PREPROPOSAL STATEMENT OF INQUIRY
Subject of Possible Rule Making: Implementation rules for annuities out of the trust fund.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050(5), 41.50.088.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The Department of Retirement Systems (DRS) seeks [to] clarify the types of annuities that are to be offered and the purchase process.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: DRS will work with the Washington State Investment Board and the Office of the State Actuary in developing these rules.
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 firstname.lastname@example.org, fax (360) 753-3166.
April 22, 2003
Merry A. Kogut