WSR 24-16-129
PREPROPOSAL STATEMENT OF INQUIRY
DEPARTMENT OF
LABOR AND INDUSTRIES
[Filed August 6, 2024, 11:37 a.m.]
Subject of Possible Rule Making: WAC 296-14-8810 Pension tables, pension discount rate and mortality tables.
Reasons Why Rules on this Subject may be Needed and What They Might Accomplish: The purpose of this rule making is to amend the rule by lowering the pension discount rate (PDR) to better align with the rate of return for long-term treasuries for self-insured pensions. These reductions allow our financial statements to more accurately reflect our liabilities and overall financial position, and are consistent with recommendations from our annual independent actuarial review of our rate making.
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 this rule 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. A public hearing 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, Department of Labor and Industries, Insurance Services, 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 6, 2024
Joel Sacks
Director