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?
- Next Board Meeting - September 24, 2008
LEOFF Plan 2 Statistics
As of September 30, 2006
Active Members
15,718
Retirees and Beneficiaries
779
Funding Status *
100%
As of July 1, 2008
Contribution Rates
Member
8.83%
Employer * *
5.46%
State
3.53%
As of March 31, 2008
Market Value of Investment Assets
$5.3 Billion
* LEOFF Plan 2 is funded using the Aggregate Cost Method and is 100% funded. The
funding policies and contribution rates adopted by the LEOFF 2 Board 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 116%.
** 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 2006 LEOFF 2 Actuarial Valuation Report and the