PREPROPOSAL STATEMENT OF INQUIRY
[Filed March 18, 2020, 11:21 a.m.]
Subject of Possible Rule Making: Distributions from the deferred compensation program, judicial retirement accounts and Plan 3 defined contribution accounts.
Statutes Authorizing the Agency to Adopt Rules on this Subject: RCW 41.50.050
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: These revisions incorporate federal SECURE Act changes regarding required minimum distributions, and describe upcoming changes made possible by the transition to a different record keeper.
Process for Developing New Rule: Agency study.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Jilene Siegel, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, phone 360-664-7291, TTY 711, email Rules@drs.wa.gov, website www.drs.wa.gov/rules/.
March 18, 2020