Washington § 41.24.172 - Retirement pensions — Options — Election.

Full text of Washington Revised Code of Washington § 41.24.172 — Retirement pensions — Options — Election., with citation guidance and answers to common questions.

§ 41.24.172. Retirement pensions — Options — Election.

Before beginning to receive the retirement pension provided for in RCW 41.24.170, the participant shall elect, in a writing filed with the state board, to have the retirement pension paid under either option 1 or 2, with option 2 calculated so as to be actuarially equivalent to option 1.
(1) Option 1. A participant electing this option shall receive a monthly pension payable throughout the participant's life. However, if the participant dies before the total retirement pension paid to the participant equals the amount paid on behalf of the participant into the principal fund, then the balance shall be paid to the participant's surviving spouse, or if there be no surviving spouse, then to the participant's legal representatives.
(2) Option 2. A participant electing this option shall receive a reduced monthly pension, which upon the participant's death shall be continued throughout the life of and paid to the participant's surviving spouse named in the written election filed with the state board, however, in the event that the surviving spouse dies before the participant, the participant's monthly retirement allowance shall increase, effective the first day of the following month, to the monthly amount that would have been received had the participant elected option 1.
[ 1999 c 148 s 16; 1999 c 117 s 6; 1995 c 11 s 9; 1989 c 91 s 6.]

Notes

Reviser's note: This section was amended by 1999 c 117 s 6 and by 1999 c 148 s 16, each without reference to the other. Both amendments are incorporated in the publication of this section under RCW 1.12.025(2). For rule of construction, see RCW 1.12.025(1).
Effective date—1989 c 91: See note following RCW 41.24.010.

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Frequently Asked Questions About Washington § 41.24.172

What does Revised Code of Washington § 41.24.172 cover?

Section 41.24.172 ("Retirement pensions — Options — Election.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Washington § 41.24.172?

A common citation format is "Revised Code of Washington § 41.24.172" (Washington). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Washington law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Washington official source linked on this page or consult a licensed Washington attorney.

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Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Washington can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

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