§ 41.26.530. Vested membership
(1) A member who separates or has separated after having completed at least five years of service may remain a member during the period of such member's absence from service for the exclusive purpose only of receiving a retirement allowance under the provisions of RCW 41.26.430 if such member maintains the member's accumulated contributions intact.
(2) The retirement allowance payable under the provisions of RCW 41.26.430 to a member who separates after having completed at least twenty years of service, and remains a member during the period of his or her absence from service by maintaining his or her accumulated contributions intact, shall be increased by twenty-five one-hundredths of one percent, compounded for each month from the date of separation to the date the retirement allowance commences as provided in RCW 41.26.490.
[1993 c 517 § 5; 1977 ex.s. c 294 § 14.]
Notes:
Purpose -- 1993 c 517: See note following RCW 41.26.420.
Legislative direction and placement -- Section headings -- 1977 ex.s. c 294: See notes following RCW 41.26.410.
Sections: Previous 41.26.470 41.26.473 41.26.480 41.26.490 41.26.500 41.26.510 41.26.520 41.26.530 41.26.540 41.26.547 41.26.550 41.26.700 41.26.705 41.26.710 41.26.715 Next
Last modified: April 7, 2009