WA People
BILL · 2005–06 SESSION

HB 2681: Retirement contribution rate

Establishing minimum contribution rates for the public employees' retirement system, the public safety employees' retirement system, the school employees' retirement system, and the teachers' retirement system.

Summary

  • Sets minimum contribution rates beginning in 2009 for amortizing the unfunded liability in the Public Employees' Retirement System (PERS) Plan 1 of 2.68 percent of compensation, and in the Teachers' Retirement System (TRS) Plan 1 of 4.71 percent of compensation.
  • Sets a process for determining the minimum employer and employee contribution rates beginning in 2009 for PERS, TRS, and the School Employees' Retirement System Plans 2 and 3 of 80 percent of normal cost using the entry age actuarial method.

From the House Bill Report (HB 2681), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 365, Laws of 2006
  1. IntroducedJan 12, 2006
  2. Out of committeeJan 26, 2006
  3. Passed HouseFeb 11, 2006
  4. Passed SenateMar 3, 2006
  5. GovernorMar 31, 2006
  6. LawMar 31, 2006
Prime sponsor
Steve Conway (D-29)
Introduced
January 12, 2006 in the House
Last action
March 31, 2006
Session law
Chapter 365, Laws of 2006
Requested by
Other
Companion bill
SB 6452
Budget
Has a fiscal note

AN ACT Relating to minimum contribution rates for the public employees' retirement system, the public safety employees' retirement system, the school employees' retirement system, and the teachers' retirement system;

Sponsors

Prime sponsor: Steve Conway (D-29)

9 co-sponsors (9 Democrats, 0 Republicans)

Bill Fromhold D-49John Lovick D-44Tami Green D-28Mike Sells D-38Phyllis Gutierrez Kenney D-46Dave Quall D-40Geoff Simpson D-47Jim Moeller D-49Dawn Morrell D-25

Votes

House · Final Passage

Passed February 11, 2006
Version voted on: HB 2681
97 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat55001
Republican42000
How each member voted

Yea (97)

Excused (1)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed March 3, 2006
Version voted on: HB 2681
45 Yea 0 Nay 1 Absent 3 Excused
PartyYeaNayAbsentExcused
Democrat25010
Republican20003
How each member voted

Yea (45)

Absent (1)

Excused (3)

Permalink to this vote

History

  1. Effective date 7/1/2009.
  2. Chapter 365, 2006 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. Speaker signed.
  6. President signed.
  7. Third reading, passed; yeas, 45; nays, 0; absent, 1; excused, 3.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Minority; without recommendation.
  11. WM - Majority; do pass.
  12. Passed to Rules Committee for second reading.
  13. First reading, referred to Ways & Means.
  14. Third reading, passed; yeas, 97; nays, 0; absent, 0; excused, 1.
  15. Rules suspended. Placed on Third Reading.
  16. Placed on second reading by Rules Committee.
  17. Passed to Rules Committee for second reading.
  18. APP - Majority; do pass.
  19. APP - Executive action taken by committee.
  20. First reading, referred to Appropriations.

HB 2681 in other sessions

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

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