Well, it's good news they're currently well-funded, especially with their 7.9% investment return assumptions per the most recent CAFR (http://www.drs.wa.gov/administration/ann…). Anyone outside pension boards think that's a realistic return (especially given the investment performance they show in aforementioned CAFR)?
Funded, yes, but they also lost a lot of money in the 2008/9 downturns.