Public Retirement & Social Security Programs-Joint
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Bills discussed (6)
| Bill | Title | Sponsor | Status |
|---|---|---|---|
|
HB1068
Act 311
· 3 mentions in agenda, transcript
Matched: “…by Committee Members REGULAR AGENDA Number Sponsor Subtitle HB1068 M. McElroy TO INCLUDE EMPLOYEES OF A METROPOLITAN PORT AUTH…”
|
TO INCLUDE EMPLOYEES OF A METROPOLITAN PORT AUTHORITY IN THE MEMBERSHIP OF THE ARKANSAS EMPLOYEES' … | M. McElroy | Notification that HB1068 is now Act 311 |
|
HB1268
Act 450
· 2 mentions in transcript, agenda
Matched: “…ank you so much, committee. All right. Next up we have, uh, House Bill 1268, Representative Unger, you're recognized to present your bi…”
|
TO ALLOW A PUBLIC TRANSIT AUTHORITY TO BECOME A PARTICIPATING PUBLIC EMPLOYER AND FOR ITS … | Unger | Notification that HB1268 is now Act 450 |
|
HB1325
Act 286
· 2 mentions in transcript, agenda
Matched: “…sentative Cameron Cooper, District 57. I bring to you today House Bill 1325, which would allow an ARs member to receive service credit…”
|
TO ALLOW A MEMBER OF THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO RECEIVE SERVICE CREDIT … | C. Cooper | Notification that HB1325 is now Act 286 |
|
HB1347
Act 363
· 1 mention in agenda
Matched: “…ALTERNATE RETIREMENT PLAN TO MEET ELIGIBILITY REQUIREMENTS. HB1347 Warren TO ALLOW THE ARKANSAS TEACHER RETIREMENT SYSTEM TO P…”
|
TO ALLOW THE ARKANSAS TEACHER RETIREMENT SYSTEM TO PAY AN ANNUITY OR BENEFIT OWED TO … | Warren | Notification that HB1347 is now Act 363 |
|
HB1348
Act 364
· 1 mention in agenda
Matched: “…CIAL NEEDS TRUST ESTABLISHED FOR THE BENEFIT OF THE PERSON. HB1348 Warren TO AMEND THE LAW CONCERNING SURVIVOR BENEFITS FOR TH…”
|
TO AMEND THE LAW CONCERNING SURVIVOR BENEFITS FOR THE DEPENDENT CHILD OF A MEMBER OF … | Warren | Notification that HB1348 is now Act 364 |
|
SB79
· 1 mention in agenda
Matched: “AGENDA (Revised 2/28/25 @ 2:36 PM) Removed Bill SB79 Joint Committee on Public Retirement and Social Security Pr…”
|
TO AMEND THE LAW CONCERNING THE ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND THE STATE POLICE … | Crowell | Died in Senate Committee at Sine Die adjournment. |
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- October 2, 2026
Representative Steve Unger
Unverified
1:06
I'll do that again. Chair sees a quorum. Glad I was able to wake up my co-chair there with the
gavel. So glad to have everybody here today. We've got uh first item of business is consideration of renewal of the actuarial contract with Osborne Carrero and Associates Incorporated. Uh, I'd like to, all right, they, they're already at the table, so if you would, uh, introduce yourselves and we'll discuss the contract.
Speaker 8
1:38
Thank you, Mr. Chair. Jill Thayer, Bureau of Legislative Research. And
I'm Jody Carrero. I'm with Osborne Carrero and Associates. All right.
Speaker 13
1:50
Jill, do you want to begin? Discussing the contract I believe you all have in your meeting packets, a copy of the proposed contract. It's time to, uh, renew with your actuary for this committee, um, Osborne Carrero and Associates. This contract is identical to the current contract that we have.
Our current contract will expire on June 30th of this year. And this one is a renewal for an additional 2 years that will begin July 1st of this year and go through June 30th of 202. the maximum contract amount is the same at $175,000. Osborne Carrero, Bills us, um, based on per project and also hourly rates. Those are all included also in your packet and we would be happy to
Representative Mark Perry
Unverified
2:41
take any questions do we have any questions of either uh Jill or Uh, Jodi All right.
Let's see. All right. Representative Perry, you're recognized. Thank you, Mr. Chairman. I know this is a slow time of year for you, for you, Mr. Carroll. Can you, can you give us a, uh, an email of what you've done for the last week.
We need a report of, you know, just to make sure that you are working. I'm
just kidding, but the last week, yeah. Um, a motion at the proper time. OK. Any
Representative Steve Unger
Unverified
3:26
other? Questions I would just say that it's uh
Senator Kim Hammer
Unverified
3:31
Uh oh All right, Senator Hammer, you're recognized. Thank you. Jody, I don't know, been
about 4 terms ago. The question was raised about, uh, about you and
the longevity of what you've been doing this was, was
Speaker 29
3:47
there any other, anybody else that bid on this? Or we, we
Speaker 8
3:51
didn't put it out, did we, it was, uh, 5:15, yeah, so it was, it was, yeah, 2015. And there were a few other bids. There were 2 other firms that that were selected to present. And so we were, we were the only Arkansas firm and, and we presented against the two national firms that were here at that time.
Senator Kim Hammer
Unverified
4:14
When we were selected. And the reason I'm bringing that up is because you've been doing it a long time and. The Um The question of the fact that you are an in-state actuary, I think does make it does make a difference. This isn't, uh, this is anything negative. This is a positive, you've been doing it for a long time and you've always done good work and, uh, there was a fair process whereby you, you got your name in the loop and I just want to point that out.
Yes sir, thank you. And I will say that, uh, this Thayer did.
Representative Steve Unger
Unverified
4:47
Ask me if we wanted to, uh, look at the outside. I told her I was very, Content with what we had had, uh, through the years and did not see a need to do that. So if anyone wants to object to that, uh, be glad to hear it. OK. Any other discussion? OK, uh, And no other discussion, uh, Representative Perry, I will entertain your motion then.
Alright, uh, Motion to approve. All right. Got a 2nd Uh, any discussion. Uh, do we have anybody signed up to speak for or against. All right. OK. All those
in favor say aye. Any opposed same sign. Motion carries congratulations and uh you will take this and it needs to go to ALC as
Speaker 13
5:48
I understand, Jill. Yes, our legislative council
will have the final approval at their first meeting after the session. OK, that
sounds great. Thank you very much, appreciate it. Let me
Representative Steve Unger
Unverified
6:06
do it. We appreciate you, Jody. Thank you for being here, Jill. All right, let's move on. House bill. HB
1068, uh, Representative McIlroy. You're recognized to present your bill and ask anyone to come to the table with you.
Representative Mark D. McElroy
Unverified
6:37
Thank you, Mr. Chair and committee. Uh, House Bill 1068, uh, just makes, uh, 10 or less. Uh, Metropolitan Port Authority employees, which are, uh, Uh, port, uh, operators on the Mississippi River, uh, make them eligible for the APRs program. And, uh, according to, uh,
The fiscal impact in total, is our opinion that the House Bill 1068 would have no Adverse fiscal impact on ARs. And uh With that, I, I would
Representative Steve Unger
Unverified
7:20
entertain any questions. Cages committee have any questions for Representative McIlroy. Jody, do you have
Representative Mark Perry
Unverified
7:30
anything that you want to add to this? OK
Representative Steve Unger
Unverified
7:39
All right, OK. Is there anyone in the audience who would like to Uh, speak for. This bill Anyone would like to speak against it. OK. All
right. I would be You're recognized clothes for your bill. Um,
Representative Mark D. McElroy
Unverified
8:00
I would appreciate a good vote on this. These are just, uh, hardworking people that work on
the Mississippi River and uh uh this will give them uh uh uh added incentive to work on the river on those cold and dangerous days and, uh,
I appreciate a good vote. I apologize. Representative Andrews, you had a
Representative Wade Andrews
Unverified
8:27
question. You're recognized. Thank you, Mr. Chair. Uh, Represent McIlroy, I'm just, I'm just kind of curious like, um, I know it's just a handful of employees working here, but how many years they've been working and how far away from retirement are they
and what's the stipulations gonna be for how long they retire and how much service credit
Representative Mark D. McElroy
Unverified
8:47
they're gonna have to potentially buy and whatnot. You'll have to ask someone smarter
than me It's just uh, uh, all I know is it's, it's less than 10 employees and, uh, And, you know, they belong, uh at the uh uh port at Arkansas City and, and then at, uh, West
Memphis, and Helena, and I think Osceola, so they're scattered out and, and I, I couldn't answer that with any,
Speaker 50
9:17
you know, uh, authority at all. Follow up. You're recognized
Representative Wade Andrews
Unverified
9:22
for a follow up and um, so basically we, we let them get on the program the in the system, and this can
Representative Mark D. McElroy
Unverified
9:31
be from like starting from day one. Yeah, my, my understanding and they'll be paying into the system. The employers will, so yeah, it.
Representative Mark Perry
Unverified
9:42
OK, thank you. All right, Jody, do you want to come to the table and just give a little clarification on that. I'm
sorry. All right, hold on, Jody. We've got a motion on the floor, so. Oh, we don't. I thought we OK. Come on, Jody.
Speaker 8
10:13
I, I think maybe the clarification on, uh, the I'm, I'm still Jodi Carrero, uh, actuary for the committee. Sorry about that. Uh, the, the clarification when, when a new employer, say a city votes to join APERS or, uh, one of these approved things votes to join APERS. Everybody joins with zero service as if that was their first day of work. So there's no past service, and that's why it doesn't cost the
system anything. But all of those employees once they're members will have an opportunity to purchase service, and if they purchase their service that they have with the Port Authority in this case. Then they would purchase that at an actuarial equivalents that a formula that is supposed to keep the system whole. Uh, and so that, that, that's, that's why it doesn't cost
Representative Steve Unger
Unverified
11:15
anything. That's the cost part of that. OK. All right, we have
Senator Kim Hammer
Unverified
11:21
a couple more questions, uh, Senator Hammer, you're recognized for a question. Thank you for, uh,
and on that. On that, the affordability of them being able to purchase back those service years. Can you? I mean, it's kind of pricey, isn't it, if I remember right, or is it as in comparison to the other systems or any system at all. No, all the.
Speaker 8
11:47
There are some exceptions, but from several years ago now, all of the systems basically all service purchases with a couple of minor, there's always an exception, as we know, but all service purchases are done supposedly at an actuarial equivalent. And so all those service purchases that are available are pretty expensive. 25,000 per year service for somebody at the average.
Senator Kim Hammer
Unverified
12:14
Salary. Right, so the likelihood
of anybody exercising that. Pretty, pretty thin
Speaker 8
12:19
unless they've been saving for retirement and want to convert it to APRs that there's probably not you're
Speaker 59
12:24
correct. There's probably not gonna be a lot. All right, I got emotion proper
Senator Jim Dotson
Unverified
12:37
time. All right, uh, Senator. Uh Dotson, you're recognized for a question. Thank you, Mr. Chairman. So, If I
understand it correctly, somebody would come in with zero service credit unless they've
been in had an Apers prior to coming in and this particular, uh, uh, newly added thing. And so, um, if they had 0 on day one, they would have to purchase 28 years at the actual service times that much per year in order to get Into Apers to be fully retired, uh, if they were just nearing retirement age. Is that correct?
Speaker 8
13:20
That that is how I understand it. If someone would had been working there their whole career and was wanting to
Speaker 59
13:25
retire, uh, that they would have to purchase service to be able to do that, and they'd
Senator Jim Dotson
Unverified
13:30
have to purchase quite a bit of service, right? And so, and that's, that's if,
if I'm. While I'm, while you're sitting there, that's the same for both this and the next bill that are just adding a different category will, I will
Speaker 8
13:42
hope that I would answer the question exactly the same way on the next bill. Yes. Well, I guess.
Senator Jim Dotson
Unverified
13:52
My understanding of it though if we're adding both of these things to it, it's not gonna affect the system
Speaker 8
13:59
one way or another by doing more than one. No, and, and frankly, and, and it's the reason I have it at the bottom paragraph. The, the one, the only thing that causes me any, take a minute to think about this is, are these truly be considered governmental employers so that we wouldn't mess up the status of vapors in any way, and it would, I mean, it's an intergovernmental agency. It would, it would clearly be a
governmental employer added to the system. So
Senator Jim Dotson
Unverified
14:28
So whether it's 10 employees or Eventually 150 employees in In each of these categories as they grow over the next 1020,
30, 40 years or whatever, they're gonna just be added into this as another category of vapors. That's correct. Thank you. And
Jody, they would have to meet the vesting requirements just like any other employee
Speaker 73
14:53
getting into the system, right? Is correct. OK.
Representative Mark Perry
Unverified
14:56
All right, any other questions? All right, Senator Hammer, we'll take that motion. All right, we have a motion to pass. Do I have a second? All right. OK. Any
Representative Steve Unger
Unverified
15:11
other discussion? Do we have anybody signed up to speak? Anybody in the audience like to speak for? Anyone like to speak against.
Representative Mark D. McElroy
Unverified
15:23
All right, you're, uh, recognized to. closed now.
Representative Steve Unger
Unverified
15:28
I am closed, and I appreciate a good vote. All those in favor say aye. He opposed same sign.
Congratulations, your bill has passed. Thank you so much, committee. All right. Next up we have, uh, House Bill 1268, Representative Unger, you're recognized to present your bill.
Representative Steve Unger
Unverified
15:59
You would introduce yourself and anybody you'd like to have come to the table with you. Thank you, Mr. Chair, Committee Representative Steve Unger, District 19. Uh, a similar bill basically to allow public transit authorities, public transit employees. To join the list uh which already exists of non-state employees in order to be a part of the APER system. Same thing. If, uh, if this is
signed in the law and you join Ozark Regional Transit, which happens to be the transit authority I know most about. Which we, we depend on so much. Um If you enter day one, then you would get the full benefit of a career with that, but if you want to buy into the system, I asked that question and they can uh let you talk to
an AR's benefits counselor. Uh, have the same. Uh, paperwork from uh APRs and the actuary saying no impact.
OK, do we have any questions by the committee? All right. Is there anyone in the audience who would like to speak. For the uh pill. Anyone who would like to speak against the bill. All right. Uh, you're recognized to close
for your bill. Colleagues, this is a bill that would help a lot of areas that use public transportation for the elderly, for students, for
people who, uh, can't afford to buy a car to get to work, to get
to school, to get to their medical appointments, and I would
appreciate a good boat. OK. All right, we have a motion to pass. Have a second All right. All those in favor say aye, and he opposed same sign. All right, motion carries. Congratulations, your bill has passed.
Thank you, Mr. Chair. Thank you, colleagues. All right. Is Representative Cooper here.
There he is All right, Representative Cooper, if you'll come to the table and ask anyone to join you that you'd like to have at the
table. You'll introduce yourself. You're recognized to
Representative Cameron Cooper
Unverified
18:29
present your bill. Thank you committee. Representative Cameron Cooper, District 57. I bring to you today House Bill 1325, which would allow an ARs member to receive service credit from service.
Under an alternate retirement plan. Like the majority of my bills, this is a constituent driven bill. It was brought to me by one of the citizens in my district. My constituent is a dedicated state employee, having worked approximately 25 years for the state of Arkansas. He started his career at UAMS where he worked at the library reference desk for nearly 2 years before transferring to the Department of Human Services. Recently, while working on retirement planning, he discovered that his time at UAMS
would not count toward his total years of service. Because UAMS is under a different retirement system. While working there, he did not make any contributions to that plan, and the contributions that were made by UAMS on his behalf. Were forfeited because he did not work there long enough to be vested in their system. Essentially he has nothing to show for those nearly 2 years of service of working for the state. Now I want to make clear that there are other state employees who also fall into this
category. This is not just limited to my constituent. I contacted ARs about this situation and after some research, they determined, determined that there was nothing specific in state law that would allow service to be granted, service credit to be granted to these employees in this situation. Aris agreed to work with me on a solution and their legal counsel provided the draft language for this bill. The bill simply states that a member of APRs who was previously covered under an
alternate alternate state retirement system. May be credited for each year of employment covered under that alternate system. In order to meet eligibility requirements for retirement. The bill further states that this will strictly apply to situations where the employee did not vest in the ultimate retirement system. I did not receive any payment or withdraw any contributions from the alternate retirement system. The employee must provide all proper documentation that these criteria have been met.
And the director of vapers will make the final determination if all requirements have been satisfied before crediting the service time to the employee. Now it's very important to note under this bill that the years served under the ultimate retirement system only count toward the employee's total number of years served. That will not not count toward the multiplier or the final average compensation. The multiplier and final average compensation will only be based on the years that they were a contributing member of APRs.
The fiscal impact in both of the actuar, actuarial analyses indicate that since this address is a fairly narrow set of circumstances. That not very many employees would be assumed to qualify. With so few employees falling into this category, it would not have a significant impact to APRS and its contribution rate. I appreciate AR's working with me on this bill and I sincerely hope we can help these state employees who fall into this category. These are dedicated long-term employees who serve the state of Arkansas.
And I believe that it's reasonable to request that all of their years of service should be recognized for retirement purposes and this bill does just that.
I'll do my best to answer any questions. All right,
Senator Kim Hammer
Unverified
22:05
Senator Hammer, you're recognized for a question? Thank you. Um, would you mind if. We have the director come to the table.
Not at all. OK, thank you. You would please introduce
Senator Kim Hammer
Unverified
22:21
yourself when you get situated. Amy Thatcher's director
at APRs. All right, Senator Hammer, thank you. Would you just help me understand like, so if, if somebody like in your constituent case, you, he's gonna transfer everything you had UAMS over to and I, I didn't, did you say where he was transferring it to? DHS DHS works for DHS. OK, so movement. Movement among the agencies as far as the plans is OK, or is this some, I guess it's
something that we haven't done before or how is this going to play out
Speaker 85
22:57
moving forward? I'm not opposed to, I'm just trying to get my mind around the
Speaker 86
23:01
moving parts. We, we have always done it. The the difference here is that, um, the constituent did not vest, and so what we do when someone comes to us to establish reciprocity is we just reach out to the alternate retirement program and have them verify that the person the service the person was there and that they didn't withdraw their contribution. And then we will
give them that credit. What's changed with this one is the constituent didn't vest, and so after a amount of time, UAMS said it was forfeited, and so the letter we got back from, from UAMS said that the service had been forfeited. And so that's where the gray area was, and we don't know exactly what that means from UMS standpoint, but We wanted the law to clarify how we address those issues. Do you
Senator Kim Hammer
Unverified
23:48
know how long it takes to get vested at you.
Chair
Unverified
23:53
So he was just short of the two-year mark. OK. OK, thank you. OK, Senator Dodson, you're recognized. Thank
Senator Jim Dotson
Unverified
24:08
you, Mr. Chair. um, Amy, so how, how does the retirement system handle it if someone is In an alternative retirement system, say they. Or contributory whether they vested that they didn't vest. And
You do count their service credit. And they were contributory, what happens to the, does the contributory money
Speaker 87
24:30
stay with their original retirement system or the
Senator Jim Dotson
Unverified
24:33
alternate plans gets nothing for it. So then has to credit them and count
Speaker 90
24:39
their, their Service multiplier funds. We don't
Speaker 86
24:41
count their salary from the alternate, uh, retirement plan from the
Speaker 36
24:46
service there, we just count the, the service. We just credit them with the
Senator Jim Dotson
Unverified
24:54
time. So the time goes in the multiplier, but not the. The actual funds that they had during that time. OK, so they're, they're multipliers instead of based off 28 years if that's full retirement and they were in 2 years in another one, they'd get
Speaker 86
25:09
a multiplier off of 26 years they'd still get 28 years. Um, but they're, they're multiplier in there would only be based on their AR service. So there's the years of service, a multiplier, and their final average salary, I think.
Senator Jim Dotson
Unverified
25:26
But their final average salary would be their time. Aper's time might be a 3-year high, 5-year high, whatever they happen to be under at that time. And multiplied by the years of service. And a multiplier contributory funds for that. Correct. I guess that might go back the opposite way too, and it just sort of smooths itself out, depending on how many employees do that, but Seems like if we're gonna count
service time from another system that was contributory, they've been collecting. Uh, interest and things like that, maybe for decades. In that other system. That system should pay for that. 2 acres to make sure
your actual actuarially sound going forward. Alright, so Amy,
I'm gonna jump in for a second, but your contribution to that retiree is only based on the 26 years. Correct.
Speaker 86
26:28
OK. Yes, that's correct. The 26 years of contributions that you've received the extra service to vest to get or to get to the 28 for retirement. Yes, go
ahead and retire. Correct. It's just the number of years that matters at that point for them to retire, I didn't explain that well. The amount of retirement is based on what they contributed to APRs. Yes. Not what he had uh, in this case, UAMS. Yes, that's right.
Representative Steve Unger
Unverified
27:00
OK. Any other questions? OK, do we have anyone in the
audience that would like to speak for the bill? Anyone in the audience that would like to speak
Chair
Unverified
27:13
against the bill. Uh, Representative Cooper, you are recognized clothes for your bill.
Representative Cameron Cooper
Unverified
27:18
Thank you, Mr. Chairman and thank you, Mr. Committee, or sorry, committee, um, it's the first time I've had the pleasure to present to this committee, so appreciate you listening. Um, like I said, um, this would apply to very
A small amount of state employees and these are going to be long-term employees that have been with the state for many years, dedicated years of service, so I hope that we can recognize all of their years of service when it comes time for
Representative Steve Unger
Unverified
27:45
the retirement and I'm close for my bill. OK, members, we've heard, uh, Representative Cooper's presentation. All right, I have a motion. Do I have a second? All right, have a motion to a second any discussion.
All those in favor say aye, and you opposed same sign? Congratulations, Representative Cooper, your motion or your bill has passed. All right, you want slide over.
Senator Jim Dotson
Unverified
28:47
Next up we have House Bill 1347. Chairman Warren, you are recognized to
present bring anybody to the table that you need. Thank you, Mr. Chairman, committee members. Uh, House Bill 1347 affects the beneficiaries of the Arkansas Teacher retirement system. Uh, beneficiary of Arkansas teacher retirement system can be established in various ways. There are occasions where beneficiaries who are disabled,
uh, who are disabled children or spouses who become disabled may have established for them a special needs trust, a special needs trust is a legal arrangement that helps people with disabilities receive financial support while keeping their government benefits. House Bill 1347 amends Arkansas Teacher retirement System law. So that a special needs trust may be named to receive the benefits on behalf of such a beneficiary.
I have a constituent who has a special needs child. They have a special needs trust set up for their child and when they started looking at this. There was not language in teacher retirement to allow the benefit to go directly to the special needs trust, so we're trying to put language in there to
Senator Jim Dotson
Unverified
30:12
allow that. And you've heard a presentation of the bill is, are there any
questions, seeing none. Is there anyone to speak up for or against the bill? Seeing none,
representative you are recognized clothes for your bill? Thank you, Mr. Chairman, uh, committee, this is just, uh, doing something that It wasn't intentional, that it was overlooked, but it's something that needs to be in place, uh, for those who deal with this so that They've made plans, the benefit can go straight to the special needs trust and I make a motion to pass.
Senator Jim Dotson
Unverified
30:57
Have a motion. I have a second. Uh, any discussion on the motion? See
none all in favor? I any post? Motion carries. Congratulations, you've passed House Bill 1347. You're recognized to present House
Bill 1348. Thank you, Mr. Chairman. Uh, this bill affects provisions of the Arkansas Public Employee retirement system as well as the Arkansas State Police retirement system. It deals with uh with survivor annuity benefits for dependent
children of active members who die. The requirement has been that a uh the child be enrolled in higher ed. As we've shifted and encouraged uh college uh or trades focusing on gainful employment. We're removing the higher ed requirement and providing this benefit for all these children until they reach 23 years of age. The annual benefit right now, uh, has been right at 280,000.
Take that and uh compare it to the 7 million total for the two systems. Uh, the 280,000 will grow, but it'll have a minimal effect on the systems. The actuary does not see a significant change for either of these retirement systems. So we just want to let the. Uh, benefit go. To all the beneficiary children, uh, who are. Or under 23 years of age, basically.
Gets a little bit hard to administer. Are you in school? What school are you in? So we're just clearing it up, making it simple. You get
Senator Jim Dotson
Unverified
32:40
the benefit until you turn 23. So if I understood it correctly from what you were saying, it The annual current benefits between 18 and 22 years of age would be $280,000. Yes, based off what you know, but. Increasing it to 23, we're not sure exactly what that would be.
Well, and that's been restricted to those who go into higher ed. We're taking that restriction off and saying it goes to all children who are beneficiaries. Until they turn 23, whether they go to trade school, they go straight to work, whatever we're just saying. The Children get the benefit. From the time they turn 18. Until they turn 23, if they're in college. They don't have to be in college. That's it. We're
saying, you know, we encourage go to trade school, just find something where you can get gainful employment, so rather than specifying only higher ed kits. That are beneficiaries get this benefit. We're just saying. All kids get it until they turn 23. Which is pretty much if I'm not mistaken, in line with other systems, uh,
Senator Jim Dotson
Unverified
33:54
the other systems right. Uh, Representative Duke. You're recognized for a question. Thank
Representative Hope Duke
Unverified
33:59
you, Mr. Chair. Um, you said something there that kind
of caught my attention. So if we make this change. There is no requirement whatsoever on what those kids do from 18 to 23. They just have to have an H. So they
could sit on, I mean, they could
Representative Mark Perry
Unverified
34:22
sit at home and play video games. They can, but. It, it's if the beneficiary, if the member
Speaker 100
34:28
has died. There's a death benefit that would go to their children from
Senator Jim Dotson
Unverified
34:37
18 to 20 until they turn 23. Thanks. Right? Seeing no other questions. Is there anybody in the audience that wants to speak for or against
this. Seeing none, Representative, you are recognized to close for your bill. Thank you, Mr. Chairman. We've just restricted this basically to only those that go to uh higher ed institution, uh, We don't see much change that will occur. There aren't that many, uh, who get a, have a
member who dies, so we're just trying to take the restriction off, especially in light of some going to trade schools we want to benefit them as well,
Senator Jim Dotson
Unverified
35:18
so I make a motion to pass. I got a motion. And a second from Senator Luding. Any discussion on the motion? Seeing none, all in favor. I any opposed? Looks like you've passed your bill. Uh, thank you, Mr. Chairman. Thank you, committee. Members,
we are getting dangerously close to getting through most of the bills in retirement, and so, um, Uh I think We'll meet next week and then we'll see where we go from there, but um. Seeing no other business, we are adjourned.
Agenda
Consideration of Renewal of the Actuarial Contract with Osborn, Carreiro & Associates, Incorporated
REGULAR AGENDA
Documents
| Title | Type | Pages | Source |
|---|---|---|---|
| Agenda — PUBLIC RETIREMENT & SOCIAL SECURITY PROGRAMS-JOINT, Mar 4, 2025 | Agenda | 1 | Official source ↗ |
Speakers
Representative Steve Unger
Unverified
Representative Les Warren Chair
Unverified
Speaker 8
Speaker 13
Representative Mark Perry
Unverified
Senator Kim Hammer
Unverified
Speaker 29
Representative Mark D. McElroy
Unverified
Representative Wade Andrews
Unverified
Speaker 50
Speaker 59
Senator Jim Dotson
Unverified
Speaker 31
Speaker 73
Representative Cameron Cooper
Unverified
Speaker 85
Speaker 86
Chair
Unverified
Speaker 87
Speaker 90
Speaker 36
Representative Hope Duke
Unverified
Speaker 100