TRS & PERS plan 1 COLA

AN ACT Relating to providing a cost-of-living adjustment for plan 1
1 retirees of the teachers' retirement system and public employees' 2
retirement system; amending RCW 41.32.4992 and 41.40.1987; and 3
providing an effective date. 4
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:5
Sec. 1. RCW 41.32.4992 and 2024 c 255 s 1 are each amended to 6
read as follows: 7
(1) Beneficiaries who are receiving a monthly benefit from the 8
teachers' retirement system plan 1 on July 1, 2017, shall receive, 9
effective July 1, 2018, an increase to their monthly benefit of one 10
and one-half percent multiplied by the beneficiaries' monthly 11
benefit, not to exceed $62.50. 12
(2) Beneficiaries who are receiving a monthly benefit from the 13
teachers' retirement system plan 1 on July 1, 2019, shall receive, 14
effective July 1, 2020, an increase to their monthly benefit of three 15
percent multiplied by the beneficiaries' monthly benefit, not to 16
exceed $62.50. 17
(3) Beneficiaries who are receiving a monthly benefit from the 18
teachers' retirement system plan 1 on July 1, 2021, shall receive, 19
effective July 1, 2022, an increase to their monthly benefit of three 20
S-3508.1
SENATE BILL 5862
State of Washington 69th Legislature 2026 Regular Session
By Senators Dozier, Bateman, Christian, Goehner, Hasegawa, Holy,
Lovelett, Wagoner, and J. Wilson
Prefiled 12/09/25. Read first time 01/12/26. Referred to Committee
on Ways & Means.
p. 1 SB 5862
percent multiplied by the beneficiaries' monthly benefit, not to 1
exceed $110.00. 2
(4) Beneficiaries who are receiving a monthly benefit from the 3
teachers' retirement system plan 1 on July 1, 2022, shall receive, 4
effective July 1, 2023, an increase to their monthly benefit of three 5
percent multiplied by the beneficiaries' monthly benefit, not to 6
exceed $110.00. 7
(5) Beneficiaries who are receiving a monthly benefit from the 8
teachers' retirement system plan 1 on July 1, 2023, shall receive, 9
effective July 1, 2024, an increase to their monthly benefit of three 10
percent multiplied by the beneficiaries' monthly benefit, not to 11
exceed $110.00. 12
(6) Beneficiaries who are receiving a monthly benefit from the 13
teachers' retirement system plan 1 on July 1, 2025, shall receive, 14
effective July 1, 2026, an increase to their monthly benefit of three 15
percent multiplied by the beneficiaries' monthly benefit.16
(7) This section does not apply to those receiving benefits 17
pursuant to RCW 41.32.489 or 41.32.540. 18
Sec. 2. RCW 41.40.1987 and 2024 c 255 s 2 are each amended to 19
read as follows: 20
(1) Beneficiaries who are receiving a monthly benefit from the 21
public employees' retirement system plan 1 on July 1, 2017, shall 22
receive, effective July 1, 2018, an increase to their monthly benefit 23
of one and one-half percent multiplied by the beneficiaries' monthly 24
benefit, not to exceed $62.50. 25
(2) Beneficiaries who are receiving a monthly benefit from the 26
public employees' retirement system plan 1 on July 1, 2019, shall 27
receive, effective July 1, 2020, an increase to their monthly benefit 28
of three percent multiplied by the beneficiaries' monthly benefit, 29
not to exceed $62.50. 30
(3) Beneficiaries who are receiving a monthly benefit from the 31
public employees' retirement system plan 1 on July 1, 2021, shall 32
receive, effective July 1, 2022, an increase to their monthly benefit 33
of three percent multiplied by the beneficiaries' monthly benefit, 34
not to exceed $110.00. 35
(4) Beneficiaries who are receiving a monthly benefit from the 36
public employees' retirement system plan 1 on July 1, 2022, shall 37
receive, effective July 1, 2023, an increase to their monthly benefit 38
p. 2 SB 5862
of three percent multiplied by the beneficiaries' monthly benefit, 1
not to exceed $110.00. 2
(5) Beneficiaries who are receiving a monthly benefit from the 3
public employees' retirement system plan 1 on July 1, 2023, shall 4
receive, effective July 1, 2024, an increase to their monthly benefit 5
of three percent multiplied by the beneficiaries' monthly benefit, 6
not to exceed $110.00. 7
(6) Beneficiaries who are receiving a monthly benefit from the 8
public employees' retirement system plan 1 on July 1, 2025, shall 9
receive, effective July 1, 2026, an increase to their monthly benefit 10
of three percent multiplied by the beneficiaries' monthly benefit.11
(7) This section does not apply to those receiving benefits 12
pursuant to RCW 41.40.1984. 13
NEW SECTION. Sec. 3. This act takes effect July 1, 2026.14
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p. 3 SB 5862