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Bill > HB2471
WA HB2471
WA HB2471Increasing defined benefit accrual for specified years of service in the state retirement systems.
summary
Introduced
01/23/2024
01/23/2024
In Committee
01/23/2024
01/23/2024
Crossed Over
Passed
Dead
04/12/2024
04/12/2024
Introduced Session
2023-2024 Regular Session
Bill Summary
AN ACT Relating to increasing defined benefit accrual for 2 specified years of service in the state retirement systems; and 3 amending RCW 41.32.760, 41.32.840, 41.35.400, 41.35.620, 41.40.620, 4 and 41.40.790. 5
AI Summary
This bill increases the defined benefit accrual for members of the state retirement systems who have more than 30 years of service. Specifically, the bill provides an additional one-half of one percent of average final compensation for each year of service beyond 30 years. This change applies to the Teachers' Retirement System (TRS), the School Employees' Retirement System (SERS), and the Public Employees' Retirement System (PERS). The bill aims to provide greater retirement benefits for long-serving members of the state's public pension systems.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
First reading, referred to Appropriations. (on 01/23/2024)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://app.leg.wa.gov/billsummary?BillNumber=2471&Year=2023&Initiative=false |
| BillText | https://lawfilesext.leg.wa.gov/biennium/2023-24/Pdf/Bills/House%20Bills/2471.pdf |
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