Senate Bill 5652 passed in the Senate Ways and Means Committee and was referred to the Senate Rules Committee. That occurred on January 27th. Currently it remains in Rules. The companion House Bill 1701 has passed out of Appropriations and was put forward to the House Floor without a hearing in House Rules. It appears to be moving along without opposition and will probably pass. We anticipate a similar course in the Senate.
These bills create a benefit improvement for LEOFF 2 amounting to an increase in the multiplier from 2 percent to 2.5 percent for years of service from 15 and up to 25.
It also provides certain LEOFF 2 retirees with a one-time lump sum equal to $100 per month of service for retirees and a minimum of $20,000 for catastrophic and duty disability retirees, and duty death beneficiaries.
Other parts of the bill deal with the management of pension contributions and other items.
The Senate Bill is the same.
SB 5791 was a mirror of this bill that included the multiplier and lump sum benefits to LEOFF 1. The LEOFF 2 items were removed from SB 5791. More information on SB 5791 will appear in our next post.
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