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WA SB5718
Bill
Status
2/10/2025
Primary Sponsor
John Lovick
Click for details
AI Summary
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Teachers' Retirement System Plan 3 members who joined between July 1, 1996, and June 30, 2007, may irrevocably transfer to Plan 2 for future service during any January, if actively earning service credit that month
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School Employees' Retirement System Plan 3 members who joined between September 1, 2000, and June 30, 2007, may make the same irrevocable transfer to Plan 2 during any January
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Eligibility is limited to members who were never offered a choice between Plan 2 and Plan 3 when they initially enrolled
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Members who have previously retired from Plan 3 are prohibited from transferring to Plan 2
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Transfer option will be suspended if the IRS determines the provisions conflict with federal tax law, until any conflict is resolved
Legislative Description
Providing members of the teachers' retirement system plan 3 and school employees' retirement system plan 3 that were never offered a choice of plan 2 the opportunity to irrevocably transfer to plan 2 for future service.
Last Action
By resolution, reintroduced and retained in present status.
1/12/2026