Higher education employees — Option to transfer to plan 3 — Limitation on supplemental benefits under RCW 28B.10.400.
(1) All employees who are not qualified under RCW 41.32.836 and 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 RCW 28B.10.400 on or after July 1, 2011, have a period of thirty days to make an irrevocable choice to:
(a) Become a member of the public employees' 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 public employees' 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).
[2011 1st sp.s. c 47 § 18.]
| Intent -- Effective dates -- 2011 1st sp.s. c 47: See notes following RCW 28B.10.400.|