WA People
BILL · 2025–26 SESSION · LATEST VERSION ESSB 5357

SB 5357: Actuarial pension funding

Concerning actuarial funding of pension systems.

Summary

  • Reduces employer normal cost contribution rates for the Public Employees' Retirement System (PERS), the Public Safety Employees' Retirement System (PSERS), the Teachers' Retirement System (TRS), the School Employees' Retirement System (SERS), and the Washington State Patrol Retirement System for fiscal year/school year 2026.
  • Reduces the Plan 2 member contribution rates for PERS, PSERS, TRS, and SERS for fiscal year/school year 2026.
  • Reamortizes the PERS Plan 1 and TRS Plan 1 benefit improvement contribution rates over 15 years, and suspends all unfunded liability rates for these plans for four years.

From the Engrossed Substitute House Bill Report (ESSB 5357), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 381, Laws of 2025
  1. IntroducedJan 20, 2025
  2. Out of committeeFeb 28, 2025
  3. Passed SenateMar 12, 2025
  4. Passed HouseApr 23, 2025
  5. GovernorMay 20, 2025
  6. LawMay 20, 2025
Prime sponsor
Steve Conway (D-29)
Introduced
January 20, 2025 in the Senate
Last action
May 20, 2025
Session law
Chapter 381, Laws of 2025
Requested by
State agency
Companion bill
HB 1467
Budget
Has a fiscal note
Versions
SB 5357, SSB 5357, ESSB 5357

AN ACT Relating to actuarial funding of pension systems;

Sponsors

Prime sponsor: Steve Conway (D-29)

1 co-sponsor (1 Democrat, 0 Republicans)

T'wina Nobles D-28

Votes

Senate · 3rd Reading & Final Passage

Passed March 12, 2025
Version voted on: ESSB 5357
48 Yea 0 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat29001
Republican19000
How each member voted

Yea (48)

Excused (1)

Permalink to this vote

House · Final Passage as Amended by the House

Passed April 23, 2025
Version voted on: ESSB 5357
82 Yea 14 Nay 1 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat55400
Republican271011
How each member voted

Yea (82)

Absent (1)

Excused (1)

Permalink to this vote

House · Final Passage as Amended by the House on Reconsideration

Passed April 23, 2025
Version voted on: ESSB 5357
80 Yea 17 Nay 0 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat52700
Republican281001
How each member voted

Yea (80)

Excused (1)

Permalink to this vote

Senate · Final Passage as Amended by the House

Passed April 24, 2025
Version voted on: ESSB 5357
29 Yea 19 Nay 0 Absent 0 Excused
PartyYeaNayAbsentExcused
Democrat29000
Republican01900
How each member voted
Permalink to this vote

History

  1. Effective date 7/1/2025. (ESSB 5357)
  2. Chapter 381, 2025 Laws. (ESSB 5357)
  3. Governor signed. (ESSB 5357)
  4. Delivered to Governor. (ESSB 5357)
  5. Speaker signed. (ESSB 5357)
  6. President signed. (ESSB 5357)
  7. Passed final passage; yeas, 29; nays, 19; absent, 0; excused, 0. (ESSB 5357)
  8. Senate concurred in House amendments. (ESSB 5357)
  9. Held for further consideration. (ESSB 5357)
  10. Third reading, passed; yeas, 80; nays, 17; absent, 0; excused, 1. (ESSB 5357)
  11. Vote on third reading will be reconsidered. (ESSB 5357)
  12. Third reading, passed; yeas, 82; nays, 14; absent, 1; excused, 1. (ESSB 5357)
  13. Rules suspended. Placed on Third Reading. (ESSB 5357)
  14. Floor amendment(s) adopted. (ESSB 5357)
  15. Committee amendment not adopted. (ESSB 5357)
  16. Rules Committee relieved of further consideration. Placed on second reading. (ESSB 5357)
  17. Referred to Rules 2 Review. (ESSB 5357)
  18. APP - Majority; do pass with amendment(s). (ESSB 5357)
  19. APP - Executive action taken by committee. (ESSB 5357)
  20. First reading, referred to Appropriations. (ESSB 5357)
  21. Third reading, passed; yeas, 48; nays, 0; absent, 0; excused, 1. (ESSB 5357)
  22. Rules suspended. Placed on Third Reading. (ESSB 5357)
  23. Floor amendment(s) adopted. (ESSB 5357)
  24. 1st substitute bill substituted. (ESSB 5357)
  25. 1st substitute bill substituted.
  26. Placed on second reading by Rules Committee. (ESSB 5357)
  27. Placed on second reading by Rules Committee.
  28. Passed to Rules Committee for second reading. (ESSB 5357)
  29. Passed to Rules Committee for second reading.
  30. Minority; do not pass. (ESSB 5357)
  31. WM - Majority; 1st substitute bill be substituted, do pass. (ESSB 5357)
  32. Minority; without recommendation. (ESSB 5357)
  33. Minority; without recommendation.
  34. WM - Majority; 1st substitute bill be substituted, do pass.
  35. Minority; do not pass.
  36. First reading, referred to Ways & Means.

SB 5357 in other sessions

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

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