S-438                 _______________________________________________

                                                   SENATE BILL NO. 5344

                        _______________________________________________

State of Washington                              50th Legislature                              1987 Regular Session

By Senator Bauer

Read first time 1/23/87 and referred to Committee on  Ways & Means.

AN ACT Relating to retirement from public service by employees of the grain branch of the commodity inspection division of the department of agriculture; and creating a new section.

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

NEW SECTION. Sec. 1.     (1) An employee of the grain branch of the commodity inspection division of the department of agriculture may elect special early retirement subject to the following conditions:

          (a) The employee must notify the department of retirement systems, in writing, of the election by January 1, 1988, and must retire by June 30, 1988; and

          (b) The employee must have established membership in the public employees' retirement system on or before September 30, 1977, and, at the time of retirement, be within two years of qualifying for retirement under RCW 41.40.180 (1), (2), or (3).

          (2) An employee electing special early retirement under this section shall receive the same retirement allowance the employee would have received if the employee had fulfilled the applicable length of service requirements under RCW 41.40.180 (1), (2), or (3).  This benefit shall be funded by the department of agriculture paying to the retirement system:

          (a) An amount equal to both the employee and employer contributions for the period remaining in the minimum length of service under RCW 41.40.180; plus

          (b) Any additional amount necessary, as determined by the department of retirement systems, to prevent any increase in the unfunded liability of the retirement system resulting from the special early retirement.

          (3) An employee electing special early retirement under this section shall be ineligible for any further employment with the department of agriculture, including part-time employment or a personal services contract.