WA People
BILL · 1999–00 SESSION · LATEST VERSION SSB 5032

SB 5032: Retirement system option

Providing a retirement option for certain retirement system members.

Summary

  • Within six months after attaining 30 years of service, a TRS 1 or PERS 1 member may make an irrevocable option to have future employee contributions returned to the member as a lump sum at retirement. Interest is paid on the future contributions at the rate of 7.5 percent.

From the Substitute Senate Bill Report (SSB 5032), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 11, 1999
  2. Out of committee
  3. Passed SenateMar 12, 1999
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
Karen Fraser (D-22)
Introduced
January 11, 1999 in the Senate
Last action
January 12, 2000
Requested by
Other
Companion bill
HB 1024
Budget
Has a fiscal note
Versions
SB 5032, SSB 5032

Sponsors

Prime sponsor: Karen Fraser (D-22)

8 co-sponsors (5 Democrats, 3 Republicans)

Shirley Winsley R-28Jeanine Long R-44Ken Jacobsen D-46Albert Bauer D-49Rosa Franklin D-29Pam Roach R-31Adam Kline D-37Marilyn Rasmussen D-2

Votes

Senate · Final Passage

March 12, 1999
Version voted on: SSB 5032
47 Yea 0 Nay 2 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat26010
Republican21010
How each member voted

Yea (47)

Absent (2)

Permalink to this vote

History

The Legislature's online data doesn't include step-by-step history for sessions before 2001. Its final status is shown above, and the official bill page may have more.

SB 5032 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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