The Department of Labor & Industries (L&I) updated its rulemaking website
Semi-Annual Rules Development Agenda and Rule filed January 31, 2023
For information on all L&I meetings and public hearings related to rulemaking, please visit our?public participation calendar.
Semi-Annual Rules Development Agenda
The Department of Labor & Industries filed a Semi-Annual Rules Development Agenda for January 1 through June 30, 2023, in accordance with RCW 34.05.314.?
Semi-Annual Rules Development Agenda
Division:?Division: Insurance Services (Legal Services)
Topic:?Adoption (CR-103) ? Pension Discount Rate (PDR) 2023
Brief Description:?The purpose of this rulemaking is to lower the pension discount rate (PDR) to better align with the rate of return for long term treasuries for self-insured pensions. The PDR is the interest rate used to account for the time value of money when evaluating the present value of future pension payments. This rule lowers the PDR for self-insured employers from 5.7% to 5.6%.
Effective date: April 1, 2023
The links below provide additional information about this rulemaking:
CR-103 Adoption
Adoption Language
Concise Explanatory Statement (CES)
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