Notice of Introduction for Engrossed Substitute Senate Bill 6069 - Update: 10 Year Analysis Complete

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UPDATE: The 10 year analysis for ESSB 6069, titled AN ACT Relating to improving retirement security for Washingtonians by establishing Washington saves, an automatic enrollment individual retirement savings account program, and updating the Washington retirement marketplace statute, has been completed. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Department of Labor and Industries:

The proposed bill requires civil penalties received by L&I to be deposited in the Supplemental Pension Fund, fund 881. L&I does not have data to determine how many civil penalties will be assessed. The cash receipts are indeterminate.

Office of State Treasurer:

Projected fee collections is currently unavailable, therefore the cash receipt impact is indeterminate.

Ten-year projection prepared in consultation with the following agencies:

Office of State Treasurer
Department of Labor and Industries

This engrossed bill is proposed by the Senate.

The substitute bill was proposed by:

Senate Committee on Ways & Means
(360) 786-7715



The original bill sponsors and contact information are:

Senator Mark Mullet, Prime Sponsor
Democrat
(360) 786-7608
mark.mullet@leg.wa.gov

Senator Javier Valdez
Democrat
(360) 786-7690
javier.valdez@leg.wa.gov

Senator Sam Hunt
Democrat
(360) 786-7642
Sam.Hunt@leg.wa.gov

Senator Marko Liias
Democrat
(360) 786-7640
marko.liias@leg.wa.gov

Senator Joe Nguyen
Democrat
(360) 786-7667
joe.nguyen@leg.wa.gov

Senator Rebecca Saldaña
Democrat
(360) 786-7688
rebecca.saldana@leg.wa.gov

Senator Kevin Van De Wege
Democrat
(360) 786-7646
kevin.vandewege@leg.wa.gov




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp