5851-S AMS ROAC CUTL 022

SSB 5851 - S AMD TO 5851-S AMS BAIL S2543.1 329

By Senators Roach, Benton, Hargrove

ADOPTED 04/25/2013

    On page 5, line 19, after "Make", strike "an irrevocable choice" , and insert  "a choice";

    On page 5, line 19, after "system", strike everything through "section" on line 21;

    On page 5, line 31, after "make", strike "an irrevocable choice", and insert "a choice";

    On page 6, line 20, after "one-time", strike "and irrevocable";

    On page 7, on line 32, after "plan", insert "except as provided in section 216 of this act";

    On page 14, after line 4, insert:

    "NEW SECTION. Sec. 216.  A person who has made an election to become a member of the public employees savings plan may, if otherwise eligible, elect to transfer to membership in plan 3 of a retirement system established under chapters 41.32, 41.35, 41.37, or 41.40 RCW. A person who transfers membership under this section may establish service credit in the applicable plan 3 for periods of time in the public employees savings plan by making payment for the actuarial value of the service credit pursuant to RCW 41.50.165."

    On page 14, on line 5, after "NEW SECTION., strike "Sec. 216. Sections 201 through 215", and insert "Sec. 217. Sections 201 through 216"

    On page 16, line 19, after "make", strike "an irrevocable choice", and insert "a choice";

    On page 17, beginning on line 4, after "make", strike "an irrevocable choice", and insert "a choice";

    On page 17, beginning on line 26, after "make", strike "an irrevocable choice", and insert "a choice";

    On page 18, on line 8, after "make", strike "an irrevocable choice", and insert "a choice";

EFFECT:   Permits persons who elect to become members of the public employees savings plan to later transfer, if otherwise eligible, to plan 3 and to purchase service credit for the period of time covered in the public employees savings plan. 

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