SENATE BILL REPORT

HB 10

BYRepresentatives Grimm and Sayan

Revising provisions relating to transfer of service credit from the state-wide city employees' retirement system.

House Committe on Ways & Means/Appropriations

Senate Committee on Ways & Means

Senate Hearing Date(s):March 30, 1987

Majority Report:  Do pass as amended.

      Signed by Senators McDermott, Chairman; Bauer, Bluechel, Cantu, Craswell, Deccio, Hayner, Kreidler, McDonald, Owen, Rasmussen, Rinehart, Saling, Talmadge, Vognild, Wojahn.

Senate Staff:Charles Langen (786-7715)

                  March 31, 1987

AS REPORTED BY COMMITTEE ON WAYS & MEANS, MARCH 30, 1987

BACKGROUND:

In 1972 the State-Wide City Employees' Retirement System (SWCERS) was abolished and responsibilities, assets, and liabilities were transferred to the Public Employees' Retirement System (PERS).  Service credit earned by members of SWCERS was not transferred into PERS at that time.  In 1984 the PERS statute was amended to allow former members of SWCERS who became members of PERS on or before March 15, 1984 to transfer service credit into PERS.  Members wishing to transfer credit were required to do so by March 15, 1985.  Apparently some former members of SWCERS were not informed of their option to transfer credit and did not do so within the required time frame.

SUMMARY:

A one-year "open window" is created during which former members of the State-Wide City Employees' Retirement System may transfer service credit into the Public Employees' Retirement System.

SUMMARY OF PROPOSED SENATE AMENDMENT:

The sum of $31,000 is appropriated to the Department of Retirement Systems from the retirement expense fund for the 1987-89 biennium solely to administer the act.

Fiscal Note:      available

Senate Committee - Testified: No one