Prerequisites to establishing the SRSP
Seattle Mun. Code § 14.36.100
in effect14.36.100 - Prerequisites to establishing the SRSP
A. Before establishing the SRSP and providing for enrollment, the Board shall:
1. Conduct a market analysis to determine the feasibility and projected impacts of the SRSP, as described in this Chapter 14.36; and
2. Obtain legal advice to determine whether the SRSP conflicts with or is preempted by state or federal law, including the Employee Retirement Income Security Act of 1974 (29 U.S.C. § 1001 et seq.) and the Internal Revenue Code.
B. If, following the market and legal analyses described in subsection 14.36.100.A, the Board determines that the SRSP described in this Chapter 14.36 is unfeasible, then the Board shall propose any reasonable changes necessary to make the SRSP feasible. If the Board finds that the SRSP cannot be made feasible, the Board shall recommend to the City Council that the SRSP not be opened for enrollment.
C. The Board may coordinate with the efforts of states and other local governments as they pursue legal and administrative guidance for similar retirement savings programs.
(Ord. 125467, § 1, 2017.)
Source: City of Seattle, Seattle Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/wa/seattle/codes/municipal_code?nodeId=TIT14HURI_CH14.36SERESAPL_14.36.100PRESSRFetched: 11/1/2026