Washington § 41.50.180 Inactive accounts—Identification, closing, and refund.

Washington Statutes

§ 41.50.180 — Inactive accounts—Identification, closing, and refund.

Washington § 41.50.180

Title 41PUBLIC EMPLOYMENT, CIVIL SERVICE, AND PENSIONS

Ch. 41.50DEPARTMENT OF RETIREMENT SYSTEMS

This text of Washington § 41.50.180 (Inactive accounts—Identification, closing, and refund.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wash. Rev. Code § 41.50.180 (2026).

Text

(1)By January 1, 2022, the department will establish by rule an effective means of:

(a)Identifying inactive accounts of nonvested members of the retirement systems listed in RCW 41.50.030 whose account balance is less than one thousand dollars; and

(b)Providing for the orderly closing and refunding of member account balances in those accounts in accordance with the federal internal revenue code.

(2)The refund of a member's account balance will terminate all rights to future benefits, unless otherwise restored under the rules for each of the respective retirement systems.

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(1) By January 1, 2022, the department will establish by rule an effective means of:

(a) Identifying inactive accounts of nonvested members of the retirement systems listed in RCW 41.50.030 whose account balance is less than one thousand dollars; and

(b) Providing for the orderly closing and refunding of member account balances in those accounts in accordance with the federal internal revenue code.

(2) The refund of a member's account balance will terminate all rights to future benefits, unless otherwise restored under the rules for each of the respective retirement systems.