The department shall not expose the state of Washington as an employer or through administration of the marketplace to any potential liability under the federal employee retirement income [security] act of 1974. As such, the department is specifically prohibited from offering and operating a state-based retirement plan for businesses or individuals who are not employed by the state of Washington.
RCW 43.330.742
Federal employment retirement income act liability—Prohibition on state-based retirement plan for nonstate employees.
2015 c 296 s 6.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.