PREPROPOSAL STATEMENT OF INQUIRY
RETIREMENT SYSTEMS
Subject of Possible Rule Making: Emergency payments for defined contribution moneys.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050(5), 41.34.070(3).
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: RCW 41.34.070(3) allows a member with a terminal illness who terminates from employment to withdraw his or her account balance as a lump sum payment based on the most recent valuation in order to expedite the distribution. The Department of Retirement Systems (DRS) is considering proposing a new or amended WAC to set forth its interpretation and practice regarding this statute.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Department staff will work on the project, with the assistance of the Office of the Attorney General. 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. The Department of Retirement Systems encourages your active participation in the rule-making process. Anyone interested in participating should contact the Rules Coordinator, below. 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, and send a copy to everyone currently on the mailing list and anyone else who requests a copy. For more information on how to participate, please contact Merry A. Kogut, Rules Coordinator, Department of Retirement Systems, Mailstop 48380, P.O. Box 48380, Olympia, WA 98504-8380, voice (360) 664-7291, TTY (360) 586-5450, e-mail merryk@drs.wa.gov, fax (360) 753-3166.
March 4, 2003
Merry A. Kogut
Rules Coordinator