41.32.835  <<  41.32.836 >>   41.32.837

Higher education facultyOption to transfer to plan 3Limitation on supplemental benefits under RCW 28B.10.400.

(1) All faculty members who are first employed by an institution of higher education in a position eligible for participation in old age annuities or retirement income plans under chapter 28B.10 RCW on or after July 1, 2011, have a period of thirty days to make an irrevocable choice to:
(a) Become a member of the teachers' retirement system plan 3 under this chapter; or
(b) Participate in the annuities or retirement income plan provided by the institution.
(2) At the end of thirty days, if the member has not made a choice to become a member of the teachers' retirement system, he or she becomes a participant in the institution's plan under RCW 28B.10.400, but does not become eligible for any supplemental benefit under RCW 28B.10.400(1)(c).


IntentEffective dates2011 1st sp.s. c 47: See notes following RCW 28B.10.400.
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