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Bonney Lake councilors discuss state proposal to merge LEOFF 1 and 2 funds; consider letter of opposition
Summary
Council members raised concerns about a state proposal to combine the Law Enforcement Officers' and Fire Fighters' Retirement System plans and a possible transfer of funds to the state general fund; councilors discussed drafting a letter of opposition though no formal action was taken.
Council member Hubler said the state is discussing combining the LEOFF 1 and LEOFF 2 retirement plans and possibly transferring money into the state general fund, and she asked whether the City of Bonney Lake should send a letter opposing that action.
The issue arose during council open discussion. Council member Hubler said, “Right now they're talking about taking $1,000,000,000 from it to put into the state's general fund to offset $1,000,000,000…
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