§ 41.45.010 Intent — Goals
§ 41.45.020 Definitions
§ 41.45.030 State actuary to submit information on the experience and financial condition of each retirement system — Adoption of long-term economic assumptions
§ 41.45.035 Long-term economic assumptions — Investment rate of return assumptions — Asset value smoothing technique
§ 41.45.050 Contributions to be based on rates established in this chapter — Allocation formula for contributions
§ 41.45.060 Basic state and employer contribution rates — Methods used — Role of council — Role of state actuary
§ 41.45.0604 Contribution rates — Law enforcement officers’ and firefighters’ retirement system plan 2
§ 41.45.061 Required contribution rates for plan 2 members
§ 41.45.062 Annual contribution rate increases — Employer, state, and plan 2 members
§ 41.45.0621 Plan 1 unfunded accrued actuarial liabilities — Contributions in addition to RCW 41.45.062 — Intent
§ 41.45.0631 Washington state patrol retirement system — Contribution rates — Allocation of costs
§ 41.45.067 Failure of state or employer to make required contribution — Resulting increase in contribution rate borne in full by state or employer — Members’ contribution deducted each payroll period
§ 41.45.070 Supplemental rate
§ 41.45.080 Additional contributions may be required
§ 41.45.090 Collection of actuarial data
§ 41.45.100 Pension funding council — Created
§ 41.45.110 Pension funding council — Audits required — Select committee on pension policy
§ 41.45.120 Pension funding work group
§ 41.45.130 Public employees’ retirement system plan 2 assets divided — Assets transferred to school employees’ retirement system
§ 41.45.150 Unfunded liabilities — Employer contribution rates
§ 41.45.155 Certain plans 2 and 3 normal costs — Minimum basic employer contribution rates
§ 41.45.158 Certain plans 2 and 3 normal costs — Minimum member contribution rates
§ 41.45.200 Contribution rates for certain justices and judges — Public employees’ retirement system
§ 41.45.203 Contribution rates for certain justices and judges — Teachers’ retirement system
§ 41.45.207 Contribution rates for certain district or municipal court judges — Public employees’ retirement system
§ 41.45.230 Pension funding stabilization account — Creation
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Terms Used In Washington Code > Chapter 41.45 - Actuarial funding of state retirement systems

  • Actuarial value of assets: means the value of pension plan investments and other property used by the actuary for the purpose of an actuarial valuation. See Washington Code 41.45.020
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Council: means the pension funding council created in RCW 41. See Washington Code 41.45.020
  • Department: means the department of retirement systems. See Washington Code 41.45.020
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Normal cost: means the portion of the actuarial present value of projected benefits and expenses that is allocated to a period, typically twelve months, under the actuarial cost method. See Washington Code 41.45.020
  • Ranking minority member: The highest ranking (and usually longest serving) minority member of a committee or subcommittee.
  • Select committee: means the select committee on pension policy created in RCW 41. See Washington Code 41.45.020
  • state actuary: means the state actuary employed under chapter 44. See Washington Code 41.45.020
  • State retirement systems: means the retirement systems listed in RCW 41. See Washington Code 41.45.020
  • Statute: A law passed by a legislature.
  • Unfunded liability: means the unfunded actuarial accrued liability of a retirement system. See Washington Code 41.45.020
  • Washington state patrol retirement system: means the retirement benefits provided under chapter 43. See Washington Code 41.45.020