S-4033.1 _______________________________________________
SENATE BILL 6568
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State of Washington 54th Legislature 1996 Regular Session
By Senators Prentice and Heavey
Read first time 01/18/96. Referred to Committee on Ways & Means.
AN ACT Relating to a retirement incentive for certain plan I members of the Washington state teachers' retirement system or Washington public employees' retirement system; adding a new section to chapter 41.32 RCW; adding a new section to chapter 41.40 RCW; and declaring an emergency.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) Any employee and member of plan I of the Washington state teachers' retirement system on the effective date of this act who has or will have thirty or more service credit years by July 1, 1996, and is otherwise qualified for retirement, may petition for retirement by July 1, 1996, and receive, after retirement, a twenty thousand dollar retirement incentive payment.
(2) The incentive payment is a one-time, lump sum payment that shall not be included in any calculation under this chapter.
NEW SECTION. Sec. 2. Section 1 of this act is added to chapter 41.32 RCW under the subchapter heading "PLAN I," but because of its temporary nature shall not be codified.
NEW SECTION. Sec. 3. (1) Any employee and member of plan I of the Washington public employees' retirement system on the effective date of this act who has or will have thirty or more service credit years by August 1, 1996, and is otherwise qualified for retirement, may petition for retirement by August 1, 1996, and receive, after retirement, a twenty thousand dollar retirement incentive payment.
(2) The incentive payment is a one-time, lump sum payment that shall not be included in any calculation under this chapter.
NEW SECTION. Sec. 4. Section 3 of this act is added to chapter 41.40 RCW under the subchapter heading "PLAN I," but because of its temporary nature shall not be codified.
NEW SECTION. Sec. 5. This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and shall take effect immediately.
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