SENATE BILL REPORT

                            SB 5507

                    AS OF FEBRUARY 25, 1993

Brief Description:  Changing provisions in LEOFF Plan II to allow retirement at age fifty.

SPONSORS: Senators Gaspard, Roach, Vognild, Loveland, von Reichbauer, Prentice, Hargrove, Winsley, M. Rasmussen, Drew, Fraser, Bauer, Jesernig, Owen, Moore, Haugen, A. Smith, Williams, Sheldon, West, McAuliffe, Snyder, Skratek, Wojahn, Sutherland, Quigley and Erwin

SENATE COMMITTEE ON WAYS & MEANS

Staff:  Denise Graham (786‑7715)

Hearing Dates: March 1, 1993

BACKGROUND:

Under current law, members of the Law Enforcement Officers' and Fire Fighters' Retirement System Plan II (LEOFF II) may retire with full benefits at age 58 with five years of service, and may retire with reduced benefits at age 50 with 20 years of service.

Members of LEOFF II who become disabled receive a disability allowance that is actuarially adjusted to reflect the difference between age 58 and the age of disability.  Survivor benefits for active members who die are also actuarially reduced from age 58.

SUMMARY:

Members of the Law Enforcement Officers' and Fire Fighters' Retirement System Plan II may retire with full benefits at age 50 with five years of service.  Members of LEOFF II who become disabled may receive a disability allowance that is actuarially adjusted to reflect the difference between age 50 and the age of disability.  Survivor benefits for active members who die are actuarially reduced from age 50.

Appropriation:  none

Revenue:  none

Fiscal Note:  available