WA People
BILL · 2003–04 SESSION

HB 2535: Service credit purchase

Permitting members of the public employees' retirement system plan 2 and plan 3 and the school employees' retirement system plan 2 and plan 3 who qualify for early retirement or alternate early retirement to make a one-time purchase of additional service credit.

Summary

  • Permits members of the Public Employees' Retirement System and the School Employees' Retirement System Plans 2 and 3 to purchase up to 5 years of service credit.
  • The service credit may be purchased at time of early retirement at full actuarial cost.
  • A member purchasing service may pay all or part of the cost with a transfer from an eligible retirement account.

From the House Bill Analysis (HB 2535), written by the Legislature's nonpartisan staff. Read the full report ↗

Enacted Enacted · Chapter 172, Laws of 2004
  1. IntroducedJan 15, 2004
  2. Out of committeeJan 28, 2004
  3. Passed HouseFeb 11, 2004
  4. Passed SenateMar 5, 2004
  5. GovernorMar 26, 2004
  6. LawMar 26, 2004
Prime sponsor
Gary Alexander (R-20)
Introduced
January 15, 2004 in the House
Last action
March 26, 2004
Session law
Chapter 172, Laws of 2004
Requested by
Other
Companion bill
SB 6251
Budget
Has a fiscal note

AN ACT Relating to permitting members of the public employees' retirement system plan 2 and plan 3 and the school employees' retirement system plan 2 and plan 3 who qualify for early retirement or alternate early retirement to make a one-time purchase of additional service credit;

Sponsors

Prime sponsor: Gary Alexander (R-20)

9 co-sponsors (7 Democrats, 2 Republicans)

Bill Fromhold D-49Steve Conway D-29Phil Rockefeller D-23Geoff Simpson D-47Lynn Kessler D-24Jim Moeller D-49Maralyn Chase D-32Roger Bush R-2Mike Armstrong R-12

Votes

House · Final Passage

Passed February 11, 2004
Version voted on: HB 2535
94 Yea 0 Nay 0 Absent 4 Excused
PartyYeaNayAbsentExcused
Democrat50002
Republican44002
How each member voted

Yea (94)

Permalink to this vote

Senate · 3rd Reading & Final Passage

Passed March 5, 2004
Version voted on: HB 2535
47 Yea 0 Nay 1 Absent 1 Excused
PartyYeaNayAbsentExcused
Democrat24000
Republican23011
How each member voted

Yea (47)

Absent (1)

Excused (1)

Permalink to this vote

History

  1. Effective date 7/1/2006.
  2. Chapter 172, 2004 Laws.
  3. Governor signed.
  4. Delivered to Governor.
  5. President signed.
  6. Speaker signed.
  7. Third reading, passed; yeas, 47; nays, 0; absent, 1; excused, 1.
  8. Rules suspended. Placed on Third Reading.
  9. Placed on second reading by Rules Committee.
  10. Made eligible to be placed on second reading.
  11. WM - Majority; do pass.
  12. Passed to Rules Committee for second reading.
  13. First reading, referred to Ways & Means.
  14. Third reading, passed; yeas, 94; nays, 0; absent, 0; excused, 4.
  15. Placed on third reading.
  16. Committee recommendations adopted.
  17. Placed on second reading suspension calendar by Rules Committee.
  18. Passed to Rules Committee for second reading.
  19. APP - Majority; do pass.
  20. APP - Executive action taken by committee.
  21. First reading, referred to Appropriations.

HB 2535 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

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