Providing a benefit increase to certain retirees of the teachers' retirement system plan 1.

HB 2136 increases monthly retirement benefits for certain teachers' retirees under Washington's Plan 1 system. It provides a 1.5% benefit increase (capped at $62.50) for retirees receiving benefits as of July 1, 2017, effective July 2018, and three 3% increases (capped at $110) for retirees as of July 1, 2021-2025, effective July 2022-2026. The bill calculates each increase as a percentage of the retiree's current monthly benefit, but the total increase cannot exceed the specified cap. It excludes retirees covered by specific other retirement provisions under RCW 41.32.489 or 41.32.540.