2604-S AAS 3/1/00

SHB 2604 - S COMM AMD (S4846.1)

By Committee on Ways & Means

                                                    ADOPTED 3/1/00

    On page 6, after line 25, insert the following:

    "NEW SECTION. Sec. 1.  No later than July 1, 2000, the department of retirement systems shall allow a member who:  (1) Has attained ninety years of age, and (2) elected to receive a reduced retirement allowance under RCW 41.32.530 and designated a nonspouse as survivor beneficiary, the opportunity to remove the survivor designation and have their future benefit adjusted."

    Renumber the remaining sections consecutively and correct any internal references accordingly.

SHB 2604 - S COMM AMD (S4846.1)

By Committee on Ways & Means

                                                    ADOPTED 3/1/00

    On page 1, line 3 of the title, after "41.40.660;" insert "creating a new section;"

SHB 2604 - S COMM AMD (S4913.1)

By Committee on Ways & Means

                                                    ADOPTED 3/1/00

    On page 16, after line 25, insert the following:

    "Sec. 8.  RCW 43.43.278 and 1999 c 74 s 4 are each amended to read as follows:

    By July 1, 2000, the department of retirement systems shall adopt rules that allow a member to select((, in lieu of benefits under RCW 43.43.270,)) an actuarially equivalent retirement option that pays the member a reduced retirement allowance and upon death shall be continued throughout the life of a lawful surviving spouse.  The continuing allowance to the lawful surviving spouse shall be subject to the yearly increase provided by RCW 43.43.260(5) in lieu of the annual increase provided in RCW 43.43.272.  The allowance to the lawful surviving spouse under this section, and the allowance for an eligible child or children under RCW 43.43.270, shall not be subject to the limit for combined benefits under RCW 43.43.270."

    Renumber the remaining section.

SHB 2604 - S COMM AMD (S4913.1)

By Committee on Ways & Means

                                                    ADOPTED 3/1/00

    On page 1, line 3 of the title, strike "and 41.40.660" and insert "41.40.660, and 43.43.278"

EFFECT:  Instructs the department to allow members who are ninety years of age and older to remove the survivor designation from a beneficiary if the beneficiary was a nonspouse when designated.  When the survivor designation is removed, the member's future benefit is adjusted.

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