Current through Register Vol. 24-18, September 15, 2024
Upon retirement for service under RCW 41.37.210 or retirement
for disability under RCW 41.37.230, you must choose to have your retirement
benefit paid to you by one of the options described in this section.
(1)
Which option will pay my
beneficiary a monthly benefit after my death? Options described in
subsection (2)(b) through (d) of this section will pay a monthly benefit to
your survivor after your death. The person you name at the time of retirement
to receive a monthly benefit after your death is referred to as your "survivor
beneficiary." After your death, your survivor beneficiary will receive a
monthly benefit for the duration of their life. Your monthly retirement benefit
will be reduced to offset the cost of the survivor option. See WAC 415-02-380 for more information on how your monthly benefit will be affected if you choose
a survivor option.
(2)
What
are my benefit options?
(a)
Option one: Standard benefit (nonsurvivor option). The department
will pay you a monthly retirement benefit throughout your lifetime. Your
monthly benefit will cease upon your death.
(b)
Option two: Joint and 100 percent
survivor benefit. The department will pay you a reduced monthly
retirement benefit throughout your lifetime. After your death, your survivor
beneficiary will receive a gross monthly benefit equal to your gross monthly
benefit.
(c)
Option three:
Joint and 50 percent survivor benefit. The department will pay you a
reduced monthly retirement benefit throughout your lifetime. After your death,
your survivor beneficiary will receive a gross monthly benefit equal to 50
percent of your gross monthly benefit.
(d)
Option four: Joint and two-thirds
survivor benefit. The department will pay you a reduced monthly
retirement benefit throughout your lifetime. After your death, your survivor
beneficiary will receive a gross monthly benefit equal to two-thirds (66.667%)
of your gross monthly benefit.
(3)
Do I need my spouse's consent on
the option I choose? The option you select will determine whether
spousal consent is required.
(a) If you are
married and select a nonsurvivor benefit option, you must provide your spouse's
consent, verified by a notarized signature or other means acceptable to the
department. If you do not provide verified spousal consent, the department will
pay you a monthly retirement benefit based on option three (joint and 50
percent benefit) with your spouse as the survivor beneficiary as required by
RCW 41.37.170(2).
(b) If you are
married and select a survivor benefit option for your spouse, spousal consent
is not required. The department will pay you a monthly benefit based on the
option you selected.
(c) If you are
married and select a survivor benefit option for someone other than your
spouse, spousal consent is required. If you do not provide spousal consent,
verified by a notarized signature or other means acceptable to the department,
the department will pay you a monthly retirement benefit based on option three
(joint and 50 percent benefit) with your spouse as the survivor beneficiary as
required by RCW 41.37.170(2).
(d)
If your survivor beneficiary has been designated by a dissolution order
according to subsection (4) of this section, which was filed with the
department at least 30 days before your retirement date, spousal consent is not
required.
(4)
Can
a dissolution order require that a former spouse be designated as a survivor
beneficiary? Yes. A dissolution order may require that a former spouse
be designated as a survivor beneficiary. The department is required to pay
survivor benefits to a former spouse pursuant to a dissolution order that
complies with RCW 41.50.790.
(5)
What happens if I choose a benefit with a survivor option and my survivor
beneficiary dies before I do? If your survivor beneficiary dies before
you do, you may request to have your benefit increased as described in WAC
415-02-380.
(6)
May I change
my benefit option after retirement? Your choice of a benefit option is
irrevocable with the following five exceptions:
(a)
Return to membership. If you
retire and then return to membership for at least two years of uninterrupted
service, you may choose a different retirement option upon your subsequent
retirement. See RCW 41.37.050(3).
(b)
Postretirement marriage
option. If you select the standard benefit option at the time of
retirement and marry after retirement, you may select a survivor benefit option
and name your current spouse as survivor beneficiary, provided that:
(i) Your benefit is not subject to a property
division obligation pursuant to a dissolution order. See WAC
415-02-500;
(ii) The selection is
made during a one-year window, on or after the date of the first anniversary
and before the second anniversary of your postretirement marriage;
(iii) You provide a copy of your certified
marriage certificate to the department; and
(iv) You provide proof of your current
spouse's birth date.
(c)
Removal of a nonspouse survivor option. If you select a survivor
benefit option and name a nonspouse as your survivor beneficiary at the time of
retirement, you may remove that survivor beneficiary designation and have your
benefit adjusted to a standard benefit. You may exercise this option one time
only.
(d)
One-time change of
survivor. You may change your benefit option and/or designated survivor
one time within 90 days from the date your first benefit payment is issued.
Your change request must be in writing, and must comply with other requirements
as described in this section. Your new benefit amount will be effective the
first of the month following the receipt of your request by the
department.
(e)
Retirement
type changes. If your retirement status changes due to the acceptance of
a new retirement application from service retirement to a disability or
catastrophic retirement, or disability to catastrophic retirement, you may
select a different survivor benefit option. Your benefit will be recalculated
to reflect your new survivor option in accordance with WAC
415-106-530.
(7)
Who will receive the balance of my accumulated contributions, if any,
after my death?
(a) If you do not have
a survivor beneficiary at the time of your death, and you die before the total
of the retirement benefit paid equals the amount of your accumulated
contributions at the time of retirement, the balance will be paid:
(i) To the person or entity (i.e., trust,
organization, or estate) you have nominated by written designation, executed
and filed with the department.
(ii)
If you have not designated a beneficiary, or if your designated beneficiary is
no longer living or in existence, then to your surviving spouse.
(iii) If not paid according to (a)(i) or (ii)
of this subsection, then to your estate.
(b) If you have a survivor beneficiary at the
time of your death, and your survivor beneficiary dies before the total of the
retirement benefit paid equals the amount of your accumulated contributions at
the time of retirement, the balance will be paid:
(i) To the person or entity (i.e., trust,
organization, or estate) your survivor beneficiary has nominated by written
designation, executed and filed with the department.
(ii) If your survivor beneficiary has not
designated a beneficiary, or if the designated beneficiary is no longer living
or in existence, then to your survivor beneficiary's spouse.
(iii) If not paid according to (b)(i) or (ii)
of this subsection, then to your survivor beneficiary's estate. See RCW
41.37.170.
Statutory Authority:
RCW
41.37.170,
41.50.050(5),
41.37.050,
41.37.170,
41.37.210,
41.37.230, and
41.50.790. WSR 08-02-046, §415-106-600, filed 12/27/07,
effective 1/27/08.
