WA People
BILL · 2009–10 SESSION · LATEST VERSION SSB 6161

SB 6161: Pension systems funding

Addressing the actuarial funding of pension systems.

Summary

  • Restructures the method for funding the unfunded liability of the Public Employees’ Retirement System and Teachers’ Retirement System Plans 1, including replacing the June 30, 2024, date for amortization of the unfunded liabilities with a rolling 10-year amortization period.
  • Changes demographic assumptions used in the state retirement systems, except for the Law Enforcement Officers’ and Fire Fighters’ Retirement System Plan 2 (LEOFF 2), including lowering the general salary increase assumption from 4.5 percent to 4.0 percent, and delaying assumed improvements in projected mortality.
  • Delays the implementation of minimum contribution rates for the Plans 2 and 3 until the beginning of the 2011-13 biennium, except for the minimum contribution rates for the Washington State Patrol Retirement System and LEOFF 2.
  • Revises pension contribution rates consistent with the system of funding created through the revisions to the methods.

From the Substitute House Bill Report (SSB 6161), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 561, Laws of 2009
  1. IntroducedApr 14, 2009
  2. Out of committeeApr 19, 2009
  3. Passed SenateApr 19, 2009
  4. Passed HouseApr 25, 2009
  5. GovernorMay 19, 2009
  6. LawMay 19, 2009
Prime sponsor
Margarita Prentice (D-11)
Introduced
April 14, 2009 in the Senate
Last action
May 19, 2009
Session law
Chapter 561, Laws of 2009
Budget
Has a fiscal note
Versions
SB 6161, SSB 6161

AN ACT Relating to actuarial funding of pension systems;

Sponsors

Prime sponsor: Margarita Prentice (D-11)

Votes

Senate · 3rd Reading & Final Passage

Passed April 19, 2009
Version voted on: SSB 6161
30 Yea 17 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat30100
Republican01602
How each member voted

Excused (2)

Permalink to this vote

House · Final Passage as Amended by the House

Passed April 25, 2009
Version voted on: SSB 6161
50 Yea 44 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat501101
Republican03303
How each member voted

Yea (50)

Excused (4)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 26, 2009
Version voted on: SSB 6161
27 Yea 20 Nay 1 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat27211
Republican01800
How each member voted

Absent (1)

Excused (1)

Permalink to this vote

History

  1. Effective date 7/1/2009. (SSB 6161)
  2. Chapter 561, 2009 Laws. (SSB 6161)
  3. Governor signed. (SSB 6161)
  4. Delivered to Governor. (SSB 6161)
  5. Speaker signed. (SSB 6161)
  6. President signed. (SSB 6161)
  7. Senate concurred in House amendments. (SSB 6161)
  8. Passed final passage; yeas, 27; nays, 20; absent, 1; excused, 1. (SSB 6161)
  9. Third reading, passed; yeas, 50; nays, 44; absent, 0; excused, 4. (SSB 6161)
  10. Rules suspended. Placed on Third Reading. (SSB 6161)
  11. Committee amendment adopted with no other amendments. (SSB 6161)
  12. Placed on second reading. (SSB 6161)
  13. WAYS - Majority; do pass with amendment(s). (SSB 6161)
  14. WAYS - Executive action taken by committee. (SSB 6161)
  15. First reading, referred to Ways & Means. (SSB 6161)
  16. WM - Majority; 1st substitute bill be substituted, do pass. (SSB 6161)
  17. Placed on second reading by Rules Committee. (SSB 6161)
  18. Minority; do not pass. (SSB 6161)
  19. Minority; without recommendation. (SSB 6161)
  20. Passed to Rules Committee for second reading. (SSB 6161)
  21. Third reading, passed; yeas, 30; nays, 17; absent, 0; excused, 2. (SSB 6161)
  22. Rules suspended. Placed on Third Reading. (SSB 6161)
  23. 1st substitute bill substituted. (SSB 6161)
  24. 1st substitute bill substituted.
  25. Passed to Rules Committee for second reading.
  26. Minority; without recommendation.
  27. Minority; do not pass.
  28. Placed on second reading by Rules Committee.
  29. WM - Majority; 1st substitute bill be substituted, do pass.
  30. First reading, referred to Ways & Means.

SB 6161 in other sessions

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

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