(1) The office of financial management must enter into a contract with a public or private entity for actuarial services to provide a report to the appropriate committees of the legislature by October 1, 2022, on the following:
(a) The experience and financial condition of the family and medical leave insurance account created in RCW
50A.05.070;
(b) Any recommendations for options to modify the provisions of chapter
50A.10 RCW to maintain the long-term stability and solvency of the family and medical leave insurance account; and
(c) A comparison of the provisions of RCW
50A.10.030 with similar provisions in those states with both paid medical leave insurance and paid family leave insurance programs.
(2) The contract is exempt from the competitive procurement requirements in chapter
39.26 RCW.
(3) The report in this section must comply with RCW
43.01.036.
(4) This section expires December 31, 2023.