Washington Code 41.40.620 – Computation of the retirement allowance
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A member of the retirement system shall receive a retirement allowance equal to two percent of such member’s average final compensation for each service credit year of service.
NOTES:
Findings—Effective dates—1991 c 343: See notes following RCW 41.50.005.
Legislative direction and placement—Section headings—1977 ex.s. c 295: See notes following RCW 41.40.610.
Terms Used In Washington Code 41.40.620
- Final compensation: means the annual rate of compensation earnable by a member at the time of termination of employment. 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
- Retirement: means withdrawal from active service with a retirement allowance as provided by this chapter. See Washington Code 41.40.010
- Retirement allowance: means the sum of the annuity and the pension. See Washington Code 41.40.010
- Service credit year: means an accumulation of months of service credit which is equal to one when divided by twelve. See Washington Code 41.40.010