WA People
BILL · 2011–12 SESSION

SB 5494: 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 (SB 5494), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed Senate, stalled in House
  1. IntroducedJan 27, 2011
  2. Out of committeeFeb 25, 2011
  3. Passed SenateMar 7, 2011
  4. Passed Housestopped here
  5. Governor
  6. Law
Prime sponsor
Lisa Brown (D-3)
Introduced
January 27, 2011 in the Senate
Last action
April 11, 2012
Companion bill
HB 1625
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: Lisa Brown (D-3)

2 co-sponsors (1 Democrat, 1 Republican)

Joseph Zarelli R-18Paull Shin D-21

Votes

Senate · 3rd Reading & Final Passage

Passed March 7, 2011
Version voted on: SB 5494
49 Yea 0 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat27000
Republican22000
How each member voted

Yea (49)

Permalink to this vote

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, reintroduced and retained in present status.
  4. Senate Rules "X" file.
  5. By resolution, reintroduced and retained in present status.
  6. By resolution, reintroduced and retained in present status.
  7. By resolution, returned to Senate Rules Committee for third reading.
  8. Passed to Rules Committee for second reading.
  9. WAYS - Majority; do pass.
  10. WAYS - Executive action taken by committee.
  11. First reading, referred to Ways & Means.
  12. Third reading, passed; yeas, 49; nays, 0; absent, 0; excused, 0.
  13. Rules suspended. Placed on Third Reading.
  14. Placed on second reading by Rules Committee.
  15. WM - Majority; do pass.
  16. Passed to Rules Committee for second reading.
  17. First reading, referred to Ways & Means.

SB 5494 in other sessions

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

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