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, November 4, 2016

Board Receives Recognition Award for Funding

The LEOFF Plan 2 Retirement Board has received the Public Pensions Standards 2016 Recognition Award for Funding from the Public Pension Coordinating Council (PPCC). This is the second year in a row the Board was awarded this honor.
The (PPCC) is a coalition of three national associations that include more than 500 of the largest pension plans in the United States serving most of the nation’s 16 million employees of state and local government.
Eligibility for the Recognition Award for Funding entails meeting the professional standards for plan funding as set forth in the Public Pension Standards. 
The PPCC established the Public Pension Standards to reflect minimum expectations for public retirement system funding. The Standards serve as a benchmark by which to measure public defined benefit plans.


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.