| Passed by the Senate March 12, 2009 YEAS 46 ________________________________________ President of the Senate Passed by the House April 13, 2009 YEAS 97 ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 5303 as passed by the Senate and the House of Representatives on the dates hereon set forth. ________________________________________ Secretary | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 61st Legislature | 2009 Regular Session |
Read first time 01/20/09. Referred to Committee on Ways & Means.
AN ACT Relating to the transfer of public employees' retirement system plan 2 members to the school employees' retirement system plan 2; and amending RCW 41.40.750.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1 RCW 41.40.750 and 2001 2nd sp.s. c 10 s 13 are each
amended to read as follows:
(1) Effective September 1, 2000, the membership of all plan 2
members currently employed in eligible positions in a school district
or educational service district and all plan 2 service credit for such
members, is transferred to the Washington school employees' retirement
system plan 2. Plan 2 members who have withdrawn their member
contributions for prior plan 2 service may restore contributions and
service credit to the Washington school employees' retirement system
plan 2 as provided under RCW 41.40.740.
(2)(a) The membership and previous service credit of a plan 2
member not employed in an eligible position on September 1, 2000, will
be transferred to the Washington school employees' retirement system
plan 2 when he or she becomes employed in an eligible position prior to
August 1, 2009. Plan 2 members not employed in an eligible position on
September 1, 2000, who have withdrawn their member contributions for
prior plan 2 service may restore contributions and service credit to
the Washington school employees' retirement system plan 2 as provided
under RCW 41.40.740, if they first establish eligibility in the
Washington school employees' retirement system plan 2 prior to August
1, 2009.
(b) The membership and previous service credit of a plan 2 member
last employed by a school district or educational service district and
retired prior to September 1, 2000, will be transferred to the
Washington school employees' retirement system plan 2 if the member
opts to reestablish membership prior to August 1, 2009.
(3) Members who restore contributions and service credit under
subsection (1) or (2) of this section shall have their contributions
and service credit transferred to the Washington school employees'
retirement system.
(4) From September 1, 2009, through November 30, 2009, upon written
request to the department, active and inactive members transferred
under subsection (2) of this section who did not establish membership
and earn service credit for employment with a school district or
educational service district prior to the transfer, and who have not
transferred to plan 3 of the Washington school employees' retirement
system or plan 3 of the public employees' retirement system, may
restore their transferred membership and previous service credit to
plan 2. All previously transferred contributions and interest, and
additional interest as determined by the department, shall be returned
to plan 2. An additional amount shall be transferred from the
Washington school employees' retirement system sufficient to offset the
liabilities returned to plan 2 under this subsection, as determined by
the state actuary.