WA People
BILL · 2013–14 SESSION · LATEST VERSION SHB 2474

HB 2474: Save toward retirement plan

Creating the save toward a retirement today retirement savings plan.

Summary

  • Creates the Start Retirement Savings Plan (Start Plan) permitting private employers and employees to participate in retirement plans administered by the Washington State Department of Retirement Systems (DRS).
  • Empowers the Washington State Investment Board to invest the funds contributed by participating employers and employees to the Start Plan.
  • Requires the Director of the DRS to seek Internal Revenue Service approval to operate the Start Plan on a tax-deferred basis.
  • Provides for the termination of the plan if it does not reach a sufficient size to be self-supporting based on reasonable administrative fees.

From the Substitute House Bill Report (SHB 2474), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · passed House, stalled in Senate
  1. IntroducedJan 17, 2014
  2. Out of committeeFeb 11, 2014
  3. Passed HouseFeb 14, 2014
  4. Passed Senatestopped here
  5. Governor
  6. Law
Prime sponsor
Larry Springer (D-45)
Introduced
January 17, 2014 in the House
Last action
March 13, 2014
Companion bill
SB 6294
Budget
Has a fiscal note
Versions
HB 2474, SHB 2474

AN ACT Relating to creating the save toward a retirement today state retirement savings plan;

Sponsors

Prime sponsor: Larry Springer (D-45)

25 co-sponsors (18 Democrats, 7 Republicans)

Paul Harris R-17Pat Sullivan D-47Larry Haler R-8Dean Takko D-19Norm Johnson R-14Susan Fagan R-9Steve Tharinger D-24Maureen Walsh R-16Eric Pettigrew D-37Roger Goodman D-45Judy Clibborn D-41Gael Tarleton D-36Matt Manweller R-13Ruth Kagi D-32Jim Moeller D-49Sherry Appleton D-23Laurie Jinkins D-27Cyrus Habib D-48Steve Bergquist D-11Dawn Morrell D-25Eileen Cody D-34Chad Magendanz R-5Sharon Tomiko Santos D-37Gerry Pollet D-46Roger Freeman D-30

Votes

House · Final Passage

Passed February 14, 2014
Version voted on: SHB 2474
54 Yea 43 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat50401
Republican43900
How each member voted

Yea (54)

Excused (1)

Permalink to this vote

History

  1. By resolution, returned to House Rules Committee for third reading. (SHB 2474)
  2. First reading, referred to Financial Institutions, Housing & Insurance. (SHB 2474)
  3. Third reading, passed; yeas, 54; nays, 43; absent, 0; excused, 1. (SHB 2474)
  4. Rules suspended. Placed on Third Reading. (SHB 2474)
  5. 1st substitute bill substituted. (SHB 2474)
  6. 1st substitute bill substituted.
  7. Placed on second reading by Rules Committee. (SHB 2474)
  8. Placed on second reading by Rules Committee.
  9. Passed to Rules Committee for second reading. (SHB 2474)
  10. Minority; do not pass. (SHB 2474)
  11. APP - Majority; 1st substitute bill be substituted, do pass. (SHB 2474)
  12. APP - Majority; 1st substitute bill be substituted, do pass.
  13. Minority; do not pass.
  14. APP - Executive action taken by committee.
  15. Passed to Rules Committee for second reading.
  16. First reading, referred to Appropriations (Not Officially read and referred until adoption of Introduction report).

HB 2474 in other sessions

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

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