SB 5119-S - DIGEST

(DIGEST AS ENACTED)

     Declares an intent to:  (1) Simplify the calculation of postretirement adjustments so that they can be more easily communicated to plan I active and retired members;

     (2) provide postretirement adjustments based on years of service rather than size of benefit;

     (3) provide postretirement adjustments at an earlier age;

     (4) provide postretirement adjustments to a larger segment of plan I retirees; and

     (5) simplify administration by reducing the number of plan I postretirement adjustments to one.

     Repeals RCW 41.32.487, 41.32.4871, 44.32.488, 41.32.499, 41.32.575, 41.40.195, 41.40.198, 41.40.1981, 41.40.1983, and 41.40.325.