This is the official blog of the Law Enforcement Officers' and Fire Fighters' (LEOFF) Plan 2 Retirement Board. Posts are provided for the benefit of LEOFF 2 members and plan stakeholders. For more information, visit our website.

Friday, August 19, 2016

Governor Inslee Appoints Tracy Guerin as DRS Director

Governor Jay Inslee has announced the appointment of Tracy Guerin as director of the Washington State Department of Retirement Systems.

Guerin currently serves as deputy director of the Office of Financial Management, the state’s budget office. She replaces Marcie Frost, who has accepted a position as CEO of the California Public Employees’ Retirement System.

Full Article

Friday, July 8, 2016

Life Insurance Offering - OPEN ENROLLMENT


From the President of NCPERS:
Participating in a pension plan for public employees can be a great first step to protecting your family’s future. But, if you’re like many, your needs may not be fully met by your pension plan. That’s where the National Conference on Public Employee Retirement Systems (NCPERS) Family Protection Plus can help.

This voluntary Group Decreasing Term Life Insurance plan is custom designed especially for public employees like you. It offers a supplementary survivor’s benefit to augment your retirement system’s benefits to give your family extra financial security when they need it most. A valuable member benefit regardless of your age, it offers supplemental protection, including:
  • Decreasing Term Life Insurance—For you.
  • Accidental Death & Dismemberment Insurance—For you.
  • Dependent Term Life Insurance—For your spouse or domestic partner and all of your eligible children.
Plus, you can choose from two pricing options for all of this protection! Pay $10 a month (about 33 cents a day), or $17 a month (about 56 cents a day), depending on the amount of coverage you want. The $17 option also includes an extra feature. Learn more about it in this brochure.

Our plan is issued by The Prudential Insurance Company of America (Prudential)—a name you know and trust.1 Since our plan’s inception more than 40 years ago, Prudential has paid over $105 million to NCPERS members and their beneficiaries. The plan is designed to be financially sound, with plan reserves committed to maximize benefits to participants. It currently serves the needs of over 100,000 public employee retirement system members and their dependents nationwide.

We’re pleased to offer you the opportunity to review your insurance needs and purchase supplemental insurance for you and your family.

Don’t miss out—open enrollment August 1 through September 30!

For more information, visit: www.ncpersfamilyprotection.com

Thursday, March 24, 2016

2016 Cost of Living Adjustments (COLAs)

In accordance to RCW 41.26.440, a Cost of Living Adjustment (COLA) will be applied to LEOFF 2 member benefits.  The COLA will go into effect July 1, 2016 as follows:
 

Questions regarding the COLA should be directed to the Department of Retirement Systems.

Monday, March 14, 2016

Update your Retirement Beneficiaries Online

The Department of Retirement Systems (DRS) has just released a new online tool to help you ensure your remaining benefit will quickly go to the right person(s) down the road. Now you can update your beneficiary choices, including mailing addresses and benefit percentages, within your online account access.

“We hear from our customers that they want to easily make changes to their information, and they want to see only the information that applies to their specific plans or program,” says DRS Director Marcie Frost. “These new tools allow just that.”

When you log in to online account access (under “Your Retirement Account” on the DRS home page), you will see the words “My Account” on the left-hand side of the page. Select this link to find a list of items you can view or edit. Select “Beneficiary Designation” to update your beneficiary information. Once you’re finished, select “Submit.”

It’s that easy. Your beneficiary information will stay in your online account. You can update it at any time.

This tool is available for active and inactive members of Washington state retirement plans as well as participants in the state Deferred Compensation Program (DCP). If you are already retired or receiving a benefit and want to change your beneficiary designation, you’ll need to submit a paper form for now. We intend to develop an online tool for you at a future date.