Except as qualified by RCW 41.40.023, for employers that were admitted into the retirement system before July 23, 1995, membership service may be established for the employer’s former employees who are active members of the system if the member or member’s former employer pays an amount equal to the employer and member contributions which would have been paid to the retirement system on account of such service to the retirement system. Payment shall be made prior to the retirement of such member.

Terms Used In Washington Code 41.40.056

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Annuity: means payments for life derived from accumulated contributions of a member. See Washington Code 41.40.010
  • Director: means the director of the department. See Washington Code 41.40.010
  • Member: means any employee included in the membership of the retirement system, as provided for in RCW 41. See Washington Code 41.40.010
  • Membership service: means :
Washington Code 41.40.010
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Retirement: means withdrawal from active service with a retirement allowance as provided by this chapter. See Washington Code 41.40.010
  • Retirement system: means the public employees' retirement system provided for in this chapter. See Washington Code 41.40.010
    • Payments submitted by the member under this section shall be placed in the member’s individual account in the members’ savings fund and be treated as any other contribution made by the member, with the exception that the contributions submitted by the member in payment of the employer’s obligation, together with the interest the director may apply to the employer’s contribution, shall be excluded from the calculation of the member’s annuity in the event the member selects a benefit with an annuity option.
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