Revised Code of Washington
Chapter 41.45 - Actuarial Funding of State Retirement Systems.
41.45.067 - Failure of state or employer to make required contribution—Resulting increase in contribution rate borne in full by state or employer—Members' contribution deducted each payroll period.

RCW 41.45.067
Failure of state or employer to make required contribution—Resulting increase in contribution rate borne in full by state or employer—Members' contribution deducted each payroll period.

(1) Any increase in the contribution rate required as the result of a failure of the state or of an employer to make any contribution required by this section shall be borne in full by the state or by that employer not making the contribution.
(2) The director shall notify all employers of any pending adjustment in the required contribution rate and such pending adjustment in the required contribution rate and any increase shall be announced at least thirty days prior to the effective date of the change.
(3) Members' contributions required by RCW 41.45.060 and 41.45.061 shall be deducted from the members' compensation each payroll period. The members' contribution and the employers' contribution shall be remitted directly to the department within fifteen days following the end of the calendar month during which the payroll period ends.
(4) The state's contribution required for the law enforcement officers' and firefighters' retirement system plan 2 shall be transferred to the appropriate fund from the total contributions transferred by the state treasurer under RCW 41.45.050.

[ 2001 2nd sp.s. c 11 § 14; 2000 c 247 § 507.]
NOTES:

Effective date—2001 2nd sp.s. c 11: See note following RCW 41.45.010.


Effective dates—Subchapter headings not law—2000 c 247: See RCW 41.40.931 and 41.40.932.

Structure Revised Code of Washington

Revised Code of Washington

Title 41 - Public Employment, Civil Service, and Pensions

Chapter 41.45 - Actuarial Funding of State Retirement Systems.

41.45.010 - Intent—Goals.

41.45.020 - Definitions.

41.45.030 - State actuary to submit information on the experience and financial condition of each retirement system—Adoption of long-term economic assumptions.

41.45.035 - Long-term economic assumptions—Investment rate of return assumptions—Asset value smoothing technique.

41.45.050 - Contributions to be based on rates established in this chapter—Allocation formula for contributions.

41.45.060 - Basic state and employer contribution rates—Methods used—Role of council—Role of state actuary.

41.45.0604 - Contribution rates—Law enforcement officers' and firefighters' retirement system plan 2.

41.45.061 - Required contribution rates for plan 2 members.

41.45.062 - Annual contribution rate increases—Employer, state, and plan 2 members.

41.45.0621 - Plan 1 unfunded accrued actuarial liabilities—Contributions in addition to RCW 41.45.062—Intent.

41.45.0631 - Washington state patrol retirement system—Contribution rates—Allocation of costs.

41.45.067 - Failure of state or employer to make required contribution—Resulting increase in contribution rate borne in full by state or employer—Members' contribution deducted each payroll period.

41.45.070 - Supplemental rate.

41.45.080 - Additional contributions may be required.

41.45.090 - Collection of actuarial data.

41.45.100 - Pension funding council—Created.

41.45.110 - Pension funding council—Audits required—Select committee on pension policy.

41.45.120 - Pension funding work group.

41.45.130 - Public employees' retirement system plan 2 assets divided—Assets transferred to school employees' retirement system.

41.45.150 - Unfunded liabilities—Employer contribution rates.

41.45.155 - Certain plans 2 and 3 normal costs—Minimum basic employer contribution rates.

41.45.158 - Certain plans 2 and 3 normal costs—Minimum member contribution rates.

41.45.200 - Contribution rates for certain justices and judges—Public employees' retirement system.

41.45.203 - Contribution rates for certain justices and judges—Teachers' retirement system.

41.45.207 - Contribution rates for certain district or municipal court judges—Public employees' retirement system.

41.45.230 - Pension funding stabilization account—Creation.