41.35.630 - Additional payment. - Washington Statutes

Additional payment.

(1) Anyone who requests to transfer under RCW 41.35.510 before March 1, 2001, and establishes service credit for January 2001, shall have their member account increased by one hundred thirty percent of:

     (a) The member's public employees' retirement system plan 2 accumulated contributions as of January 1, 2000, less fifty percent of any payments made pursuant to RCW 41.50.165(2); or

     (b) All amounts withdrawn after January 1, 2000, which are completely restored before March 1, 2001.

     (2) If a member who requests to transfer dies before January 1, 2001, the additional payment provided by this section shall be paid to the member's estate, or the person or persons, trust, or organization the member nominated by written designation duly executed and filed with the department.

     (3) The legislature reserves the right to modify or discontinue the right to an additional payment under this section for any plan 2 members who have not previously transferred to plan 3.

[2000 c 230 § 1; 1998 c 341 § 204.]

Notes: Effective date -- 2000 c 230: "This act takes effect September 1, 2000." [2000 c 230 § 5.]