§ 28B.10.423. Annuities and retirement income plans -- Limit on retirement income -- Adjustment of rates
It is the intent of RCW 28B.10.400, 28B.10.405, 28B.10.410, 28B.10.415, 28B.10.420, 28B.10.423 and 83.20.030 that the retirement income resulting from the contributions described herein from the state of Washington and the employee shall be projected actuarially so that it shall not exceed sixty percent of the average of the highest two consecutive years salary. Periodic review of the retirement systems established pursuant to RCW 28B.10.400, 28B.10.405, 28B.10.410, 28B.10.415, 28B.10.420, 28B.10.423 and *83.20.030 will be undertaken at such time and in such manner as determined by the committees on ways and means of the senate and of the house of representatives and the public pension commission, and joint contribution rates will be adjusted if necessary to accomplish this intent.
[1973 1st ex.s. c 149 § 8.]
Notes:
*Reviser's note: RCW 83.20.030 was repealed by 1979 ex.s. c 209 § 54.
Severability -- Appropriation -- Effective date -- 1973 1st ex.s. c 149: See notes following RCW 28B.10.400.
Sections: Previous 28B.10.405 28B.10.407 28B.10.409 28B.10.410 28B.10.415 28B.10.417 28B.10.420 28B.10.423 28B.10.425 28B.10.430 28B.10.431 28B.10.480 28B.10.485 28B.10.487 28B.10.500 Next
Last modified: April 7, 2009