Section 41.32.840. Computation of the retirement allowance.

Latest version.

(1) A member of the retirement system shall receive a retirement allowance equal to one percent of such member's average final compensation for each service credit year.

(2) The retirement allowance payable under RCW 41.32.875 to a member who separates after having completed at least twenty service credit years shall be increased by twenty-five one-hundredths of one percent, compounded for each month from the date of separation to the date that the retirement allowance commences.

[ 1996 c 39 § 4; 1995 c 239 § 106.]

NOTES:
Effective dates—1996 c 39: See note following RCW 41.32.010.
Intent—Purpose—1995 c 239: See note following RCW 41.32.831.
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.

1996 c 39 § 4; 1995 c 239 § 106.

                    
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