PREPROPOSAL STATEMENT OF INQUIRY
Subject of Possible Rule Making: WAC 415-02-350 What are the cost-of-living adjustments (COLA) and how are they calculated? and 415-02-360 What is the optional cost-of-living adjustment (COLA) for PERS Plan 1 and TRS Plan 1?
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050(5).
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The Washington state legislature, during the 2011 legislative session, enacted legislation that limits the annual increase amount of the cost-of-living adjustments for Public Employees' Retirement System Plan 1 and Teachers' Retirement System Plan 1. Amended rules will ensure compliance with SHB 2021, Laws of 2011.
Process for Developing New Rule: The department of retirement systems (DRS) will amend rule(s) with the assistance of the attorney general's office. The public is invited and encouraged to participate, as described below.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. DRS encourages your active participation in the rule-making process. After the rule(s) is drafted, DRS will file a copy with the office of the code reviser with a notice of proposed rule making. The notice will include the time and date of a public rules hearing. DRS will send a copy of the notice and the proposed rule(s) to everyone currently on the mailing list and anyone else who requests a copy. To request a copy or for more information on how to participate, please contact Ken Goolsby, Rules Coordinator, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, voice (360) 664-7291, TTY (360) 586-5450, fax (360) 753-5397, e-mail Rules@drs.wa.gov.
September 7, 2011