PREPROPOSAL STATEMENT OF INQUIRY
Subject of Possible Rule Making: Removing actuarial factors from WAC and establishing a process for adopting and publishing revised factors using other methods of communication.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: Legislation passed in 2012 will increase the frequency of updates to actuarial factors used in the calculation of retirement costs and benefits. Removing the factors from WAC and establishing alternative processes for adopting and publishing the factors will allow the department to meet its statutory requirements while remaining responsive to its stakeholders' interests.
Process for Developing New Rule: Agency study.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jilene Siegel, Rules Coordinator, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, e-mail Rules@drs.wa.gov, phone (360) 664-7291.
June 3, 2013
Jilene A. Siegel