WSR 97-01-048

PREPROPOSAL STATEMENT OF INQUIRY

STATE BOARD FOR

COMMUNITY AND TECHNICAL COLLEGES

[Filed December 12, 1996, 10:58 a.m.]

Subject of Possible Rule Making: Relating to the TIAA/CREF retirement plan.

Statutes Authorizing the Agency to Adopt Rules on this Subject: Chapter 28B.50 RCW.

Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: To allow greater tax deferral for TIAA/CREF participants; to simplify plan administration; and to reflect greater flexibility and improved access to TIAA/CREF account funds for participants.

Process for Developing New Rule: Normal process including filing of CR-101, CR-103 (emergency rules filed December 6, 1996); CR-102 filed as soon as possible (permanent rules anticipated to be adopted in March 1997 followed by appropriate CR-103 - permanent rules filing).

Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Claire Krueger or Larry Lael, State Board for Community and Technical Colleges, P.O. Box 42495, Olympia, WA 98504-2495, (360) 753-7413, or FAX (360) 586-6440.

December 10, 1996

Claire C. Krueger

Executive Assistant