WSR 02-11-078




[ Filed May 14, 2002, 9:14 a.m. ]

Subject of Possible Rule Making: Change actuarial factors in the Department of Retirement Systems (DRS) plans. Changes will be made to WAC 415-104-108, 415-108-340, 415-110-340, and 415-112-040. Changes will be made to other WACs for cross-referencing, or as identified, or otherwise, as needed.

Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050(5), chapter 41.45 RCW.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The Office of the State Actuary published a 1995 - 2000 actuarial experience study in January 2002 which included updated actuarial factors. DRS will change existing WACs to reflect new actuarial projections. At the same time, DRS plans to make the WAC easier to understand and to include examples to help members, retirees, and beneficiaries understand how to use the charts. DRS is considering consolidating the charts into one location in the WAC.

Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.

Process for Developing New Rule: Department staff will work on the project, with the assistance of the Office of the Attorney General. The public is invited and encouraged to participate, as described below.

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication. The Department of Retirement Systems encourages your active participation in the rule-making process. Anyone interested in participating should contact the rules coordinator, below. After the rule(s) is drafted, DRS will file a copy with the Office of the Code Reviser with a notice of proposed rule making, and send a copy to everyone currently on the mailing list and anyone else who requests a copy. For more information on how to participate, please contact Merry A. Kogut, Rules Coordinator, Department of Retirement Systems, Mailstop 48380, P.O. Box 48380, Olympia, WA 98504-8380, voice (360) 664-7291, TTY (360) 586-5450, e-mail, fax (360) 753-3166.

May 13, 2002

Merry A. Kogut

Rules Coordinator

Washington State Code Reviser's Office