Section 365-65-060 - Approval of verified plans(1) The department will approve a diverse array of verified plan options to be offered in the marketplace, including but not limited to: (a) Life insurance plans or annuities that are designed for retirement purposes;(b) Plans for eligible employer participation such as a SIMPLE-IRA type of plan that provides for employer contributions to participant accounts; and(c) A payroll deduction individual retirement account or individual retirement annuity, or a workplace based individual retirement account open to all workers to which the employer does not contribute.(2) The department will approve the myRA retirement program to be offered in the marketplace.(3) A verified plan that is proposed to be offered in the marketplace must be submitted to the department for review and approval, including all documentation, in a form prescribed by the department.(4) A verified plan that is proposed to be offered in the marketplace must comply with applicable laws and rules, including but not limited to federal tax laws.Wash. Admin. Code § 365-65-060
Adopted by WSR 16-12-029, Filed 5/23/2016, effective 6/23/2016Amended by WSR 17-19-058, Filed 9/13/2017, effective 10/14/2017