WA People
BILL · 2007–08 SESSION · LATEST VERSION EHB 2391

HB 2391: Retirement system/pension

Eliminating retirement system gain-sharing and providing alternate pension benefits.

Summary

  • Repeals gain-sharing for the Public Employees' Retirement System (PERS) and the Teachers' Retirement System (TRS) Plans 1 and 3, and the School Employees' Retirement System (SERS) Plan 3 after the January 1, 2008, gain-sharing event, and eliminates gain-sharing for members that joined the Plans 3 after July 1, 2008.
  • Provides an increase to the Annual Increase Amount (Uniform COLA) in PERS and TRS Plan 1 on July 1, 2009, of up to 20 cents, should the January 1, 2008 gain-sharing distribution provide less than a 40 cent increase in the Uniform COLA.
  • Provides members of PERS Plans 2 and 3, TRS Plans 2 and 3, and SERS Plans 2 and 3 who have completed at least 30 years of service with unreduced early retirement at age 62 and improved early retirement reduction factors between age 62 and 55.
  • Members who choose to retire under these improved early retirement provisions are ineligible to receive benefits while working in any compensated capacity for a retirement system-participating employer.
  • Provides a choice of Plan 2 or Plan 3 membership for new TRS and SERS members hired after July 1, 2007.

From the House Bill Report (HB 2391), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 491, Laws of 2007
  1. IntroducedMar 19, 2007
  2. Out of committeeMar 30, 2007
  3. Passed HouseApr 21, 2007
  4. Passed SenateApr 22, 2007
  5. GovernorMay 15, 2007
  6. LawMay 15, 2007
Prime sponsor
Bill Fromhold (D-49)
Introduced
March 19, 2007 in the House
Last action
May 15, 2007
Session law
Chapter 491, Laws of 2007
Budget
Has a fiscal note

AN ACT Relating to retirement system gain-sharing and alternate benefits;

Sponsors

Prime sponsor: Bill Fromhold (D-49)

2 co-sponsors (2 Democrats, 0 Republicans)

Steve Conway D-29Jim Moeller D-49

Votes

House · Final Passage

Passed April 21, 2007
Version voted on: EHB 2391
52 Yea 45 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat491400
Republican33101
How each member voted

Yea (52)

Excused (1)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed April 22, 2007
Version voted on: EHB 2391
26 Yea 21 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat25700
Republican11402
How each member voted

Excused (2)

Permalink to this vote

History

  1. Effective date 7/22/2007*. (EHB 2391)
  2. Chapter 491, 2007 Laws. (EHB 2391)
  3. Governor signed. (EHB 2391)
  4. Delivered to Governor. (EHB 2391)
  5. President signed. (EHB 2391)
  6. Read first time, rules suspended, and placed on second reading calendar. (EHB 2391)
  7. Speaker signed. (EHB 2391)
  8. Third reading, passed; yeas, 26; nays, 21; absent, 0; excused, 2. (EHB 2391)
  9. Rules suspended. Placed on Third Reading. (EHB 2391)
  10. Rules suspended. Placed on Third Reading. (EHB 2391)
  11. Floor amendment(s) adopted. (EHB 2391)
  12. Third reading, passed; yeas, 52; nays, 45; absent, 0; excused, 1. (EHB 2391)
  13. Rules Committee relieved of further consideration. Placed on second reading. (EHB 2391)
  14. Passed to Rules Committee for second reading. (EHB 2391)
  15. APP - Executive action taken by committee. (EHB 2391)
  16. Minority; do not pass. (EHB 2391)
  17. APP - Majority; do pass. (EHB 2391)
  18. First reading, referred to Appropriations. (EHB 2391)

HB 2391 in other sessions

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

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