- Pandora's Box and the Merger By Jerry Taylor| 11/16/2016
- Treachery By Jerry Taylor| 09/18/2016
- The Round Table - A failure? By Jerry Taylor| 08/12/2016
- A Member's Thoughts on SB-6668 By Jerry Taylor| 03/3/2016
- To the Senataors By Jerry Taylor| 02/29/2016
- SB 6668 – Why? By Jerry Taylor| 02/28/2016
- Needed Vigilance By Jerry Taylor| 08/16/2014
Draft Merger Study
documents in this list will likely comprise the final report in
December with only minor changes.
- Merger Study Documents from the November 15th SCPP meeting
- Ice Miller Merger Analysis
- Ice Miller Presentation Slides
- LEOFF 1/LEOFF 2 Review
- SCPP links to documents for the draft merger study
Click here for links we have posted.
Click here for links the SCPP has posted.
The SCPP met on Tuesday November 15, 2016 to consider the final draft report on the LEOFF 1/TRS 1 Merger Study. This was a long meeting and included presentations from the State Actuary, the Attorney General’s Office, the law firm of Ice Miller and Steve Nelson of the LEOFF 2 Board. Additionally there was a review of some of the presentations made earlier in this process.
The meeting was broadcast on TVW, so if you want to see it you can view the video at http://www.tvw.org/watch/?eventID=2016111042. The Merger Study portion begins at about 36 minutes and 30 seconds into the video.
The documents presented at this meeting are available at https://app.leg.wa.gov/CMD/document.aspx?agency=6&year=2016&cid=-4&mid=26503&hid=195806 and at links on our links page and in the articles.
Public attendance is welcomed. Meeting materials will be available on our website to view on Monday, December 5th.
The meeting will be held at:
Washington State Investment Board*
Large Conference Room
2100 Evergreen Park Drive SW, Suite 100
Olympia, WA 98502
*Located to the left of the building’s front door is an intercom system. Please press the top button (“Washington State Investment Board”) to receive access inside the building.
LEOFF PLAN 2 RETIREMENT BOARD MEETING AGENDA
December 7, 2016 - 9:30AM
1. Approval of Minutes
2. Risk Assessment Study
3. LEOFF 1 /LEOFF 2 Merger Study, Final Report
4. LEOFF 1 /LEOFF 2 Merger Actuarial Analysis
5. Public Testimony
6. Administrative Update
7. Possible Executive Session
8. 2017 Calendar Adoption
9. Agenda Items for Future Meetings
House Hearing Rm A
John L. O'Brien Building
REVISED ON 11/29/2016 AT 4:22 PM
1. Approval of Minutes.
2. Risk Assessment Update.
3. Plans 1 COLA (Work Session).
4. PSERS Membership: Definition of "Full Time" (Public Hearing with Possible Executive Session).
5. Merger Study: Final Report (Public Hearing with Possible Executive Session).
6. PSERS Membership: Nursing, Custody, and Safety (Public Hearing with Possible Executive Session).
7. WSPRS Proposal (Public Hearing with Possible Executive Session).
8. Plan Membership Default (Public Hearing with Possible Executive Session).
9. Age-Based Plan Opt-Out (Public Hearing with Possible Executive Session).
10. Interim Review and Session Prep (Work Session).
For further details, please visit the SCPP web site. Meeting start time subject to change depending on the needs of the committee.
A new law that took effect June 9, 2016, allows Law Enforcement Officers' and Fire Fighters' (LEOFF) Plan 1 members to purchase an annuity at retirement to supplement their pension benefit. (An annuity purchase is a way to convert a lump sum of money to a guaranteed income stream.)
Details on the provisions for making an annuity purchase are available in the Purchasing an Annuity brochure from the Department of Retirement Systems.
The new law (SB 6264) will also provide a future opportunity for an annuity purchase by LEOFF Plan 1 retirees who retired before June 9, 2016, and LEOFF Plan 2 and WSPRS Plan 1 or Plan 2 retirees who retired before having an opportunity to buy an annuity. The window for this purchase option will be Jan. 1 to June 1, 2017. Look for more information about this window later this year.
Other business took up to 39:35 when Anne Hall of the State Attorney General Office, Mary Beth Braittman and Rob Gauss from ICE Miller stated there presentation.
At 1:56:30, Steve Nelsen of the LEOFF 2 Board gave his presentation of an update on the LEOFF 1 /LEOFF 2 Proposed Merger..
At 2:35:00, Matt Smith gave his presentation from the Office of State Actuary.
At 3:09:00, Dick Warbrouck confirmed that there will be time for comments at the December on the draft recommendation to the Legislature. The draft report will be published before the December meeting.
Director Steve Nelson Spoke About the LEOFF 1/2 Merger Study.
Due to the LEOFF 2 Board Meeting date change (meeting being held in early November) analysis from the State Actuary, Attorney General & Ice Miller is incomplete. The information that is not available at this time will be included as an appendix and not amended. The complete & final report will be submitted to the LEOFF 2 Board in December. Today's presentation is preliminary information.
Pension Policy, Select Committee - 11/15/2016 10:00 a.m.
House Hearing Rm A, John L. O'Brien Building
1. Approval of Minutes.
2. OSA 17-19 Budget.
3. Merger Study.
a. Policy Update.
b. AAG Update.
c. LEOFF 2 Board Update.
d. Actuarial Update.
e. DRS Update.
f. Break - 5 Minutes.
4. Adoption of 2017 Meeting Dates.
5. Age-Based Plan Opt-Out.
6. Emergency Dispatchers: Initial Briefing.
7. PSERS Membership.
For further details, please visit the SCPP web site.
Audio of the meeting:
Video of the meeting: http://www.tvw.org/watch/?eventID=2016101069 (between 47:20 and 1:19:30)
Note that the video shows only the committee and no slides or presenters. The audio works better than the video because it is easier to move about on the timeline.