5352 AMH APP MCLA 3

SB 5352 - H COMM AMD ADOPTED 4-17-93

By Committee on Appropriations

     On page 2, after line 6, insert the following:

     "NEW SECTION. Sec. 2.   A new section is added to chapter 41.50 RCW to read as follows:

     Members of the teachers' retirement system who retired prior to January 1, 1993, from service with a community college district whose reported earnable compensation included payments made pursuant to an agreement to terminate or retire, or to provide notice of intent to retire, and whose retirement allowance has been  reduced under RCW 41.50.150 or is reduced after the effective date of this act under section (1) of this act, shall have an opportunity to change the retirement allowance payment option selected by the member under RCW 41.32.530.  Any request for a change shall be made in writing to the department no later than October 31, 1993 and shall apply prospectively only."

EFFECT:  TRS I members who retired from community colleges before January 1, 1993 and who had, or will have, their pensions reduced by the department because the pensions included "retirement incentives," may change their retirement payment option by October 31, 1993.