Washington Code 49.64.030 – Employee benefit plans — Payment or refund as discharge — Adverse claims
Current as of: 2023 | Check for updates
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Notwithstanding the provisions of RCW 26.16.030, whenever payment or refund is made to an employee, former employee, or his or her beneficiary or estate pursuant to and in full compliance with a written retirement, death, or other employee benefit plan or savings plan, such payment or refund shall fully discharge the employer and any trustee or insurance company making such payment or refund from all adverse claims thereto unless, before such payment or refund is made, the employer or former employer, where the payment is made by the employer or former employer, has received at its principal place of business within this state, written notice by or on behalf of some other person that such other person claims to be entitled to such payment or refund or some part thereof, or where a trustee or insurance company is making the payment, such notice has been received by the trustee or insurance company at its home office or its principal place of business within this state, and if none, such notice may be made on the secretary of state: PROVIDED, HOWEVER, That nothing contained in this section shall affect any claim or right to any such payment or refund or part thereof as between all persons other than employer and the trustee or insurance company making such payment or refund.
[ 2010 c 8 § 12061; 1953 c 45 § 1. Formerly RCW 49.52.065.]
NOTES:
Employees’ benefit deductions are trust funds: RCW 49.52.010.
Terms Used In Washington Code 49.64.030
- 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
- 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
- Trustee: A person or institution holding and administering property in trust.