Wash. Admin. Code § 296-14-8810 - [Effective 4/1/2025] Pension tables, pension discount rate and mortality tables

(1) The department uses actuarially determined pension tables for calculating pension annuity values, required pension reserves, and actuarial adjustments to monthly benefit amounts.

(a) The department's actuaries calculate the pension tables based on:

(i) Mortality tables from nationally recognized sources;

(ii) The department's experience with rates of mortality, disability, and remarriage for annuity recipients;

(iii) A pension discount rate of 4.0 percent for state fund pensions;

(iv) A pension discount rate of 5.4 percent for self-insured pensions, including the United States Department of Energy pensions; and

(v) The higher of the two pension discount rates so that pension benefits for both state fund and self-insured recipients use the same reduction factors for the calculation of death benefit options under RCW 51.32.067.

(b) The department's actuaries periodically investigate whether updates to the mortality tables relied on or the department's experience with rates of mortality, disability, and remarriage by its annuity recipients warrant updating the department's pension tables.

(2) To obtain a copy of any of the department's pension tables, contact the department of labor and industries actuarial services.

Notes

Wash. Admin. Code § 296-14-8810

Adopted by WSR 15-02-061, Filed 1/6/2015, effective 4/1/2015 Amended by WSR 16-05-087, Filed 2/16/2016, effective 4/1/2016 Amended by WSR 17-05-096, Filed 2/14/2017, effective 4/1/2017 Amended by WSR 18-05-081, Filed 2/20/2018, effective 4/1/2018 Amended by WSR 19-01-096, Filed 12/18/2018, effective 4/1/2019 Amended by WSR 20-02-114, Filed 1/2/2020, effective 4/1/2020 Amended by WSR 21-02-066, Filed 1/5/2021, effective 4/1/2021 Amended by WSR 22-05-075, Filed 2/15/2022, effective 4/1/2022 Amended by WSR 23-04-078, Filed 1/31/2023, effective 4/1/2023 Amended by WSR 24-02-069, Filed 1/2/2024, effective 4/1/2024 Amended by WSR 25-03-113, Filed 1/21/2025, effective 4/1/2025