What kind of retirement plan is in place for Washington State Employees?

Answer by  vcurriearmierihotmailcom (40)

Benefit plans that provide full pension benefits based on years of service – members are eligible after 30 years of employment. Plans that provide full pension benefits after a member reaches age 65. Plans that provide full pension benefits based on the member's age at retirement. Member-funded defined contribution component. Full pension benefits provided after the member reaches age 65.

Answer by  KathySJ (102)

Public Employees in Washington State have 3 different retirement systems. Basically, Plan 1, for this classification of employees, is a Defined Benefit 401 (a) plan administered by the Department of Retirement Systems. This plan is for members whose membership was established before Oct. 1, 1977. This plan is funded by contributions made by both the member and the employer.

Answer by  abadams (4)

I have no idea what kind of retirement plan is in place for Washington State Employees. I'm sure that most people have IRA'S or some sort of 401K plan that they can use . People should already be saving for their retirement while they're working now.

Answer by  dave81 (6)

The retirement plan requires that you be at least sixty five years old, have been working for the state of Washington for at least thirty years. It also requires that you remained in good standing with the state throughout working for them and have no blemishes on your record. This should be about it.