WA People
BILL · 2003–04 SESSION

SB 6249: Asset smoothing corridor

Establishing an asset smoothing corridor for actuarial valuations used in the funding of the state retirement systems.

Summary

  • Establishes a 30 percent limit on the difference between actuarial and market value of assets for purposes of actuarial studies performed on the Public Employees' Retirement System, the School Employees' Retirement System, the Law Enforcement Officers' and Fire Fighters' Retirement System, and the Washington State Patrol Retirement System.

From the House Bill Analysis (SB 6249), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 93, Laws of 2004
  1. IntroducedJan 15, 2004
  2. Out of committeeFeb 2, 2004
  3. Passed SenateFeb 17, 2004
  4. Passed HouseMar 3, 2004
  5. GovernorMar 22, 2004
  6. LawMar 22, 2004
Prime sponsor
Karen Fraser (D-22)
Introduced
January 15, 2004 in the Senate
Last action
March 22, 2004
Session law
Chapter 93, Laws of 2004
Requested by
Other
Companion bill
HB 2541
Budget
Has a fiscal note

AN ACT Relating to establishing an asset smoothing corridor for actuarial valuations used in the funding of the state retirement systems;

Sponsors

Prime sponsor: Karen Fraser (D-22)

4 co-sponsors (1 Democrat, 3 Republicans)

Shirley Winsley R-28Cheryl Pflug R-5Debbie Regala D-27Don Carlson R-49

Votes

Senate · 3rd Reading & Final Passage

Passed February 17, 2004
Version voted on: SB 6249
48 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat23001
Republican25000
How each member voted

Yea (48)

Excused (1)

Permalink to this vote

House · Final Passage

Passed March 3, 2004
Version voted on: SB 6249
94 Yea 2 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat49102
Republican45100
How each member voted

Yea (94)

Permalink to this vote

History

  1. Effective date 6/10/2004.
  2. Chapter 93, 2004 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Third reading, passed; yeas, 94; nays, 2; absent, 0; excused, 2.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Passed to Rules Committee for second reading.
  11. Minority; without recommendation.
  12. APP - Majority; do pass.
  13. APP - Executive action taken by committee.
  14. First reading, referred to Appropriations.
  15. Third reading, passed; yeas, 48; nays, 0; absent, 0; excused, 1.
  16. Rules suspended. Placed on Third Reading.
  17. Placed on second reading by Rules Committee.
  18. Passed to Rules Committee for second reading.
  19. WM - Majority; do pass.
  20. First reading, referred to Ways & Means.

SB 6249 in other sessions

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

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