Feb
10
2012
SSB 5966 (Establishing the office of the health care authority ombudsman) passed a Senate Vote today, unanimously with a vote of 47-0, with 2 Senators excused.
http://apps.leg.wa.gov/billinfo/summary.aspx?bill=5966&year=2011
Click here to see the Substitute Senate Bill 5966
Don’t forget to send a “Thank You” message to your State Senator for their vote on this bill.
Permanent link to this article: http://www.rpecwa.org/ssb-5966-passes-senate-vote-47-0/
Feb
07
2012
SB 5966 has been pulled from the Senate Rules Committee and is up for vote in the Senate. This bill requests that a volunteer Health Care Authority Ombudsman be appointed to the Insurance Commissioner’s Office.
http://apps.leg.wa.gov/billinfo/summary.aspx?bill=5966&year=2011
We need all RPEC Members to contact their local State Senator and urge them to vote YES to pass SB 5966 – Health Care Authority Ombudsman!
You can locate your Senator’s contact information here – http://www.leg.wa.gov/Senate/Senators/Pages/default.aspx
Please initiate local chapter telephone trees and encourage members without e-mail to call.
Permanent link to this article: http://www.rpecwa.org/sb-5966-up-for-senate-vote-action-call/
Feb
06
2012
The following is a letter from RPEC Interim Executive Director George Masten to the Members of the Senate Ways & Means Committee in regards to SB 6378.
During testimony on February 2nd regarding Senator Zarelli’s pension reform bill, I made a point that if PERS, SERS and TRS Plan II’s were capped and all future employees were put in PERS, SERS and TRS plan III’s or a 401K type plan, it would affect all persons currently receiving retirement benefits as well as the tax payers. During the discussion that followed I believe this issue may have been diluted. I would like to make this statement clear.
If the legislature were to cap the Plans II and go to Plans III or a 401K – type plan for all new hires, the state would be headed toward a “a pay as you go ” way of funding pensions. The State Investment Board would no longer be able to make the long-term investment decisions that it currently does. The investment board is able to make long-term investment decisions because they have a stable income upon which they can rely . If, the legislature were to cap the Plan II’s and move totally to Plan III’s, it would upset that income reliability. The investment board would be forced to keep a much larger amount of liquid assets in order to cover decisions of plan members to move their money between investments available to `members of Plan IIIs. In addition cash would be needed for those who leave for employment in the private sector and wish to cash out all of their funds or those who retire and ask for a lump sum pay out. There would be no way to plan ahead as to how much cash would be needed at any given time. The investment board would be forced to make short-term investments, investments that do not earn the kinds of returns the investment board is now able to earn.
The investment board has been extremely successful in making money for the trust fund, even in bad times, because of its ability to make long-term investments. That is why Washington’s pension fund is one of the top three in the nation, the cost of administering the plans are below the average of other plans and the returns on the investment are among the highest.
Actuaries around the country tend to agree that between 75 and 84% of pensions are funded out of the investment earnings on the trust funds. Washington’s Pension Trust Fund is healthy enough to pay pensions for many years to come even if the employers decide not to pay their fair share this year. It is important to keep in mind, PENSIONS ARE FUNDED OUT OF THE TRUST FUND, NOT THE OUT OF THE STATE BUDGET.
George D Masten
Interim Executive Director
Retired Public Employees of Washington
Permanent link to this article: http://www.rpecwa.org/letter-to-senate-ways-means-committee/
The Retired Public Employees Council of Washington (RPEC) was formed in 1971 as an organization to promote the interests of retired state, county, city and local government employees.
Our mission is to unite retired public employees for their mutual benefit and welfare. We do this by promoting legislation to improve financial and medical benefits, providing information to and otherwise supporting members, and working closely with other organizations.
The Retired Public Employees Council of Washington is the only organization dedicated solely to the issues directly affecting PERS retirees.
