Washington Code 41.26.530 – Vested membership
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(1) A member who separates or has separated after having completed at least five years of service may remain a member during the period of such member’s absence from service for the exclusive purpose only of receiving a retirement allowance under the provisions of RCW 41.26.430 if such member maintains the member’s accumulated contributions intact.
Terms Used In Washington Code 41.26.530
- Accumulated contributions: means the employee's contributions made by a member, including any amount paid under RCW 41. See Washington Code 41.26.030
- Member: means any firefighter, law enforcement officer, or other person as would apply under subsection (17) or (19) of this section whose membership is transferred to the Washington law enforcement officers' and firefighters' retirement system on or after March 1, 1970, and every law enforcement officer and firefighter who is employed in that capacity on or after such date. See Washington Code 41.26.030
(2) The retirement allowance payable under the provisions of RCW 41.26.430 to a member who separates after having completed at least twenty years of service, and remains a member during the period of his or her absence from service by maintaining his or her accumulated contributions intact, shall be increased by twenty-five one-hundredths of one percent, compounded for each month from the date of separation to the date the retirement allowance commences as provided in RCW 41.26.490.
NOTES:
Purpose—1993 c 517: See note following RCW 41.26.420.
Legislative direction and placement—Section headings—1977 ex.s. c 294: See notes following RCW 41.26.410.