Washington Code > Chapter 41.32 – Teachers’ retirement
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Terms Used In Washington Code > Chapter 41.32 - Teachers' retirement
- Actuarial equivalent: means a benefit of equal value when computed upon the basis of such mortality tables and regulations as shall be adopted by the director and regular interest. See Washington Code 41.32.010
- actuary: means the person appointed pursuant to RCW 44. See Washington Code 41.32.010
- Affirmed: In the practice of the appellate courts, the decree or order is declared valid and will stand as rendered in the lower court.
- 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.
- Annual increase: means , initially, fifty-nine cents per month per year of service which amount shall be increased each July 1st by three percent, rounded to the nearest cent. See Washington Code 41.32.010
- Annuity: means the moneys payable per year during life by reason of accumulated contributions of a member. See Washington Code 41.32.010
- 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.
- Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- 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
- Committee amendment: An amendment recommended by a committee in reporting a bill or other measure.
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- Contract: means any agreement for service and compensation between a member and an employer. See Washington Code 41.32.010
- 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 membership service plus prior service for which credit is allowable. See Washington Code 41.32.010
- Department: means the department of retirement systems created in chapter 41. See Washington Code 41.32.010
- Dependent: A person dependent for support upon another.
- Dependent: means receiving one-half or more of support from a member. See Washington Code 41.32.010
- Director: means the director of the department. See Washington Code 41.32.010
- Disability allowance: means monthly payments during disability. See Washington Code 41.32.010
- employee: means a person who is providing services for compensation to an employer, unless the person is free from the employer's direction and control over the performance of work. See Washington Code 41.32.010
- Employer: means the state of Washington, the school district, or any agency of the state of Washington by which the member is paid. See Washington Code 41.32.010
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Fiscal year: means a year which begins July 1st and ends June 30th of the following year. See Washington Code 41.32.010
- 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
- government contractor: is a ny entity, including a partnership, limited liability company, for-profit or nonprofit corporation, or person, that provides services pursuant to a contract with an employer. See Washington Code 41.32.010
- 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.
- Index: means , for any calendar year, that year's annual average consumer price index, Seattle, Washington area, for urban wage earners and clerical workers, all items compiled by the bureau of labor statistics, United States department of labor. See Washington Code 41.32.010
- instructional position: means a position in which more than seventy-five percent of the member's time is spent as a classroom instructor (including office hours), a librarian, a psychologist, a social worker, a nurse, a physical therapist, an occupational therapist, a speech language pathologist or audiologist, or a counselor. See Washington Code 41.32.010
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Member: means any teacher included in the membership of the retirement system who has not been removed from membership under RCW 41. See Washington Code 41.32.010
- Member reserve: means the fund in which all of the accumulated contributions of members are held. See Washington Code 41.32.010
- Membership service: means service rendered subsequent to the first day of eligibility of a person to membership in the retirement system: PROVIDED, That where a member is employed by two or more employers the individual shall receive no more than one service credit month during any calendar month in which multiple service is rendered. See Washington Code 41.32.010
- 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.
- Original bill: A bill which is drafted by a committee. It is introduced by the committee or subcommittee chairman after the committee votes to report it.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Pension: means the moneys payable per year during life from the pension reserve. See Washington Code 41.32.010
- Pension reserve: is a fund in which shall be accumulated an actuarial reserve adequate to meet present and future pension liabilities of the system and from which all pension obligations are to be paid. See Washington Code 41.32.010
- 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
- Prior service: means service rendered prior to the first date of eligibility to membership in the retirement system for which credit is allowable. See Washington Code 41.32.010
- Public school: means any institution or activity operated by the state of Washington or any instrumentality or political subdivision thereof employing teachers, except the University of Washington and Washington State University. See Washington Code 41.32.010
- Regular interest: means such rate as the director may determine. See Washington Code 41.32.010
- 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.
- Retiree: means any person who has begun accruing a retirement allowance or other benefit provided by this chapter resulting from service rendered to an employer while a member. See Washington Code 41.32.010
- Retirement system: means the Washington state teachers' retirement system. See Washington Code 41.32.010
- Service credit month: means a full service credit month or an accumulation of partial service credit months that are equal to one. See Washington Code 41.32.010
- Service credit year: means an accumulation of months of service credit which is equal to one when divided by twelve. See Washington Code 41.32.010
- 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.
- State elective position: means any position held by any person elected or appointed to statewide office or elected or appointed as a member of the legislature. See Washington Code 41.32.010
- Statute: A law passed by a legislature.
- Substitute teacher: means :
Washington Code 41.32.010Teacher: means any person qualified to teach who is engaged by a public school in an instructional, administrative, or supervisory capacity. See Washington Code 41.32.010