LEOFF Plan 2 Retirement Board Benefit Improvement Pricing Update



The LEOFF 2 Board discussed the recently funded (2019 legislative session - $340M) benefit improvement account (BIA). Recall the intent/idea of the BIA was to establish a place/fund where money (state dollars really) could be placed to buy future benefit enhancements that would avoid a rate increase to fund. At the previous LEOFF 2 Board meeting, the Board asked staff to develop certain benefit improvement cost scenarios. Information regarding the BIA is at the following link https://leoff.wa.gov. Click on the member services tab, then the BIA Information Center tab. The goals of the BIA website are to:

▪ Easily Accessible Information on LEOFF Website

▪ Consolidation of Information

▪ Provide Benefit Improvement Account Balance

▪ Provide cost of Potential Improvements

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