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Tag: Barbara Bailey

March
22nd

State treasurer adds voice in opposition to pension changes that could put more workers in 401(k)-style plans

State Treasurer Jim McIntire is lining up with many of his fellow Democrats in opposition to a Senate plan to alter Washington’s state-government pensions. McIntire voiced his opposition to using a 401(k) or defined contribution plan in an op-ed column Friday in the Seattle Times.

One proposal from Republican Sen. Barbara Bailey is voluntary, letting new state hires opt in if they prefer to go to the more flexible approach that offers fewer guarantees in old age. But McIntire argues there is no problem to solve and that employees are not demanding the new option:

If

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Feb.
28th

Senate Republicans move ‘lite’ version of state worker pension reform; wellness and contracting out bills also OK’d by budget committee

Facing a deadline this week for passing fiscal bills, the Senate Ways and Means Committee gave approval early Thursday evening to three proposals opposed by state-employee groups.

One proposal, Senate Bill 5851, gives new state employees the option of entering into a 401(k)-style retirement plan, called the Washington Public Employees Savings Plan.

Offered by Republican Sen. Barbara Bailey of Oak Harbor, the concept appears to be a lighter, kinder version of the one pushed by Senate Majority Leader Rodney Tom, who wants  to force new hires and current state employees younger than 45 into defined contribution

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