 a month retirement, that trooper's retirement
  • We represent active and retired members.
  • I'm also a former state employee, a retired state employee with over 35 years of service, and I retired
  • from the Employees Retirement System of Texas.
  • Unfortunately, it's the retirement system and the members of the trust fund that are subsidizing that
OK

Oklahoma 2026 Regular Session

Retirement and Government Resources REVISED Feb 17th, 2026 at 10:30 am

Retirement and Government Resources

Transcript Highlights:
  • The committee on retirement and government sources shall convene.
  • That when they retire, money goes into the Plan B account.
  • System Hazardous Duty Retirement Plan.
  • The bill increases the retirement benefits to 2.5% vice the 2%.
  • into that system here in the police retirement system.
AZ

Arizona 2026 Regular Session

03/25/2026 - House Ways & Means

Ways & Means

Transcript Highlights:
  • Senate Bill 1042 allows members of the state treasurer or a state retirement system to invest in virtual
  • Chairman, members, Senate Concurrent Resolution 1033 encourages the Arizona State Retirement System and
  • the Public Safety Personnel Retirement System to monitor digital asset exchange-traded funds and make
  • I think that the legislature, with this bill, will be making clear that it wants retirement systems to
  • Cryptocurrency is extremely volatile, and it is not something that we should be risking the retirements
Summary: The House Ways and Means Committee considered a series of Senate bills and one concurrent resolution, with several measures involving virtual currency, county tax liens, tax conformity, and retirement system investments. The chair announced that Senate Bill 1503 would be held at the sponsor’s request and noted this was likely the committee’s last meeting of the session. The committee also heard testimony on Senate Bill 1042, which would allow state treasurer and retirement system funds to invest up to 10% in virtual currency holdings, and Senate Bill 1043, which would allow state agencies to accept virtual currency payments through agreements with providers. Members raised concerns about volatility and government involvement, but both bills were described as permissive rather than mandatory and were returned with due pass recommendations by 5-3 votes. The committee then took up Senate Bill 1067, dealing with county cleanup assessments for blighted properties in unincorporated areas. Chairman Olson offered an amendment removing the bill’s property-tax-bill mechanism and instead preserving county liens so cleanup costs could survive a tax lien sale. County representatives and the County Supervisors Association supported the amended approach as a way to recover costs and make counties whole. The amendment was adopted unanimously, and the bill as amended passed 8-0. Senate Bill 1292, clarifying that the Public Safety Personnel Retirement System’s 5% voting-stock cap applies to publicly traded corporations, also passed with broad support after testimony from PSPRS. Two tax-administration bills prompted extended debate. Senate Bill 1180 would direct the Department of Revenue to prepare tax forms based on conformity to the Internal Revenue Code unless the legislature enacts nonconformity; Chairman Olson’s amendment limited the presumption to provisions that reduce federal adjusted gross income or taxable income, reflecting concerns about automatic tax increases. The sponsor said the bill was meant to clarify legislative intent and prevent executive overreach, while several members said the amended version was materially different from the original. The amendment and the bill as amended both passed 5-3. Senate Bill 1221 would require DOR to notify the House Ways and Means and Senate Finance chairs before adopting new interpretations or applications of tax law that adversely affect taxpayers and to testify if hearings are held; an intent amendment was adopted, and the bill passed 5-3 amid debate over the meaning of “adversely.” Finally, Senate Concurrent Resolution 1033, which encourages the Arizona State Retirement System and PSPRS to monitor digital asset exchange-traded funds and report on feasibility, risks, and benefits before the next session, was approved 5-3. Some members objected to the use of “encourage” and to the underlying cryptocurrency policy, while supporters said the resolution simply sought information and did not mandate investment. The committee then adjourned.
OK

Oklahoma 2026 Regular Session

Banking, Financial Services and Pensions Feb 10th, 2026 at 03:00 pm

Banking, Financial Services and Pensions

Transcript Highlights:
  • Thank you, chair, and thank you, members, for your trust.
  • House Bill 3313 has morphed into a fairly large retirement bill.
  • I mean, so we're saying that retirement plans have no benefit.
  • When they hit retirement age, oh, I'm perfect.
  • Retirement best practices get you around 12% of retirement contribution.
OK
Transcript Highlights:
  • Retired Chief Tony Stewart, welcome back. Welcome to the House. Mr.
  • She started with me, she left me, she decided she was going to retire—she retired twice, actually—and
  • and other retired state employees that meet on the fourth floor.
  • an act relating to the Oklahoma Pension and Retirement System.
  • teacher is Retiring at a much different level than somebody that's been retired for 25 years and what
MN

Minnesota 2025 1st Special Session

House Judiciary Finance and Civil Law Committee 2/25/25

Judiciary Finance and Civil Law

Transcript Highlights:
  • agreement, essentially create a new trust agreement and move assets from the old trust to the new trust
  • <00:19:25.280> um<00:19:25.440> essentially trust which in a trust um essentially trust
  • then go and amend that trust or terminate that trust.
  • that trust.
  • where a retired judge is fully retired where a retired judge is fully retired and<00:42:50.839><
Bills: HF747, HF360
AZ

Arizona 2026 Regular Session

02/02/2026 - Senate Finance

Finance

Transcript Highlights:
  • Another is retirement, which... One of the issues is salary, obviously.
  • Another is retirement, which.
  • Tier 1 is a 20-year retirement. Tier 2 is a 25-year retirement.
  • Chair, what—how would you describe how this means when they retire if this went into effect? Mr.
  • Chair, what—how would you describe how this means when they retire if this went into effect? Mr.
Summary: The Senate Finance Committee approved the January 26, 2026 minutes and then heard several bills dealing with tax, retirement, and property assessment issues. SB 1215, as amended, was described as a technical “comma bill” that reorganizes the list of firefighter cancer conditions presumed work-related and removes mistakenly included peace officer language; it passed 6-1. SB 1180 would codify Arizona Department of Revenue’s practice of assuming federal conformity for above-the-line income tax items when preparing forms, with supplemental instructions if the legislature later acts differently; it passed 7-0 after discussion about whether it would affect executive-ordered changes. SCR 1028, a voter-referral measure to narrow the statutory exception allowing agencies to set certain fees and assessments without a two-thirds vote, drew sharp debate over majority rule versus limits on delegated fee authority and passed 4-3. The committee also advanced SB 1292, which clarifies that the Public Safety Personnel Retirement System’s 5% ownership cap applies only to publicly traded corporations; PSPRS said the change would avoid compliance problems and unnecessary costs, and it passed 7-0. SB 1294, restoring county assessors’ authority to prorate property values for property destroyed in any manner while preserving a five-year classification benefit only for property destroyed by verifiable accident, passed 6-1. SB 1430, the annual tax corrections act, passed unanimously after DOR said it mainly removes redundant language, fixes a cross-reference, and codifies current practice. The committee then considered SB 1270, which would let CORP employers make optional supplemental retirement contributions of up to $5,000 to Tier 3 correctional officers and related employees at specified service intervals. Supporters from the FOP said it is a flexible retention tool for hard-to-staff correctional jobs, while some members worried it could add costs for counties and not solve the underlying retention problem; it passed 6-1. Finally, SB 1290, which requires advance notice and inspection reports for certain property inspections and bars repeat agricultural inspections for three years, drew strong support from farm groups and strong opposition from county assessors, who argued it would create costs, limit their ability to verify new construction, and interfere with annual valuation duties. The bill passed 4-2 with one member not voting, and the committee adjourned.
LA

Louisiana 2026 Regular Session

Retirement May 5th, 2026

Retirement

Transcript Highlights:
  • At some point, they would completely retire and draw full retirement benefits.
  • It might not be a retired teacher.
  • They might be retired, they might not be retired. But that's what my concept is. Thank you.
  • , right, are now going to be getting their full retirement benefit from the retirement system.
  • Employees Retirement System.
AZ

Arizona 2026 Regular Session

02/18/2026 - House Ways & Means

Ways & Means

Transcript Highlights:
  • House Bill 2143 specifies that the investment cap that prohibits the Public Safety Personnel Retirement
  • It's the Public Safety Personnel Retirement System, which is generally our police officers and our sheriffs
  • And, of course, we have the Elected Officials Retirement Plan, which is now closed, which some members
  • Then the state has ASRS, which is the Arizona State Retirement System, which covers your sanitation worker
  • Chair, just to follow up: in the family of all the other retirement systems we run, is this cap applied
Summary: The House Ways and Means Committee first set aside House Bill 2794 at the sponsor’s request and then took up House Bill 2290, which would clarify Arizona transaction privilege tax sourcing rules for tangible personal property by specifying that an order is received at a seller’s business location and that server location does not control sourcing. The sponsor said the bill codifies existing, historic treatment and would provide certainty for taxpayers, while the League of Arizona Cities and Towns opposed it, arguing it would be a major departure from current practice, could shift revenue away from rural communities, and could create multiple tax rates for a single transaction. The Department of Revenue said it was neutral, acknowledged ongoing ambiguity and administrative complexity, and explained that a 2023 draft ruling had been based on a legal analysis but was never finalized. Several business and association witnesses supported the bill as necessary to prevent inconsistent audits and to preserve origin-based sourcing for in-state sellers. After extended debate, the committee passed HB 2290 on a 5-3 vote, with one member absent. The committee then heard House Bill 2373, which would add a space on the individual income tax return for taxpayers to voluntarily direct part of a refund to the Veterans Donations Fund or a veterans service organization fund. The sponsor and a representative of veterans advocacy groups described it as a simple, voluntary way to support veterans organizations and local projects. No opposition was raised, and the bill was approved unanimously by the members present, 8-0, with one absent. Finally, the committee considered House Bill 2143, a technical change to Public Safety Personnel Retirement System law that would limit the 5% ownership cap to publicly traded corporations. PSPRS representatives said the change would reduce compliance costs and avoid unnecessary workarounds while maintaining existing investment safeguards and diversification rules. Members discussed that ASRS does not have the same cap and that PSPRS already has broader limits on concentration risk. The bill was presented as an administrative cleanup measure, and discussion focused on clarifying that it would not increase investment risk.
OK
Transcript Highlights:
  • A lot of Retirement systems.
  • However, it has since reduced retirement benefits.
  • Bill 3313's core purpose is to modernize and enhance the Retirement Freedom Act.
  • It makes key improvements to our existing defined contribution retirement plan structure.
  • This better aligns our retirement goals with the industry best practices.
OK

Oklahoma 2026 Regular Session

Banking, Financial Services and Pensions REVISED: HB1182 - Removed Feb 17th, 2026 at 03:00 pm

Banking, Financial Services and Pensions

Transcript Highlights:
  • House Bill 4263 would allow a retired member of the Teacher's Retirement System of Oklahoma who becomes
  • Drop to their pension retirement, similar to firefighters and FOP.
  • So the deferred retirement option plan essentially says that when a member reaches retirement age, 20
  • House Bill 2193 is a COLA for state retirement systems.
  • House Bill 2193 is a COLA for state retirement systems.
LA

Louisiana 2026 Regular Session

Retirement May 11th, 2026

Retirement

Transcript Highlights:
  • Today is Monday, May 11, 2026, and this is a meeting of the Senate Committee on Retirement.
  • HB 41, by Representative Vuit, provides relative to board membership of the firefighter retirement system
  • Professional Firefighters' Retirement System.
  • Currently, they do not have a voice at all on what goes on with the retirement system.
  • The retired members are elected.
Bills: HB41
MN

Minnesota 2025-2026 Regular Session

House Ways and Means Committee 5/18/25

Ways and Means

Transcript Highlights:
  • And there was also giving a 2% base increase in benefit to those who retired on or after December 31st
  • base increase in benefit to<00:05:00.320> those<00:05:00.479> who<00:05:00.720> retired
  • <00:05:01.280> on<00:05:01.520> or<00:05:01.840> after to those who retired
  • on or after to those who retired on or after December<00:05:02.720> 31st<00:05:03.280> of
  • c> teachers the section that is titled the teachers the section that is titled the teachers retirement
Bills: SF2884, HF1889
TX

Texas 89th Regular

Pensions, Investments & Financial Services Apr 28th, 2025

Pensions, Investments & Financial Services

Transcript Highlights:
  • It applies to participants in the employee's retirement system, the teacher retirement system, and the
  • DROP stands for Deferred Retirement Option Program, which allows a person to defer retirement when they
  • So that means you can retire and keep working. That's correct.
  • ...the funds that go into the retirement system? Representative, no, sir.
  • And gives retirees appropriate control over their own retirement benefits.