Washington Code > Chapter 41.40 – Washington public employees’ retirement system
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Terms Used In Washington Code > Chapter 41.40 - Washington public employees' retirement system
- Accumulated contributions: means the sum of all contributions standing to the credit of a member in the member's individual account, including any amount paid under RCW 41. See Washington Code 41.40.010
- Actuarial equivalent: means a benefit of equal value when computed upon the basis of such mortality and other tables as may be adopted by the director. See Washington Code 41.40.010
- actuary: means the person appointed pursuant to RCW 44. See Washington Code 41.40.010
- 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 41.40.010
- Annuity: means payments for life derived from accumulated contributions of a member. See Washington Code 41.40.010
- 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.
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- 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
- 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.
- 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.
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Department: means the department of retirement systems created in chapter 41. See Washington Code 41.40.010
- Director: means the director of the department. See Washington Code 41.40.010
- Eligible position: means :
Washington Code 41.40.010employed: 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 41.40.010 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 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. 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 41.40.010 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 41.40.010 Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Leave of absence: means the period of time a member is authorized by the employer to be absent from service without being separated from membership. See Washington Code 41.40.010 Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Member: means any employee included in the membership of the retirement system, as provided for in RCW 41. See Washington Code 41.40.010 Membership service: means :
Washington Code 41.40.010New member: means a person who becomes a member on or after April 1, 1949, except as otherwise provided in this section. See Washington Code 41.40.010 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. 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 payments for life derived from contributions made by the employer. See Washington Code 41.40.010 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 all service of an original member rendered to any employer prior to October 1, 1947. See Washington Code 41.40.010 Regular interest: means such rate as the director may determine. See Washington Code 41.40.010 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 41.40.010 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 Retirement system: means the public employees' retirement system provided for in this chapter. See Washington Code 41.40.010 Service credit month: means a month or an accumulation of months of service credit which is equal to one. 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 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 41.40.010 Statute: A law passed by a legislature. Totally incapacitated for duty: means total inability to perform the duties of a member's employment or office or any other work for which the member is qualified by training or experience. See Washington Code 41.40.010