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Tag: Pension Funding Council

July
25th

State pension contributions to rise; state cost $390 million

UPDATED: Washington state’s Pension Funding Council voted Wednesday to recommend higher contribution rates for several state pension plans. The moves ultimately affect state and local government employers as well as workers, and the changes had mostly been assumed, according to Matt Smith, state actuary.

Smith had outlined options in an earlier report. You can see the many new rates here. Option B was selected, which means rates go up for most plans but remain the same for the Washington State Patrol Retirement System and Public Safety Employees Retirement System (which had faced

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