(1) Accumulated deferrals. Compensation deferred under the plan, adjusted by income received, increases or decreases in investment value, fees, and any prior distributions made.

(2) Automatic enrollment. A process of enrolling newly hired full-time employees as of January 1, 2017. See WAC 415-501-400 for details.

(3) Beneficiary. The person or entity entitled to receive benefits under the plan after the death of a participant.

(4) Compensation. All payments made to a participant by the employer as remuneration for services rendered.

(5) Contributions. The amount of deferred compensation that you contribute monthly, which can be pretax, taxed, or a combination of both.

(6) Deferred compensation. The amount of the participant's compensation that is deferred. Pretax and taxed contributions are both considered deferred compensation. See WAC 415-501-400, 415-501-410, and 415-501-450.

(7) Deferred compensation program or plan. A plan that allows employees of the state of Washington and approved political subdivisions of the state of Washington to defer a portion of their compensation according to the provisions of Section 457(b) of the Internal Revenue Code.

(8) Department. The department of retirement systems created by RCW 41.50.020 or its designee.

(9) Eligible employee. Any person who is employed by and receives any type of eligible compensation from a participating employer for whom services are provided, and who is:

(a) A full-time, part-time, or career seasonal employee of Washington state, a county, a municipality, or other political subdivision of the state, whether or not covered by civil service;

(b) An elected or appointed official of the executive branch of the government, including a full-time member of a board, commission, or committee;

(c) A justice of the supreme court, or a judge of the court of appeals or of a superior or district court; ((or))

(d) A member of the state legislature or of the legislative authority of a county, city, or town; or

(e) A volunteer firefighter in accordance with RCW 41.24.010(6).

(10) Eligible rollover distribution. A distribution to a participant of any or all funds from an eligible retirement plan unless it is:

(a) One in a series of substantially equal annuity payments;

(b) One in a series of substantially equal installment payments payable over 10 years or more;

(c) Required to meet minimum distribution requirements of the plan; or

(d) Distributed for hardship or unforeseeable emergency from a 457 plan.

(11) Employer.

(a) The state of Washington; and

(b) Approved political subdivisions of the state of Washington.

(12) In-plan conversion. Allows you to take all or a portion of the funds in your pretax account and convert it to a Roth account.

(13) Normal retirement age. An age designated by the participant for purposes of the three-year catch-up provision described in WAC 415-501-430(2). The participant may choose a normal retirement age between:

(a) The earliest age at which an eligible participant has the right to receive retirement benefits without actuarial or similar reduction from his/her retirement plan with the same employer; and

(b) Age 70 1/2.

(14) Participant. An eligible employee who:

(a) Is currently deferring compensation under the plan; or

(b) Has previously deferred compensation and has not received a distribution of his/her entire benefit under the plan.

(15) Participation agreement. The agreement executed by an eligible employee to enroll in the plan through methods established by the department. Includes the participant's authorization to defer compensation through payroll deductions pursuant to WAC 415-501-410 and 415-501-450.

(16) Qualified distribution. A distribution of funds from a designated Roth account that is not subject to further taxation. A qualified distribution may only occur:

(a) After a five-taxable-year period of participation in the Roth account; and

(b) If the distribution is made: (i) On or after attainment of age 59 1/2, (ii) becoming permanently disabled, or (iii) death.

(17) Roth account. A form of deferred compensation in which funds are subject to federal income tax at the time of contribution.

(18) Seasonal employee. An employee whose position is anticipated to last fewer than five consecutive months.

(19) You, as used in this chapter, means a participant as defined in subsection (14) of this section.