Department of Retirement Systems
| Average Annual FTEs | Near General Fund State | Other Funds | Total Funds | |
|---|---|---|---|---|
| (Dollars in Thousands) | ||||
| Current Budget | 287.5 | 0 | 83,311 | 83,311 |
| 2021-23 Maintenance Level | 287.5 | 0 | 83,549 | 83,549 |
| Difference from 2021-23 Original | 0.0 | 0 | 238 | 238 |
| % Change from 2021-23 Original | 0.0% | 0.0% | 0.29% | 0.29% |
2022 Policy Other Changes |
||||
| Adding Roth Option to DCP | 1.5 | 609 | 0 | 609 |
| Implement Survivor Option Change | 0.20 | 0 | 93 | 93 |
| Resources to Process Retirements | 5.7 | 0 | 1,054 | 1,054 |
| 2022 Policy Other Changes Total | 7.4 | 609 | 1,147 | 1,756 |
2022 Policy Comp Changes |
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| State Employee Benefits | 0.0 | 0 | 6 | 6 |
| Non-Rep General Wage Increase | 0.0 | 0 | 732 | 732 |
| PERS & TRS Plan 1 Benefit Increase | 0.0 | 0 | 22 | 22 |
| 2022 Policy Comp Changes Total | 0.0 | 0 | 760 | 760 |
2022 Policy Central Services Changes |
||||
| Archives/Records Management | 0.0 | 0 | 5 | 5 |
| Audit Services | 0.0 | 0 | 3 | 3 |
| Legal Services | 0.0 | 0 | 13 | 13 |
| CTS Central Services | 0.0 | 0 | 258 | 258 |
| DES Central Services | 0.0 | 0 | 6 | 6 |
| OFM Central Services | 0.0 | 0 | 314 | 314 |
| 2022 Policy Central Services Changes Total | 0.0 | 0 | 599 | 599 |
| Total Policy Changes | 7.4 | 609 | 2,506 | 3,115 |
| 2022 Policy Level | 294.9 | 609 | 86,055 | 86,664 |
| Difference from 2021-23 Original | 7.4 | 609 | 2,744 | 3,353 |
| % Change from 2021-23 Original | 2.6% | 0.0% | 3.3% | 4.0% |
Policy Changes
Audit Services
Adjustments are made for each agency’s anticipated cost of audits performed by the State Auditor’s Office. (Dept of Retirement Systems Expense - State)
Legal Services
Adjustments are made for each agency's anticipated cost of Attorney General's Office legal services based on a three-year average. Because legal services costs are based on usage, funding provided in the central service model is not all inclusive. (Deferred Compensation Admin Account - Non-Appropriated, Dept of Retirement Systems Expense - State)
DES Central Services
Adjustments are made to reflect each agency’s anticipated share of charges from the Department of Enterprise Services for campus rent, parking, security and contracts; capital project surcharges; financing cost recovery; public and historic facilities; real estate services; risk management services; personnel service rates; the Perry Street and Capitol Campus child care centers; small agency services; and the department’s enterprise applications. See the 2021-23 Budget Instructions for allocation methodologies. (Dept of Retirement Systems Expense - State)
Adding Roth Option to DCP
Funding is provided to add a Roth option to the state’s Deferred Compensation program (DCP). (General Fund - State)
Implement Survivor Option Change
Funds are provided to finish implementation of Senate Bill 6417 (Chapter 161, Laws of 2020). While the agency received funding in the 2019-21 biennium, much of it could not be spent as the agency did not receive a determination from the Internal Revenue Service that the proposed benefit conforms with federal law until after the 2021-23 biennium started. (Dept of Retirement Systems Expense - State)
Resources to Process Retirements
Funding is provided to hire additional retirement specialists. (Dept of Retirement Systems Expense - State)
State Employee Benefits
Health insurance funding is provided for state employees who are not covered by the healthcare coalition. The insurance funding rate is $936 per employee per month for fiscal year 2022 and $1,130 per employee per month for fiscal year 2023. (Dept of Retirement Systems Expense - State)
Non-Rep General Wage Increase
A general wage increase of 3.25%, effective July 1, 2022, is provided for state employees who are not represented by a union or who are covered by a bargaining agreement that is not subject to financial feasibility determination. (Dept of Retirement Systems Expense - State, Deferred Compensation Admin Account - Non-Appropriated, OASI Revolving Account - Non-Appropriated)
PERS & TRS Plan 1 Benefit Increase
For eligible Public Employees' and Teachers' Retirement Systems Plan 1 members, this item provides an increase of 3%, up to a maximum of $110 per month. (Dept of Retirement Systems Expense - State, Deferred Compensation Admin Account - Non-Appropriated)
Archives/Records Management
Adjustments are made for each agency's anticipated share of charges for archives and records management services provided by the Secretary of State's Office. (Dept of Retirement Systems Expense - State)
CTS Central Services
Adjustments are made to reflect each agency's anticipated share of charges from Consolidated Technology Services (CTS) for the Office of the Chief Information Officer, Office of Cyber Security, state network, enterprise services, small agency IT services, security gateways, and geospatial imaging services. See the 2021-23 Budget Instructions for allocation methodologies. (Deferred Compensation Admin Account - Non-Appropriated, OASI Revolving Account - Non-Appropriated, Dept of Retirement Systems Expense - State)
OFM Central Services
Adjustments are made to reflect each agency’s anticipated share of charges for existing statewide applications, the One Washington program, and other central services provided by the Office of Financial Management. See the 2021-23 Budget Instructions for allocation methodologies. (OASI Revolving Account - Non-Appropriated, Dept of Retirement Systems Expense - State, Deferred Compensation Admin Account - Non-Appropriated)
