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Teachers’ retirement board cites $8.1 million health‑insurance shortfall as state proposes cutting reimbursement
Summary
The Teachers’ Retirement Board told the Appropriations subcommittee it faces an $8.1 million deficiency tied to rising insurance premiums and said it would absorb a short‑term state reimbursement reduction proposed by OPM for 2026–27.
The Teachers’ Retirement Board told the Appropriations Committee’s elementary and secondary education subcommittee that a deficit tied to higher insurance rates totals about $8.1 million for the current year.
The board’s fiscal manager, Bob Rabier, said the deficit “relates to the increase in the insurance premiums for the year that wasn’t budgeted due to the Medicare stuff,” and he attributed the spike to changes tied to Medicare and related federal actions.
The Office of Policy and Management has proposed temporarily reducing the state reimbursement for retiree premiums…
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