_______________________________________________
SENATE
BILL 5510
_______________________________________________
AS
AMENDED BY THE HOUSE
Passed
Legislature - 1992 Regular Session
State
of Washington 52nd Legislature 1991 Regular Session
Read
first time February 4, 1991. Referred to Committee on Ways & Means.
AN ACT
Relating to Washington public employees' retirement system; amending RCW
41.40.150; creating a new section; and providing an effective date.
BE IT
ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
41.40.150 and 1990 c 249 s 17 are each amended to read as follows:
Should
any member die, or should the individual separate or be separated from service
without leave of absence before attaining age sixty years, or should the
individual become a beneficiary, except a beneficiary of an optional retirement
allowance as provided by RCW 41.40.188, the individual shall thereupon cease to
be a member except;
(1) As
provided in RCW 41.40.170.
(2) An
employee not previously retired who reenters service shall upon completion of
six months of continuous service and upon the restoration, in one lump sum
or in annual installments, of all withdrawn contributions with interest as
computed by the director, which restoration must be completed within a total
period of five years of membership service following the member's first
resumption of employment, be returned to the status, either as an original
member or new member which the member held at time of separation.
(3)
Within the ninety days following the employee's resumption of employment, the
employer shall notify the department of the resumption and the department shall
then return to the employer a statement of the potential service credit to be
restored, the amount of funds required for restoration, and the date when the
restoration must be accomplished. The employee shall be given a copy of the
statement and shall sign a copy of the statement which signed copy shall be
placed in the employee's personnel file.
(4) A
member who separates or has separated after having completed at least five
years of service shall remain a member during the period of absence from
service for the exclusive purpose of receiving a retirement allowance to begin
at attainment of age sixty-five, however, such a member may on written notice
to the director elect to receive a reduced retirement allowance on or after age
sixty which allowance shall be the actuarial equivalent of the sum necessary to
pay regular retirement benefits as of age sixty-five: PROVIDED, That if such
member should withdraw all or part of the member's accumulated contributions
except those additional contributions made pursuant to RCW 41.40.330(2), the
individual shall thereupon cease to be a member and this section shall not
apply.
(5)(a)
The recipient of a retirement allowance who is employed in an eligible position
other than under RCW 41.40.120(12) shall be considered to have terminated his
or her retirement status and shall immediately become a member of the
retirement system with the status of membership the member held as of the date
of retirement. Retirement benefits shall be suspended during the period of
eligible employment and the individual shall make contributions and receive
membership credit. Such a member shall have the right to again retire if
eligible in accordance with RCW 41.40.180: PROVIDED, That where any such right
to retire is exercised to become effective before the member has rendered two
uninterrupted years of service the type of retirement allowance the member had
at the time of the member's previous retirement shall be reinstated;
(b)
The recipient of a retirement allowance elected to office or appointed to
office directly by the governor, and who shall apply for and be accepted in
membership as provided in RCW 41.40.120(3) shall be considered to have
terminated his or her retirement status and shall become a member of the
retirement system with the status of membership the member held as of the date
of retirement. Retirement benefits shall be suspended from the date of return
to membership until the date when the member again retires and the member shall
make contributions and receive membership credit. Such a member shall have the
right to again retire if eligible in accordance with RCW 41.40.180: PROVIDED,
That where any such right to retire is exercised to become effective before the
member has rendered six uninterrupted months of service the type of retirement
allowance the member had at the time of the member's previous retirement shall
be reinstated, but no additional service credit shall be allowed: AND PROVIDED
FURTHER, That if such a recipient of a retirement allowance does not elect to
apply for reentry into membership as provided in RCW 41.40.120(3), the member
shall be considered to remain in a retirement status and the individual's
retirement benefits shall continue without interruption.
(6) Any
member who leaves the employment of an employer and enters the employ of a
public agency or agencies of the state of Washington, other than those within
the jurisdiction of the Washington public employees' retirement system, and who
establishes membership in a retirement system or a pension fund operated by
such agency or agencies and who shall continue membership therein until
attaining age sixty, shall remain a member for the exclusive purpose of
receiving a retirement allowance without the limitation found in RCW
41.40.180(1) to begin on attainment of age sixty-five; however, such a member
may on written notice to the director elect to receive a reduced retirement
allowance on or after age sixty which allowance shall be the actuarial
equivalent of the sum necessary to pay regular retirement benefits commencing
at age sixty-five: PROVIDED, That if such member should withdraw all or part
of the member's accumulated contributions except those additional contributions
made pursuant to RCW 41.40.330(2), the individual shall thereupon cease to be a
member and this section shall not apply.
NEW
SECTION. Sec. 2. The
department of retirement systems shall incorporate the development of
individual member accounts receivable into its information systems projects for
fiscal years 1993 and 1994, so that by January 1, 1994, members of state
retirement systems who are otherwise eligible to restore previously withdrawn
contributions have the option to make the restoration in annual installments.
NEW
SECTION. Sec. 3. Section
1 of this act shall take effect January 1, 1994.
Passed the Senate March 7, 1992.
Passed the House March 3, 1992.
Approved by the Governor April 2,
1992.
Filed
in Office of Secretary of State April 2, 1992.
