RCW 41.32.497
Retirement allowance for members entering system before April 25, 1973—Election.
Any person who became a member on or before April 25, 1973 and who qualifies for a retirement allowance shall, at time of retirement, make an irrevocable election to receive either the retirement allowance by RCW 41.32.498 as now or hereafter amended or to receive a retirement allowance pursuant to this section consisting of: (1) An annuity which shall be the actuarial equivalent of his or her accumulated contributions at his or her age of retirement, (2) A basic service pension of one hundred dollars per annum, and (3) A service pension which shall be equal to one one-hundredth of his or her average earnable compensation for his or her two highest compensated consecutive years of service times the total years of creditable service established with the retirement system: PROVIDED, That no beneficiary now receiving benefits or who receives benefits in the future, except those beneficiaries receiving reduced benefits pursuant to RCW 41.32.520(1)(a) or 41.32.530, shall receive a pension of less than six dollars and fifty cents per month for each year of creditable service established with the retirement system. Pension benefits payable under the provisions of this section shall be prorated on a monthly basis and paid at the end of each month.
[ 2012 c 117 § 57; 1990 c 249 § 12; 1974 ex.s. c 199 § 3; 1973 1st ex.s. c 189 § 2; 1970 ex.s. c 35 § 3; 1969 ex.s. c 150 § 15; 1963 ex.s. c 14 § 16.]
NOTES:
Findings—1990 c 249: See note following RCW 2.10.146.
Emergency—Severability—Construction—1974 ex.s. c 199: See notes following RCW 41.32.010.
Severability—1973 1st ex.s. c 189: See note following RCW 41.50.215.
Parts of sections retroactive—1973 1st ex.s. c 189: See note following RCW 41.32.498.
Effective date—Severability—1970 ex.s. c 35: See notes following RCW 41.32.480.
Effective date—1969 ex.s. c 150: See note following RCW 41.50.200.
Savings—Severability—Effective date—1963 ex.s. c 14: See notes following RCW 41.32.010.
Structure Revised Code of Washington
Title 41 - Public Employment, Civil Service, and Pensions
Chapter 41.32 - Teachers' Retirement.
41.32.005 - Provisions applicable to "plan 1," "plan 2," and "plan 3."
41.32.012 - Construction—Chapter applicable to state registered domestic partnerships—2009 c 521.
41.32.013 - Substitute teachers—Application for service credit—Procedures.
41.32.025 - Department's power to determine eligibility.
41.32.032 - Membership in system—Service credit of educational staff associates.
41.32.033 - Membership in system—Charter school employers and employees.
41.32.035 - Employer contribution rates—Computation and payment.
41.32.042 - Validity of deductions—Interest.
41.32.044 - Retired teacher may reenter system—Benefit limitations.
41.32.053 - Death benefit—Course of employment—Occupational disease or infection.
41.32.054 - Disability retirement—Criminal conduct.
41.32.055 - Falsification—Penalty.
41.32.062 - Effect of certain accumulated vacation leave on retirement benefits.
41.32.063 - Benefit calculation—Limitation.
41.32.064 - Establishing, restoring service credit.
41.32.0641 - Disabled in the line of duty—Continuation of service credit—Conditions.
41.32.066 - Purchase of additional service credit—Costs—Rules.
41.32.067 - Purchase of additional benefits—Conditions.
41.32.215 - Provisions applicable to plan 1.
41.32.240 - Membership in system.
41.32.260 - Credit for military service or as state legislator.
41.32.263 - State legislators and state officials eligible for retirement benefits.
41.32.270 - Teaching service, how credited.
41.32.300 - Limitation on credit for out-of-state service.
41.32.310 - Time limit for claiming service credit—Payments.
41.32.330 - Credit for professional preparation subsequent to becoming teacher.
41.32.340 - Creditable service, what to consist of.
41.32.345 - "Earnable compensation" defined for certain part-time employees—Adoption of rules.
41.32.350 - Purchase of additional annuity—Member contribution rate.
41.32.380 - Source of pension reserve—Contributions.
41.32.390 - Contributions for prior service credits.
41.32.470 - Eligibility for retirement allowance.
41.32.480 - Qualifications for retirement.
41.32.4872 - Permanent increase for specified beneficiaries age seventy or over.
41.32.489 - Retirement allowance—Annual increases restricted after July 1, 2010—Eligibility.
41.32.4931 - Additional special pension for former members not receiving social security.
41.32.4945 - Limitation as to earnable compensation of member as member of the legislature.
41.32.497 - Retirement allowance for members entering system before April 25, 1973—Election.
41.32.4986 - Members with thirty years of service—Irrevocable election.
41.32.4991 - Permanent retirement allowance adjustment.
41.32.4992 - Monthly benefit increase.
41.32.500 - Termination of membership.
41.32.510 - Payment on withdrawal—Reentry.
41.32.530 - Options available—Retirement allowance adjustment—Court-approved property settlement.
41.32.540 - Disability allowance—Temporary.
41.32.550 - Options and allowances on report that disability will be permanent—Reexamination.
41.32.555 - Persons with annual half-time contracts—Eligibility for benefits under RCW 41.32.550.
41.32.570 - Postretirement employment—Reduction or suspension of pension payments.
41.32.584 - Additional benefit for justices or judges—One-time irrevocable election.
41.32.587 - Justices or judges retirement allowance—In lieu of RCW 41.32.498.
41.32.755 - Provisions applicable to plan 2.
41.32.760 - Computation of the retirement allowance.
41.32.762 - Lump sum retirement allowance—Reentry—Conditions for reinstatement of service.
41.32.765 - Retirement for service.
41.32.768 - Member with terminal illness—Removal from system.
41.32.770 - Post-retirement cost-of-living.
41.32.780 - Teachers required to be members.
41.32.790 - Earned disability allowance—Eligibility—Disposition upon death of recipient.
41.32.795 - Application for and effective date of retirement allowances.
41.32.812 - Service credit for half-time employment from October 1, 1977, through December 31, 1986.
41.32.813 - One-time purchase of service credit—Conditions—Payment—Rules.
41.32.815 - Vested membership.
41.32.817 - Transfer to plan 3—Irrevocable option.
41.32.820 - Refund of contributions on termination.
41.32.831 - Provisions applicable to plan 3—Plan 3 elements.
41.32.835 - Choice of membership in plan 2 or plan 3.
41.32.837 - Right to waive benefit—Irrevocable choice.
41.32.840 - Computation of the retirement allowance.
41.32.8401 - Additional payment.
41.32.845 - Postretirement cost-of-living allowance.
41.32.851 - Options for payment of retirement allowances—Court-approved property settlement.
41.32.855 - Application for and effective date of retirement allowances.
41.32.867 - Purchased service credit—Allocation.
41.32.868 - One-time purchase of service credit—Conditions—Payment—Rules.
41.32.870 - Lump sum payments—Reentry.
41.32.875 - Retirement eligibility.
41.32.878 - Member with terminal illness—Removal from system.
41.32.880 - Earned disability allowance—Eligibility—Disposition upon death of recipient.
41.32.892 - Restored, purchased service credit under plan 2—Transfer to plan 3.