S-3687 _______________________________________________
SENATE BILL NO. 6716
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State of Washington 51st Legislature 1990 Regular Session
By Senators Vognild, Johnson, Conner, Nelson and Sutherland
Read first time 1/24/90 and referred to Committee on Ways & Means.
AN ACT Relating to the retirement age of law enforcement officers and firefighters; and amending RCW 41.26.430.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. Section 4, chapter 294, Laws of 1977 ex. sess. and RCW 41.26.430 are each amended to read as follows:
(1) NORMAL
RETIREMENT. Any member with at least five years of service who has
attained at least age ((fifty-eight)) fifty-three shall be
eligible to retire and to receive a retirement allowance computed according to
the provisions of RCW 41.26.420.
(2) EARLY
RETIREMENT. Any member who has completed at least ((twenty)) twenty-five
years of service and has attained age fifty shall be eligible to retire and to
receive a retirement allowance computed according to the provisions of RCW
41.26.420((, except that a member retiring pursuant to this subsection shall
have the retirement allowance actuarially reduced to reflect the difference in
the number of years between age at retirement and the attainment of age
fifty-eight)).
(3) Any increase in the rate of contribution made necessary by a change of the retirement age, under subsections (1) and (2) of this section, shall be apportioned as follows:
(a) Thirty-three and one-third percent to be paid by the member;
(b) Thirty-three and one-third percent to be paid by the employer; and
(c) Thirty-three and one-third percent to be paid by the state of Washington.