Revised Code of Washington - RCW Title 41 Public Employment, Civil Service, And Pensions - Chapter 41.45 Actuarial Funding Of State Retirement Systems

41.45.010 Intent -- Findings--Goals
It is the intent of the legislature to provide a dependable and systematic process for funding the benefits provided to members and retirees of the ...

41.45.020 Definitions
As used in this chapter, the following terms have the meanings indicated unless the context clearly requires otherwise. (1) "Council" means the pension funding council ...

41.45.030 State actuary to submit information on the experience and financial condition of each retirement system -- Adoption of long-term economic assumptions
(1) Beginning September 1, 2007, and every two years thereafter, the state actuary shall submit to the council information regarding the experience and financial condition ...

41.45.035 Long-term economic assumptions--Asset value smoothing technique
(1) Beginning July 1, 2001, the following long-term economic assumptions shall be used by the state actuary for the purposes of RCW 41.45.030: (a) The ...

41.45.050 Contributions to be based on rates established in this chapter -- Allocation formula for contributions
(1) Employers of members of the public employees' retirement system, the teachers' retirement system, the school employees' retirement system, the public safety employees' retirement system, ...

41.45.060 Basic state and employer contribution rates -- Role of council -- Role of state actuary
(1) The state actuary shall provide preliminary actuarial valuation results based on the economic assumptions and asset value smoothing technique included in RCW 41.45.035 or ...

41.45.0604 Contribution rates -- Law enforcement officers' and firefighters' retirement system plan 2
(1) Not later than July 31, 2008, and every even-numbered year thereafter, the law enforcement officers' and firefighters' plan 2 retirement board shall adopt contribution ...

41.45.061 Required contribution rates for plan 2 members
(1) The required contribution rate for members of the plan 2 teachers' retirement system shall be fixed at the rates in effect on July 1, ...

41.45.062 Annual contribution rate increases -- Employer, state, and plan 2 members
The basic employer and state contribution rates and required plan 2 member contribution rates are changed to reflect the 2003 actuarial valuation and actuarial projections ...

41.45.0621 Plan 1 unfunded accrued actuarial liabilities -- Contributions in addition to RCW 41.45.062 -- Intent
(1) It is the intent of the legislature to provide for the systematic funding of the plan 1 unfunded accrued actuarial liabilities in a manner ...

41.45.0631 Contribution rate (as amended by 2007 c 280)
Beginning July 1, 2001, the required contribution rate for members of the Washington state patrol retirement system shall be two percent or equal to the ...

41.45.0631 Contribution rate -- Allocation of costs (as amended by 2007 c 300)
Beginning July 1, 2001, the required contribution rate for members of the Washington state patrol retirement system shall be two percent or equal to the ...

41.45.067 Failure of state or employer to make required contribution -- Resulting increase in contribution rate borne in full by state or employer -- Members' contribution deducted each payroll period
(1) Any increase in the contribution rate required as the result of a failure of the state or of an employer to make any contribution ...

41.45.070 Supplemental rate
(1) In addition to the basic employer contribution rate established in RCW 41.45.060 or *41.45.054, the department shall also charge employers of public employees' retirement ...

41.45.080 Additional contributions may be required
In addition to the basic and supplemental employer contributions required by RCW 41.45.060, *41.45.053, and 41.45.070, the department may also require additional employer contributions as ...

41.45.090 Collection of actuarial data
The department shall collect and keep in convenient form such data as shall be necessary for an actuarial valuation of the assets and liabilities of ...

41.45.100 Pension funding council -- Created
(1) The pension funding council is hereby created. The council consists of the: (a) Director of the department of retirement systems; (b) Director of the ...

41.45.110 Pension funding council -- Audits required -- Select committee on pension policy
The pension funding council shall solicit and administer a biennial actuarial audit of the preliminary and final actuarial valuations used for employer and member rate-setting ...

41.45.120 Pension funding work group
(1) A pension funding work group is hereby created. The work group shall consist of one staff member selected by the executive head or chairperson ...

41.45.130 Public employees' retirement system plan 2 assets divided -- Assets transferred to school employees' retirement system
Upon the advice of the state actuary, the state treasurer shall divide the assets in the public employees' retirement system plan 2 as of September ...

41.45.150 Unfunded liabilities -- Minimum basic state and employer contribution rates
(1) Beginning July 1, 2009, a minimum 2.68 percent contribution is established as part of the basic state and employer contribution rate for the public ...

41.45.155 Certain plans 2 and 3 normal costs -- Minimum basic state and employer contribution rates
(1) Beginning July 1, 2009, a minimum contribution rate is established for the plans 2 and 3 normal cost as part of the basic state ...

41.45.158 Certain plans 2 and 3 normal costs -- Minimum member contribution rates
(1) Beginning July 1, 2009, a minimum contribution rate is established for the plans 2 and 3 normal cost as part of the required contribution ...

41.45.200 Contribution rates for certain justices and judges -- Public employees' retirement system
(1) The required employer contribution rate in support of public employees' retirement system members employed as supreme court justices, court of appeals judges, and superior ...

41.45.203 Contribution rates for certain justices and judges -- Teachers' retirement system
(1) The required employer contribution rate in support of teachers' retirement system members employed as supreme court justices, court of appeals judges, and superior court ...

41.45.207 Contribution rates for certain district or municipal court judges -- Public employees' retirement system
(1) The required employer contribution rate in support of public employees' retirement system members employed as district court judges and municipal court judges who elect ...

41.45.230 Pension funding stabilization account -- Creation
The pension funding stabilization account is created in the state treasury. Moneys in the account may be spent only after appropriation. Expenditures from the account ...

41.45.233 Pension funding stabilization account -- State investment board
(1) The state investment board has the full power to invest, reinvest, manage, contract, sell, or exchange investment moneys in the pension funding stabilization account. ...

41.45.900 Severability -- 1989 c 273
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...

41.45.902 Severability--2001 2nd sp.s. c 11
If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...