On page 1, line 17, after "medicaid." insert "Middle class families are at the greatest risk because most have not saved enough to cover long-term care costs. When seniors reach the point of needing assistance with eating, dressing, and personal care, they must spend down to their last remaining two thousand dollars before they qualify for state assistance, leaving family members in jeopardy for their own future care needs."

On page 2, line 36, after "seamless;" strike "and"

On page 2, line 38, after "settings" insert "; and

(e) Program design focuses on the need to provide meaningful assistance to middle class families"

On page 3, beginning on line 32, after "dollars" strike all material through "approval," on line 33

On page 3, line 36, after "date." insert "The benefit unit must be adjusted annually at a rate no greater than the Washington state consumer price index, as determined solely by the council. Any changes adopted by the council shall be subject to revision by the legislature."

On page 4, line 1, after "(5)" insert ""Council" means the long-term services and supports trust council established in section 5 of this act.

(6)"

Renumber the remaining subsections consecutively and correct any internal references accordingly.

On page 4, line 31, after "(14)" insert ""State actuary" means the office of state actuary created in RCW 44.44.010.

(15)"

On page 4, line 36, after "services," insert "the office of the state actuary,"

On page 6, line 16, after "commission" insert ", council, and state actuary"

On page 6, after line 26, insert:

"(5) The office of the state actuary shall:

(a) Beginning January 1, 2024, and biennially thereafter, perform an actuarial audit and valuation of the long-term services and supports trust fund. Additional or more frequent actuarial audits and valuations may be performed at the request of the council;

(b) Make recommendations to the council and the legislature on actions necessary to maintain trust solvency. The recommendations must include options to redesign or reduce benefit units, approved services, or both, to prevent or eliminate any unfunded actuarially accrued liability in the trust or to maintain solvency; and

(c) Select and contract for such actuarial, research, technical, and other consultants as the actuary deems necessary to perform its duties under this act."

On page 6, line 28, after "established." insert "The commission's recommendations and decisions must be guided by the joint goals of maintaining benefit adequacy and maintaining fund solvency and sustainability."

On page 8, line 19, after "(e)" strike "The" and insert "Providing a recommendation to the council for the"

On page 8, at the beginning of line 20, strike "the formula established in section 2" and insert "sections 2 and 5"

On page 8, line 21, after "(f)" strike "The" and insert "Assisting the state actuary with the"

On page 9, after line 11, insert the following:

"NEW SECTION.  Sec. 5. (1) The long-term services and supports council is established. The council includes the members identified in section 4(2)(a) through (e) of this act and the director of the office of financial management, or the director's designee.

(2) On an annual basis, the council must determine adjustments to the benefit unit as provided in the definition of "benefit unit" in section 2 of this act to assure benefit adequacy and solvency of the long-term services and supports trust account established in section 10 of this act. In determining adjustments to the benefit unit, the council must review the state actuary's actuarial audit and valuation of the trust account, any recommendations by the state actuary and commission, data on relevant economic indicators and program costs, and sustainability.

(3) The director of the office of financial management, or the director's designee, shall serve as chair of the council. The council must meet at least once annually to determine adjustments to the benefit unit as defined in section 2 of this act. Additional meetings of the council are at the call of the chair. A majority of the voting members of the council shall constitute a quorum for any votes of the council. Approval of sixty percent of the members of the council who are in attendance is required for the passage of any vote. The council may adopt rules for the conduct of meetings, including provisions for meetings and voting to be conducted by telephonic, video, or other conferencing process.

(4) Members of the council must be compensated in accordance with RCW 43.03.250 and must be reimbursed for their travel expenses while on official business in accordance with RCW 43.03.050 and 43.03.060."

Renumber the remaining sections consecutively and correct any internal references accordingly.

On page 15, beginning on line 17, strike all of section 17 and insert the following:

"NEW SECTION.  Sec. 17. A new section is added to chapter 43.09 RCW to read as follows:

By December 1, 2032, the state auditor must conduct a comprehensive evaluation of the long-term services and supports trust program established in chapter 50B.--- RCW (the new chapter created in section 21 of this act) and deliver a report, including a conclusion and recommendations for improvement to the legislature regarding:

(1) Program operations, including the performance of the long-term services and supports trust commission established in section 4 of this act;

(2) Program financial status, including solvency, the value of the benefit provided, and the financial balance of program benefits to costs;

(3) The overall efficacy of the program, based on the established goals under this act including, but not limited to:

(a) Delaying middle class families' need to spend to poverty to receive medicaid-funded long-term care;

(b) Strengthening the state economy through improving workforce participation;

(c) Reducing the caseload and expenditures of the state medicaid program on long-term care; and

(d) Obtaining shared savings through a medicaid demonstration waiver."

On page 20, after line 13, insert the following:

Sec. 21. "RCW 44.44.040 and 2011 1st sp.s. c 12 s 7 are each amended to read as follows:

The office of the state actuary shall have the following powers and duties:

(1) Perform all actuarial services for the department of retirement systems, including all studies required by law.

(2) Advise the legislature and the governor regarding pension benefit provisions, and funding policies and investment policies of the state investment board.

(3) Consult with the legislature and the governor concerning determination of actuarial assumptions used by the department of retirement systems.

(4) Prepare a report, to be known as the actuarial fiscal note, on each pension bill introduced in the legislature which briefly explains the financial impact of the bill. The actuarial fiscal note shall include: (a) The statutorily required contribution for the biennium and the following twenty-five years; (b) the biennial cost of the increased benefits if these exceed the required contribution; and (c) any change in the present value of the unfunded accrued benefits. An actuarial fiscal note shall also be prepared for all amendments which are offered in committee or on the floor of the house of representatives or the senate to any pension bill. However, a majority of the members present may suspend the requirement for an actuarial fiscal note for amendments offered on the floor of the house of representatives or the senate.

(5) Provide such actuarial services to the legislature as may be requested from time to time.

(6) Provide staff and assistance to the committee established under RCW 41.04.276.

(7) Provide actuarial assistance to the law enforcement officers' and firefighters' plan 2 retirement board as provided in chapter 2, Laws of 2003. Reimbursement for services shall be made to the state actuary under RCW 39.34.130 and section 5(5), chapter 2, Laws of 2003.

(8) Provide actuarial assistance to the committee on advanced tuition payment pursuant to chapter 28B.95 RCW, including recommending a tuition unit price to the committee on advanced tuition payment to be used in the ensuing enrollment period. Reimbursement for services shall be made to the state actuary under RCW 39.34.130.

(9) Provide actuarial assistance to the long-term services and supports trust council and commission pursuant to chapter 50B.--- RCW (the new chapter created in section 21 of this act). Reimbursement for services shall be made to the state actuary under RCW 39.34.130."

Renumber the remaining section consecutively and correct any internal references accordingly.

On page 20, beginning on line 18, after "74.39A.076" strike all material through "18.88B.041" on line 19 and insert ", 18.88B.041, and 44.44.040"

On page 20, line 20, after "chapter" strike "44.28" and insert "43.09"