The bill amends existing laws regarding the appointment, removal, and salary of the state actuary in Washington. It modifies RCW 41.04.281 to shift the responsibilities of the select committee on pension policy, allowing them to make recommendations to the pension funding council regarding the state actuary's appointment, removal, and salary, rather than consulting with the chair and vice chair on appointing members to the state actuary appointment committee. Additionally, a new section is added to chapter 41.45 RCW, establishing that the pension funding council will have the authority to appoint, remove, and set the salary of the state actuary, requiring an affirmative vote from four council members.

Furthermore, the bill amends RCW 44.44.030 to clarify that the state actuary can select and employ necessary personnel, with their salaries approved by the pension funding council instead of the previously mentioned state actuary appointment committee. The bill also repeals RCW 44.44.013, which previously established the state actuary appointment committee, thereby streamlining the process and consolidating authority within the pension funding council. Overall, these changes aim to enhance the governance and oversight of the state actuary's role in managing pension policies and financial conditions.

Statutes affected:
Original Bill: 41.04.281, 44.44.030, 44.44.013
Substitute Bill: 41.04.281, 44.44.030, 44.44.013