Washington just became the first state in U.S. history to terminate a public employee pension plan.
— Shane Kidwell (@shanerkidwell) May 6, 2026
The plan belongs to retired police officers and firefighters. LEOFF Plan 1 was 160% funded as of June 2024 per the state's own actuarial valuation. It had not required a single… pic.twitter.com/6TiBBIYgtf
Washington just became the first state in U.S. history to terminate a public employee pension plan.
The plan belongs to retired police officers and firefighters. LEOFF Plan 1 was 160% funded as of June 2024 per the state's own actuarial valuation. It had not required a single contribution in 25 years. By 2029 it was projected to reach 200% funded with a $4.3 billion surplus.
The legislature terminated the plan, swept $3.9 billion, and is using $880 million of it to refill a rainy day fund it already drained to cover a deficit it created.
Days ago, retired first responders including former Congressman Dave Reichert sued the state to stop it. The bill passed the House 55-39 and was advanced out of Appropriations without a public hearing. Every yes vote was a Democrat. The governor signed it in April.
I publish the full research and sourced breakdowns on Substack every week. Search Shane Kidwell if you want the deeper dive.
I sacrificed my body and a good chunk of my life for our state, they committed to providing a benefit for me and raided it.
Replies