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Bill

Bill

HB 1467

Concerning actuarial funding of pension systems.

2025-2026 Regular Session Introduced by Joe Fitzgibbon and 2 co-sponsors

HB 1467 modifies actuarial funding methods for Washington's public employee pension systems, potentially altering contribution requirements and long-term financial obligations.

Public hearing in the House Committee on Appropriations at 4:00 PM.
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Bill Summary · HB 1467

Legislative bill overview

HB 1467 addresses how Washington state pension systems are funded using actuarial methods. The bill modifies the funding requirements and calculations that determine how much money must be contributed to various public employee pension plans to ensure long-term solvency. It is currently in the early stages of the legislative process with a public hearing scheduled.

Why is this important

Pension funding directly affects state budgets and employee retirement security. Changes to actuarial funding methods can shift costs between current contributions, future liabilities, and taxpayers. This impacts both the financial sustainability of pension systems and the retirement benefits public employees can rely on.

Potential points of contention

  • Contribution rate impacts: Changes to actuarial methods could increase or decrease required employer/employee contributions, affecting labor negotiations and state budget priorities
  • Liability timing: Modifying how unfunded liabilities are calculated and amortized affects whether costs are deferred to future years or accelerated into current budgets
  • Stakeholder interests: Public employee unions, employers, and taxpayer groups typically have competing interests in how aggressively pensions are funded

Compiled from official sources — confirm details with the bill’s official record.

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