PREPROPOSAL STATEMENT OF INQUIRY
LABOR AND INDUSTRIES
[Filed August 18, 2020, 8:18 a.m.]
Subject of Possible Rule Making: Chapter 296-14 WAC, Industrial insurance, pension discount rate for self-insurance.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The pension discount rate (PDR) is the interest rate used to account for the time value of money when evaluating the present value of future pension payments. The purpose of this rule making is to lower the PDR for annual investment returns for the reserve funds for self-insured employers.
This rule making will consider reducing the PDR from 5.9 percent to 5.8 percent for self-insurance.
Other Federal and State Agencies that Regulate this Subject and the Process Coordinating the Rule with These Agencies: None.
Process for Developing New Rule: Parties interested in these rules may contact the individual listed below. The public may also participate by commenting after amendments are proposed by providing written comments and/or testimony during the public hearing and comment process. Public hearings will be held after the proposal is filed.
Interested parties can participate in the decision to adopt the new rule and formulation of the proposed rule before publication by contacting Suzy Campbell, Legal Services, P.O. Box 44270, Olympia, WA 98504-4270, phone 360-902-5003, fax 360-902-5029, TTY 360-902-4252, email suzanne.campbell@Lni.wa.gov.
August 18, 2020