1649-S AMH FROM PRIN 032

SHB 1649 - H AMD 268

By Representative Fromhold

WITHDRAWN 3/12/2007

   On page 3, line 14, after "for members of plan 2." insert "The member shall pay five percent of the salary earned for each month of service for which the higher benefit multiplier is being purchased, plus interest as determined by the director."

   On page 4, line 19, after "sixty-six." insert "The member shall pay five percent of the salary earned for each month of service for which the higher benefit multiplier is being purchased, plus interest as determined by the director."

EFFECT: Specifies, consistent with the other service credit purchase provisions changed in the bill, that the cost of improving the value of past years of service for district and municipal court judges in the Public Employees' Retirement System (PERS) Plans 1 or 2 is 5 percent of the salary earned in that year, plus interest, for each year purchased. Also specifies that for supreme court, court of appeals, and superior court judges in PERS Plan 3 the cost of improving past service credit is 2.5 percent of salary plus interest for each year purchased.