As the legislature winds down it appears that the two bills attacking LEOFF1, HB2034 and SB5085 have failed to pass and are now dead–at least for this session. In our judgement both of these bill were illegal and would have failed in a law suit that would have surely been filed. The legislature is instructing […]
COLA 2025
COLA percentages for LEOFF Plan 1 (effective April 1, 2025) Retirement Dates Adjustment April 2, 2024 – March 31, 2025 0.00% January 1, 2024 – April 1, 2024 3.61% April 2, 2023 – December 31, 2023 9.33% Prior to April 2, 2023 3.61% LEOFF Plan 1 COLAs are effective April 1 and included with April […]
SB 5085 | LEOFF1, TRS1, PERS1 Merger
We have been talking about SB 5085 for the last couple of weeks. Basically, it is another merger attempt. The bill would take PERS 1, TRS 1 and LEOFF 1 and merge them into a new pension system called Legacy. The proposed legislation also creates a COLA for PERS and TRS. That COLA would have […]
LEOFF COLA
(corrected 3/13/2023) The April 2023 DRS COLA for LEOFF 1 is 8.81%. That should show up in your check issued the end of April. Remember, if you are a recipient of a city escalator check under 41.20 or 41.18, your city check adjusts to meet your guaranteed rate. DRS announced the LEOFF 2 COLA in […]
LEOFF Benefit Enhancements
An error was made in DRS’s system that caused LEOFF 1 duty disability members and their survivors to have taxes withheld on lump-sum payments for any amount over $20,000. DRS is working to quickly resolve this issue and expect all accounts to be corrected and refunded no later than January 31. As of January 24 […]
Pension Benefit Payout
Today many of you have received a deposit from DRS that represents the special benefit payout. If you are duty related disability retired, you will note that the payment is short of the amount anticipated. This amount may vary from person to person. As of 10:30 AM, January 13, 2023, we are advised by DRS […]
Scammer Alert
We have learned that scammers are contacting LEOFF retirees by phone and requesting personal information. The scammers are posing as representatives of the Washington State Department of Retirement Systems (DRS). DRS will NOT call you to get personal information or about the benefit enhancement. They are mailing letters to all retirees and emailing when email information […]
LEOFF Benefit Improvement Bills
GOOD NEWS! SINCE SSB 5791 PASSED THE LEGISLATURE, WAS SIGNED BY THE SPEAKER OF THE HOUSE AND THE PRESIDENT OF THE SENATE ON MARCH 8TH, WAS DELIVERED TO THE GOVERNOR ON MARCH 9TH, AND SIGNED BY THE GOVERNOR ON MARCH 24, 2022 For this reason, the Washington State Department of Retirement Systems (“DRS”) has put […]
SSB 5791 to be Signed March 24th
GOOD NEWS! SINCE SSB 5791 PASSED THE LEGISLATURE, WAS SIGNED BY THE SPEAKER OF THE HOUSE AND THE PRESIDENT OF THE SENATE ON MARCH 8TH, WAS DELIVERED TO THE GOVERNOR ON MARCH 9TH, AND IS TO BE SIGNED BY THE GOVERNOR ON MARCH 24, 2022 IT WILL IMMEDIATELY BECOME THE LAW For this reason, the […]
SSB 5791 Passes the House
Last night the House passed 5791. That means it is through the House and the Senate so the next step is for the Governor’s signature. Since the bill passed both the Senate and House with no nay votes we do not anticipate any problems–of course this is still the government so it is not done […]