WA People
BILL · 2003–04 SESSION

HB 2536: Early retirement buy down

Permitting members of the public employees' retirement system plan 2 and plan 3 and the school employees' retirement system plan 2 and plan 3 to buy down the early retirement reduction amounts.

Summary

  • Permits members of the Public Employees' Retirement System and the School Employees' Retirement System Plans 2 and 3 to "buy-down" reductions that are made to pension benefits when a member retires before age 65.
  • The early retirement reduction buy-down may be purchased at time of retirement at full actuarial cost.
  • A member purchasing service may pay all or part of the cost with a transfer from an eligible retirement account.

From the House Bill Analysis (HB 2536), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedJan 15, 2004
  2. Out of committeeJan 28, 2004
  3. Passed HouseFeb 11, 2004
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Gary Alexander (R-20)
Introduced
January 15, 2004 in the House
Last action
March 11, 2004
Requested by
Other
Companion bill
SB 6252
Budget
Has a fiscal note

AN ACT Relating to permitting members of the public employees' retirement system plan 2 and plan 3 and the school employees' retirement system plan 2 and plan 3 to buy down the early retirement reduction amounts;

Sponsors

Prime sponsor: Gary Alexander (R-20)

8 co-sponsors (6 Democrats, 2 Republicans)

Bill Fromhold D-49Steve Conway D-29Phil Rockefeller D-23Geoff Simpson D-47Jim Moeller D-49Maralyn Chase D-32Roger Bush R-2Mike Armstrong R-12

Votes

House · Final Passage

Passed February 11, 2004
Version voted on: HB 2536
94 Yea 0 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat50002
Republican44002
How each member voted

Yea (94)

Permalink to this vote

History

  1. By resolution, returned to House Rules Committee for third reading.
  2. First reading, referred to Ways & Means.
  3. Third reading, passed; yeas, 94; nays, 0; absent, 0; excused, 4.
  4. Placed on third reading.
  5. Committee recommendations adopted.
  6. Placed on second reading suspension calendar by Rules Committee.
  7. Passed to Rules Committee for second reading.
  8. APP - Executive action taken by committee.
  9. APP - Majority; do pass.
  10. First reading, referred to Appropriations.

HB 2536 in other sessions

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

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