H-130 _______________________________________________
HOUSE BILL NO. 10
_______________________________________________
C 417 L 87
State of Washington 50th Legislature 1987 Regular Session
By Representatives Grimm and Sayan
Prefiled with Chief Clerk 1/09/87. Read first time 1/12/87 and referred to Committee on Ways & Means.
AN ACT Relating to the transfer of service credit from the state-wide city employees' retirement system; and amending RCW 41.40.403.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
Sec. 1. Section 9, chapter 184, Laws of 1984 and RCW 41.40.403 are each amended to read as follows:
(1) Any
person who was a member of the state-wide city employees' retirement system
governed by chapter 41.44 RCW and who also became a member of the public
employees' retirement system on or before ((March 15, 1984)) the
effective date of this 1987 section, may, in a writing filed with the
director, elect to:
(a) Transfer to the public employees' retirement system all service currently credited under chapter 41.44 RCW;
(b) Reestablish and transfer to the public employees' retirement system all service which was previously credited under chapter 41.44 RCW but which was canceled by discontinuance of service and withdrawal of accumulated contributions as provided in RCW 41.44.190. The service may be reestablished and transferred only upon payment by the member to the employees' savings fund of the public employees' retirement system of the amount withdrawn plus interest thereon from the date of withdrawal until the date of payment at a rate determined by the director. No additional payments are required for service credit described in this subsection if already established under this chapter; and
(c) Establish service credit for the initial period of employment not to exceed six months, prior to establishing membership under chapter 41.44 RCW, upon payment in full by the member of the total employer's contribution to the benefit account fund of the public employees' retirement system that would have been made under this chapter when the initial service was rendered. The payment shall be based on the first month's compensation earnable as a member of the state-wide city employees' retirement system and as defined in RCW 41.44.030(13). However, a person who has established service credit under RCW 41.40.010(11) (c) or (d) shall not establish additional credit under this subsection nor may anyone who establishes credit under this subsection establish any additional credit under RCW 41.40.010(11) (c) or (d). No additional payments are required for service credit described in this subsection if already established under this chapter.
(2)(a) In
the case of a member of the public employees' retirement system who is employed
by an employer on ((March 15, 1984)) the effective date of this 1987
section, the written election required by subsection (1) of this section must
be filed and the payments required by subsection (1)(b) and (c) of this section
must be completed in full within one year after ((March 15, 1984)) the
effective date of this 1987 section.
(b) In the
case of a former member of the public employees' retirement system who is not
employed by an employer on ((March 15, 1984)) the effective date of
this 1987 section, the written election must be filed and the payments
must be completed in full within one year after reemployment by an employer.
(c) In the case
of a retiree receiving a retirement allowance from the public employees'
retirement system on ((March 15, 1984)) the effective date of this
1987 section, or any person having vested rights as described in RCW
41.40.150(3) or (5), the written election may be filed and the payments may be
completed at any time.
(3) Upon receipt of the written election and payments required by subsection (1) of this section from any retiree described in subsection (2)(c) of this section, the department shall recompute the retiree's allowance in accordance with this section and shall pay any additional benefit resulting from such recomputation retroactively to the date of retirement from the system governed by this chapter.