Posted on 05/06/2026 12:06:06 PM PDT by ransomnote
Shane Kidwell
@shanerkidwell
·
5h
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.
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Communists are running out of other people’s money.
I believe that every statewide election in Washington has been rigged since the Democrats outright stole the gubernatorial election in 2004.
I guarantee that while Washington may be the first state to do this, it won’t be the last.
Your government hates you.
There are a lot of trees in Washington state. Is there enough rope?
Isn’t that against the law?
Who can he ask for assistance in reversing this theft, the DOJ?
And not a bit surprising that they did it to police/fire, as those folks are more likely to be Republican, or at least law and order types who won’t destroy the Republic.
As far as teacher’s union pensions, the commies will burn the state down first before they give those up.
If the legislators that terminated a paid for plan suddenly disappear, I guarantee that no jury will convict those who terminated them. Consider it, Washington voters. After all, you voted these slimeballs in, so do justice by releasing the terminators. Not even close to kidding. (Coming soon to other DemocRAT run third world states who are way underfinanced on their retirement promises.)
Liberals are pure unadulterated gutless scum.
The precedent was set when they started tapping the Social Security fund. That was promised never to be touched for general spending when it started in 1935. Then, in 1969, they couldn’t resist spending that pool of money. As it is now, given what I contributed and what my employer matched and a 5% growth rate, I’ll break even if I live to be 132 years old. I think I’m screwed.
The state stopped pension payments, and terminated the plan for those still working? Why is this not a breach of contract?
State politicians get a pay raise?
I wonder what the details are. Many public employee pension plans require mandatory employee contributions, a set percentage of your salary.
If that’s the case here, what happened to the employee contributions? It’s hard to believe that the state just took it.
Oh, wait. It’s “progressive” Washington state. Maybe that’s not so hard to believe after all.
NYChitty announced a while ago they are looking to delay payments to or possibly raid public pension plans to fund ayatollah mamdani’s socialist plans...i think its great- this is what they voted for!!!
https://marypatcampbell.substack.com/p/new-york-city-pension-watch-hey-what
Just as long as the judges who will handle these cases get their full pay pensions.
You would think it’s a breach of contract, at minimum. A “high crime” of theft from the higher levels as well imho.
Government “job security” has always been attractive, along with pensions, they’re going to torpedo the prospect of anyone signing up.
They will get what they’re asking for. What does this also say for those still in uniform?
Fools.
I live in Washington state and LEOFF 1 retirement eligibility ended in October 1977, which means you had to be hired before that date but could retire at 50 with 5 years of service.
The ever reducing number of retirees will never burn through $4.3 billion, but what the state did was wrong. So what was the state’s plan to do with all that cash? I assume they would sweep it, like they do when a retiree dies without a designated survivor.
And not a bit surprising that they did it to police/fire,
= = =
Isn’t there some teacher’s pension plan?
I’ll bet is bigger than the cop/fire.
-PJ
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