Washington § 41.40.815 - Lump sum payments — Reentry.

Full text of Washington Revised Code of Washington § 41.40.815 — Lump sum payments — Reentry., with citation guidance and answers to common questions.

§ 41.40.815. Lump sum payments — Reentry.

(1) The director may pay a member eligible to receive a retirement allowance or the member's beneficiary a lump sum payment in lieu of a monthly benefit if the initial monthly benefit would be less than one hundred dollars. The one hundred dollar limit shall be increased annually as determined by the director. The lump sum payment shall be the actuarial equivalent of the monthly benefit.
(2) Persons covered under the provisions of subsection (1) of this section may upon returning to member status reinstate all previous service by depositing the lump sum payment received, with interest as computed by the director, within two years of returning to service or prior to retiring again, whichever comes first. In computing the amount due, the director shall exclude the accumulated value of the normal payments the member would have received while in beneficiary status if the lump sum payment had not occurred.
(3) Any member who receives a settlement under this section is deemed to be retired from this system.
[ 2000 c 247 s 308.]

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Frequently Asked Questions About Washington § 41.40.815

What does Revised Code of Washington § 41.40.815 cover?

Section 41.40.815 ("Lump sum payments — Reentry.") 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 § 41.40.815?

A common citation format is "Revised Code of Washington § 41.40.815" (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.

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