WSR 12-08-056

PROPOSED RULES

DEPARTMENT OF

RETIREMENT SYSTEMS

[ Filed April 3, 2012, 11:24 a.m. ]

Original Notice.

Preproposal statement of inquiry was filed as WSR 11-18-091.

Title of Rule and Other Identifying Information: WAC 415-02-130 Will I receive retirement and account information.

Hearing Location(s): Department of Retirement Systems, 6835 Capitol Boulevard, Conference Room 115, Tumwater, WA, on May 9, 2012, at 2:00 p.m.

Date of Intended Adoption: June 1, 2012.

Submit Written Comments to: Ken Goolsby, Rules Coordinator, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, e-mail rules@drs.wa.gov, fax (360) 753-5397, by 5:00 p.m. on May 9, 2012.

Assistance for Persons with Disabilities: Contact Ken Goolsby, rules coordinator, by April 6, 2012, TDD (360) 664-7291, TTY (360) 586-5450, phone (360) 664-7291.

Purpose of the Proposal and Its Anticipated Effects, Including Any Changes in Existing Rules: The department of retirement systems is amending the rule, as necessary, to ensure the rule is accurate, up-to-date, and written in "plain English."

Reasons Supporting Proposal: The amended rule ensures accuracy and clearly identifies what retirement information is being provided to retirement system members and by whom.

Statutory Authority for Adoption: RCW 41.50.050(5).

Rule is not necessitated by federal law, federal or state court decision.

Name of Proponent: Department of retirement systems, governmental.

Name of Agency Personnel Responsible for Drafting: Ken Goolsby, P.O. Box 48380, Olympia, WA 98504-8380, (360) 664-7291; Implementation: Shawn Merchant, P.O. Box 48380, Olympia, WA 98504-8380, (360) 664-7303; and Enforcement: Jennifer Dahl, P.O. Box 48380, Olympia, WA 98504-8380, (360) 664-7219.

No small business economic impact statement has been prepared under chapter 19.85 RCW. These rules have no effect on businesses.

A cost-benefit analysis is not required under RCW 34.05.328. The department of retirement systems is not one of the named departments in RCW 34.05.328.

April 3, 2012

Ken Goolsby

Rules Coordinator

OTS-4708.1


AMENDATORY SECTION(Amending WSR 02-03-120, filed 1/23/02, effective 3/1/02)

WAC 415-02-130   Will I receive retirement ((and)) account information?   (1) DRS ((provides)) will make annual statements available to all members who ((are currently employed and are being reported, and to inactive members who provide a mailing address)) have a balance of service credit or dollars in accordance with RCW 41.50.065.

(2) If you are a member of Plan 1 or 2, ((you will receive annual statements. The statements)) the information will include, but ((are)) is not limited to, the following ((information)):

(a) Service credit;

(b) Contributions; and

(c) Regular interest((; and

(d) Various retirement information)).

(3) ((For)) If you are a member of Plan 3, ((you will receive two types of statements)) the information will be provided through two sources.

(a) ((The defined benefit portion of your plan will provide an annual statement of your accumulated service credit and various retirement information)) Service credit information, used in the calculation of the defined benefit component, will be made available annually by DRS.

(b) ((The defined contribution portion of your plan will provide annual and)) Information regarding the defined contribution component of your plan will be provided on quarterly statements from the recordkeeper. The statements include, but are not limited to, contributions and account activity.

(4) Information on annual and quarterly statements are based on information provided to the department by your employer and are subject to correction.

[Statutory Authority: RCW 41.50.050(5) and 41.50.065. 02-03-120, 415-02-130, filed 1/23/02, effective 3/1/02. Statutory Authority: RCW 41.50.050. 00-10-016, 415-02-130, filed 4/21/00, effective 5/22/00.]

Washington State Code Reviser's Office