WA People
BILL · 2003–04 SESSION · LATEST VERSION SSB 6251

SB 6251: Service credit purchase

Permitting members of the public employees' retirement system plan 2 and plan 3, the school employees' retirement system plan 2 and plan 3, and the teachers' 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

  • Members of Plans 2 or 3 of PERS, TRS or SERS who are eligible for early retirement are allowed to purchase up to five years of additional service credit at the time of retirement. Additional service credit purchased in this way is used in the calculation of retirement benefits, and the portion of a member's retirement benefit that results from this purchased credit is not subject to an early retirement reduction.

From the Senate Bill Report (SB 6251), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the Senate floor
  1. IntroducedJan 15, 2004
  2. Out of committeeFeb 10, 2004
  3. Passed Senatestopped here
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Shirley Winsley (R-28)
Introduced
January 15, 2004 in the Senate
Last action
February 25, 2004
Requested by
Other
Companion bill
HB 2535
Budget
Has a fiscal note
Versions
SB 6251, SSB 6251

AN ACT Relating to permitting members of the public employees' retirement system plan 2 and plan 3, the school employees' retirement system plan 2 and plan 3, and the teachers' 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: Shirley Winsley (R-28)

2 co-sponsors (2 Democrats, 0 Republicans)

Debbie Regala D-27Karen Fraser D-22

Votes

No recorded floor votes.

History

  1. Senate Rules "X" file. (SSB 6251)
  2. Senate Rules "X" file.
  3. Placed on second reading by Rules Committee. (SSB 6251)
  4. Placed on second reading by Rules Committee.
  5. Passed to Rules Committee for second reading. (SSB 6251)
  6. WM - Majority; 1st substitute bill be substituted, do pass. (SSB 6251)
  7. WM - Majority; 1st substitute bill be substituted, do pass.
  8. Passed to Rules Committee for second reading.
  9. First reading, referred to Ways & Means.

SB 6251 in other sessions

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

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