Washington State Law Enforcement Officers'
and Fire Fighters' Plan 2 Retirement Board
You are a member of the Washington State Law Enforcement Officers' and
Fire Fighters' (LEOFF) Plan 2 retirement plan if you were hired on or after
October 1, 1977 and are a full-time, fully compensated law enforcement officer
or fire fighter.
For specific information about the LEOFF 2 retirement plan, please see the
LEOFF Plan 2 Member Handbook produced by the Washington State
Department of Retirement Systems.
What's New?
- New Contribution Rates Adopted by LEOFF 2 Board in Effect September 1, 2009
(see table below for new rates)
- LEOFF Plan 2 Retirees Receive 3% Cost of Living Adjustment Effective July 1, 2009
(retirees eligible for COLA must have retired prior to July 2, 2008)
LEOFF Plan 2 Statistics
As of June 30, 2007
Active Members
16,099
Retirees and Beneficiaries
924
Funding Status *
100%
As of September 1, 2009*
Contribution Rates
Member
8.46%
Employer * *
5.24%
State
3.38%
As of March 31, 2009
Market Value of Investment Assets
$3.9 Billion
* LEOFF Plan 2 is funded using the Aggregate Cost Method and is 100% funded.
The funding policies and contribution rates were adopted by the LEOFF 2 Board
and will ensure that LEOFF Plan 2 will remain 100% funded.
For reporting purposes, the Government Accounting Standards Board (GASB) requires
plans to report funding status based on an actuarial value basis using the Credited Projected
Liability actuarial reporting method. When using this method to report funding status,
LEOFF Plan 2 is funded at 129%.
** The employer rate shown above does include the Department of Retirement Systems' (DRS)
administrative expense charge, currently .16%.
The employer contribution rate for Ports and Universities is 8.99%, and does include the
DRS administrative expense charge, currently .16%.
Sources: The Office of the State Actuary's 2007 LEOFF 2 Actuarial Valuation Report and the