Sen. Jimmy Higdon proposes expanding PPOB membership, adding state treasurer and permanent legislative seats

Senator Jimmy Higdon told the Pension Oversight Board he plans to introduce changes to expand membership on the board and to add the state treasurer as a member.

Higdon said his proposal would increase membership currently described in statute (eight house and eight senate seats) by making the chairs of Appropriations and Revenue in both chambers permanent members, effectively raising the board size to 10 members from each chamber, and adding the state treasurer as an ex‑officio member. "I'd like to add the state treasurer," Higdon said during his remarks.

He also proposed lifting a moratorium that currently prevents anyone who participates in a retirement system from serving on PPOB; under Higdon's proposal, a former legislator or a retired participant could serve on the board. Higdon said the change would improve institutional knowledge and attract younger members to learn the pension system: "So, it just give us a few more seats... we do need members. We need people to understand the pension system."

Higdon told the committee some governor-appointed seats on PPOB have been vacant for several years and argued allowing former participants and additional appointees would broaden expertise available to the board. He said the bill is intended to increase oversight capacity and familiarity with pension issues across the legislature.

Representative Bogdanowski asked whether active members of a retirement system (for example, a teacher who is still in TRS) could serve; Higdon clarified he was referring to the governor’s and legislative appointee slots and that the current moratorium could be adjusted to permit appointees with prior retirement-system participation.

No formal action or vote on any membership change was recorded at the meeting. Higdon said he would circulate the proposal and invited questions and discussion from members.