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(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 takes effect on July 24, 2021, it will limit 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 will also lower the price of units bought during the current enrollment year. Any families buying lump sum units between July 1, 2020 and June 30, 2021 can expect to receive nine percent more units later this year after the current $133 unit price is adjusted down to approximately $122. GET participants who set up new Custom Monthly Plans between November 1, 2020 and May 31, 2021 will have their on-going monthly payment amounts lowered and their accounts will be 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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