The Washington Legislature's Joint Committee on Pension Policy...

The Washington Legislature's Joint Committee on Pension Policy yesterday began negotiations with union officials in hopes of converting to a defined contribution plan for public employees from a defined benefit arrangement. No other details were available at press time. Earlier, a defined contribution plan had been established for Washington state teachers hired after July 1 and for any current teachers who want to switch from the $1.5 billion teachers' defined benefit plan. A new Employee Benefits Retirement Board has been appointed that will decide on five to six investment options soon.