The LEOFF Plan 2 Retirement Board is holding a full board meeting on Wednesday, July 25th at 9:30 AM. Materials will be available on their website on Monday, July 23rd.

Budget Update February 2018

Both the House (PSHB 2299) and Senate 2018 (PSSB 6032) Supplemental Budgets have been released.  There are two key items of interest:

Budget Update June 2017

A secret attempt to pass a LEOFF 1/LEOFF 2 budget was made during the final budget negotiantions.  It failed.  See the full article for the elements that impact the pensions and what happened.

Merger Attempt June 2017

A secret attempt to pass a LEOFF 1/LEOFF 2 budget was made during the final budget negotiantions.  It failed.  In this article we discuss what was in that attempt and who supported it.

March 21, 2017

Senate Releases 2017-2019 Omnibus Operating Budget (PSSB 5048)

Issues Impacting LEOFF Plan 2:
Contribution Rates (Sections 939 & 940)

Except for fire protection districts, the State contribution to LEOFF Plan 2 is eliminated making the contribution rate funding ratio 50% member and 50% employer. The state saves $109 million in 2017-19 ($111 million in 2019-21).

Merger (not included in budget proposal)

LEOFF 2 BOARD REPORT | December 8, 2016

The LEOFF 2 Board met on Wednesday, December 8, 2016.  Unfortunately there was no quorum so not official business could be conducted.  Never the less, they did present the final version of their “update” of the 2011 LEOFF 1/LEOFF 2 merger study. 

Sept 21 2016 - LEOFF 2 Board Report
There was nothing new on the merger issue except that Steve Nelson of the LEOFF 2 Board did a complete and detailed discussion of the issues. He really demonstrated how complicated the matter is. I would urge everyone to carefully read his presentation documents.  Steve discusses the nature and structure of the LEOFF plan as well as its history.  While we see a few items in his report differently it is still a well written and informative document that will provide the reader will a good understanding of how the system works, how it has been attacked and where it stands today.

July 26, 2016 - LEOFF 1/TRS1 Round Table

The first round table discussion on the merger will be on Wednesday July 27th 2016 at 2pm, after the LEOFF II board meeting. The meeting will be in the state investment board conference room located at 2100 Evergreen Parkway Drive SW in Olympia. The location is not on the capital campus it is off highway 101 at the Black Lake exit in West Olympia. Please check MapQuest for directions or call the LEOFF II board office at (360) 586-2323.

July 20, 2016 - LEOFF 1/LEOFF 2 Merger Study

The LEOFF 2 Board will consider a LEOFF 1/LEOFF 2 Merger at its July 27th meeting.

February 7, 2015:  Week 4 of the current legislative session has come to an end.  There is no news to report in reference to LEOFF 1 issues.  Thankfully we are still off the radar.

LEOFF 2 does have some action:                                                                                             

The primary goal is to maintain the pension contribution rates adopted by the LEOFF 2 Board and uphold the authority of the LEOFF 2 board to set actuarial assumptions and contribution rates for the plan.  A second goal is get the legislature to renew its commitment to the The Local Government Public Safety Enhancement Account that was established in 2009 to provide revenue to the LEOFF pension system and local government public safety.

These are items that will be included in the budget. Both are currently included in the Governor's proposed budget: HB 1106 and  SB 5077

January 25, 2015:  On January 12th, the legislature began its 64th session.  This is a budget session where the legislature will be writing the two year budget for the state.  It should be an interesting time for a number of reasons.  First, of course, is the fact that there are two very distinct views on the budget needs of the State.  The democrats control the house and have one view while the republicans control the senate with a different view. 

December 27, 2014:  The recent pension law changes for multiemployer plans continue to raise alarms.  Today another article appeared in the Seattle Times discussing this legislation.  While this does not impact LEOFF 2 it certainly is cause to pay very close attention to the actions of the legislators in the session that starts in just a few days.

Tucked into the federal spending bill President Obama signed last week was a provision that allows “multiemployer” pension plans to cut retirees’ pension checks to avoid running out of money. But some worry that may eventually lead to similar rules for other pension plans.

March 11, 2013

The current legislative session ends on March 13, 2014.  As of now only SB 6201 impacts LEOFF 2. It authorizes plan 2 members of the law enforcement officers' and firefighters' retirement system, at the time of retirement, to purchase an optional actuarially equivalent life annuity benefit from the law enforcement officers' and firefighters' retirement system plan 2 retirement fund.

February 2, 2013

Retired Fire Fighter and former State Senator Larry Vognild passed away on January 4, 2014. Larry was a retired City of Everett Battalion Chief. Larry was recruited to run against incumbent Senator August Mardesich, an ardent opponent of the State pension systems. Mardesich was the leader along with Representative Helen Sommers, Representative Joe Taller and Senator Bud Shinpoch in closing LEOFF I and establishing the Plan II. Senator Vognild quickly became a leader in the Senate, held office for 16 years and remained a friend of the fire and police. Larry often weighed in on LEOFF issues that have surfaced since he left the Senate.

September 1, 2013 

It has been a real delight to have the legislature out of session.  That has provided a bit of extra time to enjoy this great summer.  We have had our ears to the ground, and so far, the have been no indications of any planned legislation that might impact LEOFF 2. 

July 2, 2013

The 2013 legislative session is finally over -- only one overtime period.  While we had a scare with one bad bill, we managed to get through the session with no impact on the pension.

April 28, 2013

On Sunday April 28th the legislature adjourned the 105-day regular special session. Governor Jay Inslee announced that he will call the legislature into a special 30-day session beginning on May 13th.  SB 5916, was introduced and passed out of committee during the final days of session. However, it did not make it to the floor. Senator Barbara Bailey was a sponsor of this bill. Her office reports that the bill will not be moving forward this year.

April 24, 2013

SB 5916 passed out of Ways & Means with a “do pass“ recommendation on Tuesday, April 23^rd. It is bad bill for both LEOFF 1 and LEOFF 2.

March 15, 2013 - Legislative Update

March 15th, was the 61st day of the 105-day legislative session. The cutoff date for bills to pass out of their respective chambers was March 13th. So, we are at the halfway point.  At this time there have been no bills that would adversely impact LEOFF 2 retired officers.

April 6, 2013 - Legislative Update

This week the State Senate released their version of the budget, SB 5034 and passed it out of the Senate Ways & Means Committee. The Senate version of the budget does not raise taxes so the spending level is lower than the version released by Governor Inslee.
    
LEOFF II contribution rates are fully funded in all of the budget proposals, House, Senate and Governor, so it continutes to look like we will not have any last minute issues.