PSE Blog

Back to Home Print This Page Email This Page

"Pensions" Posts

Partial service credit pension bill signed by governor
HB 1541 Ensign bill signing

Gov. Gregoire signed HB 1541 into law today, restoring partial service pension credit to a handful of school employees, including South Kitsap secretary Carey Ensign (above, second from right). Ensign has been pushing to correct an oversight in pension benefits since the late 1980's.

Congratulations to Carey for her perseverance!

 

Posted By: Rick Chisa on 3/18/2010 5:00:00 PM

comments (0) 2010 Session ,  Partial Service Retirement Credit ,  Pensions

DRS agrees to re-submit PERS 3 and SERS 3
One of PSE's issues this legislative session is to provide SERS 3 and PERS 3 members the ability to change their plan 3 contribution rate on an annual basis (just like the teachers can).  Currently, PERS 3 and SERS 3 members cannot change their contribution rate as long as they continue working for their employer.

This morning, in a meeting requested by PSE, and invited guests from the WEA and the Teamsters, DRS (Department of Retirement Systems) Director Steve Hill, agreed to re-submit the PERS 3 and SERS 3 plans to the IRS (Internal Revenue Service).  However, in recognition that the TRS 3 annual option is on thin ice (meaning it is very likely the IRS is going to reject their continued ability to annually change their contribution rates), the parties agreed that if the IRS approved the TRS 3 plan, the DRS will immediately re-submit the SERS 3 and PERS 3 plans to the IRS asking for a quick decision on these plan. 

When will we get a decision from the IRS?  According to the DRS, it could be sometime in 2010, or maybe 2011, or maybe...(let's hope it doesn't go any further out than that).  Note: the IRS has been known to drag its feet on these type of issues in the past.

Read More

 

Posted By: Doug Nelson on 2/3/2010 9:23:00 PM

comments (1) 2010 Session ,  Pensions

Speak Out on pension contribution rates
PSE has launched an exciting email campaign to call on our state legislators to support giving classified employees the ability to change their voluntary pension contributions every year.

This is important for two major reasons:
  1. Employees who have had their work hours reduced or are really straining to make ends meet could reduce their contributions and increase their take-home pay.
  2. Employees nearing retirement could increase their contribution to increase their pension benefit.
This change would apply to 59,000 PERS and SERS 3 members. Teachers enrolled in TRS 3 already have this benefit.

Click here to Speak Out today!

 

Posted By: Rick Chisa on 1/22/2010 4:25:00 PM

comments (0) 2010 Session ,  Pensions