WA People
BILL · 2005–06 SESSION

SB 6451: Actuarial accrued liability

Funding the unfunded actuarial accrued liability in plan 1 of the public employees' retirement system and plan 1 of the teachers' retirement system.

Summary

  • Declares an intent to provide for the systematic payment of the plan 1 unfunded actuarial accrued liability in a manner that promotes contribution rate adequacy and stability for the affected systems. This change in funding policy requires a three-year phase-in of contribution rates beginning in 2006.

From the Bill Digest (SB 6451), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedJan 12, 2006
  2. Out of committeestopped here
  3. Passed Senate
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Karen Fraser (D-22)
Introduced
January 12, 2006 in the Senate
Last action
January 12, 2006
Requested by
Other
Companion bill
HB 2683
Budget
Has a fiscal note

AN ACT Relating to payment of the unfunded actuarial accrued liability in plan 1 of the public employees' retirement system and plan 1 of the teachers' retirement system;

Sponsors

Prime sponsor: Karen Fraser (D-22)

4 co-sponsors (3 Democrats, 1 Republican)

Joyce Mulliken R-13Craig Pridemore D-49Rosemary McAuliffe D-1Marilyn Rasmussen D-2

Votes

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

History

  1. First reading, referred to Ways & Means.

SB 6451 in other sessions

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

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