Z-1326.2          _______________________________________________

                                  HOUSE BILL 2693

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State of Washington              52nd Legislature             1992 Regular Session

By Representatives Locke, H. Sommers and Spanel; by request of Governor Gardner

Read first time 01/24/92.  Referred to Committee on Appropriations.Adjusting pension contribution rates.

     AN ACT Relating to adjusting pension contribution rates to reflect the state actuary's 1990 valuations; amending RCW 41.45.060; adding a new section to chapter 41.45 RCW; and providing an effective date.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 41.45 RCW to read as follows:

     Beginning September 1, 1992, through June 30, 1993, the basic state contribution rate for the law enforcement officers' and fire fighters' retirement system, and the basic employer contribution rates for the public employees' retirement system, the teachers' retirement system, and the Washington state patrol retirement system shall be as follows:

     (1) 7.16% for all members of the public employees' retirement system;

     (2) 11.79% for all members of the teachers' retirement system;

     (3) 11.07% for all members of the law enforcement officers' and fire fighters' retirement system; and

     (4) 16.69% for all members of the Washington state patrol retirement system.

     Sec. 2.  RCW 41.45.060 and 1990 c 18 s 1 are each amended to read as follows:

     Beginning ((September 1, 1991)) July 1, 1993, the basic state contribution rate for the law enforcement officers' and fire fighters' retirement system, and the basic employer contribution rates for the public employees' retirement system, the teachers' retirement system, and the Washington state patrol retirement system shall be as follows:

     (1) ((7.47)) 7.33% for all members of the public employees' retirement system;

     (2) ((12.60)) 12.23% for all members of the teachers' retirement system;

     (3) ((16.44)) 14.00% for all members of the law enforcement officers' and fire fighters' retirement system; and

     (4) ((15.53)) 16.69% for all members of the Washington state patrol retirement system.

NEW SECTION. Sec. 3.      This act shall take effect September 1, 1992.