H-3440.1 _______________________________________________
HOUSE BILL 2679
_______________________________________________
State of Washington 56th Legislature 2000 Regular Session
By Representatives Wolfe, Romero, Kessler, Haigh and O'Brien
Read first time 01/18/2000. Referred to Committee on Appropriations.
AN ACT Relating to early retirement for certain members of the public employees' retirement system; and creating new sections.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. (1) Subject to subsection (2) of this section, in addition to members eligible to retire under RCW 41.40.180, any member of the public employees' retirement system plan 1 who meets the following criteria may retire after providing written notification to the member's employer and submitting the required application to the director on a form provided by the department:
(a) The member was employed by an employer in an eligible position on November 1, 1999;
(b) The member's employer is a county, city, town, or transit district or the state departments of transportation or ecology; and
(c) The member has: (i) Attained the age of fifty-five years and completed five service credit years of service; (ii) completed twenty-five service credit years of service; or (iii) attained the age of fifty years and completed twenty service credit years of service.
(2) A member must submit the required notification and application no later than August 31, 2000, setting forth that the member shall be retired no later than December 31, 2000.
NEW SECTION. Sec. 2. Section 1 of this act is added to chapter 41.40 RCW, but because of its temporary nature, shall not be codified.
NEW SECTION. Sec. 3. (1) Subject to subsection (2) of this section, in addition to members eligible to retire under RCW 41.40.630, any member of the public employees' retirement system plan 2 who meets the following criteria may retire after providing written notification to the member's employer and submitting the required application to the director on a form provided by the department:
(a) The member was employed by an employer in an eligible position on November 1, 1999;
(b) The member's employer is a county, city, town, or transit district or the state departments of transportation or ecology; and
(c) The member has: (i) Attained the age of sixty years and completed five service credit years of service; or (ii) attained the age of fifty years and completed fifteen service credit years of service. A member who retires under (c)(ii) of this subsection shall have his or her retirement allowance reduced by three percent per year to reflect the difference in the number of years between age at retirement and the attainment of age sixty.
(2) A member must submit the required notification and application no later than August 31, 2000, setting forth that the member shall be retired no later than December 31, 2000.
NEW SECTION. Sec. 4. Section 3 of this act is added to chapter 41.40 RCW, but because of its temporary nature, shall not be codified.
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