2005 Washington Revised Code RCW 41.32.831: Provisions applicable to plan 3 — Plan 3 elements.
(1) RCW
41.32.831 through
41.32.895 shall apply only to plan 3 members.
(2) Plan 3 shall consist of two separate elements: (a) A defined benefit portion covered under this subchapter; and (b) a defined contribution portion covered under chapter
41.34 RCW.
(3) Unless otherwise specified, all references to "plan 3" in this subchapter refer to the defined benefit portion of plan 3.
[1996 c 39 § 10; 1995 c 239 § 104.]
Effective dates -- 1996 c 39: See note following RCW
41.32.010.
Intent -- Purpose -- 1995 c 239: "The legislature recognizes that teachers, principals, and district administrators need the ability to make transitions to other public or private sector careers, and that the retirement system should not be a barrier to exercise of employee choice. The legislature also recognizes that teachers, principals, and district administrators need a secure and viable retirement benefit, not only for their own financial protection, but also that public funds are spent prudently for their intended purpose.
Effective date -- Part and subchapter headings not law -- 1995 c 239: See notes following RCW 41.32.005.
Benefits not contractual right until date specified: RCW 41.34.100. |
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