WA People
BILL · 2003–04 SESSION

SB 6029: Retirement actuarial funding

Funding the public employees' retirement system, the teachers' retirement system, and the school employees' retirement system.

Summary

  • Changes the method of determining the actuarial value of state retirement plan assets to one that recognizes the variation of a year's investment return from the long-term rate of investment return over a varying period based on the magnitude of deviation up to a maximum period for recognition of eight years.
  • Makes no contributions during the 2003-2005 biennium towards the unfunded liabilities in PERS and TRS Plans 1.

From the House Bill Analysis (SB 6029), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedMar 11, 2003
  2. Out of committeeApr 3, 2003
  3. Passed SenateApr 14, 2003
  4. Passed HouseApr 25, 2003
  5. Governorstopped here
  6. Law
Prime sponsor
Dino Rossi (R-5)
Introduced
March 11, 2003 in the Senate
Last action
January 28, 2004
Requested by
State agency
Budget
Has a fiscal note

AN ACT Relating to actuarial funding of the public employees', teachers', and school employees' retirement systems;

Sponsors

Prime sponsor: Dino Rossi (R-5)

1 co-sponsor (1 Democrat, 0 Republicans)

Darlene Fairley D-32

Votes

Senate · 3rd Reading & Final Passage

Passed April 14, 2003
Version voted on: SB 6029
32 Yea 17 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat81600
Republican24100
How each member voted
Permalink to this vote

House · FP as Amd by the House

Passed April 25, 2003
Version voted on: SB 6029
72 Yea 26 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat51100
Republican212500
How each member voted

Yea (72)

Permalink to this vote

History

  1. Senate Rules "X" file.
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, reintroduced and retained in present status.
  4. By resolution, returned to Senate Rules Committee for third reading.
  5. Senate refuses to concur in House amendments. Asks House to recede from amendments.
  6. Rules suspended. Placed on Third Reading.
  7. Committee amendment adopted with no other amendments.
  8. Third reading, passed; yeas, 72; nays, 26; absent, 0; excused, 0.
  9. Placed on second reading.
  10. Minority; do not pass.
  11. APP - Executive action taken by committee.
  12. APP - Majority; do pass with amendment(s).
  13. First reading, referred to Appropriations.
  14. Third reading, passed; yeas, 32; nays, 17; absent, 0; excused, 0.
  15. Rules suspended. Placed on Third Reading.
  16. Placed on second reading by Rules Committee.
  17. Passed to Rules Committee for second reading.
  18. Minority; do not pass.
  19. WM - Majority; do pass.
  20. First reading, referred to Ways & Means.

SB 6029 in other sessions

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

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