Thousands of Washington retirees with small pension benefits will soon have the option to get their money faster under a bill signed this week aimed at easing t
Thousands of Washington retirees with small pension benefits will soon have the option to get their money faster under a bill signed this week aimed at easing the state’s affordability crunch. On Monday, Gov.
Ferguson signed House Bill 2124, sponsored by Rep. Travis Couture, R-Allyn, to update how small pension distributions are paid through the state’s retirement system. Under current law, the Department of Retirement Systems can offer a one-time lump-sum payout only if a retiree’s monthly benefit is $50 or less. HB 2124 raises that threshold to $250, allowing more retirees to choose a single payment instead of receiving small monthly checks over time. “Washington has become one of the most expensive states in the nation, and our retirees are feeling the squeeze every time they go to the grocery store or the gas station,” Couture said. “Forcing a senior to wait 20 years to collect a small pension in $60 increments makes no sense in this economy. This bill is a common-sense fix that cuts the red tape and puts a more meaningful amount of money into retirees’ pockets right now when they need it most.”Supporters say the change will give retirees more flexibility to use the money for immediate needs. They also say it will reduce administrative costs for the state by limiting the need to process and mail small checks for years.“Home Improvement” star Zachery Ty Bryan will be serving another 19 months in prison in Oregon after admitting to three probation violations.Investigators in Iowa believe they may have found the person responsible for the 2011 slaying of realtor Ashley Okland.Police believe the dog had been outside for more than 24 hours, exposed to the elements.The 2023 shooting death of a pregnant woman on her way to work in Seattle’s Belltown neighborhood is again drawing attention to Washington’s “born alive” rule aGov. Bob Ferguson has yet to sign or veto the so-called millionaires tax that passed the legislature on March 11.
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