WSR 05-16-053

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

RETIREMENT SYSTEMS

[ Filed July 28, 2005, 2:14 p.m. ]

Subject of Possible Rule Making: WAC 415-501-475 May I choose how I want my deferred compensation invested?

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050(5) and 41.50.780(10).

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To clarify that the department has the responsibility to limit the number of times a deferred compensation program (DCP) participant changes investment options in a single month if such actions threaten to negatively affect the performance results of other DCP participants.

Process for Developing New Rule: The Department of Retirement Systems (DRS) will develop the draft 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 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 Leslie Saeger, Rules and Contracts Coordinator, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, voice (360) 664-7291, TTY (360) 586-5450, fax (360) 753-3166, e-mail leslies@drs.wa.gov.

July 27, 2005

Sandra J. Matheson

Director

Washington State Code Reviser's Office