Washington HB1467 sets new contribution rates for various retirement systems to ensure adequate funding.

HB1467 amends the contribution rates for several retirement systems in Washington, including the public employees', teachers', law enforcement officers', firefighters', and school employees' retirement systems. The bill sets specific contribution rates for employers and members for the period from July 1, 2025, to June 30, 2026. It also establishes supplemental rates to fund benefit increases and unfunded actuarial liabilities. The rates are calculated based on projected future salary growth and system membership.

Washington HB1467 sets new contribution rates for various retirement systems to ensure adequate funding.

HB1467 amends the contribution rates for several retirement systems in Washington, including the public employees', teachers', law enforcement officers', firefighters', and school employees' retirement systems. The bill sets specific contribution rates for employers and members for the period from July 1, 2025, to June 30, 2026. It also establishes supplemental rates to fund benefit increases and unfunded actuarial liabilities. The rates are calculated based on projected future salary growth and system membership.