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Committee keeps GET unit price at $123.76; adopts effective Aug. 1, 2026
Summary
After an actuarial presentation, the committee voted to keep the GET unit price at $123.76 effective Aug. 1, 2026, citing strong reserves and marketing continuity; the Office of State Actuary had presented a best‑estimate price of $128 (range $113–$146).
The committee voted to adopt a GET unit price of $123.76 per unit effective Aug. 1, 2026, keeping the price unchanged from the prior year.
Treasurer Mike Palachata moved the motion to adopt the $123.76 price and Chris seconded. Palachata said keeping the price steady supports reinvigoration of the plan and helps working families by stabilizing monthly budgeting. "I move that we approve the adoption of a GET unit price of $123.76 per unit effective 08/01/2026," he said.
The Office of State Actuary (OSA) had presented an analysis showing a best-estimate unit price of $128 and a projected payout value of about $132, with a reasonable range of $113 to $146. Actuary Sarah Baker told the committee the fund’s latest valuation showed reserves of $852,000,000 and a funded status of about 178% as of 06/30/2025 and walked through multi-scenario stress testing that included both short-term shocks and sustained deviations from assumptions.
Committee discussion emphasized two main considerations: program health and participant equity. Supporters of keeping the prior price cited the program’s robust reserves and the marketing benefit of saying the price "is not changing." Some members cautioned against lowering the price below last year’s level because of potential adverse reactions from recent purchasers.
Chair Michael Miotti called for the vote; members indicated their support and the motion carried. The transcript records 'ayes' but does not record a roll-call tally by name.
