reglab/statecodes huggingface dataset:
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-113 - Portability of public employment benefits › EMPLOYMENT AFTER RETIREMENT › Section 415-113-300 - How is my benefit affected if I return to work after retiring from multiple DRS retirement systems?

Current through Register Vol. 24-14, July 15, 2024
(1) If you are retired from multiple DRS
				systems and return to work for a DRS employer, your benefits will be affected
				according to rules of each respective system.
(a) If your system and plan has an annual
				hourly limit, the annual hourly limit is based on the calendar year, except as
				described in subsection (b) of this section.
(b) If one of the systems you retired from is
				TRS Plan 1, your annual hourly limit for all your systems will be counted using
				a fiscal year (July through June).
See WAC
				  415-108-710
				  (PERS), 415-110-710 (SERS), 415-112-525 (TRS), 415-106-700 (PSERS),
				  RCW
				  41.26.500 (LEOFF Plan 2), 43.43.130
				  (WSPRS).
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-114 - Assessment of interest charges on overdue receivables › Section 415-114-100 - Purpose

Current through Register Vol. 24-14, July 15, 2024
These rules relate to the implementation of
				RCW
				41.50.120 and
				41.50.125 which provide the
				department of retirement systems the authority to assess interest on the
				overdue unpaid balance of a receivable owed to the department. These rules are
				intended to encourage payment in a timely manner.
Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  41.50.125. 98-24-083, §
										415-114-100, filed 12/1/98,
				  effective 1/1/99. Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  chapter
				  34.05 RCW. 91-19-062,
				  §
										415-114-100, filed 9/16/91,
				  effective 10/17/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-114 - Assessment of interest charges on overdue receivables › Section 415-114-200 - Definitions

Current through Register Vol. 24-14, July 15, 2024
As used in this chapter, unless a different meaning is plainly
				required by the context:
(1)
			 "Department" - Refers to the department of retirement systems established
			 pursuant to
			 chapter
			 41.50 RCW as now existing
			 or hereafter amended;
(2)
			 "Receivable" - Refers to an amount owed to DRS, where there is a legal
			 obligation to pay DRS and DRS has a legal obligation to collect the amount
			 owed. That includes, but is not limited to, amounts owed to trust funds
			 administered by the department of retirement systems;
(3) "Close of business day" - Refers to 5:00
			 p.m. of a business day;
(4)
			 "Overdue receivable" - Refers to a receivable with an unpaid balance at the
			 close of business three business days after the due date;
(5) "Employer receivable" - Refers to a
			 receivable which is owed by any one of the employers within the retirement
			 systems and programs administered by the department as defined in
			 RCW
			 41.50.030;
(6) "Member receivable" - Refers to a
			 receivable which is owed by any one of the current or previous members of the
			 retirement systems and programs administered by the department as defined in
			 RCW
			 41.50.030, or is owed by a member's
			 beneficiary, legal owner payee, or other agent in conjunction with the member's
			 account;
(7) "Administrative
			 receivable" - Refers to any receivable owed the department which is not
			 considered an employer receivable or a member receivable.
Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  41.50.125. 98-24-083, §
										415-114-200, filed 12/1/98,
				  effective 1/1/99. Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  chapter
				  34.05 RCW. 91-19-062,
				  §
										415-114-200, filed 9/16/91,
				  effective 10/17/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-114 - Assessment of interest charges on overdue receivables › Section 415-114-400 - Assessment of interest charge

Current through Register Vol. 24-14, July 15, 2024
The first calendar day that the receivable is overdue, interest
				will be charged, based on the due date.
A 1% per month simple interest charge will be assessed against
				an employer's overdue balance. Interest charges for other receivables will be
				determined by the director of the department of retirement systems. For member
				receivables, interest will be based on the long-term investment return
				assumption adopted under
				RCW
				41.45.030. These rates approximate interest
				lost to trust funds because the receivables have not been paid in a timely
				manner.
Assessed interest will appear on the monthly accounts
				receivable statement issued by the department.
Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  41.50.125. 98-24-083, §
										415-114-400, filed 12/1/98,
				  effective 1/1/99. Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  chapter
				  34.05 RCW. 91-19-062,
				  §
										415-114-400, filed 9/16/91,
				  effective 10/17/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-114 - Assessment of interest charges on overdue receivables › Section 415-114-700 - Erroneous charges of interest

Current through Register Vol. 24-14, July 15, 2024
If the department erroneously charges interest, the department
				will credit the account within sixty days of the date that the erroneous bill
				is corrected. The credit will equal all erroneous interest charged. Those who
				believe they have been charged interest in error must submit written
				justification of their claim within ninety days of the interest
				charge.
Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  41.50.125. 98-24-083, §
										415-114-700, filed 12/1/98,
				  effective 1/1/99. Statutory Authority:
				  RCW
				  41.50.050,
				  41.50.120 and
				  chapter
				  34.05 RCW. 91-19-062,
				  §
										415-114-700, filed 9/16/91,
				  effective 10/17/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-010 - Purpose

Current through Register Vol. 24-14, July 15, 2024
These rules relate to the implementation of
				RCW
				41.50.110(3) which provides
				the department of retirement systems the authority to assess additional
				administrative fees related to increased costs incurred by the department in
				processing deficient reports. These rules are intended to encourage employers
				to report timely and accurate member information.
Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-010, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-020 - Definitions

Current through Register Vol. 24-14, July 15, 2024
As used in this chapter, unless a different meaning is plainly
				required by the context:
(1)
			 "Department" refers to the department of retirement systems established
			 pursuant to
			 chapter
			 41.50 RCW as now existing
			 or hereafter amended.
(2)
			 "Employers" refers to all employers within the retirement systems administered
			 by the department, as defined in
			 RCW
			 41.50.030.
(3) "Reports" refers to the department of
			 retirement systems transmittal report sent each month by employers to the
			 department.
(4) "Close of business"
			 refers to 5:00 p.m. of a business day.
(5) "Standard administrative fee" for
			 employers in the public employees', public safety employees', school
			 employees', teachers', and law enforcement officers' and firefighters'
			 retirement systems refers to the administrative fee provided for under
			 RCW
			 41.50.110; for employers in the judges,
			 judicial, and Washington state patrol retirement systems refers to the biennial
			 appropriation that the department receives for administering each
			 system.
(6) "Additional
			 administrative fee" refers to the fee provided for under
			 RCW
			 41.50.110(3) which is
			 related to increased costs incurred by the department in processing deficient
			 reports.
Statutory Authority:
				  RCW
				  41.50.050(5) and chapter
				  41.37 RCW. 08-02-048, §
										415-115-020, filed 12/27/07,
				  effective 1/27/08. Statutory Authority:
				  Chapters
				  41.32, 41.34,
				  41.35,
				  41.50 RCW. 01-01-059, §
										415-115-020, filed 12/12/00,
				  effective 1/12/01. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-020, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-030 - Assessment of additional administrative fee

Current through Register Vol. 24-14, July 15, 2024
(1) An employer who fails to submit timely
			 and accurate reports to the department will be assessed an additional fee
			 related to the increased costs incurred by the department to process the
			 deficient reports.
(2) Every month,
			 the department will determine the amount of the fee to be assessed by
			 evaluating the timeliness and accuracy of the reports submitted by employers in
			 the preceding month. If those reports are either untimely or inaccurate, the
			 department will assess an additional administrative fee. This additional
			 administrative fee will not exceed fifty percent of the standard administrative
			 fee.
Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3)(c).
				  95-12-058, §
										415-115-030, filed 6/2/95,
				  effective 7/3/95. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-030, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-040 - What is considered an untimely report

Current through Register Vol. 24-14, July 15, 2024
Reports for a calendar month, or any portion thereof, are due
				on or before the 15th day of the following calendar month. Reports are
				considered overdue if not received by the close of business on the third
				business day after the 15th of the following calendar month.
Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-040, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-050 - What is considered an inaccurate report

Current through Register Vol. 24-14, July 15, 2024
Reports are inaccurate if they cannot be processed or if they
				contain errors.
Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3)(c).
				  95-12-058, §
										415-115-050, filed 6/2/95,
				  effective 7/3/95. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-050, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-060 - Deficiencies in reporting

Current through Register Vol. 24-14, July 15, 2024
Any report which is overdue or which is inaccurate is
				considered a deficient report. Each day a report is late, each report which
				cannot be processed, or each error contained in a report constitutes a single
				deficiency in reporting. Employers are notified of reporting deficiencies each
				month through the department of retirement systems transmittal edit
				report.
Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3)(c).
				  95-12-058, §
										415-115-060, filed 6/2/95,
				  effective 7/3/95. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-060, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-080 - Determination of additional administrative fee

Current through Register Vol. 24-14, July 15, 2024
The department will determine the additional administrative fee
				that may be assessed to employers who have submitted untimely or inaccurate
				reports. This fee will be determined as follows:
(1) The department will base the additional
			 administrative fee on costs incurred for processing late or inaccurate reports.
			 Costs related to processing deficient data may include, but are not limited to,
			 costs of personnel, equipment, services and facilities.
(2) The department will determine the total
			 number of deficiencies reported by all employers during each month.
(3) Based upon the costs identified in
			 subsection (1) of this section, the department will determine the additional
			 administrative fee to be charged per deficiency.
(4) The department will determine the
			 additional administrative fee to charge each employer. The total fee shall be
			 an amount equal to the per deficiency fee determined under subsection (3) of
			 this section multiplied by the deficiencies reported by an employer.
(5) From time to time, the department may
			 review and adjust the charge calculated under subsection (3) of this
			 section.
(6) Additional
			 administrative fees are due and payable the 15th day of the calendar month
			 following the month that the statement is dated.
Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3)(c).
				  95-12-058, §
										415-115-080, filed 6/2/95,
				  effective 7/3/95. Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  92-16-032 §
										415-115-080, filed 7/29/92,
				  effective 8/29/92. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-080, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-090 - Maximum additional administrative fee allowable for the public employees', public safety employees', teachers', and law enforcement officers' and firefighters' retirement systems

Current through Register Vol. 24-14, July 15, 2024
The maximum additional administrative fee that may be charged
				to employers in the public employees' retirement system, the public safety
				employees' retirement system, the school employees' retirement system, the
				teachers' retirement system, and the law enforcement officers' and
				firefighters' retirement system for any six-month period shall not exceed fifty
				percent of the standard administrative fee due for that six-month period. In
				instances where the standard administrative fee rate changes during the
				six-month period, the new standard administrative fee rate will be applied
				beginning with the month in which the new rate becomes effective. The maximum
				additional administrative fee that may be assessed is determined as
				follows:
(1) If the additional
			 administrative fee as determined in accordance with WAC
			 415-115-080 is less than fifty
			 percent of the standard administrative fee, the additional administrative fee
			 is the maximum fee allowable.
(2)
			 If the additional administrative fee as determined in accordance with WAC
			 415-115-080 is greater than or
			 equal to fifty percent of the standard administrative fee, fifty percent of the
			 standard administrative fee is the maximum fee allowable.
Statutory Authority:
				  RCW
				  41.50.050(5) and chapter
				  41.37 RCW. 08-02-048, §
										415-115-090, filed 12/27/07,
				  effective 1/27/08. Statutory Authority:
				  Chapters
				  41.32, 41.34,
				  41.35,
				  41.50 RCW. 01-01-059, §
										415-115-090, filed 12/12/00,
				  effective 1/12/01. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-090, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-100 - Maximum additional administrative fee allowable for the judges, judicial, and Washington state patrol retirement systems

Current through Register Vol. 24-14, July 15, 2024
The standard administrative fee for employers in the judges
				retirement system, the judicial retirement system, and the Washington state
				patrol retirement system for a six-month period is one-fourth of the biennial
				appropriation the department receives for administering each system. The
				maximum additional administrative fee that may be charged to employers in the
				judges, judicial, and Washington state patrol retirement systems for any
				six-month period shall not exceed fifty percent of the standard administrative
				fee due for that six-month period. The maximum additional administrative fee
				that may be assessed is determined as follows:
1 If the additional administrative fee as
			 determined in accordance with WAC
			 415-115-080 is less than fifty
			 percent of the standard administrative fee, the additional administrative fee
			 is the maximum fee allowable.
2 If
			 the additional administrative fee as determined in accordance with WAC
			 415-115-080 is greater than or
			 equal to fifty percent of the standard administrative fee, fifty percent of the
			 standard administrative fee is the maximum fee allowable.
Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-100, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-115 - Assessment of an additional administrative fee › Section 415-115-120 - Reconsideration of additional administrative fee billing

Current through Register Vol. 24-14, July 15, 2024
(1) An employer who has received a billing
			 for untimely or inaccurate reporting under this chapter may request a
			 reconsideration of the billing. The employer must request reconsideration
			 within six months of the date that the billing was issued by the department.
			 The employer must state the reason why, and present evidence that, the specific
			 assessment was not untimely or inaccurate.
(2) In instances where an additional
			 administrative fee has been assessed incorrectly, the department will credit
			 the employer's account in the amount of the incorrect assessment. An employer
			 must provide suitable verification of the incorrectness of the assessment. An
			 employer will be credited only for those reporting deficiencies charged to the
			 employer for which the employer is not responsible.
Statutory Authority:
				  RCW
				  41.50.050 and
				  41.50.110(3)(c).
				  95-12-058, §
										415-115-120, filed 6/2/95,
				  effective 7/3/95. Statutory Authority: Chapter 43.05 [34.05 ] RCW,
				  RCW
				  41.50.050 and
				  41.50.110(3).
				  91-13-030, §
										415-115-120, filed 6/12/91,
				  effective 7/13/91.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-117 - COOPERATION OF EMPLOYERS IN ADMINISTRATION OF THE RETIREMENT SYSTEMS › Section 415-117-010 - Purpose

Current through Register Vol. 24-14, July 15, 2024
These rules relate to the implementation of
				RCW
				41.50.140(1)  which requires
				every employer participating in one or more of the retirement systems
				administered by the department of retirement systems to fully cooperate in the
				administration of those systems. These rules are intended to assist employers
				in communicating timely with the department and providing accurate member
				information.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-117 - COOPERATION OF EMPLOYERS IN ADMINISTRATION OF THE RETIREMENT SYSTEMS › Section 415-117-020 - Definitions

Current through Register Vol. 24-14, July 15, 2024
As used in this chapter, unless a different meaning is plainly
				required by the context:
(1) "Census
			 data testing" refers to testing of an employer's records for the purpose of
			 validating information used by the state actuary to determine the net pension
			 liability of the retirement systems. Census data refers to retirement system
			 members' information, including birth date, gender, date of hire, years of
			 service, compensation, and date of termination.
(2) "Compliance reviews" refers to
			 examinations of employers' records related to information reported to the
			 department of retirement systems, normally performed to ensure employees are
			 receiving proper service credit and the benefits to which they are
			 entitled.
(3) "Cooperate" or
			 "cooperation" refers to the duty of every employer participating in one or more
			 of the retirement systems to fully cooperate in the administration of the
			 systems in which its employees participate by:
(a) Distributing information to employees;
(b) complying with the department's
			 administrative instructions, requirements, requests, or deadlines; and
(c) accepting and carrying out all
			 other duties as required by law or regulation.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-117 - COOPERATION OF EMPLOYERS IN ADMINISTRATION OF THE RETIREMENT SYSTEMS › Section 415-117-030 - Audits and compliance reviews

Current through Register Vol. 24-14, July 15, 2024
(1) The records of an employer concerning the
			 employment and payment of its employees and contractors are subject to
			 examination by representatives of the department designated to conduct the
			 audits, compliance reviews, census data testing or other similar examinations.
			 The purpose of reviewing the records is to verify compliance with retirement
			 rules and regulations including, but not limited to:
(a) Determining the correctness of reporting
			 of hours and compensation;
(b)
			 Ensuring that individuals required to be enrolled and reported as members of
			 the retirement systems were reported;
(c) Ensuring that current members are
			 eligible to be members of the retirement system; and
(d) Verifying that retirees who have returned
			 to work have been correctly reported.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-117 - COOPERATION OF EMPLOYERS IN ADMINISTRATION OF THE RETIREMENT SYSTEMS › Section 415-117-040 - Timely and accurate reporting and payment

Current through Register Vol. 24-14, July 15, 2024
(1) Employers are required to report
			 compensation and hours as earned by calendar month, rather than when payment is
			 made to employees.
(2) Employers
			 must make corrections to reporting as soon as errors are identified.
(3) If an employer is required to make
			 corrections identified as a result of a review initiated by the department, the
			 employer must make the corrections, and certify to the department that the
			 corrections were completed, within deadlines set by the department.
(4) Reporting must align with directions
			 provided in state laws and rules, employer notices, and the DRS employer
			 handbook and is not overwritten or modified by contract negotiations or
			 settlement agreements.
(5)
			 Employers must attend required training when notified by the department in
			 order to remain current on reporting requirements. The department will make
			 every effort to provide an option to attend training by electronic means
			 whenever feasible.
(6) Payments are
			 due to the department no later than the 15th of the month following the month
			 of payroll. More frequent payments are permitted and allow for quicker
			 investment in employee accounts. Electronic payments are encouraged.
(7) Employers should reconcile their account
			 balances each month. Past due amounts are subject to twelve percent annual
			 interest.
(8) Employers' credit
			 balances should be reconciled timely as they may:
(a) Indicate an employer reporting
			 error;
(b) Impact timely investing
			 of Plan 3 employee funds; or
(c)
			 Impact employees' service credit.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-117 - COOPERATION OF EMPLOYERS IN ADMINISTRATION OF THE RETIREMENT SYSTEMS › Section 415-117-050 - Responding to the department

Current through Register Vol. 24-14, July 15, 2024
(1)
			 Responses to department instructions, requirements, requests, and deadlines
			 must be completed timely to assist the department in ensuring that customers
			 receive the correct amount of retirement benefits they earn while in public
			 service.
(2) Hours worked by
			 retired members must be reported timely to allow for department monitoring and
			 limit employer liability.
(3)
			 Employers should maintain records in alignment with the secretary of state
			 guidelines, which can be up to sixty years.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-200 - Employee retirement benefits board › Section 415-200-030 - Plan 3 external administrators

Current through Register Vol. 24-14, July 15, 2024
The employee retirement benefits board may obtain external
				investment management services to assist with the provision of self-direct
				investment options. External administrator and investment management services
				will be obtained through competitive procurement processes to ensure the
				teachers' retirement system Plan 3, school employees' retirement system Plan 3
				and the public employees' retirement system Plan 3 members receive quality
				services and competitive pricing. The department of retirement systems may
				select external administrators to assist with the administration of the defined
				contribution portion of Plan 3 systems.
Statutory Authority:
				  RCW
				  41.50.050(5) and
				  41.50.088. 02-03-120, §
										415-200-030, filed 1/23/02,
				  effective 3/1/02. Statutory Authority:
				  Chapters
				  41.32, 41.34,
				  41.35,
				  41.50 RCW. 01-01-059, §
										415-200-030, filed 12/12/00,
				  effective 1/12/01. Statutory Authority:
				  RCW
				  41.50.088 and 41.32.060. 97-16-039, §
										415-200-030, filed 7/30/97,
				  effective 7/30/97.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-200 - Employee retirement benefits board › Section 415-200-040 - Self-directed investment - Expenses paid by members

Current through Register Vol. 24-14, July 15, 2024
RCW 41.34.060 allows members of
				the teachers' retirement system plan 3 and school employees' retirement system
				plan 3 to elect to self-direct their investments. Members electing to
				self-direct their investments must pay the expenses caused by the self-directed
				investment program.
(1)
Assessment of member expenses for self-directed investment.
Each
			 month, the third-party administrator will allocate self-directed investment
			 expenses to each participating member. The expenses allocated to members shall
			 include:
(a) External third party
			 administrator costs;
(b) External
			 investment manager and consultant costs; and
(c) State investment board investment
			 management operating expenses, in the case of investment options provided
			 through the state investment board.
Each category of expense shall be expressed in terms of basis
				points. A basis point is equal to one-hundredth of one percent. The
				administrator will determine the participating member's monthly fee by
				multiplying the average monthly value of each participating member's
				self-directed account assets by the basis points for each expense
				category.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-200 - Employee retirement benefits board › Section 415-200-050 - Recusal of board members - Beneficial interest in transaction

Current through Register Vol. 24-14, July 15, 2024
(1) When a member
			 of the board is beneficially interested, directly or indirectly, in a contract,
			 sale, lease, purchase or grant that may be made by, through, or is under the
			 supervision of the board, in whole or in part, or when the member accepts,
			 directly or indirectly, any compensation, gratuity, or reward from any other
			 person beneficially interested in such contract, sale, lease, purchase or
			 grant, the member shall:
(a) Recuse him or
			 herself from the board discussion regarding the specific contract, sale, lease,
			 purchase or grant;
(b) Recuse him
			 or herself from the board vote on the specific contract, sale, lease, purchase
			 or grant; and
(c) Refrain from
			 attempting to influence the remaining board members in their discussion and
			 vote regarding the specific contract, sale, lease, purchase or grant.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-200 - Employee retirement benefits board › Section 415-200-060 - Recusal of board members - Beneficial interest in entity engaged in transaction with the board

Current through Register Vol. 24-14, July 15, 2024
(1) When a
			 member of the board either owns a beneficial interest in or is an officer,
			 agent, employee or member of an entity or individual which is engaged in a
			 transaction involving the board, the member shall:
(a) Recuse him or herself from the board
			 discussion regarding the specific transaction;
(b) Recuse him or herself from the board vote
			 on the specific transaction; and
(c) Refrain from attempting to influence the
			 remaining board members in their discussion and vote regarding the specific
			 transaction.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-200 - Employee retirement benefits board › Section 415-200-070 - Recusal of board members - Disclosure of reason for recusal

Current through Register Vol. 24-14, July 15, 2024
If recusal occurs pursuant to WAC
				415-200-050 or
				415-200-060, the member of the
				board shall disclose to the public the reasons for his or her recusal from any
				board action whenever recusal occurs. The board staff shall record each recusal
				and the basis for the recusal.
Statutory Authority: RCW 41.50.086. 98-01-109, §
										415-200-070, filed 12/17/97,
				  effective 1/17/98.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › DEFERRED COMPENSATION PLAN ESTABLISHED › Section 415-501-010 - What is the purpose of this chapter, and does it apply to me?

Current through Register Vol. 24-14, July 15, 2024
(1) This chapter
				establishes the "deferred compensation plan" according to the provisions of
				RCW
				41.50.030(2),
				41.50.088(2),
				41.50.770,
				41.50.780, and Section 457 of the
				Internal Revenue Code. This plan is for employees of the state of Washington
				and approved political subdivisions of the state of Washington.
(2) This chapter does not:
(a) Apply to any other plan administered by
				the department;
(b) Constitute an
				employment agreement between the participant and the employer; or
(c) Give a participant any right to be
				retained in the employ of the employer.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › DEFINITIONS › Section 415-501-110 - Definitions

Current through Register Vol. 24-14, July 15, 2024
(1)
Accumulated deferrals.
Compensation deferred under the plan,
				adjusted by income received, increases or decreases in investment value, fees,
				and any prior distributions made.
(2)
Automatic enrollment.
A
				process of enrolling newly hired full-time employees as of January 1, 2017. See
				WAC 415-501-400 for
				details.
(3)
Beneficiary.
The person or entity entitled to receive benefits
				under the plan after the death of a participant.
(4)
Compensation.
All payments
				made to a participant by the employer as remuneration for services
				rendered.
(5)
Contributions.
The amount of deferred compensation that you contribute monthly, which
				can be pretax, taxed, or a combination of both.
(6)
Deferred compensation.
The
				amount of the participant's compensation that is deferred. Pretax and taxed
				contributions are both considered deferred compensation. See WAC
				415-501-400,
				415-501-410, and
				415-501-450.
(7)
Deferred compensation program or
				plan.
A plan that allows employees of the state of Washington and
				approved political subdivisions of the state of Washington to defer a portion
				of their compensation according to the provisions of Section 457(b) of the
				Internal Revenue Code.
(8)
Department.
The department of retirement systems created by
				RCW
				41.50.020 or its designee.
(9)
Eligible employee.
Any
				person who is employed by and receives any type of compensation from a
				participating employer for whom services are provided, and who is:
(a) A full-time, part-time, or career
				seasonal employee of Washington state, a county, a municipality, or other
				political subdivision of the state, whether or not covered by civil
				service;
(b) An elected or
				appointed official of the executive branch of the government, including a
				full-time member of a board, commission, or committee;
(c) A justice of the supreme court, or a
				judge of the court of appeals or of a superior or district court; or
(d) A member of the state legislature or of
				the legislative authority of a county, city, or town.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › ADMINISTRATION › Section 415-501-312 - What laws govern the administration of the plan?

Current through Register Vol. 24-14, July 15, 2024
This plan is intended to be an eligible state deferred
				  compensation plan within the meaning of Section 457(b) of the Internal Revenue
				  Code and Washington state law. It is interpreted and administered
				  accordingly.
The department is authorized to interpret the provisions of
				  this plan and resolve any ambiguity in the plan. In the event any form or other
				  document used in administering this plan conflicts with the terms of the plan,
				  the terms of the plan prevail.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-312, filed 10/29/04,
					 effective 11/29/04.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › ADMINISTRATION › Section 415-501-315 - What are my employer's responsibilities?

Current through Register Vol. 24-14, July 15, 2024
An employer has responsibilities including, but not limited
				  to, determining employees' eligibility to participate, reporting and paying
				  deferrals to the department, and monitoring for deferral limits. Employer
				  contributions must be reported to the department separately from employee
				  contributions.
The department's administration of the plan does not replace
				  the employer's responsibilities.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-315, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, §
											415-501-315, filed 5/18/00,
					 effective 6/18/00.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › ADMINISTRATION › Section 415-501-320 - What are the tax consequences of participating in the plan?

Current through Register Vol. 24-14, July 15, 2024
You should consult with your own representative regarding
				  questions of federal or state income, payroll, personal property or other tax
				  consequences arising from your participation in this plan. The department does
				  not:
(1) Represent or guarantee that
				any particular federal or state income, payroll, personal property or other tax
				consequence will occur because of your participation in this plan;
(2) Assume any liability for your compliance
				with the Internal Revenue Code.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-320, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, amended and recodified as §
											415-501-320, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-564-040, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › ADMINISTRATION › Section 415-501-330 - Does the department maintain a record of my account?

Current through Register Vol. 24-14, July 15, 2024
The department maintains a deferred compensation account for
				  each participant. When necessary, the department will create and maintain a
				  deferred compensation account for a beneficiary or for a former
				  spouse.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-330, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, recodified as §
											415-501-330, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-508-040, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › ADMINISTRATION › Section 415-501-340 - Where is my deferred compensation deposited?

Current through Register Vol. 24-14, July 15, 2024
The department deposits deferred compensation into a special
				  fund created in the treasury of the state of Washington called the "deferred
				  compensation principal account." Amounts in the deferred compensation principal
				  account may be invested according to
				  RCW
				  41.50.770. All amounts payable to
				  participants or their beneficiaries are paid from the deferred compensation
				  principal account.
All costs of administering and staffing the plan, expenses of
				  the department, and other amounts determined by the department and permitted by
				  law, are paid out of the deferred compensation administrative
				  account.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-340, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, amended and recodified as §
											415-501-340, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-508-050, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › DEPARTMENT POWERS › Section 415-501-370 - How are the rights of participants and beneficiaries determined?

Current through Register Vol. 24-14, July 15, 2024
(1) The department
				has the authority to decide all issues concerning the rights of participants
				and beneficiaries under the plan. The department's determination is binding on
				the participant and beneficiaries.
(2) A participant or beneficiary may file a
				petition for review under chapter 415-04 WAC or an application under WAC
				415-08-015(2) 
				for review of a decision to deny an application for distribution pursuant to
				WAC 415-501-510.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-370, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, amended and recodified as §
											415-501-370, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-564-020, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › DEPARTMENT POWERS › Section 415-501-380 - How are questions about distributions resolved?

Current through Register Vol. 24-14, July 15, 2024
(1) The department may suspend distribution
				of your accumulated deferrals in order to resolve issues beyond its authority,
				such as the correctness of the distribution, amount of the distribution, or
				identity of the entitled recipient(s). The suspension will continue until all
				issues are resolved, either by written agreement of all parties concerned or by
				final order of a court of competent jurisdiction. The department and all
				involved parties must comply with the final order(s) of the court in any such
				suit.
(2) Whenever a distribution
				is suspended pursuant to this section, the time period for making any choice
				under WAC
				415-501-485 or
				415-501-491 through
				415-501-494 will not begin until
				all issues are resolved.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-380, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.050(5),41.50.030(2),
					 41.50.088(2),
					 41.50.770, and
					 41.50.780, 26 U.S.C. (Internal
					 Revenue Code) and related tax regulations. 02-01-121, §
											415-501-380, filed 12/19/01,
					 effective 1/1/02. Statutory Authority:
					 RCW
					 41.50.770, [41.50.]780 and41.50.050 .
					 00-11-104, amended and recodified as §
											415-501-380, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-564-050, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › DEPARTMENT POWERS › Section 415-501-390 - Can the department delegate its authority?

Current through Register Vol. 24-14, July 15, 2024
The department may delegate functions performed under this
				  plan to any designee with legal authority to perform such
				  functions.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-390, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, recodified as §
											415-501-390, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-564-060, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › PARTICIPATION IN THE PLAN › Section 415-501-410 - How do I enroll in the plan?

Current through Register Vol. 24-14, July 15, 2024
(1) As an
				eligible employee, you may enroll in the plan by executing a participation
				agreement according to methods established by the department.
(2) By executing the participation agreement,
				you authorize your employer to reduce your gross compensation each month by a
				specific amount. This amount will be contributed to your deferred compensation
				account. Your employer will reduce your compensation by the specified amount
				until you change the amount (WAC 415-501-450).
(3) Deferrals from your compensation will
				start as soon as administratively possible after your participation agreement
				is approved by the department.
(4)
				Reenrollment. If you transfer from a state agency to another state agency
				without a separation of employment, your deferred compensation program (DCP)
				enrollment will be automatically transferred to the new state agency. Your
				contributions will automatically continue. For nonstate participants, if you
				separate from employment with a DCP employer (break in service) and return to
				employment with a DCP employer, you must reenroll in the program if you want to
				resume contributions to DCP. Depending on the employer you return to, you may
				be subject to the automatic enrollment under WAC 415-501-400.
Statutory Authority:
					 RCW
					 41.50.050(5),
					 41.50.780(10),
					 and 41.50.770. 04-22-053, §
											415-501-410, filed 10/29/04,
					 effective 11/29/04. Statutory Authority:
					 RCW
					 41.50.770,[41.50.]780 and 41.50.050.
					 00-11-104, amended and recodified as §
											415-501-410, filed 5/18/00,
					 effective 6/18/00. Statutory Authority:
					 RCW
					 41.50.050 and
					 41.50.780(11).
					 96-16-020, § 415-512-010, filed 7/29/96, effective
					 7/29/96.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › PARTICIPATION IN THE PLAN › Section 415-501-415 - May I move funds into the plan from an eligible retirement plan?

Current through Register Vol. 24-14, July 15, 2024
(1)
Rollover.
If you established your deferred compensation account
				through your own employment with a participating employer, you may roll pretax
				contributions into the plan from an individual retirement account (IRA) or from
				another eligible retirement plan. Your DCP account also accepts rollovers-in
				from designated Roth accounts within eligible retirement plans, but not from
				Roth IRAs. If your account was established as a beneficiary following the
				original account owner's death, or as a result of a domestic relations order as
				described in WAC
				415-501-495, you are not eligible
				to roll additional funds into the account.
(a) The plan will keep a separate accounting
				of all funds rolled into the plan.
(b) Distributions of money rolled into the
				plan may be subject to an additional 10 percent tax on early
				distributions.
Washington Administrative Code › Title 415 - Retirement Systems, Department of › Chapter 415-501 - Deferred compensation plan › PARTICIPATION IN THE PLAN › Section 415-501-416 - May I move funds from the plan into another eligible retirement plan?

Current through Register Vol. 24-14, July 15, 2024
(1)
Rollover.
Subject to the rules of the receiving plan, you may roll
				pretax contributions into an individual retirement account (IRA) or another
				eligible retirement plan after separation from service. You also have the
				option of rolling out dollars from your Roth 457(b) account to a Roth IRA or
				another employer plan with designated Roth accounts (such as a 457, 401(k), or
				403(b) that accepts Roth rollovers).
(2)
Plan-to-plan transfer.
You
				may transfer money:
(a) Through a plan-to-plan
				transfer into another eligible governmental Section 457(b) plan after you
				terminate employment, if the receiving plan allows the transfer and you are
				employed by the sponsor of the receiving plan.
(b) Through a plan-to-plan transfer into
				another eligible governmental Section 457(b) plan maintained by a political
				subdivision if the receiving plan allows the transfer and you are employed by
				the political subdivision both before and after the transfer.
(c) Through a plan-to-plan transfer to
				purchase service credit in a governmental Section 401(a) plan.
Transferred funds are governed by the rules of the receiving
				  plan.