What is Senate Bill 5430?

(May 12, 2021) - Senate Bill 5430 passed the Washington Legislature and was signed into law by Governor Inslee on May 10, 2021. When the bill took effect on July 24, 2021, it limited the future price of GET units to no more than 10 percent above that year’s current unit payout value, which is based on in-state tuition rates. This price limit will apply as long as the current state tuition policy remains in effect and GET’s funded status remains over 120%. 

Importantly, this bill also lowered the price of units bought during the 2020-21 enrollment year. Any families that bought lump sum units between July 1, 2020 and June 30, 2021 received nine percent more units in September of 2021 after the $133 unit price was adjusted down to approximately $122. GET participants who set up new Custom Monthly Plans between November 1, 2020 and May 31, 2021 had their on-going monthly payment amounts lowered and their accounts were credited based on any payments already made on the plan.

For more information on Senate Bill 5430 and how it may impact your GET account, visit our Senate Bill 5430 Resource page.

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