Authority | Responsibility |
Legislative |
House Appropriations Senate Ways and Means All Plans - Hold hearings on pension proposals before the Legislature.
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Office of the State Actuary /
RCW 44.44.040 All Plans - Prepare actuarial valuations of the Plans.
- Provide fiscal notes/all pension legislation.
- Advise Legislature/Governor on pension issues.
- Staff the Select Committee on Pension Policy.
- Provide actuarial assistance to:
- Department of Retirement Systems.
- LEOFF 2 Retirement Board.
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Quasi-Legislative |
Pension Funding Council /
RCW 41.45 All Plans, except LEOFF 2 - Adopt economic and demographic assumptions.
- Adopt contribution rates.
- Provide for an actuarial audit of valuation results.
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Pension Funding Workgroup /
RCW 41.45.120 All Plans, except LEOFF 2 - Provide support to the Pension Funding Council.
- Seek public input on pension funding issues.
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Select Committee on Pension Policy /
RCW 41.04.281 All Plans - Study state pension issues-benefits and funding.
- Develop policy and make recommendations to the Legislature/Pension Funding Council.
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State Actuary Appointment Committee /
RCW 44.44.013 All Plans - Appoint or remove the state actuary by a 2/3 vote.
- Approve salaries of state actuary personnel
RCW 44.44.030.
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Executive |
Office of Financial Management /
RCW 43.41.110 All Plans - Advise Governor on benefit funding policy within the state budget.
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Department of Retirement Systems /
RCW 41.50 All Plans - Collect member/employer contributions.
- Maintain records.
- Pay benefits.
- Communicate benefit information.
- Advise Governor on pension benefits.
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State Investment Board /
RCW 43.33A All Plans - Invest retirement funds.
- Maintain fund accounting.
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Executive / Independent Boards |
LEOFF Plan 2 Retirement Board /
RCW 41.26.717, .720 - Fiduciary responsibility.
- Adopt actuarial assumptions and contribution rates.
- Study LEOFF Plan 2 pension issues-benefits and funding.
- Develop policy and make recommendations to the Legislature regarding LEOFF 2.
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State Board for Volunteer Fire Fighters and Reserve Officers /
RCW 41.24 - Collect contributions.
- Maintain records.
- Pay benefits.
- Communicate benefit information.
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