Bill > HB2125

This bill amends a state law concerning how the director of a state retirement system can pay expenses from the interest earnings of various retirement system trust funds. Specifically, the bill allows the director to use trust fund earnings to cover legal, medical, and administrative expenses that are primarily aimed at protecting the funds from potential losses or are required by existing statutes. The bill provides detailed definitions for these expense categories: "legal expenses" can include legal services, expert witness fees, travel expenses, and document reproduction; "medical expenses" cover medical examinations, report preparation, and professional fees for medical experts; and "administrative expenses" encompass activities like audits, cybersecurity, and risk prevention work. Additionally, the bill permits the director to use trust fund earnings to investigate fraud, collect overpayments, and cover related collection expenses, with any recovered funds being returned to their respective trust funds. The bill applies to multiple retirement systems, including public employees', teachers', state patrol, judicial, school employees', public safety employees', and law enforcement officers' and firefighters' retirement systems.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=2125&Year=2025&Initiative=false