WSR 13-23-092
[Filed November 20, 2013, 8:49 a.m.]
Subject of Possible Rule Making: Distribution of defined benefits after the death of a Plan 3 member in the public employees' retirement system (PERS), school employees' retirement system (SERS) or teachers' retirement system (TRS) who has not yet retired, and removing the witness signature requirement on the beneficiary designation form.
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: This rule-making activity will clarify when a member's eligible surviving spouse and minor children will be entitled to receive the defined benefit portion of Plan 3. Additionally, this rule-making activity will update the rules to reflect current agency policy no longer requiring a witness signature on the beneficiary designation form.
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, Rules Coordinator, Department of Retirement Systems, P.O. Box 48380, Olympia, WA 98504-8380, e-mail, phone (360) 664-7291.
November 14, 2013
Jilene Siegel
Rules and Contracts Manager