Washington · statute · Wash. Rev. Code ch. 2.14 · 13 active provisions
(1) The purpose of this chapter is to provide a supplemental retirement benefit to judges who are elected or appointed under chapter 2.04, 2.06, or 2.08 RCW and who are members of the public employees' retirement system for their service as a judge.(2) This chapter may be known and cited as the judicial retirement acco…
The definitions in this section apply throughout this chapter.(1) "Plan" means the judicial retirement account plan.(2) "Principal account" means the judicial retirement principal account.(3) "Member" means a judge participating in the judicial retirement account plan.(4) "Administrative account" means the judicial ret…
The judicial retirement account plan is established for judges appointed or elected under chapter 2.04, 2.06, or 2.08 RCW and who are members of the public employees' retirement system for their service as a judge.
The administrator for the courts, under the direction of the board for judicial administration, shall administer the plan. The administrator shall:(1) Deposit or invest contributions to the plan consistent with RCW 2.14.080;(2) Credit investment earnings or interest to individual judicial retirement accounts consistent…
The administrator for the courts shall be deemed to stand in a fiduciary relationship to the members participating in the plan and shall discharge his or her duties in good faith and with that diligence, care, and skill which ordinary prudent persons would exercise under similar circumstances in like positions.
The judicial retirement principal account is created in the state treasury. Any deficiency in the judicial retirement administrative account caused by an excess of administrative expenses disbursed from that account over earnings of investments of balances credited to that account shall be transferred to that account f…
The judicial retirement administrative account is created in the state treasury. All expenses of the administrator for the courts under this chapter, including staffing and administrative expenses, shall be paid out of the administrative account. Any excess balance of this account over administrative expenses disbursed…
(1) The administrator for the courts shall:(a) Deposit or invest the contributions under RCW 2.14.090 in a credit union, savings and loan association, bank, or mutual savings bank;(b) Purchase life insurance, shares of an investment company, or fixed and/or variable annuity contracts from any insurance company or inves…
The plan shall be funded as provided in this section.(1) Two and one-half percent shall be deducted from each member's salary.(2) The state, as employer, shall contribute an equal amount on a monthly basis.(3) The contributions shall be collected by the administrator for the courts and deposited in the member's account…
(1) A member who separates from judicial service for any reason is entitled to receive a lump sum distribution of the member's accumulated contributions. The administrator for the courts may adopt rules establishing other payment options, in addition to lump sum distributions, if the other payment options conform to th…
If a member dies, the amount of the accumulated contributions standing to the member's credit at the time of the member's death, subject to the provisions of chapter 26.16 RCW, shall be paid to the member's estate, or such person or persons, trust, or organization as the member has nominated by written designation duly…
Beginning January 1, 2007, through December 31, 2007, any member of the public employees' retirement system eligible to participate in the judicial retirement account plan under this chapter may make a one-time irrevocable election, filed in writing with the member's employer, the department of retirement systems, and…
For the purposes of this chapter, the terms spouse, marriage, marital, husband, wife, widow, widower, next of kin, and family shall be interpreted as applying equally to state registered domestic partnerships or individuals in state registered domestic partnerships as well as to marital relationships and married person…