CERTIFICATION OF ENROLLMENT

                        HOUSE BILL 2782

                        57th Legislature

                      2002 Regular Session

Passed by the House February 18, 2002   Yeas 50   Nays 47 Speaker of the House of Representatives Passed by the Senate March 1, 2002   Yeas 37   Nays 10	CERTIFICATE I, Cynthia Zehnder, Chief Clerk of the House of Representatives of the State of Washington, do hereby certify that the attached is HOUSE BILL 2782  as passed by the House of Representatives and the Senate on the dates hereon set forth.                           Chief Clerk
President of the Senate

Approved Place Style On Codes above, and Style Off Codes below.	FILED
Governor of the State of Washington	Secretary of State                   State of Washington

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                          HOUSE BILL 2782

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             Passed Legislature - 2002 Regular Session

State of Washington      57th Legislature     2002 Regular Session

By Representatives Doumit and Sommers

Read first time 01/28/2002.  Referred to Committee on Appropriations.

Implementing the results of the 1995-2000 actuarial experience study. 

    AN ACT Relating to implementing the results of the 1995-2000 actuarial experience study; adding a new section to chapter 41.45 RCW; repealing RCW 41.45.053; providing an effective date; and declaring an emergency.

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:

    The basic employer and state contribution rates and plan 2 member contribution rates are changed to reflect the 2000 actuarial valuation, incorporating the 1995-2000 actuarial experience study conducted by the office of the state actuary.  The results of the 2000 actuarial valuation shall be adjusted to reflect an April 1, 2002, implementation date.

    (1) Beginning April 1, 2002, the following employer contribution rates shall be charged:

    (a) 1.10 percent for the public employees' retirement system; and

    (b) 2.64 percent for the law enforcement officers' and fire fighters' retirement system plan 2.

    (2) Beginning April 1, 2002, the basic state contribution rate for the law enforcement officers' and fire fighters' retirement system plan 2 shall be 1.75 percent.

    (3) Beginning April 1, 2002, the following employer contribution rates shall be charged:

    (a) 0.96 percent for the school employees' retirement system; and

    (b) 1.05 percent for the teachers' retirement system.

    (4) Beginning April 1, 2002, the following member contribution rates shall be charged:

    (a) 0.65 percent for the public employees' retirement system plan 2; and

    (b) 4.39 percent for the law enforcement officers' and fire fighters' retirement system plan 2.

    (5) Beginning April 1, 2002, the following member contribution rates shall be charged:

    (a) 0.35 percent for the school employees' retirement system plan 2; and

    (b) 0.15 percent for the teachers' retirement system plan 2.

    (6) The contribution rates in this section shall be collected through June 30, 2003.

NEW SECTION. Sec. 2.  RCW 41.45.053 (Contribution rates--Collected through June 30, 2003) and 2001 2nd sp.s. c 11 s 9 are each repealed.

NEW SECTION. Sec. 3.  This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect April 1, 2002.

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