Archive | Merger

Pension Policy, Select Committee – 5/16/2017 12:15 p.m.

Pension Policy, Select Committee – 5/16/2017 12:15 p.m. Executive Committee House Conf. Rooms B15/18 John L. O’Brien Building Olympia, WA Agenda: Approval of Minutes. AAG Update. Optional Discussion of Today’s Full Committee Items. Constituent Correspondence. June Meeting Agenda. Discussion/Other Business. – SAAC. For further details, visit the SCPP website at http://leg.wa.gov/SCPP. Meeting start time subject […]

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Senate Budget Proposal Attacks LEOFF 2 – No Merger

Senate Releases 2017-2019 Omnibus Operating Budget (PSSB 5048)  The Senate released their 2017-2019 Omnibus Operating Budget (PSSB 5048) March 21st.. Issues Impacting LEOFF Plan 2: Contribution Rates (Sections 939 & 940) Except for fire protection districts, the State contribution to LEOFF Plan 2 is eliminated making the contribution rate funding ratio 50% member and 50% […]

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Merger Roundtable August 30 Report

On Tuesday, August 30, 2019 the 2nd Roundtable Meeting on the proposed TRS 1/LEOFF 1 merger was held in Olympia. Who was there? About thirty people attended. The principal speaker was the State Actuary, Matt Smith.  Also in attendance was Ann Hall the assistant Attorney General assigned to the Select Committee on Pension Policy (SCPP), […]

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TRS Underfunding

One of the major concerns of LEOFF 1 members about the proposed TRS 1/LEOFF 1 merger is the failure of the legislature to properly fund the TRS 1 pension plan.  In fact, the under funding has been so bad that there is no reason to expect the legislature will address these issues in the future.  […]

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California court opens door to changing public employee pensions

August 22, 2016 BY DAN WALTERS dwalters@sacbee.com California’s perpetual debate over public employee pensions has always revolved about what’s called the “California rule” – a series of court decisions that seemingly prohibit any changes in pension benefits once they are granted. The debate has intensified in recent years as the California Public Employee Retirement System […]

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