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State Sued over Plan to Raid Police and Firefighter Pension Fund
The suit says the transfer would sweep nearly $4 billion from LEOFF 1 and could leave the fund vulnerable to market downturns.
- On Thursday, retired police officers and firefighters, including former Congressman Dave Reichert, filed a federal class-action lawsuit to block a new state law sweeping nearly $4 billion from the Law Enforcement Officers and Firefighters System Plan 1, or LEOFF 1.
- Gov. Bob Ferguson signed the legislation this month to transfer funds from the overfunded LEOFF 1 account, aiming to help close an estimated $2 billion state budget deficit.
- Plaintiffs argue the transfer violates state and U.S. constitutional contract clauses, and reducing the fund to 110% of benefits leaves pensions vulnerable to market downturns, which attorney Steve Berman of Hagens Berman called a "gross miscarriage of justice."
- Rep. Timm Ormsby, the bill's sponsor, said the law does not "run afoul of any court precedent," while a spokesperson for the state attorney general said the office is reviewing the lawsuit.
- The law takes effect June 11, allowing beneficiaries to file state court lawsuits until Dec. 31, 2027, with claims "subject to direct review" by the state Supreme Court.
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27 Articles
27 Articles
The Center Square+3 Reposted by 3 other sources
Retired WA cops, firefighters sue to protect pension fund
(The Center Square) - Retired police officers and firefighters in Washington are suing the state, trying to block an attempt to access their pension fund that the legislature wants to
·United States
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Renton Reporter+11 Reposted by 11 other sources
Lawsuit filed over WA police and firefighter pension fund
Retired police officers and firefighters in Washington, including former Congressman Dave Reichert, sued the state April 30 to block an attempt to raid their pension fund to help with ongoing budget shortfalls.
State sued over plan to raid police and firefighter pension fund
Retired police officers and firefighters in Washington, including former Congressman Dave Reichert, sued the state Thursday to block an attempt to raid their pension fund to help with ongoing budget s
·Vancouver, United States
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Coverage Details
Total News Sources27
Leaning Left2Leaning Right1Center15Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
11%
C 83%
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