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28B.10.431 Annuities and retirement income plans—Monthly benefit—Post-retirement adjustment—Computation.

WA Rev Code § 28B.10.431 (2019) (N/A)
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RCW 28B.10.431 Annuities and retirement income plans—Monthly benefit—Post-retirement adjustment—Computation.

Notwithstanding any provision of law to the contrary, effective July 1, 1983, the monthly benefit of each person who either is receiving a benefit pursuant to a program established under RCW 28B.10.400 for their service as of July 1, 1978, or commenced receiving a monthly benefit as a surviving spouse or written designated beneficiary with an insurable interest in the retiree as of a date no later than December 31, 1982, shall be permanently increased by a post-retirement adjustment of $.74 per month for each year of creditable service the faculty member or employee established with the annuity or retirement income plan. Any fraction of a year of service shall be counted in the computation of the post-retirement adjustment.

[ 1983 1st ex.s. c 56 § 2.]

NOTES:

Effective date—1983 1st ex.s. c 56: See note following RCW 2.12.046.

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