PREPROPOSAL STATEMENT OF INQUIRY
[Filed March 16, 2020, 2:37 p.m.]
Subject of Possible Rule Making: Membership default provisions in the public employees' retirement system (PERS), the teachers' retirement system (TRS) and the school employees' retirement system (SERS).
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: To implement chapter 313, Laws of 2019 (HB [SB] 5360), changing the default retirement plan for new members in PERS, TRS and SERS who do not make a plan choice selection within ninety days of hire, and to clarify provisions for new members with a break in service during their plan choice period.
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, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, phone 360-664-7291, TTY 711, email Rules@drs.wa.gov, website www.drs.wa.gov/rules/.
March 16, 2020