RCW 28B.10.430
Annuities and retirement income plans—Minimum monthly benefit—Computation.
(1) This section applies only to those persons who are first employed by an institution of higher education in a position eligible for participation in an old age annuities or retirement income plan under this chapter prior to July 1, 2011.
(2) For any person receiving a monthly benefit pursuant to a program established under RCW 28B.10.400, the pension portion of such benefit shall be the sum of the following amounts:
(a) One-half of the monthly benefit payable under such program by a life insurance company; and
(b) The monthly equivalent of the supplemental benefit described in RCW 28B.10.400(1)(c).
(3) Notwithstanding any provision of law to the contrary, effective July 1, 1979, no person receiving a monthly benefit pursuant to RCW 28B.10.400 shall receive, as the pension portion of that benefit, less than ten dollars per month for each year of service creditable to the person whose service is the basis of the benefit. Portions of a year shall be treated as fractions of a year and the decimal equivalent shall be multiplied by ten dollars. Where the benefit was adjusted at the time benefit payments to the beneficiary commenced, the minimum pension provided in this section shall be adjusted in a manner consistent with that adjustment.
(4) Notwithstanding any provision of law to the contrary, effective July 1, 1979, the monthly benefit of each person who commenced receiving a monthly benefit under this chapter as of a date no later than July 1, 1974, shall be permanently increased by a post-retirement adjustment. Such adjustment shall be calculated as follows:
(a) Monthly benefits to which this subsection and subsection (3) of this section are both applicable shall be determined by first applying subsection (3) of this section and then applying this subsection. The institution shall determine the total years of creditable service and the total dollar benefit base accrued as of December 31, 1978, except that this determination shall take into account only those persons to whom this subsection applies;
(b) The institution shall multiply the total benefits determined in (a) of this subsection by six percent and divide the dollar value thus determined by the total service determined in (a) of this subsection. The resultant figure shall then be a post-retirement increase factor which shall be applied as specified in (c) of this subsection;
(c) Each person to whom this subsection applies shall receive an increase which is the product of the factor determined in (b) of this subsection multiplied by the years of creditable service.
[ 2011 1st sp.s. c 47 § 8; 1979 ex.s. c 96 § 5.]
NOTES:
Intent—Effective dates—2011 1st sp.s. c 47: See notes following RCW 28B.10.400.
Structure Revised Code of Washington
Chapter 28B.10 - Colleges and Universities Generally.
28B.10.017 - "Eligible student" defined.
28B.10.019 - Electronic signatures.
28B.10.020 - Acquisition of property by universities and The Evergreen State College.
28B.10.022 - Authority to enter into financing contracts—Notice.
28B.10.024 - Awards of procurement contracts to veteran-owned businesses.
28B.10.025 - Purchases of works of art—Procedure.
28B.10.0291 - Savings report—2012 c 230.
28B.10.030 - Display of United States flag.
28B.10.031 - Check cashing privileges.
28B.10.033 - Teacher preparation programs.
28B.10.034 - Central Washington University—Student teacher remote supervision.
28B.10.035 - Concurrent enrollment program accreditation.
28B.10.037 - Student expression in school-sponsored media.
28B.10.040 - Higher educational institutions to be nonsectarian.
28B.10.042 - Personal identifiers—Use of social security numbers prohibited.
28B.10.0421 - Personal identifiers—Funding.
28B.10.050 - Entrance requirements exceeding minimum requirements.
28B.10.057 - Academic credit for military training.
28B.10.100 - "Major line" defined.
28B.10.105 - Courses exclusive to the University of Washington.
28B.10.106 - Courses exclusive to Washington State University.
28B.10.115 - Major lines common to University of Washington and Washington State University.
28B.10.118 - Accelerated baccalaureate degree programs—Approval.
28B.10.140 - Teachers' training courses.
28B.10.145 - Diversity, equity, inclusion, and antiracism—Professional development.
28B.10.147 - Diversity, equity, inclusion, and antiracism—Campus climate assessment.
28B.10.149 - Diversity, equity, inclusion, and antiracism—Program for students.
28B.10.151 - Diversity, equity, inclusion, and antiracism—Reports.
28B.10.170 - College and university fees.
28B.10.280 - Student loans—Federal student aid programs.
28B.10.281 - Student loans—Certain activities may make student ineligible for aid.
28B.10.284 - Uniform minor student capacity to borrow act.
28B.10.287 - Postsecondary institution financial aid disbursement by third party.
28B.10.293 - Collection of debts—Conditions and limitations on institutions of higher education.
28B.10.294 - Collection of debts—Report.
28B.10.295 - Educational materials on abuses of, and illnesses consequent from, alcohol.
28B.10.335 - Validation of prior bond issues.
28B.10.354 - High-performance public buildings requirements.
28B.10.400 - Annuities and retirement income plans—Authorized.
28B.10.405 - Annuities and retirement income plans—Contributions by faculty and employees.
28B.10.409 - Annuities and retirement income plans—Membership while serving as state legislator.
28B.10.410 - Annuities and retirement income plans—Limitation on institution's contribution.
28B.10.425 - Additional pension for certain retired university faculty members or employees.
28B.10.430 - Annuities and retirement income plans—Minimum monthly benefit—Computation.
28B.10.480 - Tax deferred annuities for employees.
28B.10.500 - Removal of regents or trustees from universities and The Evergreen State College.
28B.10.510 - Attorney general as advisor.
28B.10.520 - Regents and trustees—Oaths.
28B.10.525 - Regents and trustees—Travel expenses.
28B.10.528 - Delegation of powers and duties by governing boards.
28B.10.550 - Police forces for universities and The Evergreen State College—Authorized.
28B.10.555 - Police forces for universities and The Evergreen State College—Powers.
28B.10.572 - Certain unlawful acts—Disciplinary authority exception.
28B.10.580 - Term papers, theses, dissertations, sale of prohibited—Legislative findings—Purpose.
28B.10.582 - Term papers, theses, dissertations, sale of prohibited—Definitions.
28B.10.590 - Course materials—Cost savings—Online course descriptions.
28B.10.592 - College textbook information—Publishers' duties.
28B.10.618 - Credit card marketing policies.
28B.10.631 - Bridge-funding programs—Establishment and administration.
28B.10.665 - Liability insurance for officers and employees authorized.
28B.10.679 - Washington mathematics placement test.
28B.10.680 - Precollege coursework—Findings—Intent.
28B.10.685 - Precollege coursework—Enrollment information—Report.
28B.10.690 - Graduation rate improvement—Findings.
28B.10.691 - Graduation rate improvement—Strategic plans—Adoption of strategies.
28B.10.693 - Graduation rate improvement—Student progression understandings.
28B.10.695 - Timely completion of degree and certificate programs—Adoption of policies.
28B.10.698 - Schools of medicine—Health equity curriculum.
28B.10.699 - Schools of medicine—Underrepresented students—Report.
28B.10.700 - Physical education in curriculum.
28B.10.703 - Programs for intercollegiate athletic competition—Authorized.
28B.10.708 - Graduation ceremonies—Tribal regalia.
28B.10.710 - Washington state or Pacific Northwest history in curriculum.
28B.10.730 - AIDS information—Four-year institutions.
28B.10.735 - Suicide prevention—Identification cards.
28B.10.776 - Budget calculation—Enrollment levels—Participation rate.
28B.10.778 - Budget calculation—New enrollments—Funding level—Inflation factor.
28B.10.780 - Budget calculation—Funding level.
28B.10.782 - Budget calculation—Increased enrollment target level—Availability of information.
28B.10.786 - Budget calculation—Student financial aid programs.
28B.10.825 - Institutional student loan fund for needy students.
28B.10.840 - Definitions for purposes of RCW 28B.10.840 through 28B.10.844.
28B.10.846 - Report of child abuse or neglect—Reporting responsibilities.
28B.10.878 - G. Robert Ross distinguished faculty award.
28B.10.890 - Collegiate license plate fund—Scholarships.
28B.10.900 - "Hazing" defined.
28B.10.901 - Hazing prohibited—Penalty.
28B.10.904 - Hazing—Code of conduct—Educational program.
28B.10.905 - Hazing—Prevention committee.
28B.10.906 - Hazing—Report of violations.
28B.10.907 - Hazing—Prevention education—Incident reporting.
28B.10.908 - Hazing—Social fraternity and sorority organizations.
28B.10.910 - Students with disabilities—Core services.
28B.10.912 - Students with disabilities—Core services described—Notice of nondiscrimination.
28B.10.914 - Students with disabilities—Accommodation.
28B.10.916 - Supplemental instructional materials for students with print access disability.
28B.10.918 - Disability history month—Activities.
28B.10.926 - Transfer of ownership of institution-owned vessel—Further requirements.
28B.10.930 - Comprehensive cancer care collaborative arrangements—Nonstate entity.
28B.10.980 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.