RCW 41.40.780 Provisions applicable to plan 3—Plan 3 elements. (1) RCW 41.40.780 through 41.40.850 and 41.40.930 apply only to plan 3 members. (2) Plan 3 consists of two separate elements: (a) A defined benefit portion covered under this subchapter; and (b) a defined contribution portion covered under chapter 41.34 RCW. (3) Unless otherwise specified, all […]
RCW 41.40.785 Membership in plan 2 or plan 3—Irrevocable choice—Default. (1) All employees who first become employed by an employer in an eligible position on or after March 1, 2002, for state agencies or institutes of higher education, or September 1, 2002, for other employers, shall have a period of ninety days to make an […]
RCW 41.40.787 Right to waive benefit—Irrevocable choice. Any member receiving or having received a distribution under chapter 41.34 RCW may make an irrevocable choice to waive all rights to a benefit under RCW 41.40.790 by notifying the department in writing of their intention. [ 2003 c 349 § 3.] NOTES: Effective date—2003 c 349: See […]
RCW 41.40.790 Computation of retirement allowance. (1) A member of the retirement system shall receive a retirement allowance equal to one percent of such member’s average final compensation for each service credit year. (2) The retirement allowance payable under RCW 41.40.820 to a member who separates after having completed at least twenty service credit years […]
RCW 41.40.795 Transfer period and basis—Additional transfer payment. (1) As used in this section, unless the context clearly requires otherwise: (a) “Transfer period” means the time during which a member of one of the groups of plan 2 members identified in subsection (2) of this section may choose to irrevocably transfer from plan 2 to […]
RCW 41.40.798 Higher education employees—Option to transfer to plan 3—Limitation on supplemental benefits under RCW 28B.10.400. (1) All employees who are not qualified under RCW 41.32.836 and who are first employed by an institution of higher education in a position eligible for participation in old age annuities or retirement income plans under RCW 28B.10.400 on […]
RCW 41.40.801 Application for and effective date of retirement allowances. Any member or beneficiary eligible to receive a retirement allowance under the provisions of RCW 41.40.820, 41.40.825, or 41.40.835 is eligible to commence receiving a retirement allowance after having filed written application with the department. (1) Retirement allowances paid to members shall accrue from the […]
RCW 41.40.805 Leaves of absence—Military service. (1) A member who is on a paid leave of absence authorized by a member’s employer shall continue to receive service credit. (2) A member who receives compensation from an employer while on an authorized leave of absence to serve as an elected official of a labor organization, and […]
RCW 41.40.811 Purchased service credit—Allocation. (1) Contributions on behalf of the employer paid by the employee to purchase plan 3 service credit shall be allocated to the defined benefit portion of plan 3 and shall not be refundable when paid to the fund described in RCW 41.50.075(3). Contributions on behalf of the employee shall be […]
RCW 41.40.815 Lump sum payments—Reentry. (1) The director may pay a member eligible to receive a retirement allowance or the member’s beneficiary a lump sum payment in lieu of a monthly benefit if the initial monthly benefit would be less than one hundred dollars. The one hundred dollar limit shall be increased annually as determined […]
RCW 41.40.820 Retirement eligibility. (1) NORMAL RETIREMENT. Any member who is at least age sixty-five and who has: (a) Completed ten service credit years; or (b) Completed five service credit years, including twelve service credit months after attaining age forty-four; or (c) Completed five service credit years by the transfer payment date specified in RCW […]
RCW 41.40.823 Member with terminal illness—Removal from system. (1) Upon application of the member, a member who is diagnosed with a terminal illness shall be removed from membership in the system subject to the following conditions: (a) That the medical adviser, after a medical examination of the member made by or under the direction of […]
RCW 41.40.825 Disability allowance—Death of recipient. (1) A member of the retirement system who becomes totally incapacitated for continued employment by an employer as determined by the department shall be eligible to receive an allowance under the provisions of plan 3. The member shall receive a monthly disability allowance computed as provided for in RCW […]
RCW 41.40.830 Restored, purchased service credit under plan 2—Transfer to plan 3. (1) Any member who elects to transfer to plan 3 and has eligible unrestored withdrawn contributions in plan 2, may restore such contributions under the provisions of RCW 41.40.740 with interest as determined by the department. The restored plan 2 service credit will […]
RCW 41.40.835 Death benefits. (1) If a member dies prior to retirement, the surviving spouse or eligible child or children shall receive a retirement allowance computed as provided in RCW 41.40.790 actuarially reduced to reflect a joint and one hundred percent survivor option and, except under subsection (2) of this section, if the member was […]
RCW 41.40.840 Postretirement cost-of-living. Beginning July 1, 1979, and every year thereafter, the department shall determine the following information for each retired member or beneficiary whose retirement allowance has been in effect for at least one year: (1) The original dollar amount of the retirement allowance; (2) The index for the calendar year prior to […]
RCW 41.40.845 Options for payment of retirement allowances—Court-approved property settlement. (1) Upon retirement for service as prescribed in RCW 41.40.820 or retirement for disability under RCW 41.40.825, a member shall elect to have the retirement allowance paid pursuant to one of the following options, calculated so as to be actuarially equivalent to each other. (a) […]
RCW 41.40.850 Suspension of retirement allowance upon reemployment—Exception—Reinstatement. (1) Except as provided in RCW 41.40.037, no retiree under the provisions of plan 3 shall be eligible to receive such retiree’s monthly retirement allowance if he or she is employed in an eligible position as defined in RCW 41.40.010, 41.32.010, 41.35.010, or 41.37.010, or as a […]
RCW 41.40.870 Discontinuing judicial retirement account plan contributions—Additional benefit—One-time irrevocable election—Justices and judges. (1) Between January 1, 2007, and December 31, 2007, a member of plan 3 employed as a supreme court justice, court of appeals judge, or superior court judge may make a one-time irrevocable election, filed in writing with the member’s employer, the […]
RCW 41.40.873 Additional benefit for district or municipal court judges—One-time irrevocable election. (1) Between January 1, 2007, and December 31, 2007, a member of plan 3 employed as a district court judge or municipal court judge may make a one-time irrevocable election, filed in writing with the member’s employer and the department, to accrue an […]
