Bill > HB1510

This bill modifies the Public Employees' Retirement System (PERS) to allow supreme court and court of appeals commissioners to participate in the judicial benefit multiplier program, similar to existing provisions for justices and judges. Between January 1 and April 1, 2026, these commissioners can make a one-time election to accrue an additional 1.5 percent benefit for each year of future service in PERS Plan 1 or Plan 2. They can also apply to increase their benefit multiplier retroactively by 1.5 percent for prior service, with certain restrictions to ensure they do not exceed a 75 percent of average final compensation benefit. Commissioners would need to pay for this increased benefit by contributing five percent of their salary for each month of service being upgraded, plus 5.5 percent interest. From January 1 to June 30, 2028, both active and inactive members who have past service as commissioners can apply to increase their benefit multiplier, paying the actuarially equivalent value of the increase. The bill provides flexibility for members to pay for these benefit increases through various methods like lump sum payments, rollovers, or transfers, while ensuring compliance with internal revenue code regulations.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=1510&Year=2025&Initiative=false