WSR 11-23-183

PREPROPOSAL STATEMENT OF INQUIRY

DEPARTMENT OF

RETIREMENT SYSTEMS

[ Filed November 23, 2011, 11:21 a.m. ]

Subject of Possible Rule Making: Higher education retirement plan supplemental benefit fund.

Statutes Authorizing the Agency to Adopt Rules on this Subject: Chapter 41.50 RCW.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The Washington state legislature, during the 2011 legislative session, enacted legislation that requires the department of retirement systems (DRS) to collect employer contributions from each state institution of higher education and deposit those contributions into a newly established higher education retirement plan supplemental benefit fund. Newly created and amended rules will ensure compliance with ESHB 1981, chapter 47, Laws of 2011.

Process for Developing New Rule: DRS will create 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 the 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 Ken Goolsby, Rules and Contracts Coordinator, DRS, P.O. Box 48380, Olympia, WA 98504-8380, voice (360) 664-7291, TTY (360) 586-5450, fax (360) 753-5397, e-mail Rules@drs.wa.gov.

November 23, 2011

Ken Goolsby

Rules and Contracts Coordinator

Washington State Code Reviser's Office