Pension Discount Rate (PDR) 2024
Public Hearing on Proposed Rules
Wednesday, November 29, 2023
To join on your computer or mobile app (Zoom):
Meeting ID: 936 165 5337
To join by phone (audio only):
253-215-8782 US (Tacoma)
Find your local number: https://lni-wa-gov.zoom.us/u/kdFrdfe0fg
The hearing will start at 10:00 a.m. and continue until all oral comments are received.
L&I encourages the submittal of written comments, due by 5:00 p.m. on November 29, 2023.
The purpose of this rulemaking is to amend WAC 296-14-8810 Pension tables, pension discount rate and mortality tables, by lowering 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 money when evaluating the present value of future pension payments. This rule proposes to lower the PDR for self-insured employers from 5.6% to 5.5% effective April 1, 2024. These reductions allow our financial statements to more accurately reflect our liabilities and overall financial position, and are consistent with recommendations from our annual independent actuarial review of our rate making.