| Passed by the Senate February 9, 2012 YEAS 48 ________________________________________ President of the Senate Passed by the House March 1, 2012 YEAS 96 ________________________________________ Speaker of the House of Representatives | I, Thomas Hoemann, Secretary of the Senate of the State of Washington, do hereby certify that the attached is SENATE BILL 5365 as passed by the Senate and the House of Representatives on the dates hereon set forth. ________________________________________ Secretary | |
| Approved ________________________________________ Governor of the State of Washington | Secretary of State State of Washington |
| State of Washington | 62nd Legislature | 2011 Regular Session |
Read first time 01/21/11. Referred to Committee on Ways & Means.
AN ACT Relating to the purchase of retirement pension coverage by certain volunteer firefighters and reserve officers; and adding a new section to chapter 41.24 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1 A new section is added to chapter 41.24 RCW
to read as follows:
(1) At any time prior to or upon retiring and prior to receiving
any pension disbursements, a participant is allowed to:
(a) Purchase retirement pension coverage as provided in subsection
(2) of this section for years of service credited prior to their
enrollment in the pension system, and for which reinstatement of years
of service is not available under RCW 41.24.040; or
(b) Purchase retirement pension coverage as provided in subsection
(2) of this section for years of service that were lost due to the
withdrawal of pension fees.
(2) The participant and/or the municipality must make payment for
the purchase of retirement pension coverage by paying the actuarial
value of the resulting benefit increase in a manner defined by the
state board.
(3) Retirement pension coverage may only be purchased for the
period in which service was performed as defined in RCW 41.24.010(9)
and in a manner consistent with this section.