WA People
BILL · 2005–06 SESSION

HB 1322: TRS service credit

Purchasing service credit in plan 2 and plan 3 of the teachers' retirement system for public education experience performed as a teacher in a public school in another state or with the federal government.

Summary

  • Permits members of the Teachers' Retirement Systems Plans 2 and 3 (TRS 2/3) to make a one-time purchase of up to seven years of service credit for public education experience outside of the Washington State Retirement System.
  • Limits purchases of service credit to active members of TRS 2/3 who have earned five or more years of TRS service credit, and to members not receiving benefits or eligible for unreduced retirement benefits from another retirement plan.
  • Charges members the sum of employer and employee contributions plus interest at the assumed rate of investment return for service credit purchases.

From the House Bill Analysis (HB 1322), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 20, 2005
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Bill Fromhold (D-49)
Introduced
January 20, 2005 in the House
Last action
January 9, 2006
Requested by
Other
Companion bill
SB 5489
Budget
Has a fiscal note

AN ACT Relating to purchasing service credit in plan 2 and plan 3 of the teachers' retirement system for public education experience performed as a teacher in a public school in another state or with the federal government;

Sponsors

Prime sponsor: Bill Fromhold (D-49)

5 co-sponsors (4 Democrats, 1 Republican)

Steve Conway D-29Larry Crouse R-4Geoff Simpson D-47Kelli Linville D-42Maralyn Chase D-32

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. First reading, referred to Appropriations.

HB 1322 in other sessions

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

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