Section 41.26.530. Vested membership.

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(1) A member who separates or has separated after having completed at least five years of service may remain a member during the period of such member's absence from service for the exclusive purpose only of receiving a retirement allowance under the provisions of RCW 41.26.430 if such member maintains the member's accumulated contributions intact.

(2) The retirement allowance payable under the provisions of RCW 41.26.430 to a member who separates after having completed at least twenty years of service, and remains a member during the period of his or her absence from service by maintaining his or her accumulated contributions intact, shall be increased by twenty-five one-hundredths of one percent, compounded for each month from the date of separation to the date the retirement allowance commences as provided in RCW 41.26.490.

[ 1993 c 517 § 5; 1977 ex.s. c 294 § 14.]

NOTES:
Purpose—1993 c 517: See note following RCW 41.26.420.
Legislative direction and placement—Section headings—1977 ex.s. c 294: See notes following RCW 41.26.410.

1993 c 517 § 5; 1977 ex.s. c 294 § 14.

                    
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