FINAL BILL REPORT

SB 6150

                             C 1 L 89 E1

BYSenator Johnson

Changing dates for initial application of supplemental rates for pension systems.

Senate Committee on Ways & Means

House Committe on Rules

SYNOPSIS AS ENACTED

BACKGROUND:

Substitute Senate Bill No. 5418 of 1989 revised the funding for the Law Enforcement Officers' and Fire Fighters' Retirement System (LEOFF), Public Employees' Retirement System (PERS), and Teachers' Retirement System (TRS).  Not only was the amortization period changed to a uniform 35 years, but the rates for contributions by employers and/or the state were made statutory.  Moreover, the intent to require a supplemental contribution rate for any benefit established after a specified date was included.

The effective date in SSB 5418 was July 1, 1990.  Other dates within the bill were based on this July date.  Subsequently, the effective date was amended to September 1, 1990, but two of the internal dates were misstated.

SUMMARY:

Technical changes are made to the enacted SSB 5418 correcting certain internal dates.

VOTES ON FINAL PASSAGE:

     Senate   40    0

     House 89  0

EFFECTIVE:August 9, 1989