§ 41.32.818 — Public employees' retirement system members who previously declined membership in the teachers' retirement system—Transfer to plan 3—Irrevocable option.

Washington § 41.32.818

• Jurisdiction: Washington
• Title 41: PUBLIC EMPLOYMENT, CIVIL SERVICE, AND PENSIONS
• Ch. 41.32: TEACHERS' RETIREMENT

Text

Any member of the public employees' retirement system plan 2 who is employed in an eligible position as an educational staff associate and who elected pursuant to RCW 41.32.032 (2)(a) to remain a member of the public employees' retirement system under chapter 41.40 RCW may make an irrevocable option before January 1, 1998, to transfer to plan 3 pursuant to RCW 41.32.817 , PROVIDED THAT:

(1) Only service credit for previous periods of employment in a position covered by RCW 41.32.010 is transferred to plan 3;

(2) Equivalent accumulated employee and employer contributions attributable to service covered by subsection (1) of this section are transferred to plan 3;

(3) Employer contributions transferred under this section shall be paid into the teachers' retirement system combined plan 2 and 3 fund.

Effective dates — 1996 c 39: See note following RCW 41.32.010 .

Intent — Purpose — 1995 c 239: See note following RCW 41.32.831 .

Effective date — Part and subchapter headings not law — 1995 c 239: See notes following RCW 41.32.005 .

Legislative History

[1996 c 39 s 3;1995 c 239 s 304.]