Loading chat...
WA HB1642
Bill
Status
1/28/2025
Primary Sponsor
Dan Bronoske
Click for details
AI Summary
-
Teachers' Retirement System Plan 3 members who joined between July 1, 1996, and June 30, 2007, may make an irrevocable choice to transfer to Plan 2 during any January, provided they earn service credit that month.
-
School Employees' Retirement System Plan 3 members who joined between September 1, 2000, and June 30, 2007, receive the same transfer option to Plan 2 during any January.
-
New employees in all three retirement systems (teachers, school employees, public employees) now have 90 days to choose between Plan 2 and Plan 3, with Plan 2 becoming the default if no choice is made.
-
Previously retired Plan 3 members are prohibited from transferring to Plan 2, and the legislature reserves the right to modify or discontinue these transfer rights.
-
Provisions would be suspended if the federal IRS determines they conflict with federal law, until any conflict is resolved.
Legislative Description
Providing additional plan choice to members of the teachers' retirement system plans 2 and 3, the school employees' retirement system plans 2 and 3, and the public employees' retirement systems plans 2 and 3.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026