H-2396              _______________________________________________

                                          SUBSTITUTE HOUSE BILL NO. 1070

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By House Committee on Ways & Means/Appropriations (originally sponsored by Representatives Unsoeld, Belcher, Jacobsen, Cole, Lux, Nelson, Hine, P. King, Sutherland, Walk, Zellinsky, Basich, Leonard, Cooper, Patrick, Holland, Miller, May, H. Sommers, R. King, Dellwo, Rasmussen and Brough)

Read first 3/9/87 and passed to Committee on Rules.

AN ACT Relating to retirement benefits for teachers who are not receiving social security benefits; amending RCW 41.32.4931; making an appropriation; providing an effective date; and declaring an emergency.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

        Sec. 1.  Section 6, chapter 151, Laws of 1967 as amended by section 3, chapter 32, Laws of 1973 2nd ex. sess. and RCW 41.32.4931 are each amended to read as follows:

          (1) ((Any former member of the teachers' retirement system or a former fund who is receiving a retirement allowance for service or disability on July 1, 1967, shall upon application approved by the board of trustees of the retirement system receive a pension of five dollars and fifty cents per month for each year of creditable service established with the retirement system:  PROVIDED, That such former members who were retired pursuant to option 2 or option 3 of RCW 41.32.530 shall upon like application receive a pension which is actuarially equivalent under said option to the benefits provided in this section:  PROVIDED FURTHER, That)) The benefits provided under subsection (2) of this section shall be available only to former members who have reached age sixty-five or are disabled for further public school service and are not receiving federal old age, survivors or disability benefit payments (social security) and are not able to qualify for such benefits((:  PROVIDED FURTHER, That anyone qualifying for benefits pursuant to this section shall not receive a smaller pension than he was receiving prior to July 1, 1967)).

          (2) Effective ((the first day of the month following the effective date of this 1973 amendatory act)) July 1, 1987, former members who ((have qualified for and have been granted benefits under)) receive the minimum retirement allowance provided by RCW 41.32.485(1) and who meet the requirements of subsection (1) of this section shall receive an additional special pension of ((three)) ten dollars per month per year of service credit.  ((Such special pension shall be in addition to the minimum pension provided by RCW 41.32.497 and the cost-of-living increases provided under section 9, chapter 189, Laws of 1973 1st ex. sess., RCW 41.32.499.))

NEW SECTION. Sec. 2.     There is appropriated two hundred thousand dollars, or so much thereof as may be necessary, from the general fund for the teachers' retirement fund for the biennium ending June 30, 1989, for the purposes of this act.

NEW SECTION. Sec. 3.     This act is necessary for the immediate preservation of the public peace, health, and safety, the support of the state government and its existing public institutions, and shall take effect July 1, 1987.