The “Pessimistic Investment Outlook” assumes a 5.6% rate of return over 15 years. This is a rate generally considered by actuaries as conservative.  In this case, the system would remain fully funded through 2013.   Like the “Expected Outlook” scenario, this projection assumes that pension contributions would resume when the system falls out of full funding status.  Even under this projection, the system remains in the healthy range for all but a few years.

So what good does it do to resume pension contributions?  Nobody or very few people will still be working by 2014.  The last LEOFF 1 hired will have 37 years of service.  Little money would be raised from contributions from employees or employers.  There is nobody to pay the tab.

Well, not quite.  The state is responsible to fund the system to a fully funded status.  Hence, the state would be the one making the contributions—not the employees.