Z-1403 _______________________________________________
HOUSE BILL NO. 1559
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C 117 L 88
State of Washington 50th Legislature 1988 Regular Session
By Representatives Sayan and Grimm; by request of Department of Retirement Systems
Read first time 1/20/88 and referred to Committee on Ways & Means.
AN ACT Relating to termination of membership for members of the teachers' retirement system plan II; amending RCW 41.32.820 and 41.32.825; and providing an effective date.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. Section 15, chapter 293, Laws of 1977 ex. sess. as amended by section 17, chapter 52, Laws of 1982 1st ex. sess. and RCW 41.32.820 are each amended to read as follows:
A member who ceases to be an employee of an employer except by service or disability retirement may request a refund of the member's accumulated contributions. The refund shall be made within ninety days following the receipt of the request and notification of termination through the contribution reporting system by the employer; except that in the case of death, an initial payment shall be made within thirty days of receipt of request for such payment and notification of termination through the contribution reporting system by the employer. A member who files a request for refund and subsequently enters into employment with another employer prior to the refund being made shall not be eligible for a refund. The refund of accumulated contributions shall terminate membership and all benefits under the provisions of RCW 41.32.755 through 41.32.825.
Sec. 2. Section 16, chapter 293, Laws of 1977 ex. sess. and RCW 41.32.825 are each amended to read as follows:
A member, who had left service and withdrawn the member's accumulated contributions, shall, upon reestablishment of membership under RCW 41.32.240, receive service credit for such prior service if the member restores all withdrawn accumulated contributions together with interest since the time of withdrawal as determined by the department. The restoration of such funds must be completed within five years of the resumption of service or prior to retirement, whichever occurs first.
NEW SECTION. Sec. 3. This act shall take effect July 1, 1988.