(1) Transferring purchased Plan 2 credit under RCW 41.50.165(2) into Plan 3. If you purchase Plan 2 service credit under this chapter and later enter Plan 3, that credit will also transfer to Plan 3.
- (a) Fifty percent of the money you paid to purchase the service credit will be credited to the Plan 3 defined contribution account.
- (b) The other fifty percent will be credited to the Plan 3 defined benefit plan established under RCW 41.32.831 for TRS Plan 3, RCW 41.35.600 for SERS Plan 3, and RCW 41.40.780 for PERS Plan 3.
- (2) Purchasing Plan 2 service credit after transferring to Plan 3. You may purchase service credit initially available under Plan 2 after you transfer to Plan 3. The service will be credited in Plan 3. If you purchase Plan 2 service credit under this chapter, fifty percent of the money you pay to purchase the service credit will be credited to your Plan 3 defined contribution account. The other fifty percent will be credited to the Plan 3 defined benefit portion established under RCW 41.32.831 for TRS Plan 3, RCW 42.35.600 for SERS Plan 3 and RCW 41.40.780 for PERS Plan 3.
- (3) Not applicable for service earned after transferring to Plan 3. Plan 3 does not have any deadlines on establishing optional service.
[Statutory Authority: RCW 41.50.050(5). WSR 14-06-053, § 415-10-100, filed 2/27/14, effective 10/1/14. Statutory Authority: RCW 41.50.050(5), 41.50.165, 41.50.175. WSR 02-03-120, § 415-10-100, filed 1/23/02, effective 3/1/02. Statutory Authority: Chapter 41.50 RCW. WSR 00-22-049, § 415-10-100, filed 10/27/00, effective 11/27/00. Statutory Authority: RCW 41.50.050 and 41.50.165. WSR 97-01-014, § 415-10-100, filed 12/6/96, effective 1/6/97.]