Legislature makes a move on pension systems. As I write this article, we are dealing with a bill in the legislature that impacts both LEOFF 1 & 2. The bill is poorly constructed and has only one sponsor and, as such, may not survive to reach the floor. It is Senate Bill 5453 and is […]
Archive | LEOFF 1/TRS 1 Merger
5453 Research
By Admin on February 20, 2021 in 2021 Legislature, LEOFF 1/LEOFF 2 Merger, LEOFF 1/TRS 1 Merger, Merger, Miscellaneous, SB 5453
The following articles deal with merger issues. There are lots more on this site but these should provide some good background info. TRS Underfundinghttps://leoff1.net/2016/09/04/trs-underfunding/ By Admin on September 4, 2016 in 2016 Legislature, LEOFF 1/TRS 1 Merger, Merger One of the major concerns of LEOFF 1 members about the proposed TRS 1/LEOFF 1 merger is […]
LEOFF 2 Board Releases Budget Review
This report has been released by the LEOFF 2 Board as of July 30, 2017: We have reviewed the proposed budget for impacts on LEOFF Plan 2. Below is a summary of our review. The 2017 Legislature released their 2017-2019 Omnibus Operating Budget (PSSB 5883). The following is a summary of issues INCLUDED in the […]
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 […]
Senate Budget Proposal Attacks LEOFF 2 – No Merger
By Admin on March 25, 2017 in 2017 Legislature, LEOFF 1/LEOFF 2 Merger, LEOFF 1/TRS 1 Merger, 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% […]
Ice Miller Opinions on the Merger
By Admin on September 5, 2016 in 2016 Legislature, LEOFF 1/LEOFF 2 Merger, LEOFF 1/TRS 1 Merger, Merger
Ice Miller is a law firm located in Chicago with offices in several cities. The firm serves as counsel to the State of Washington primarily on tax issues. Whenever the state is concerned about potential tax issues in legislation they normally engage Ice Miller to conduct a review. As such they serve as an acting […]
Merger Roundtable August 30 Report
By Admin on September 4, 2016 in 2016 Legislature, LEOFF 1/LEOFF 2 Merger, LEOFF 1/TRS 1 Merger, Merger
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), […]
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. […]
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 […]
A Member’s Thoughts on SB-6668
Editor’s Note: The following is from an email circulated by Bradd Reynolds, PD Centralia Retired LEOFF1. I am posting it without edits but want to encourage readers to recognize there are some errors and misstatements. They are minor but can serve as an alert to double check on all you read — that includes the […]