WSR 16-13-140
[Filed June 22, 2016, 8:39 a.m.]
Subject of Possible Rule Making: Deferred compensation program auto-enrollment.
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: Recent legislation, ESSB 5435, will require state agencies to automatically enroll new full-time employees into the state's deferred compensation program (DCP) unless the employee opts out. The DCP rules will be revised to include administrative details. Local employers will continue to have the option to make DCP available to their employees, and may also elect to provide automatic enrollment. DCP enrollment will remain optional for eligible current employees and new employees who are not covered by the automatic enrollment provisions.
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, phone (360) 664-7291.
June 22, 2016
Jilene Siegel
Rules Coordinator