Pridemore appointed as chair of legislative pension committee

OLYMPIA – It’s a thorny issue affecting thousands of Washington’s state workers: how to catch up on payments to the state’s pension system.

Sen. Craig Pridemore, D-Vancouver, will take a turn tackling pensions. Pridemore was appointed 2006 chair of the legislative Select Committee on Pension Policy (SCPP) during its monthly meeting today in Olympia.

The committee considers issues affecting the state’s public employee retirement systems, and makes recommendations to the Legislature.

Pridemore is the third legislator from the 49th Legislative District to serve as SCPP chair in recent years. Rep. Bill Fromhold, D-Vancouver, chaired the committee in 2005, and former Sen. Don Carlson, R-Vancouver, was chair in 2002.

“I don’t know what it is that makes Clark County lawmakers so qualified for this chairmanship, but I’m very pleased to be chosen to serve in this capacity,” Pridemore said. “We have a constitutional obligation to fund these pensions. I’m ready to help lead the process to get us caught up on our payments and help ensure fiscal responsibility for taxpayers and state employees.”

SCPP members include four state senators, four members of the state House of Representatives, the state director of the Department of Retirement Services, the director of the state Office of Financial Management, and representatives of state employers and active and retired state employees.

This session, the Legislature set aside $350 million – approximately $50 million of which is expended this biennium – in a new Pension Funding Stabilization Account. But several major pension issues remain, including the unfunded liability for PERS Plan 1, which faces a potential $4 billion shortfall; and how to handle the state’s gain sharing benefit.

Pridemore was elected to the Senate in 2004, and is vice chair of higher education on the Senate Early Learning, K-12 & Higher Education Committee. He also sits on the Senate Ways & Means; Water, Energy & Environment; and Government Operations & Elections committees. Pridemore served as Clark County commissioner from 1998 to 2004 and was Clark County Public Works Finance Manager for six years. He holds a bachelor’s degree in political science from the University of Washington.

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