RCW 41.50.180
98 words·~1 min read·
/wa/title-41/chapter-41-50/41-50-180·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)By January 1, 2022, the department will establish by rule an effective means of:
(a)Identifying inactive accounts of nonvested members of the retirement systems listed in RCW 41.50.030 whose account balance is less than one thousand dollars; and
(b)Providing for the orderly closing and refunding of member account balances in those accounts in accordance with the federal internal revenue code.
(2)The refund of a member's account balance will terminate all rights to future benefits, unless otherwise restored under the rules for each of the respective retirement systems.
[ 2021 c 189 s 1 .]