This bill amends existing retirement funding law (RCW 41.45.010, 41.45.060, and 41.45.070), adds a temporary section to chapter 41.45 RCW, and changes procedures and funding rules for multiple public retirement systems (PERS, TRS, LEOFF, SERS, PSERS, and WSPRS). It sets legislative funding goals (for example, fully funding certain plans and amortizing LEOFF plan 1 by June 30, 2024), prescribes actuarial methods (aggregate actuarial method for combined plan 2/3 normal costs and modified entry age normal cost for certain plan 1 employer contributions), requires the state actuary to produce preliminary and final valuations under adopted assumptions and an asset smoothing technique, and requires a council (unnamed in the extracts) to adopt basic state and employer contribution rates on a biennial schedule subject to legislative revision. The bill also requires the department to charge supplemental contribution rates for additional benefits granted to members across multiple systems, specifies how supplemental rates are calculated (including fixed tenand fifteen-year amortization periods for specified benefit increases and adjustments), and authorizes the state treasurer to transfer required contributions for LEOFF plan 2 supplemental rates regardless of contrary statutory language. The act includes a new temporary section that revises contribution rates adopted by the council on July 17, 2024 and sets specified employer and member contribution rates for 2025–2026. Specified rates include, for July 1, 2025–June 30, 2026, a PERS basic employer rate of 7.91% (2.05% used solely to amortize the PERS plan 1 UAL), PSERS basic employer rate 9.16% (2.05% for PERS plan 1 UAL), LEOFF plan 1 basic employer rate 0%, Washington state patrol basic employer rate 16.35%, PERS plan 2 member rate 5.86%, PSERS plan 2 member rate 7.11%, LEOFF plan 1 member rate 0%, and Washington state patrol member rate 8.75%. For September 1, 2025–August 31, 2026, specified education system rates include TRS basic employer rate 9.05% (1.1% used solely to amortize TRS plan 1 UAL), SERS basic employer rate 9.29% (2.05% used solely to amortize PERS plan 1 UAL), TRS plan 2 member rate 7.95%, and SERS plan 2 member rate 7.24%. The bill also directs that institutions of higher education begin contributing a level percentage of pay toward a portion of projected supplemental retirement costs beginning in 2035. The act is declared necessary for the immediate preservation of state government and takes effect July 1, 2025. This is a fiscal and procedural statutory amendment and temporary rate-setting measure; it does not create a new crime or change criminal penalties in the provided extracts. The changes affect how employer and member contribution rates are calculated, the amortization periods for unfunded liabilities and benefit improvements, the charging of supplemental rates, and specified temporary contribution amounts. The extracts are incomplete in places: the amendment to RCW 41.45.070 is cut off mid-sentence, the statutory identity or authority of "the council" and the referenced "director" are not specified in these extracts, and there are apparent discrepancies in amortization period language (references to both ten-year and fifteen-year rolling amortizations) that the provided facts do not fully reconcile.

If enacted, state and local public employers (including school districts, state agencies, and institutions of higher education) will face set contribution requirements and clearer rules for charging extra "supplemental" contribution rates when pension benefits are increased. For the 2025–2026 periods the bill fixes specific employer and member rates (for example, PERS employers at 7.91% with 2.05% earmarked to pay down PERS plan 1 unfunded liability, PSERS employers at 9.16% with 2.05%, WSPRS employers at 16.35%, and specified member rates such as PERS plan 2 members at 5.86%), and sets separate employer and member rates for education systems beginning September 1, 2025 (for example, TRS employers at 9.05% with 1.1% for TRS plan 1 UAL). These rates become effective July 1, 2025 (or September 1, 2025 for some education rates) and the state actuary must provide valuations and calculate supplemental rates for benefit increases and postretirement adjustments that employers will be charged. Practically, this shifts predictable near-term costs onto employers’ payroll budgets and requires the Department and state treasurer to collect and transfer supplemental contributions (including a required transfer for LEOFF plan 2 regardless of contrary statutes), while institutions of higher education must begin planning to fund part of their supplemental retirement obligations on a level-percentage basis starting in 2035. The council may change rates every two years and the legislature can revise them, so costs could be adjusted in future biennia; some key implementation details are unclear in the provided text (for example, which department is responsible in every provision and certain amortization period inconsistencies), which could affect timing and exact amounts employers ultimately pay.