Washington State
House of Representatives
Office of Program Research
BILL
ANALYSIS
Appropriations Committee
SB 5835
Brief Description: Concerning the threshold for payment of a lump sum retirement allowance in lieu of a monthly benefit.
Sponsors: Senators Conway and Nobles; by request of Department of Retirement Systems.
Brief Summary of Bill
  • Increases the minimum monthly pension from the Washington State Retirement Systems that the Department of Retirement Systems may convert to a lump sum from $50 to $250 increased annually. 
Hearing Date: 2/18/26
Staff: David Pringle (786-7310).
Background:

The Department of Retirement Systems (DRS) administers the retirement systems and plans of the Washington State Retirement Systems, providing services to about 560,000 state and local government employees and retirees. Among the largest traditional pension systems are the Public Employees' Retirement System (PERS), the Teachers' Retirement System (TRS), the School Employees' Retirement System (SERS), the Law Enforcement Officers' and Firefighters' Retirement System (LEOFF), and the Public Safety Employees' Retirement System (PSERS).
Summary of Bill:

The minimum monthly benefit from PERS, TRS, SERS, PSERS, and LEOFF that the DRS may convert to a lump-sum benefit and pay all at once is increased from $50 to $250 increased annually as determined by the Director of the DRS.
Appropriation: None.
Fiscal Note: Available.
Effective Date: The bill takes effect 90 days after adjournment of the session in which the bill is passed.