28B.10.423 - Annuities and retirement income plans -- Limit on retirement income -- Adjustment of rates. - Washington Statutes

Annuities and retirement income plans — Limit on retirement income — Adjustment of rates.

It is the intent of RCW 28B.10.400, 28B.10.405, 28B.10.410, 28B.10.415, 28B.10.420, 28B.10.423 and 83.20.030 that the retirement income resulting from the contributions described herein from the state of Washington and the employee shall be projected actuarially so that it shall not exceed sixty percent of the average of the highest two consecutive years salary. Periodic review of the retirement systems established pursuant to RCW 28B.10.400, 28B.10.405, 28B.10.410, 28B.10.415, 28B.10.420, 28B.10.423 and *83.20.030 will be undertaken at such time and in such manner as determined by the committees on ways and means of the senate and of the house of representatives and the public pension commission, and joint contribution rates will be adjusted if necessary to accomplish this intent.

[1973 1st ex.s. c 149 § 8.]

Notes: *Reviser's note: RCW 83.20.030 was repealed by 1979 ex.s. c 209 § 54.

Severability -- Appropriation -- Effective date -- 1973 1st ex.s. c 149: See notes following RCW 28B.10.400.