PREPROPOSAL STATEMENT OF INQUIRY
[Filed May 19, 2021, 9:24 a.m.]
Subject of Possible Rule Making: Plan 3 delayed contributions.
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 clarify how the department of retirement systems (DRS) will determine if a Plan 3 member has experienced a loss of investment earnings resulting from their employer's delay in the submittal of contributions, and how such a loss will be calculated.
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/.
May 19, 2021