Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-108 - Public employees' retirement system › SERVICE RETIREMENT › Section 415-108-820 - Interim retirement allowance - Employer final compensation report - Final computation of retirement allowance - Adjustment of retirement allowance for errors

Current through Register Vol. 24-14, July 15, 2024
(1) At the time
				of a member's application for retirement, the department does not have all
				information necessary to make a final computation of the member's retirement
				allowance. Based upon estimates of the retiree's compensation and earned
				service credit through the date of retirement, the department shall compute an
				interim retirement allowance made payable to the member in the interim between
				the member's date of retirement and the department's final computation of the
				member's retirement allowance. The interim retirement allowance is an initial,
				estimated computation of the retiree's retirement allowance subject to
				adjustment by the department based upon subsequent review of information
				provided by the member's employer.
(2) In computing the interim retirement
				allowance, the department shall, subject to later correction, consider only the
				amount of the member's salary actually reported by the employer up to the date
				of the interim computation, but shall impute the member's earned service credit
				for the same period.
(3) Every
				employer of a member who applies for retirement shall provide the department
				with a final compensation report for that member. The report shall be completed
				on a form provided or approved by the department.
(4) Following the department's computation of
				the interim benefit and receipt of the employer final compensation report,
				leave cash out information for Plan I retirees, earnings history, and copies of
				the employment contract and employer compensation policies, the department
				shall complete a final computation of the member's retirement allowance. The
				department's final computation may either increase or decrease the amount of
				the interim retirement allowance computed pursuant to subsection (1) of this
				section.
(5) Pursuant to
				RCW
				41.50.130, following the department's final
				computation of the member's retirement allowance as provided in subsection (4)
				of this section, the department may subsequently adjust a member's retirement
				allowance to correct any error in retirement system records. For purposes of
				this subsection, errors in retirement system records include, but are not
				limited to, the following:
(a) Applying an
				incorrect retirement allowance formula in computing the retirement
				allowance;
(b) Including service
				that is not creditable to the member;
(c) Including payments that do not constitute
				earnable compensation to a member in the member's retirement allowance
				computation, or excluding earnable compensation not reported by an
				employer;
(d) Benefit overpayments
				and underpayments;
(e) Including an
				individual in the membership of the retirement system who is not entitled to
				such membership.