BillTracker

Providing a benefit increase to certain retirees of the public employees' retirement system plan 1 and the teachers' retirement system plan 1 (Conway, Bailey, Hobbs)

Requires the beneficiaries who are receiving a monthly benefit from the teachers' retirement system plan 1 or the public employees' retirement system plan 1 to receive an increase to their monthly benefit of three percent multiplied by the beneficiaries' monthly benefit, not to exceed sixty-two dollars and fifty cents.

EFFECT OF CHANGES MADE BY 1ST SUBSTITUTE (Ways & Means)
(1) Changes the one-time permanent increase from 3 percent to 2 percent.


HOUSE FLOOR AMENDMENT
Reduces the one-time increase in monthly benefits of beneficiaries of the Public Employees' Retirement System and the Teachers' Retirement System Plans 1 from 2 percent, up to a maximum of $62.50, to 1.5 percent, up to a maximum of $62.50.

Hearing Date: Saturday, February 24, 2018 -- 10:00 am

WA State Legislature Link:
http://app.leg.wa.gov/billsummary?BillNumber=6340&Chamber=Senate&Year=2017    (opens a new browser tab)