SENATE BILL REPORT

ESB 5929

BYSenator Johnson

Providing a minimum retirement allowance for members of the public employees' and teachers' retirement systems.

Senate Committee on Ways & Means

Senate Hearing Date(s):February 23, 1989

Majority Report:  Do pass as amended.

      Signed by Senators McDonald, Chairman; Craswell, Vice Chairman; Amondson, Bailey, Bauer, Bluechel, Cantu, Gaspard, Hayner, Johnson, Lee, Moore, Newhouse, Niemi, Owen, Saling, Smith, Talmadge, Williams.

Senate Staff:Charles Langen (786-7715)

                  March 15, 1989

AS PASSED SENATE, MARCH 14, 1989

BACKGROUND:

There is no effective provision for a general automatic cost-of-living adjustment for active or retired members of the Public Employees' Retirement System and the Teachers' Retirement System who were first employed prior to October 1, 1977.

SUMMARY:

On July 1, 1989, the minimum pension portion of the retirement allowance is increased to $14.82 per month per year of service, before the application of the new automatic COLA.

Appropriation:    none

Revenue:    none

Fiscal Note:      requested February 22, 1989

Effective Date:The bill contains an emergency clause and takes effect immediately.

Senate Committee - Testified: No one