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Agency 124
Department of Retirement
Systems
RCW 41.50
Request | $37,148,094 | ||||||||||||||||||
Net change from current biennium | $2,317,891 | Increase | |||||||||||||||||
Percent change from current biennium | 6.7% | Increase | |||||||||||||||||
The Department of Retirement Systems is responsible for the general
administration of the Public Employees' Retirement System (PERS),
the Teachers' Retirement System (TRS), the Law Enforcement Officers'
and Fire Fighters' Retirement System (LEOFF), the Washington State
Patrol Retirement System, the Judicial Retirement System, and
the Judges' Retirement Fund. The Department is also responsible
for the administration of the Deferred Compensation and Dependent
Care Assistance programs and for investing the monies of the Judicial
Retirement Account. Activities include membership services, benefit
administration services, retirement counseling, retirement information
services, trust fund benefit administration, accounting and financial
services, and human resource and retirement policy administration
services. The Department also manages a program that allows state
employees to defer a portion of their earnings until retirement
or termination of state employment and to allow eligible employees
to set aside a before-tax portion of their compensation for reimbursement
of their dependent care expenses.
The goal of the Department is to administer the retirement trusts,
deferred compensation program, and dependent care salary reduction
program consistent with the highest standard of fiduciary responsibility,
while providing responsive, high-quality service.
Operating Budget: Summary
| |||||||||||||||||||||
1995-97 Appropriations | Appropriated Funds | Expenditures | |||||||||||||||||||
Amount | Estimated Balance | 1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | |||||||||||||||||
356,374 | 1,285 | Dependent Care Administrative Acct - State | 333,342 | 355,089 | 357,087 | ||||||||||||||||
31,658,018 | 116,930 | Dept of Retirement Systems Expense - State | 31,520,106 | 31,541,088 | 33,830,215 | ||||||||||||||||
32,014,392 |
118,215 | Total Appropriated Funds |
31,853,448 |
31,896,177 |
34,187,302 | ||||||||||||||||
Non-Appropriated Funds | |||||||||||||||||||||
Deferred Compensation Admin Account - Non-Appropriated | 2,501,323 | 2,934,026 | 2,960,792 | ||||||||||||||||||
Total All Funds |
34,354,771 |
34,830,203 |
37,148,094 | ||||||||||||||||||
Operating Budget: Summary by Object
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries And Wages | 8,563,746 | 8,595,389 | 8,602,086 | 8,568,424 | 8,348,110 | |||||||||||||
Employee Benefits | 2,373,748 | 2,344,004 | 2,308,712 | 2,267,343 | 2,196,961 | |||||||||||||
Personal Service Contracts | 104,025 | 71,125 | 657,446 | 877,226 | 329,176 | |||||||||||||
Goods And Services | 6,031,795 | 6,036,734 | 5,807,186 | 6,043,540 | 6,376,526 | |||||||||||||
Travel | 54,275 | 57,568 | 102,750 | 107,504 | 74,004 | |||||||||||||
Capital Outlays | 643,320 | 157,858 | 361,019 | 795,695 | 1,455,794 | |||||||||||||
Grants, Benefits & Client Services | 200 | |||||||||||||||||
Debt Service | 180,344 | 49,999 | 25,000 | 25,000 | ||||||||||||||
Interagency Reimbursements | (213,670) | (161,274) | (160,399) | (171,104) | (171,105) | |||||||||||||
Intra-Agency Reimbursements | 4 | |||||||||||||||||
Annual Total |
17,737,787 |
17,151,403 |
17,678,800 |
18,513,628 |
18,634,466 | |||||||||||||
Operating Budget: Program Summary
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Administration | 4,667,887 | 4,980,915 | 6,294,536 | 6,593,528 | 5,362,769 | |||||||||||||
Retirement Operations | 4,320,633 | 3,876,710 | 3,614,284 | 3,265,181 | 3,212,127 | |||||||||||||
Information Services | 7,248,238 | 6,649,768 | 6,124,875 | 7,026,481 | 8,370,129 | |||||||||||||
Deferred Compensation | 1,338,985 | 1,460,478 | 1,473,548 | 1,458,395 | 1,502,397 | |||||||||||||
Dependent Care | 162,044 | 183,532 | 171,557 | 170,043 | 187,044 | |||||||||||||
Annual Total |
17,737,787 |
17,151,403 |
17,678,800 |
18,513,628 |
18,634,466 | |||||||||||||
Fiscal Year 1993-94 | 16,616,984 | |||||||||||||||||
Biennium Total |
34,354,771 |
34,830,203 |
37,148,094 | |||||||||||||||
Operating Budget: Change from Preceding Biennium
| ||||||||||||||||||||||||||
1993-95 Actual | 1995-97 Estimated | 1997-99 Proposed | ||||||||||||||||||||||||
Amount | Percent | Amount | Percent | Amount | Percent | |||||||||||||||||||||
Administration | 4,073,202 | 82.5% | 2,263,480 | 25.1% | 680,846 | 6.0% | ||||||||||||||||||||
Retirement Operations | (2,043,840) | (18.8)% | (1,350,314) | (15.3)% | (1,013,686) | (13.5)% | ||||||||||||||||||||
Information Services | (200,944) | (1.4)% | (892,184) | (6.5)% | 2,621,967 | 20.5% | ||||||||||||||||||||
Deferred Compensation | 349,532 | 16.2% | 432,703 | 17.3% | 26,766 | 0.9% | ||||||||||||||||||||
Dependent Care | (10,022) | (2.9)% | 21,747 | 6.5% | 1,998 | 0.6% | ||||||||||||||||||||
Belated Claims | (3,302) | (100.0)% | ||||||||||||||||||||||||
Total |
2,164,626 |
6.7% |
475,432 |
1.4% |
2,317,891 |
6.7% | ||||||||||||||||||||
Employment Summary
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 264.8 | 250.8 | 242.1 | 243.5 | 234.2 | |||||||||||||||
Average FTE Staff Year Costs | 32,340 | 34,272 | 35,531 | 35,189 | 35,645 | |||||||||||||||
Agency Local Funds | |||
Public Employees' Retirement System Plan I Account | |||
This fund is composed of all Plan 1 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for the assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Public Employees' Retirement System Plan 1 members. | |||
Public Employees' Retirement System Plan II Account | |||
This fund is composed of all Plan 2 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for the assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Public Employees' Retirement System Plan 2 members. | |||
Teachers' Retirement System Plan I Account | |||
This fund is composed of all Plan 1 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for the assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Teachers' Retirement System Plan 1 members. | |||
Teachers' Retirement System Plan II Account | |||
This fund is composed of all Plan 2 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for the assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Teachers' Retirement System Plan 2 members. | |||
Washington Law Enforcement Officers' and Fire Fighters' | |||
(LEOFF) System Plan I Retirement Account
This fund is composed of all Plan 1 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the LEOFF Retirement System Plan 1 members. | |||
Washington Law Enforcement Officers' and Fire Fighters' | |||
(LEOFF) System Plan II Retirement Account
This fund is composed of all Plan 2 monies received from investment earnings, member contributions, and employer contributions. The fund accounts for assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the LEOFF Retirement System Plan 2 members. | |||
Washington State Patrol Retirement Account | |||
This fund is composed of all monies received from investment earnings, member contributions, and employer contributions. The fund accounts for the assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the State Patrol Retirement System. | |||
Judges' Retirement Account | |||
This fund is composed of all monies appropriated from the state General Fund, investment earnings, member contributions, and employer contributions. The fund accounts for assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Judges' Retirement Fund. | |||
Washington Judicial Retirement Account | |||
This fund is composed of all monies appropriated from the state General Fund, investment earnings, member contributions, and employer contributions. The fund accounts for assets, income, payment of benefits, including pension and refund payments, and adjustments associated with the Judicial Retirement System. | |||
Statement of Local Fund Balances
| |||||||||||||||
6/30/95 Fund Balance | 6/30/97 Estimated Fund Balance | 1997-1999 Estimated Revenues | 1997-1999 Estimated Expenditures | 6/30/99 Estimated Fund Balance | |||||||||||
Non-Budgeted Funds | |||||||||||||||
Public Employees' Retirement System Plan I Account | 6,289,920,060 | 7,747,282,277 | 2,602,476,534 | 1,140,001,566 | 9,209,757,245 | ||||||||||
Public Employees' Retirement System Plan II Account | 4,874,645,128 | 7,071,162,986 | 2,656,669,850 | 161,047,052 | 9,566,785,784 | ||||||||||
Teachers' Retirement System Plan I Account | 5,449,809,733 | 6,774,013,609 | 2,266,623,784 | 978,207,304 | 8,062,430,089 | ||||||||||
Teachers' Retirement System Plan II Account | 1,808,214,349 | 2,689,685,154 | 1,048,130,462 | 21,108,495 | 3,716,707,121 | ||||||||||
LEOFF System Plan I Retiement Account | 3,112,599,913 | 3,831,521,203 | 1,095,525,506 | 414,093,037 | 4,512,953,672 | ||||||||||
LEOFF System Plan II Retiement Account | 854,300,874 | 1,264,278,962 | 425,203,591 | 8,135,292 | 1,681,347,261 | ||||||||||
Washington State Patrol Retirement Account | 368,582,577 | 448,559,150 | 112,152,510 | 37,379,315 | 523,332,345 | ||||||||||
Judges' Retirement Account | 2,555,839 | 3,470,666 | 1,107,214 | 908,062 | 3,669,818 | ||||||||||
Judicial Retirement Account | 2,230,490 | 4,086,034 | 14,958,776 | 15,405,173 | 3,279,637 | ||||||||||
Total Non-Budgeted Funds |
22,762,858,963 |
29,834,060,041 |
10,222,848,227 |
2,776,285,296 |
37,280,262,972 | ||||||||||
Program Level Detail
The purpose of the Administration program is to perform administrative
accounting services, trust fund accounting services, budgeting
services, revenue collection, payment of pensions and withdrawals,
office services, word processing services, records management,
and personnel services.
The objective is to adhere to established accounting, operating, budgetary, and personnel practices in support of the agency and the retirement systems' members.
Program Employment
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 67.1 | 71.2 | 75.2 | 78.6 | 70.7 | |||||||||||||||
Average FTE Staff Year Costs | 32,661 | 33,696 | 33,123 | 33,561 | 34,701 | |||||||||||||||
Expenditure Detail
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries and Benefits | 2,788,949 | 3,055,427 | 3,170,697 | 3,346,427 | 3,102,395 | |||||||||||||
Other Operating Costs | 1,878,938 | 1,925,488 | 3,123,839 | 3,247,101 | 2,260,374 | |||||||||||||
Annual Total |
4,667,887 |
4,980,915 |
6,294,536 |
6,593,528 |
5,362,769 | |||||||||||||
Fiscal Year 1993-94 | 4,344,084 | |||||||||||||||||
Biennium Total |
9,011,971 |
11,275,451 |
11,956,297 | |||||||||||||||
Source of Funds - Dept of Retirement Systems Expense - State | |||||||||||||||||||
The purpose of the Retirement Operations program is to establish
and maintain member accounts for six retirement systems, calculate
pension and withdrawal benefits, provide retirement benefit counseling
services, publish retirement plan information, present pre-retirement
seminars, and provide policy development and project management
services.
The objective is to provide members with reliable, accurate, and timely benefits and information.
Program Employment
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 112.1 | 96.1 | 81.1 | 78.2 | 76.8 | |||||||||||||||
Average FTE Staff Year Costs | 29,121 | 31,660 | 35,041 | 33,453 | 33,589 | |||||||||||||||
Expenditure Detail
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries and Benefits | 4,211,864 | 3,900,333 | 3,633,991 | 3,336,034 | 3,290,000 | |||||||||||||
Grants and Subsidies | 200 | |||||||||||||||||
Other Operating Costs | 108,569 | (23,623) | (19,707) | (70,853) | (77,873) | |||||||||||||
Annual Total |
4,320,633 |
3,876,710 |
3,614,284 |
3,265,181 |
3,212,127 | |||||||||||||
Fiscal Year 1993-94 | 4,520,675 | |||||||||||||||||
Biennium Total |
8,841,308 |
7,490,994 |
6,477,308 | |||||||||||||||
Source of Funds - Dept of Retirement Systems Expense - State | |||||||||||||||||||
The purpose of the Information Services program is to design,
develop, and implement information systems; enhance existing information
systems; provide training and consulting to employers who report
member earnings information to the Department; perform in a liaison
capacity between the Department and service organizations that
build and maintain payroll systems for employers; design, develop,
implement, and monitor data bases that support agency information
systems; implement and maintain application and data base levels
of security; acquire, install, and operate the agency's network
environment consisting of desktop hardware and software and the
local and wide area networks; install and operate telephone systems
in a multi-vendor environment; collect, enter, and process active
member earnings submitted by employers; provide Help Desk support
for network and mainframe-based information systems; develop and
maintain the agency's Strategic and Tactical Information Technology
plans and the Security Plan; and conduct and publish feasibility
studies for proposed systems development projects.
The objective is to build and maintain information systems that collect, process, and maintain member information efficiently and accurately in support of services delivered to active and retired members.
Program Employment
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 67.3 | 64.0 | 65.5 | 66.3 | 66.3 | |||||||||||||||
Average FTE Staff Year Costs | 37,507 | 39,057 | 39,647 | 39,988 | 39,813 | |||||||||||||||
Expenditure Detail
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries and Benefits | 3,189,014 | 3,153,455 | 3,252,759 | 3,311,078 | 3,296,559 | |||||||||||||
Other Operating Costs | 4,059,224 | 3,496,313 | 2,872,116 | 3,715,403 | 5,073,570 | |||||||||||||
Annual Total |
7,248,238 |
6,649,768 |
6,124,875 |
7,026,481 |
8,370,129 | |||||||||||||
Fiscal Year 1993-94 | 6,418,589 | |||||||||||||||||
Biennium Total |
13,666,827 |
12,774,643 |
15,396,610 | |||||||||||||||
Source of Funds - Dept of Retirement Systems Expense - State | |||||||||||||||||||
The purpose of the Deferred Compensation program is to enable
eligible employees to defer a portion of their earnings until
retirement or termination of employment.
Objectives are to: maintain and enhance the program; improve services to participants; increase employee awareness of the program; and obtain maximum return on investments for participants consistent with risk levels appropriate for each type of investment.
Program Employment
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 17.0 | 17.2 | 17.8 | 17.9 | 17.9 | |||||||||||||||
Average FTE Staff Year Costs | 30,514 | 33,785 | 33,511 | 32,854 | 33,407 | |||||||||||||||
Expenditure Detail
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries and Benefits | 662,980 | 737,022 | 756,413 | 746,318 | 757,548 | |||||||||||||
Other Operating Costs | 676,005 | 723,456 | 717,135 | 712,077 | 744,849 | |||||||||||||
Annual Total |
1,338,985 |
1,460,478 |
1,473,548 |
1,458,395 |
1,502,397 | |||||||||||||
Fiscal Year 1993-94 | 1,162,338 | |||||||||||||||||
Biennium Total |
2,501,323 |
2,934,026 |
2,960,792 | |||||||||||||||
Source of Funds - Deferred Compensation Admin Account - Non-Appr | |||||||||||||||||||
The purpose of the Dependent Care program is to enable eligible
employees to set aside a before-tax portion of their earnings
for reimbursement of their dependent care expenses.
The objective is to maintain service quality while controlling or reducing costs.
Program Employment
| ||||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||||
FTE Staff Years | 1.3 | 2.3 | 2.5 | 2.5 | 2.5 | |||||||||||||||
Average FTE Staff Year Costs | 49,797 | 31,726 | 30,422 | 30,075 | 31,005 | |||||||||||||||
Expenditure Detail
| ||||||||||||||||||
1994-95 Actual | 1995-96 Estimated | 1996-97 Estimated | 1997-98 Proposed | 1998-99 Proposed | ||||||||||||||
Salaries and Benefits | 84,687 | 93,156 | 96,938 | 95,910 | 98,569 | |||||||||||||
Other Operating Costs | 77,357 | 90,376 | 74,619 | 74,133 | 88,475 | |||||||||||||
Annual Total |
162,044 |
183,532 |
171,557 |
170,043 |
187,044 | |||||||||||||
Fiscal Year 1993-94 | 171,298 | |||||||||||||||||
Biennium Total |
333,342 |
355,089 |
357,087 | |||||||||||||||
Source of Funds - Dependent Care Administrative Acct - State | |||||||||||||||||||