WA People
BILL · 2001–02 SESSION · LATEST VERSION ESSB 6167

SB 6167: State retirement systems

Ensuring sound actuarial funding of the state retirement systems.

Summary

  • $ Legislative intent regarding the state's pension funding processes is modified in recognition of the improvement in the funding status of the state retirement systems since 1989.
  • $ New long-term economic assumptions and a new asset value smoothing technique are adopted for use in state retirement system actuarial studies.
  • $ New employer, state, and Plan 2 member contribution rates are adopted for the 2001-2003 biennium for the Public Employees Retirement System (PERS), the Teachers Retirement System (TRS), the School Employees Retirement System (SERS), and the Law Enforcement Officers and Fire Fighters Retirement System, Plan 2 (LEOFF 2).
  • $ The target date for fully funding all PERS 1 and TRS 1 liabilities is moved from December 31, 2016, to June 30, 2024.
  • $ The roles of the Pension Funding Council (PFC) and the Legislature in adopting economic assumptions, asset value smoothing techniques, and contribution rates is clarified.

From the Substitute Senate Bill Report (SSB 6167), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted (partial veto) Enacted with partial veto · Chapter 11, Laws of 2001, 2nd Special Session
  1. IntroducedMar 28, 2001
  2. Out of committeeMar 30, 2001
  3. Passed SenateMar 30, 2001
  4. Passed HouseJun 21, 2001
  5. Partly vetoedJun 26, 2001
  6. LawJun 26, 2001
Prime sponsor
Lisa Brown (D-3)
Introduced
March 28, 2001 in the Senate
Last action
June 26, 2001
Session law
Chapter 11, Laws of 2001, 2nd Special Session
Budget
Has a fiscal note
Versions
SB 6167, ESSB 6167

AN ACT Relating to actuarial funding of state retirement systems;

Sponsors

Prime sponsor: Lisa Brown (D-3)

3 co-sponsors (3 Democrats, 0 Republicans)

Sid Snyder D-19Harriet Spanel D-40Betti Sheldon D-23

Votes

Senate · 3rd Reading & Final Passage

Passed March 30, 2001
Version voted on: ESSB 6167
26 Yea 21 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat25000
Republican12102
How each member voted

Excused (2)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed June 8, 2001
Version voted on: ESSB 6167
26 Yea 16 Nay 0 Absent 7 Excused
PartyYeaNayAbsentExcused
Democrat24001
Republican21606
How each member voted
Permalink to this vote

House · Final Passage

Passed June 21, 2001
Version voted on: ESSB 6167
51 Yea 36 Nay 0 Absent 11 Excused
PartyYeaNayAbsentExcused
Democrat45004
Republican63607
How each member voted

Yea (51)

Permalink to this vote

History

  1. Effective date 7/1/2001*. (ESSB 6167)
  2. Chapter 11, 2001 Laws 2nd Special Session PV. (ESSB 6167)
  3. Governor signed. (ESSB 6167)
  4. Delivered to Governor. (ESSB 6167)
  5. Third reading, passed; yeas, 51; nays, 36; absent, 0; excused, 11. (ESSB 6167)
  6. President signed. (ESSB 6167)
  7. Speaker signed. (ESSB 6167)
  8. Rules suspended. Placed on Third Reading. (ESSB 6167)
  9. Placed on second reading. (ESSB 6167)
  10. Rules suspended. (ESSB 6167)
  11. Held on first reading. (ESSB 6167)
  12. Third reading, passed; yeas, 26; nays, 16; absent, 0; excused, 7. (ESSB 6167)
  13. Rules suspended. Placed on Third Reading. (ESSB 6167)
  14. Floor amendment(s) adopted. (ESSB 6167)
  15. Returned to second reading for amendment. (ESSB 6167)
  16. Rules suspended. (ESSB 6167)
  17. Placed on third reading by Rules Committee. (ESSB 6167)
  18. Referred to Rules. (ESSB 6167)
  19. Placed on third reading by Rules Committee. (ESSB 6167)
  20. By resolution, reintroduced and retained in present status. (ESSB 6167)
  21. By resolution, returned to Senate Rules Committee for third reading. (ESSB 6167)
  22. First reading, referred to Appropriations. (ESSB 6167)
  23. Third reading, passed; yeas, 26; nays, 21; absent, 0; excused, 2. (ESSB 6167)
  24. Rules suspended. Placed on Third Reading. (ESSB 6167)
  25. 1st substitute bill substituted. (ESSB 6167)
  26. WM - Majority; 1st substitute bill be substituted, do pass. (ESSB 6167)
  27. Minority; do not pass. (ESSB 6167)
  28. Passed to Rules Committee for second reading. (ESSB 6167)
  29. Placed on second reading by Rules Committee. (ESSB 6167)
  30. Placed on second reading by Rules Committee.
  31. Passed to Rules Committee for second reading.
  32. Minority; do not pass.
  33. WM - Majority; 1st substitute bill be substituted, do pass.
  34. 1st substitute bill substituted.
  35. First reading, referred to Ways & Means.

SB 6167 in other sessions

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

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