Select Committee on Pension Policy reviews 2025 pension legislation, schedules deeper study of complex funding changes

The Select Committee on Pension Policy received a high-level briefing on 2025 pension-related legislation and interim work-plan items, and members agreed to pursue deeper analysis of a complex funding bill and other statutory studies.

Melinda Zloxon, staff to the committee, summarized bills that originated from the committee’s interim work and other legislation of interest to the committee, noting which measures passed, which did not, and where statutory study mandates exist. She told members two SCPP-requested bills—one to provide a permanent plan 1 cost-of-living adjustment (House Bill 1292 / companion Senate bill 5113) and one to pay a retiree a full month of pension in the month of death (House Bill 1312 / companion Senate bill 5114)—did not pass the legislature this year. “My remarks will be high level, but there are more details in the handout,” Zloxon said.

The committee was told that an engrossed substitute bill (described in the briefing as Engrossed Substitute Senate Bill 5167) had a budget proviso directing the Select Committee to study “the tax, legal, actuarial, pension policy and administrative implications” of two specified bills affecting Law Enforcement Officers’ and Fire Fighters’ Plan 1 (LEOFF 1) and related termination/restatement proposals; the statute allows the committee to request assistance from the Department of Retirement Systems (DRS), the Attorney General’s Office, the state treasurer, the…