OPEA staff attended legislative interim studies at the Capitol today. These studies are held at the request of legislators who want to hear more about a certain topic. Often, legislators use the information they learn at the hearings to develop legislation. It is important that OPEA attend the hearings that deal with state employment and retirement issues.
The hearings conducted today that OPEA was present for are:
FLEX BENEFITS AND HEALTH CARE SOLUTIONS:
HealthChoice actuaries presented data from past years. Current trends in healthcare and how to incentivize state and education employees to take better care of their health was discussed. Several legislatures wanted to incentivize employees to take the high-deductible health plan.
ANNUAL REVIEW OF THE STATE RETIREMENT SYSTEMS:
Directors of the six state retirement plans made presentations about the funding status of their plan. According to the new Executive Director of OPERS, Joe Fox, OPERS plan is funded now funded at 88.6 percent. This is a significant increase from last year.
FUNDING STREAMS TAKEN OFF THE TOP OF STATE GOVERNMENT REVENUE SOURCES:
Legislative staff made a presentation of all the special funds that receive money before the legislature makes appropriations, Examples include the HB1017 Education Fund and the Transportation Fund.