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WA SB5835
Bill
Status
2/11/2026
Primary Sponsor
Steven Conway
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AI Summary
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Increases the threshold for paying a lump sum retirement benefit instead of monthly payments from $50 to $250 for initial monthly benefits calculated below that amount
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Requires the $250 threshold to be increased annually as determined by the director of the Department of Retirement Systems
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Applies to five state retirement systems: Public Employees' Retirement System (PERS), Teachers' Retirement System (TRS), School Employees' Retirement System (SERS), Public Safety Employees' Retirement System (PSERS), and Law Enforcement Officers' and Fire Fighters' Retirement System (LEOFF)
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Allows members or beneficiaries who received a lump sum to reinstate previous service by redepositing the payment with interest within two years of returning to service or before re-retiring
Legislative Description
Concerning the threshold for payment of a lump sum retirement allowance in lieu of a monthly benefit.
Last Action
Public hearing in the House Committee on Appropriations at 4:00 PM.
2/18/2026