On Monday, March 23, Gov. Bob Ferguson signed House Bill 2124, sponsored by Rep. Travis Couture, R-Allyn, to modernize how small pension benefits are paid out.
The bill is a fix to the outdated threshold in the state’s retirement system. Under current law, the Department of Retirement Systems can only offer a one-time “lump sum” payout if a retiree’s monthly benefit is $50 or less. HB 2124 raises that limit to $250, allowing thousands of retirees to choose an immediate, substantial payment rather than waiting for monthly checks, a news release from Couture stated.
“Washington has become one of the most expensive states in the nation, and our retirees are feeling the squeeze every time they go to the grocery store or the gas station,” said Couture, who serves as the House Republican budget leader. “Forcing a senior to wait 20 years to collect a small pension in $60 increments makes no sense in this economy. This bill is a common-sense fix that cuts the red tape and puts a more meaningful amount of money into retirees’ pockets right now when they need it most.”
Key impacts of HB 2124 include:
• Financial flexibility: By raising the threshold to $250, retirees have the option to take a lump sum that can be used for immediate needs rather than receiving monthly payments.
• Government efficiency: It reduces the long-term administrative burden on the state.
As the ranking Republican on the House Appropriations Committee, Couture has spent the 2026 session advocating for his “No New Taxes” Affordability First Budget Framework that prioritizes essential services while eliminating waste, according to his release.
“This bill is a small but important example of how we can make government work better for people without growing the size of the bureaucracy,” Couture added. “We should always be looking for ways to return money to the people who earned it, especially as the cost of living in Washington continues to skyrocket.”
