WSR 12-12-047

PERMANENT RULES

DEPARTMENT OF

RETIREMENT SYSTEMS

[ Filed June 1, 2012, 8:07 a.m. , effective July 2, 2012 ]


Effective Date of Rule: Thirty-one days after filing.

Purpose: The purpose of this proposal is to amend the rule, as necessary, to ensure the rule is accurate, up-to-date, and written in "plain English." The amended rule ensures accuracy and clearly identifies what retirement information is being provided to retirement system members and why [by] whom.

Citation of Existing Rules Affected by this Order: Amending WAC 415-02-130.

Statutory Authority for Adoption: RCW 41.50.050(5).

Other Authority: RCW 41.50.065.

Adopted under notice filed as WSR 12-08-056 on April 3, 2012.

Number of Sections Adopted in Order to Comply with Federal Statute: New 0, Amended 0, Repealed 0; Federal Rules or Standards: New 0, Amended 0, Repealed 0; or Recently Enacted State Statutes: New 0, Amended 1, Repealed 0.

Number of Sections Adopted at Request of a Nongovernmental Entity: New 0, Amended 0, Repealed 0.

Number of Sections Adopted on the Agency's Own Initiative: New 0, Amended 0, Repealed 0.

Number of Sections Adopted in Order to Clarify, Streamline, or Reform Agency Procedures: New 0, Amended 1, Repealed 0.

Number of Sections Adopted Using Negotiated Rule Making: New 0, Amended 0, Repealed 0; Pilot Rule Making: New 0, Amended 0, Repealed 0; or Other Alternative Rule Making: New 0, Amended 1, Repealed 0.

Date Adopted: June 1, 2012.

Steve Hill

Director

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