Concerning actuarial funding of pension systems.

 Z-0315.1

HOUSE BILL 1467

State of Washington

69th Legislature

2025 Regular Session

By Representatives Fitzgibbon, Wylie, and Ormsby; by request of Office of Financial Management

Read first time 01/21/25. Referred to Committee on Appropriations.

AN ACT Relating to actuarial funding of pension systems; amending RCW 41.45.010 , 41.45.060 , and 41.45.070 ; creating a new section; providing an effective date; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

Sec. 1. RCW 41.45.010 and 2009 c 561 s 1 are each amended to read as follows:

It is the intent of the legislature to provide a dependable and systematic process for funding the benefits provided to members and retirees of the public employees' retirement system, chapter 41.40 RCW; the teachers' retirement system, chapter 41.32 RCW; the law enforcement officers' and firefighters' retirement systems, chapter 41.26 RCW; the school employees' retirement system, chapter 41.35 RCW; the public safety employees' retirement system, chapter 41.37 RCW; and the Washington state patrol retirement system, chapter 43.43 RCW.