WAC 415-104-111   How is my LEOFF Plan 2 retirement allowance affected if I return to work after retirement?  This rule applies to you if you are a LEOFF 2 retiree who returns to work in an eligible LEOFF, public employees' retirement system (PERS), public safety employees' retirement system (PSERS), school employees' retirement system (SERS), or teachers' retirement system (TRS) position.

     (1) If you return to employment in a LEOFF eligible position, you must reenter membership and your retirement allowance will stop. When you separate from service, the department will calculate your retirement allowance according to this subsection.

     (a) If you previously retired before age fifty-three, the department will:

     (i) Calculate your retirement allowance pursuant to RCW 41.26.420 using:

     (A) Your total years of career service, including service earned prior to your initial retirement and service earned after reentering membership; and

     (B) Any increase in your final average salary resulting from your reentry into membership; and

     (ii) Actuarially reduce your retirement allowance:

     (A) Based on the present value of the retirement allowance payments you received during your initial retirement;

     (B) To reflect the difference in the number of years between your current age and the attainment of age fifty-three, if you are not yet fifty-three; and

     (C) To offset the cost of your benefit option if it includes a survivor feature. See WAC 415-104-215.

     (b) If you previously retired at or after age fifty-three, the department will:

     (i) Calculate your retirement allowance pursuant to RCW 41.26.420 using:

     (A) Your total years of career service, including service earned prior to your initial retirement and service earned after reentering membership; and

     (B) Any increase in your final average salary resulting from your reentry into membership; and

     (ii) Actuarially reduce your retirement allowance to offset the cost of your benefit option if it includes a survivor feature. See WAC 415-104-215.

     (c) Under no circumstances will you receive a retirement allowance creditable to a month during which you earned service credit.

     (2) If you enter employment in a PERS, PSERS, SERS, or TRS eligible position, you have two options:

     (a) You may choose not to become a member of the PERS, PSERS, SERS, or TRS retirement system and continue to receive your monthly LEOFF Plan 2 retirement allowance; or

     (b) You may choose to become a member of the PERS, PSERS, SERS, or TRS retirement system. Your LEOFF retirement allowance will be suspended while you earn service credit and make contributions toward another retirement benefit. When you leave the PERS, PSERS, SERS, or TRS eligible position, you will resume receiving your LEOFF retirement allowance, along with retroactive payments for the time you were employed. You may choose to have your retroactive payments in a lump sum or actuarially computed into your LEOFF Plan 2 retirement allowance.



[Statutory Authority: RCW 41.50.050(5) and chapter 41.37 RCW. 08-02-048, § 415-104-111, filed 12/27/07, effective 1/27/08. Statutory Authority: RCW 41.50.050(5) and 41.26.500. 06-03-096, § 415-104-111, filed 1/17/06, effective 2/17/06; 05-12-043, § 415-104-111, filed 5/25/05, effective 6/25/05. Statutory Authority: RCW 41.50.050(5), 41.26.470, 2001 c 261. 02-14-072, § 415-104-111, filed 6/28/02, effective 7/29/02. Statutory Authority: RCW 41.50.050. 94-09-040, § 415-104-111, filed 4/19/94, effective 5/20/94.]