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WA HB1474
Bill
Status
1/21/2025
Primary Sponsor
Mia Gregerson
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AI Summary
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Retirees receiving monthly benefits from Teachers' Retirement System Plan 1 as of July 1, 2024, will receive a 3% increase to their monthly benefit effective July 1, 2025, capped at $110.00
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Retirees receiving monthly benefits from Public Employees' Retirement System Plan 1 as of July 1, 2024, will receive a 3% increase to their monthly benefit effective July 1, 2025, capped at $110.00
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Continues a pattern of annual cost-of-living adjustments that began in 2018 with 1.5% increases (capped at $62.50) and increased to 3% (capped at $110.00) starting in 2022
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Excludes beneficiaries receiving benefits under certain disability and death benefit provisions (RCW 41.32.489, 41.32.540, and 41.40.1984)
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Declared an emergency measure, taking effect immediately upon passage
Legislative Description
Providing a benefit increase to certain retirees of the public employees' retirement system plan 1 and the teachers' retirement system plan 1.
Last Action
Referred to Appropriations.
1/12/2026