Terms Used In Washington Code > Chapter 41.44 - Statewide city employees' retirement

• Accumulated additional contributions: means the sum of all "additional contributions" made by a member standing to the credit of the individual account, together with regular interest thereon. See Washington Code 41.44.030
• Accumulated normal contributions: means the sum of all normal contributions, deducted from the compensation of a member, standing to the credit of his or her individual account, together with regular interest thereon. See Washington Code 41.44.030
• Actuarial equivalent: means a benefit of equal value when computed at regular interest upon the basis of such mortality tables as shall be adopted by the board of trustees. See Washington Code 41.44.030
• Additional contributions: means contributions made pursuant to subsection (6) of RCW 41. See Washington Code 41.44.030
• 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 derived from contributions made by a member as provided herein. See Washington Code 41.44.030
• Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beneficiary: means any person in receipt of a pension, annuity, retirement allowance, disability allowance, or any other benefit herein. See Washington Code 41.44.030
• Board: means the "board of trustees" provided for herein. See Washington Code 41.44.030
• cities: includes town or towns. See Washington Code 41.44.030
• Compensation: means the compensation payable in cash, plus the monetary value, as determined by the board of trustees, of any allowance in lieu thereof (but for the purposes of this chapter such "compensation" shall not exceed three hundred dollars per month, except as to those employees of any member city the legislative body of which shall not later than July 1, 1953, have irrevocably elected by resolution or ordinance to increase the limitation herein contained, effective as to all of its employees, from three hundred dollars to four hundred dollars, commencing on said date, or which shall so elect prior to January 1st of any succeeding year, effective as of January 1st of any such succeeding year, and as to such employees shall, commencing on the specified date, not exceed four hundred dollars or an amount equal to such increased limitation established by such ordinance or resolution per month): PROVIDED HOWEVER, That the foregoing limitation shall not apply to uniformed personnel. See Washington Code 41.44.030
• Compensation earnable: means the full rate of compensation that would be payable to an employee if he or she worked the full normal working time (but for the purposes of this chapter, such "compensation earnable" shall not exceed three hundred dollars per month, except as to those employees of any member city the legislative body of which shall not later than July 1, 1953, have irrevocably elected by resolution or ordinance to increase the limitation herein contained, effective as to all of its employees, from three hundred dollars to four hundred dollars, commencing on said date, or which shall so elect prior to January 1st of any succeeding year, effective as of January 1st of any such succeeding year, and as to such employees shall, commencing on the specified date, not exceed four hundred dollars or an amount equal to such increased limitation established by such ordinance or resolution per month): PROVIDED, HOWEVER, That the foregoing limitation shall not apply to uniformed personnel: PROVIDED FURTHER, That after January 1, 1968 this term shall mean the full rate of compensation payable to an employee if he or she worked the full normal working time. See Washington Code 41.44.030
• Contract: A legal written agreement that becomes binding when signed.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Creditable service: means such service as is evidenced by the record of normal contributions, plus prior service as evidenced by prior service certificate. See Washington Code 41.44.030
• Current service: means service after the employee has become a member of the system. See Washington Code 41.44.030
• Effective date: when used with regard to employees means the date on which any individual or group of employees became members of any retirement system and when used with regard to any city or town shall mean the date on which it became a participant. See Washington Code 41.44.030
• Employee: means any appointive officer or employee and shall include elective officials to the extent specified herein. See Washington Code 41.44.030
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Ex officio: Literally, by virtue of one's office.
• Excess interest income: means that interest income earned and received from investments in excess of the interest income on investments required to meet actuarial funding requirements. See Washington Code 41.44.030
• Final compensation: means the highest average annual compensation earnable in any five consecutive years of actual service rendered during the ten years immediately preceding retirement, or where the employee has less than five consecutive years of actual service, the earnable compensation for the last five years preceding his or her retirement. See Washington Code 41.44.030
• Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
• Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Member: means any person included in the membership of the retirement system as provided herein. See Washington Code 41.44.030
• Miscellaneous personnel: means officers and employees other than those in the uniformed police or fire service: PROVIDED, Those members of the fire department who are ineligible to the benefits of a firefighters' pension system established by or pursuant to any other state law, are also included in the miscellaneous personnel. See Washington Code 41.44.030
• National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. ^{Source: OCC}
• Normal contributions: means the contributions at the rate provided for in RCW 41. See Washington Code 41.44.030
• Oath: A promise to tell the truth.
• 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.
• Part time employees: means those employees who, although regularly and continuously employed, do not regularly perform their duties the full number of hours required of other regular employees, including but not confined to such employees as police judges, city attorneys, and other officers and employees who are also engaged in outside employment or occupations. See Washington Code 41.44.030
• Pension: means payments derived from contributions made by the city as provided herein. See Washington Code 41.44.030
• person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080
• Persons having an insurable interest in his or her life: means and includes only such persons who, because of relationship from ties of blood or marriage, have reason to expect some benefit from the continuation of the life of the member. See Washington Code 41.44.030
• Prior service: means the service of a member for compensation rendered a city prior to the effective date and shall include service in the armed forces of the United States to the extent specified herein and service specified in RCW 41. See Washington Code 41.44.030
• Quorum: The number of legislators that must be present to do business.
• Regular interest: means interest compounded annually at such rate as shall have been adopted by the board of trustees in accordance with the provisions of this chapter. See Washington Code 41.44.030
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Retirement allowance: means the pension plus annuity. See Washington Code 41.44.030
• Retirement fund: means "statewide city employees retirement fund" provided for herein. See Washington Code 41.44.030
• Retirement system: means the statewide city employees retirement system provided for herein. See Washington Code 41.44.030
• Service: means service rendered to a city for compensation; and for the purpose of this chapter a member shall be considered as being in service only while he or she is receiving compensation from the city for such service or is on leave granted for service in the armed forces of the United States as contemplated in RCW 41. See Washington Code 41.44.030
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• Statute: A law passed by a legislature.
• Uniformed personnel: means any employee who is a police officer in service or who is subject to call to active service or duty as such. See Washington Code 41.44.030