WA People
BILL · 2011–12 SESSION

HB 1625: Plan 3 retirement systems

Addressing the default investment option available to new members of the plan 3 retirement systems.

Summary

  • Changes the default investment option for new members of the Plans 3 of the Public Employees ' Retirement System, the Teachers' Retirement System, and the School Employees Retirement System from shares in the common pension fund invested by the State Investment Board to an offered retirement strategy fund with the retirement date closest to the retirement target date of the member.

From the House Bill Report (HB 1625), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 80, Laws of 2011
  1. IntroducedJan 27, 2011
  2. Out of committeeFeb 25, 2011
  3. Passed HouseMar 7, 2011
  4. Passed SenateApr 5, 2011
  5. GovernorApr 15, 2011
  6. LawApr 15, 2011
Prime sponsor
Ross Hunter (D-48)
Introduced
January 27, 2011 in the House
Last action
April 15, 2011
Session law
Chapter 80, Laws of 2011
Companion bill
SB 5494
Budget
Has a fiscal note

AN ACT Relating to changing the default investment option for new members of the defined contribution portion of the plan 3 retirement systems;

Sponsors

Prime sponsor: Ross Hunter (D-48)

5 co-sponsors (3 Democrats, 2 Republicans)

Barbara Bailey R-10Larry Seaquist D-26Bill Hinkle R-13Jim Moeller D-49Senator D-36

Votes

House · Final Passage

Passed March 7, 2011
Version voted on: HB 1625
96 Yea 0 Nay 0 Absent 2 Excused
PartyYeaNayAbsentExcused
Democrat55001
Republican41001
How each member voted

Yea (96)

Excused (2)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed April 5, 2011
Version voted on: HB 1625
48 Yea 0 Nay 1 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat26010
Republican22000
How each member voted

Yea (48)

Absent (1)

Permalink to this vote

History

  1. Chapter 80, 2011 Laws.
  2. Governor signed.
  3. Effective date 7/22/2011.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Third reading, passed; yeas, 48; nays, 0; absent, 1; excused, 0.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Passed to Rules Committee for second reading.
  11. WM - Majority; do pass.
  12. First reading, referred to Ways & Means.
  13. Third reading, passed; yeas, 96; nays, 0; absent, 0; excused, 2.
  14. Rules suspended. Placed on Third Reading.
  15. Placed on second reading by Rules Committee.
  16. Referred to Rules 2 Consideration.
  17. Passed to Rules Committee for second reading.
  18. WAYS - Majority; do pass.
  19. WAYS - Executive action taken by committee.
  20. First reading, referred to Ways & Means.

HB 1625 in other sessions

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

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