RCW 41.32.765
Retirement for service.
(1) NORMAL RETIREMENT. Any member with at least five service credit years of service who has attained at least age sixty-five shall be eligible to retire and to receive a retirement allowance computed according to the provisions of RCW 41.32.760.
(2) EARLY RETIREMENT. Any member who has completed at least twenty service credit years of service who has attained at least age fifty-five shall be eligible to retire and to receive a retirement allowance computed according to the provisions of RCW 41.32.760, except that a member retiring pursuant to this subsection shall have the retirement allowance actuarially reduced to reflect the difference in the number of years between age at retirement and the attainment of age sixty-five.
(3) ALTERNATE EARLY RETIREMENT.
(a) Any member who has completed at least thirty service credit years and has attained age fifty-five shall be eligible to retire and to receive a retirement allowance computed according to the provisions of RCW 41.32.760, except that a member retiring pursuant to this subsection shall have the retirement allowance reduced by three percent per year to reflect the difference in the number of years between age at retirement and the attainment of age sixty-five.
(b) On or after September 1, 2008, any member who has completed at least thirty service credit years and has attained age fifty-five shall be eligible to retire and to receive a retirement allowance computed according to the provisions of RCW 41.32.760, except that a member retiring pursuant to this subsection shall have the retirement allowance reduced as follows:
Retirement
Age
Percent
Reduction
55
20%
56
17%
57
14%
58
11%
59
8%
60
5%
61
2%
62
0%
63
0%
64
0%
Any member who retires under the provisions of this subsection is ineligible for the postretirement employment provisions of RCW 41.32.802(2) until the retired member has reached sixty-five years of age. For purposes of this subsection, employment with an employer also includes any personal service contract, service by an employer as a temporary or project employee, or any other similar compensated relationship with any employer included under the provisions of RCW 41.32.800(1).
The subsidized reductions for alternate early retirement in this subsection as set forth in section 2, chapter 491, Laws of 2007 were intended by the legislature as replacement benefits for gain-sharing. Until there is legal certainty with respect to the repeal of *chapter 41.31A RCW, the right to retire under this subsection is noncontractual, and the legislature reserves the right to amend or repeal this subsection. Legal certainty includes, but is not limited to, the expiration of any: Applicable limitations on actions; and periods of time for seeking appellate review, up to and including reconsideration by the Washington supreme court and the supreme court of the United States. Until that time, eligible members may still retire under this subsection, and upon receipt of the first installment of a retirement allowance computed under this subsection, the resulting benefit becomes contractual for the recipient. If the repeal of *chapter 41.31A RCW is held to be invalid in a final determination of a court of law, and the court orders reinstatement of gain-sharing or other alternate benefits as a remedy, then retirement benefits for any member who has completed at least thirty service credit years and has attained age fifty-five but has not yet received the first installment of a retirement allowance under this subsection shall be computed using the reductions in (a) of this subsection.
(c) Members who first become employed by an employer in an eligible position on or after May 1, 2013, are not eligible for the alternate early retirement provisions of (a) or (b) of this subsection. Any member who first becomes employed by an employer in an eligible position on or after May 1, 2013, and has completed at least thirty service credit years and has attained age fifty-five shall be eligible to retire and to receive a retirement allowance computed according to the provisions of RCW 41.32.760, except that a member retiring pursuant to this subsection shall have the retirement allowance reduced by five percent per year to reflect the difference in the number of years between age at retirement and the attainment of age sixty-five.
[ 2012 1st sp.s. c 7 § 1; 2007 c 491 § 2; 2000 c 247 § 902; 1991 c 343 § 5; 1977 ex.s. c 293 § 4.]
NOTES:
*Reviser's note: Chapter 41.31A RCW was repealed by 2007 c 491 § 13, effective January 2, 2008, however, RCW 41.31A.020 was also amended by 2007 c 491 § 1 and 2007 c 492 § 10. For rule of construction, see RCW 1.12.025(1).
Benefits not contractual right until September 1, 2008—2007 c 491: "The new benefits provided pursuant to sections 2(3)(b), 4(3)(b), 6(3)(b), and 8(3)(b), chapter 491, Laws of 2007 are not provided to employees as a matter of contractual right prior to September 1, 2008, and will not become a contractual right thereafter if the repeal of chapter 41.31A RCW is held to be invalid in a final determination of a court of law. The legislature retains the right to alter or abolish these benefits at any time prior to September 1, 2008." [ 2007 c 491 § 15.]
Severability—2007 c 491: "If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application of the provision to other persons or circumstances is not affected." [ 2007 c 491 § 18.]
Conflict with federal requirements—2007 c 491: "If any part of this act is found to be in conflict with a final determination by the federal internal revenue service that is a prescribed condition to favorable tax treatment of one or more of the retirement plans, the conflicting part of this act is inoperative solely to the extent of the conflict and with respect to the individual members directly affected. This finding does not affect the operation of the remainder of this act in its application to the members concerned. The legislature reserves the right to amend or repeal this act in the future as may be required to comply with a final federal determination that amendment or repeal is necessary to maintain the favorable tax treatment of a plan." [ 2007 c 491 § 14.]
Effective dates—Subchapter headings not law—2000 c 247: See RCW 41.40.931 and 41.40.932.
Findings—Effective dates—1991 c 343: See notes following RCW 41.50.005.
Effective date—Severability—Legislative direction and placement—Section headings—1977 ex.s. c 293: See notes following RCW 41.32.755.
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.