Department of Retirement Systems - Current Law
RCW 41.50
The Department of Retirement Systems administers retirement benefits for public employees throughout Washington. This includes teachers, classified public school employees, law enforcement officers, firefighters, judges, and others who work for the state and participating cities, counties, and political subdivisions. The department also manages the Deferred Compensation Program, which allows public employees to defer a portion of their earnings until retirement or termination of employment.
Agency Mission
We provide information, tools, expertise, and services that ensure our members receive the retirement benefits they earn while in public service.
| Request | 125,401,000 |
|---|---|
| Net change from current biennium | 38,552,000 Increase |
| Percent change from current biennium | 44.4% Increase |
Operating Budget: Summary
Appropriated Funds
| 2021-23 Appropriations | Appropriated Funds | Expenditures | |||
|---|---|---|---|---|---|
| Amount | Estimated Balance | 2019-21 Actual | 2021-23 Estimated | 2023-25 Proposed | |
| Info Tech Invest Rev Acct - Nonappropriated | 15,141,380 | ||||
| (6,912,000) | Dept of Retirement Systems Expense - Nonappropriated | 9,265,674 | 6,912,000 | 6,912,000 | |
| WA State Patrol - Plan 1 - Nonappropriated | 141,309,858 | ||||
| Judges' Retirement Account - Nonappropriated | 522,358 | ||||
| WSP Retirement System Plan 2 Acct - Nonappropriated | 533,060 | ||||
| Public Employees' Retire Plan I - Nonappropriated | 2,386,779,910 | ||||
| Teachers' Retirement Plan I Account - Nonappropriated | 1,773,784,289 | ||||
| School Employee Combined Plan 2 & 3 - Nonappropriated | 687,007,059 | ||||
| Public Safety Employees' Plan 2 - Nonappropriated | 17,647,998 | ||||
| Public Employees' Comb Plan 2 & 3 - Nonappropriated | 3,321,482,418 | ||||
| Teachers' Combined Plan II & III - Nonappropriated | 1,814,660,789 | ||||
| Deferred Compensation Principal - Nonappropriated | 630,800,576 | ||||
| Judicial Retirement Principal Acct - Nonappropriated | 1,698,731 | ||||
| L.E.O.F.F. Retirement Plan I Acct - Nonappropriated | 742,841,419 | ||||
| L.E.O.F.F. Retirement Plan II Acct - Nonappropriated | 787,995,397 | ||||
| (342,000) | OASI Revolving Account - Nonappropriated | 309,523 | 342,000 | 366,000 | |
| Washington Judicial Retirement Acct - Nonappropriated | 15,473,948 | ||||
| (4,678,000) | Deferred Compensation Admin Account - Nonappropriated | 5,099,344 | 4,678,000 | 5,084,000 | |
| 609,000 | General Fund - State | 609,000 | 394,000 | ||
| 74,308,000 | Dept of Retirement Systems Expense - State | 59,142,934 | 74,308,000 | 112,645,000 | |
| 74,917,000 | (11,932,000) | Total Appropriated Funds | 12,411,496,665 | 86,849,000 | 125,401,000 |
Non-Appropriated Funds
Operating Budget: Program Summary
| Program Title | Actual | Estimated | Proposed | ||
|---|---|---|---|---|---|
| Actual | Estimated | Estimated | Proposed | Proposed | |
| Annual Total | 45,999,060 | 41,112,668 | 14,412,725 | 62,263,000 | 63,138,000 |
Operating Budget: Change from Preceding Biennium
| Actual | Estimated | Proposed | |||
|---|---|---|---|---|---|
| Amount | Percent | Amount | Percent | Amount | Percent |
| 19,999,549 | 29.0% | (33,433,462) | (37.6%) | 69,875,606 | 125.8% |
Employment Summary
| Actual | Estimated | Proposed | |||
|---|---|---|---|---|---|
| 2020-21 Actual | 2021-22 Estimated | 2022-23 Estimated | 2023-24 Proposed | 2024-25 Proposed | |
| FTE Staff Years | 243.7 | 250.6 | 251.5 | 331.5 | 332.2 |
