PREPROPOSAL STATEMENT OF INQUIRY
[Filed September 4, 2019, 11:46 a.m.]
Subject of Possible Rule Making: Optional life annuity benefit for certain public retirement system members.
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: Implementing chapter 189, Laws of 2019 (SB 5350), allowing members to purchase a lifetime annuity benefit via the Washington state investment board.
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, web site www.drs.wa.gov/rules/.
September 4, 2019