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Bill

SB 5113

Concerning cost-of-living adjustments for plan 1 retirees of the teachers' retirement system and public employees' retirement system.

2025-2026 Regular Session Introduced by Matt Boehnke and 9 co-sponsors

SB 5113 modifies cost-of-living adjustments for Washington's oldest public pension retirees to address inflation-driven erosion of fixed benefits.

By resolution, reintroduced and retained in present status.
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Bill Summary · SB 5113

Legislative bill overview

SB 5113 addresses cost-of-living adjustments (COLAs) for Plan 1 retirees in Washington's Teachers' Retirement System (TRS) and Public Employees' Retirement System (PERS). Plan 1 represents the oldest retirement plans with fixed benefit formulas, and this bill modifies how these retirees receive adjustments to maintain purchasing power during inflationary periods.

Why is this important

Washington has approximately 70,000+ Plan 1 retirees whose fixed pensions have eroded significantly due to inflation over decades. This directly affects retired teachers and public employees' ability to afford basic living expenses. The bill's outcome will determine whether these retirees receive enhanced benefits or maintain current COLA structures, impacting both retiree welfare and state pension obligations.

Potential points of contention

  • Fiscal impact and state budget: Enhanced COLAs increase long-term pension liabilities; the bill's cost could affect other state priorities or require revenue adjustments
  • Equity between plan types: Plan 1 retirees may receive different treatment than Plan 2/3 members, raising fairness questions across retirement tiers
  • Sustainability concerns: Whether COLA increases are sustainable given Washington's pension funding obligations and investment performance volatility

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

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