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Paul Barden Testifies at SCPP

Watch this video of Paul Barden testifying at the Select Committee on July 19th.  Because of his history as a legislator, county council man and police officer this testimony has significant weight..
 

LEOFF 2 Board Meeting

The next LEOFF Plan 2 Retirement Board meeting is Wednesday, July 27th, 2016 at 9:30AM.
Public attendance is welcomed.

Meeting materials will be available on our website to view on Monday, July 25th.

The meeting will be held at:

Washington State Investment Board*
Large Conference Room
2100 Evergreen Park Drive SW, Suite 100
Olympia, WA 98502


*Located to the left of the building’s front door is an intercom system. Please press the top button (“Washington State Investment Board”) to receive access inside the building.

LEOFF PLAN 2 RETIREMENT BOARD MEETING AGENDA
July 27th, 2016 - 9:30AM
 
1.            Approval of Minutes
2.            Valuation Audit Results
3.            Contribution Rate Adoption
4.            DRS Annual Update
5.            Administrative Update             
6.            Agenda Items for Future Meetings
7.            LEOFF 1 / LEOFF 2 Merger – Initial Consideration           
8.            Public Testimony (2pm) 

See http://leoff.wa.gov/boardmtgs/index16.htm for updates.

AWC Survey Response

The Association of Washington Cites has just published their response to the Merger Survey.  They have not yet taken a position on the issue but their article makes clear that the AWC claims a vested interest in any LEOFF 1 surplus.
Olympia -- Washington Department of Retirement Systems Director Marcie Frost has accepted the position of Chief Executive Officer of the California Public Employees' Retirement System (CalPERS), it was announced today. Frost will start with CalPERS Oct. 3, 2016.

Editor's Note:  DRS Director has been a joy to work with over the years.  Under her leadership there has been an atmosphere of openes and accessibility that has always been very helpful.  She will be missed.

Merger Study Links

We have recently done a presentation at the Seattle Police Retired Officers' Association monthly meeting.  A copy of the slides and a number of important documents dealing with the proposed merger were placed on the RSPOA website to assist folks in accessing information and documents. Please go to the Full Story link to view those links.




The following is a letter sent to legislators by a retired firefighter.

Here we go again.  SB 6668 was defeated now we have an effort by not only Teachers Retirement System 1 (TRS 1) but at the last minute the Law Enforcement and Fire Fighters Plan 2 (LEOFF 2) have decided they do not want to miss out on a try at getting some of the LEOFF 1’s retirement money.  A merger?  Not really, it is a take over.  Any bill that affects the future of the LEOFF 1 retirement system is ill advised.  Bailing out poorly managed retirement systems with a solvent LEOFF 1 just seems and is fundamentally wrong.  Retirement system contributors were promised by the Legislature they would have a pension.  Now, the Legislature, as you know, is between a rock and a hard place.  How do we fix this problem with TRS 1 and satisfy the money grubbing efforts LEOFF 2 without ruining LEOFF 1.
Select Committee Pension Policy
July 19, 2016 10:00 AM
Pension Policy, Select Committee - 7/19/2016 10:00 a.m.

Full Committee
House Hearing Rm B
John L. O'Brien Building
Olympia, WA
REVISED ON 7/5/2016 AT 3:58 PM

Agenda:

1.    Approval of Minutes.
2.    OSA Update.
3.    Update on Preliminary Audit Results.
4.    Rate Recommendation to PFC.
5.    Merger Study: Update.
6.    WSPRS Study.

For further details, please visit the SCPP web site at http://leg.wa.gov/SCPP. Meeting start time is subject to change depending on the needs of the Committee.
________________________________________

Pension Policy, Select Committee - 7/19/2016 1:00 p.m.
Executive Committee
House Conf. Rms. B15/18
John L. O'Brien Building
Olympia, WA
REVISED ON 7/5/2016 AT 3:58 PM
Agenda:
1.    Approval of Minutes.
2.    AAG Update.
3.    Optional Discussion of Today's Full Committee Items.
4.    Constituent Correspondence.
5.    September Meeting Agenda.
6.    Discussion/Other Business.
1.    State Actuary Performance Review.

Meeting start time is subject to change depending on the needs of the Committee.

Note to readers:  The study can be quite complicated as there are a number of technical actuarial issues that most lay people are not able to address well.  I have listed here a series of questions that might be helpful.  I encourage you to use your own words and to investigate a bit by reading the Bill Report and the Fiscal Note for SB 6166.  See http://app.leg.wa.gov/billinfo/summary.aspx?bill=6668&year=2015.  That information will help you develop your own questions or to elaborate on the suggested questions listed here.  Yes, I know it is a pain.

You do not have to submit your questions immediately and we will be publishing more information.  Please contact us for more details if needed.

Finally, please submit some questions.  The legislature needs to know that we are very concerned about this proposal.

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