Washington’s Recurring Pension Hikes Raise $2.4B for Retirees

SSB 5862 gives another 3% pension boost to Plan 1 retirees, adding $338 million in new employer costs and pushing unfunded liabilities higher. Ryan Frost details how six COLAs since 2018 have increased taxpayer burden as lawmakers delay debt payments. https://clarkcountytoday.com/opinion/opinion-the-legislature-has-committed-2-4-billion-to-recurring-pension-increases-since-2018/ #Washington #Pension #PublicEmployees #COLA #Legislature #Budget #TaxPolicy #Opinion #UnfundedLiability