Washington Code 41.45.061 – Required contribution rates for plan 2 members
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(1) The required contribution rate for members of the plan 2 teachers’ retirement system shall be fixed at the rates in effect on July 1, 1996, subject to the following:
Terms Used In Washington Code 41.45.061
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Department: means the department of retirement systems. See Washington Code 41.45.020
- Legislative session: That part of a chamber's daily session in which it considers legislative business (bills, resolutions, and actions related thereto).
- state actuary: means the state actuary employed under chapter 44. See Washington Code 41.45.020
(a) Beginning September 1, 1997, except as provided in (b) of this subsection, the employee contribution rate shall not exceed the employer plan 2 and 3 rates adopted under RCW 41.45.060, * 41.45.054, and 41.45.070 for the teachers’ retirement system;
(b) In addition, the employee contribution rate for plan 2 shall be increased by fifty percent of the contribution rate increase caused by any plan 2 benefit increase passed after July 1, 1996;
(c) In addition, the employee contribution rate for plan 2 shall not be increased as a result of any distributions pursuant to section 309, chapter 341, Laws of 1998 and **RCW 41.31A.020.
(2) The required contribution rate for members of the school employees’ retirement system plan 2 shall equal the school employees’ retirement system employer plan 2 and 3 contribution rate adopted under RCW 41.45.060, * 41.45.054, and 41.45.070, except as provided in subsection (3) of this section.
(3) The member contribution rate for the school employees’ retirement system plan 2 shall be increased by fifty percent of the contribution rate increase caused by any plan 2 benefit increase passed after September 1, 2000.
(4) The required contribution rate for members of the public employees’ retirement system plan 2 shall be set at the same rate as the employer combined plan 2 and plan 3 rate.
(5) The required contribution rate for members of the law enforcement officers’ and firefighters’ retirement system plan 2 shall be set at fifty percent of the cost of the retirement system.
(6) The employee contribution rates for plan 2 under subsections (3) and (4) of this section shall not include any increase as a result of any distributions pursuant to RCW ** 41.31A.020 and *** 41.31A.030.
(7) The required plan 2 and 3 contribution rates for employers shall be adopted in the manner described in RCW 41.45.060, * 41.45.054, and 41.45.070.
(8) The required contribution rate for members of the public safety employees’ retirement system plan 2 shall be set at fifty percent of the cost of the retirement system.
(9) Concurrently with the adoption of employer contribution rates, the state actuary shall calculate the required contribution rates for plan 2 members, which are fixed in accordance with this section. Upon adoption of employer contribution rates, the state actuary shall immediately notify the directors of the office of financial management and department of retirement systems of the required contribution rates for members, which shall be effective for the ensuing rate-setting period.
[ 2007 c 280 § 4; 2004 c 242 § 40. Prior: 2001 2nd sp.s. c 11 § 13; 2001 2nd sp.s. c 11 § 12; 2001 c 180 § 1; prior: 2000 c 247 § 506; 2000 c 230 § 2; 1998 c 341 § 405; 1997 c 10 § 2; 1995 c 239 § 311.]
NOTES:
Reviser’s note: *(1) RCW 41.45.054 was decodified pursuant to 2005 c 370 § 5, effective September 1, 2005.
**(2) RCW 41.31A.020 was repealed by 2007 c 491 § 13 without cognizance of its amendment by 2007 c 491 § 1. For rule of construction concerning sections amended and repealed in the same legislative session, see RCW 1.12.025.
***(3) RCW 41.31A.030 was repealed by 2007 c 491 § 13, effective January 2, 2008.
Effective date—2004 c 242: See RCW 41.37.901.
Effective date—2001 2nd sp.s. c 11: See note following RCW 41.45.030.
Effective date—2001 2nd sp.s. c 11: See note following RCW 41.45.010.
Effective date—2001 c 180 §§ 1 and 2: “Sections 1 and 2 of this act take effect March 1, 2002.” [ 2001 c 180 § 6.]
Effective date—2000 c 230: See note following RCW 41.35.630.
Effective date—1998 c 341: See RCW 41.35.901.
Intent—Purpose—1995 c 239: See note following RCW 41.32.831.
Effective date—Part and subchapter headings not law—1995 c 239: See notes following RCW 41.32.005.