"NEW SECTION.  Sec. 1   The joint select committee on pension policy shall conduct a study of the possible impacts on the state retirement systems established under chapters 41.32, 41.35, 41.37, and 41.40 RCW that could result from the enactment of a defined contribution retirement savings plan option for new employees and current members of plans 2 and 3 of those retirement systems as proposed in Substitute Senate Bill No. 5851. The study shall include, but not be limited to, a review of the financial impact on the retirement systems, the impact on member and employer contribution rates, the impact on the Washington state investment board operations and investments, members' retirement income security, and on such other factors as deemed appropriate by the committee. The committee shall submit a report on the study findings to the legislature no later than December 31, 2013."