SENATE BILL 5219
State of Washington 55th Legislature 1997 Regular Session
By Senators Winsley, Long, Fraser, Bauer and Franklin; by request of Joint Committee on Pension Policy
Read first time 01/20/97. Referred to Committee on Ways & Means.
AN ACT Relating to transferring prior service in the law enforcement officers' and fire fighters' pension system plan I; and adding a new section to chapter 41.26 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter 41.26 RCW under the subchapter heading "plan I" to read as follows:
Any member of the teachers' retirement system plans I, II, or III, the public employees' retirement system plans I or II, or the Washington state patrol retirement system who has previously established service credit in the law enforcement officers' and fire fighters' retirement system plan I may make an irrevocable election to have such service transferred to their current retirement system and plan subject to the following conditions:
(1) If the individual is employed by an employer in an eligible position, as of July 1, 1997, the election to transfer service must be filed in writing with the department no later than July 1, 1998. If the individual is not employed by an employer in an eligible position, as of July 1, 1997, the election to transfer service must be filed in writing with the department no later than one year from the date they are employed by an employer in an eligible position.
(2) An individual transferring service under this section forfeits the rights to all benefits as a member of the law enforcement officers' and fire fighters' retirement system plan I and will be permanently excluded from membership.
(3) Any individual choosing to transfer service under this section will have transferred to their current retirement system and plan: (a) All the individual's accumulated contributions; (b) an amount sufficient to ensure that the employer contribution rate in the individual's current system and plan will not increase due to the transfer; and (c) all applicable months of service, as defined in RCW 41.26.030(14)(a).
(4) If an individual has withdrawn contributions from the law enforcement officers' and fire fighters' retirement system plan I, the individual may restore the contributions, together with interest as determined by the director, and recover the service represented by the contributions for the sole purpose of transferring service under this section. The contributions must be restored before the transfer can occur and the restoration must be completed within the time limitations specified in subsection (1) of this section.
(5) Any service transferred under this section does not apply to the eligibility requirements for military service credit as defined in RCW 41.40.170(3) or 43.43.260(3).
(6) If an individual does not meet the time limitations of subsection (1) of this section, the individual may elect to restore any withdrawn contributions and transfer service under this section by paying the amount required under subsection (3)(b) of this section less any employee contributions transferred.
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