House Appropriations
Senate Ways and Means

All Plans

•  Hold hearings on pension proposals before the

 Legislature

Office of the State Actuary  /  RCW 44.44.040

All Plans

•  Prepare actuarial valuations of the Plans

•  Provide fiscal notes/all pension legislation

•  Advise Legislature/Governor on pension issues

•  Staff the Select Committee on Pension Policy

•  Provide actuarial assistance to:

Department of Retirement Systems

LEOFF 2 Retirement Board

Pension Funding Council  /  RCW 41.45

All Plans, except LEOFF 2

•  Adopt economic and demographic assumptions

•  Adopt contribution rates

•  Provide for an actuarial audit of valuation results

Pension Funding Workgroup /  RCW 41.45.120

All Plans, except LEOFF 2

•  Provide support to the Pension Funding Council

•  Seek public input on pension funding issues

Select Committee on Pension Policy  /  RCW 41.04.281

All Plans

•  Study state pension issues-benefits and funding

•  Develop policy and make recommendations to the

 Legislature/Pension Funding Council

State Actuary Appointment Committee  /  RCW 44.44.013

All Plans

•  Appoint or remove the state actuary by a 2/3 vote

•  Approve salaries of state actuary personnel  

RCW 44.44.030

Office of Financial Management  /  RCW 43.41.110

All Plans

•  Advise Governor on benefit funding policy within the

state budget

Department of Retirement Systems  /  RCW 41.50

All Plans

•  Collect member/employer contributions

•  Maintain records

•  Pay benefits

•  Communicate benefit information

•  Advise Governor on pension benefits

Employee Retirement Benefits Board  /  RCW 41.50.088

Plan 3 defined contribution programs only

 •  Recommend investment options for member contributions

 •  Determine administrative charges

State Investment Board  /  RCW 43.33A

All Plans

• Invest retirement funds

• Maintain fund accounting

LEOFF Plan 2 Retirement Board  /  RCW 41.26.717, .720

•  Fiduciary responsibility

•  Adopt actuarial assumptions and contribution rates

•  Study LEOFF Plan 2 pension issues-benefits and funding

•  Develop policy and make recommendations to the Legislature
   regarding LEOFF 2

State Board for Volunteer Fire Fighters and Reserve Officers  / 

RCW 41.24

•  Collect contributions

•  Maintain records

•  Pay benefits

•  Communicate benefit information