PREPROPOSAL STATEMENT OF INQUIRY
[Filed February 3, 2021, 9:15 a.m.]
Subject of Possible Rule Making: Nonspouse survivor benefit options.
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 comply with Internal Revenue Service (IRS) regulations governing nonspousal survivor benefits from a retirement plan.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: The department of retirement systems (DRS) will consult with tax counsel to ensure compliance with IRS regulations.
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, DRS, 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/.
February 3, 2021