Washington HB1474 increases monthly benefits for certain retirees of the public employees' and teachers' retirement system plan 1.

Washington HB1474 provides benefit increases for retirees of the public employees' retirement system plan 1 and the teachers' retirement system plan 1. Beneficiaries receiving benefits on specific dates will receive increases ranging from 1.5% to 3% of their monthly benefit, with caps at $62.50 or $110.00. The increases are effective on various dates starting from July 1, 2018, through July 1, 2025. This act does not apply to those receiving benefits under certain statutes.

Washington HB1474 increases monthly benefits for certain retirees of the public employees' and teachers' retirement system plan 1.

Washington HB1474 provides benefit increases for retirees of the public employees' retirement system plan 1 and the teachers' retirement system plan 1. Beneficiaries receiving benefits on specific dates will receive increases ranging from 1.5% to 3% of their monthly benefit, with caps at $62.50 or $110.00. The increases are effective on various dates starting from July 1, 2018, through July 1, 2025. This act does not apply to those receiving benefits under certain statutes.