SENATE BILL REPORT

SB 6465

BYSenators Johnson and Moore

Revising pension portability provisions.

Senate Committee on Ways & Means

Senate Hearing Date(s):

Senate Staff:Charles Langen (786-7715)

AS OF JANUARY 25, 1988

BACKGROUND:

The portability benefit provision was adopted in 1987 to become effective July 1, 1988.  This benefit provides the unification of public service earned under the retirement systems of the Public Employees' Retirement System (PERS), Teachers' Retirement System (TRS), Washington State Patrol Retirement System (WSPRS), and the Statewide City Employees' Retirement System (SCERS) with the potential for inclusion of service earned under the retirement systems of the First Class Cities of Seattle, Spokane and Tacoma.

SUMMARY:

Language is revised to clarify intent of the original enactment and to eliminate superfluous definitions, words and phrases.

Appropriation:    none

Revenue:    none

Fiscal Note:      requested January 21, 1988

Effective Date:July 1, 1988