S-1985.1 _______________________________________________
SENATE BILL 6013
_______________________________________________
State of Washington 55th Legislature 1997 Regular Session
By Senator Prince
Read first time 02/26/97. Referred to Committee on Ways & Means.
AN ACT Relating to retirement benefit plans of colleges and universities; and amending RCW 28B.10.400 and 28B.10.420.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. RCW 28B.10.400 and 1979 ex.s. c 259 s 1 are each amended to read as follows:
The
boards of regents of the state universities, the boards of trustees of the
regional universities and of The Evergreen State College, and the state board
for community and technical colleges ((education)) are
authorized and empowered:
(1)
To assist the faculties and such other employees as any such board may
designate in the purchase of ((old age annuities or retirement income plans))
retirement benefits under such rules and regulations as any such board
may prescribe. County agricultural agents, home demonstration agents, 4-H club
agents, and assistant county agricultural agents paid jointly by the Washington
State University and the several counties shall be deemed to be full time
employees of the Washington State University for the purposes hereof;
(2)
To provide, under such rules and regulations as any such board may prescribe
for the faculty members or other employees under its supervision, for the
retirement of any such faculty member or other employee ((on account of age
or condition of health, retirement on account of age to be not earlier than the
sixty-fifth birthday)): PROVIDED, That ((such faculty member or such
other employee may elect to retire at the earliest age specified for retirement
by federal social security law: PROVIDED FURTHER, That)) any supplemental
payment authorized by subsection (3) of this section ((and paid as a result
of retirement)) shall not be available before age sixty-two and that the
supplemental payment paid to a retiree who retires before earlier than age
sixty-five shall be at an actuarially reduced rate;
(3)
To pay to any such retired person or to ((his)) the retired person's
designated beneficiary(s), each year after ((his)) the retired
person's retirement, a supplemental amount which, when added to the amount
of ((such annuity or)) the retirement ((income plan, or
retirement income)) benefit pursuant to RCW 28B.10.415, received by him or
his designated beneficiary(s) in such year, will not exceed fifty percent of
the average annual salary paid to such retired person for his highest two
consecutive years of full time service under ((an annuity or)) a
retirement ((income)) benefit plan established pursuant to
subsection (1) of this section at an institution of higher education:
PROVIDED, HOWEVER, That if such retired person prior to his retirement elected
a supplemental payment survivors option, any such supplemental payments to such
retired person or his designated beneficiary(s) shall be at actuarially reduced
rates: PROVIDED FURTHER, That if a faculty member or other employee of an
institution of higher education who is a participant in a retirement benefit
plan authorized by this section dies, or has died before retirement but after
becoming eligible for retirement ((on account of age)), the designated beneficiary(s)
shall be entitled to receive the supplemental payment authorized by this
subsection (3) of this section to which such designated beneficiary(s) would
have been entitled had ((said)) the deceased faculty member or
other employee retired on the date of death after electing a supplemental
payment survivors option: PROVIDED FURTHER, That for the purpose of this
subsection, the designated beneficiary(s) shall be (a) the surviving spouse of
the retiree; or, (b) with the written consent of such spouse, if any, such
other person or persons as shall have an insurable interest in the retiree's
life and shall have been nominated by written designation duly executed and
filed with the retiree's institution of higher education.
Sec. 2. RCW 28B.10.420 and 1979 c 14 s 1 are each amended to read as follows:
(1)
((Except as provided otherwise in subsection (2) of this section, faculty
members or other employees designated by the boards of regents of the state
universities, the boards of trustees of the regional universities or of The
Evergreen State College, or the state board for community college education
pursuant to RCW 28B.10.400 through 28B.10.420 as now or hereafter amended shall
be retired from their employment with their institutions of higher education
not later than the end of the academic year next following their seventieth
birthday.
(2)
As provided in this subsection,)) The board of
regents of a state university, the board of trustees of a regional university
or The Evergreen State College, or the state board for community and
technical colleges education may reemploy any person who is
"retired" ((pursuant to subsection (1) of this section, who
applies for reemployment and who has reached seventy years of age on or after
July 1, 1970)) under RCW 28B.10.400(2). The following provisions
shall govern such reemployment:
(a)
((Prior to the reemployment, the board of regents, board of trustees, or
state board shall have found that the person possesses outstanding
qualifications which in the judgment of the board would permit the person to
continue valuable service to the institution.
(b))) The
period of reemployment shall not be counted as service under, or result in any eligibility
for benefits or increased benefits under, any state authorized or supported ((annuity
or)) retirement ((income)) benefits plan. Reemployment shall
not result in the reemployed person or employer making any contributions to any
such plan.
(((c)))
(b) No person may be reemployed on a full time basis if such person is
receiving benefits under any state authorized or supported annuity or
retirement income plan. The reemployment of any person on a full time basis
shall be immediately terminated upon the person's obtaining of any such
benefits.
(((d)))
(c) A person may be reemployed on a part time basis and receive or
continue to receive any benefits for which such person is eligible under any
state authorized or supported ((annuity or)) retirement ((income))
benefits plan. Such part time work, however, shall not exceed forty
percent of full time employment during any year.
(((e))) (d) A person reemployed pursuant to this
section shall comply with all conditions of reemployment and all rules providing
for the administration of this subsection which are prescribed or adopted by
the board of regents, or board of trustees, or by the state board for community
and technical colleges ((education)).
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