Washington Administrative Code
Title 415 - Retirement Systems, Department of
Chapter 415-112 - Teachers' retirement system
SERVICE CREDIT
Section 415-112-332 - How does the department calculate service credit for Plan 2 and 3 members?
Current through Register Vol. 24-24, December 15, 2024
(1) How is my service credit calculated? RCW 41.32.010(26)(b) provides three methods that may be used to calculate service credit for Plan 2 and 3 members:
The twelve service credit months earned under this subsection are credited to you on August 31.
The six service credit months earned under this subsection are credited to you on August 31.
(2)
Example.
Sept. |
60 |
Oct. |
60 |
Nov. |
60 |
Dec. |
60 |
Jan. |
60 |
Feb. |
60 |
March |
160 |
April |
160 |
May |
160 |
June |
|
July |
|
Aug. |
|
Total |
840 |
Mary is a Plan 3 member who worked nine months, for a total of 840 hours, as shown in the table. Using the twelve-month method, Mary receives one service credit month for each of twelve calendar months, for a total of twelve service credit months. The department will credit Mary with twelve service credit months on August 31. If Mary separates service at the end of May, she will receive nine service credit months. If she separates service at the end of June, she will receive ten service credit months.
(3) If you are employed by two or more employers, you will receive no more than one service credit month for any calendar month.
Statutory Authority: RCW 41.50.050(5), 41.32.010(26)(b). 06-18-006, §415-112-332, filed 8/24/06, effective 9/24/06.