This bill amends existing laws regarding the appointment, removal, and salary of the state actuary in Washington. It modifies RCW 41.04.281 to enhance the responsibilities of the select committee on pension policy, which will now include receiving results from actuarial audits and making recommendations on changes to pension assumptions or contribution rates. 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, with decisions requiring an affirmative vote from four council members and consideration of recommendations from the executive committee of the select committee on pension policy.

Furthermore, the bill amends RCW 44.44.030 to clarify the authority of the state actuary in selecting personnel and consultants, with their salaries approved by the pension funding council instead of the previously existing state actuary appointment committee, which is repealed under the new provisions. The bill aims to streamline the process of managing the state actuary's role and ensure that the pension funding council has a more direct influence on the appointment and oversight of the state actuary's functions.

Statutes affected:
Original Bill: 41.04.281, 44.44.030, 44.44.013
Substitute Bill: 41.04.281, 44.44.030, 44.44.013
Bill as Passed Legislature: 41.04.281, 44.44.030, 44.44.013
Session Law: 41.04.281, 44.44.030, 44.44.013