Concerning the threshold for payment of a lump sum retirement allowance in lieu of a monthly benefit.

Summary

The bill lets members of Washington’s public retirement systems who would receive a monthly benefit under $250 opt for a lump‑sum settlement, provided their actual monthly benefit is under $50. It applies to service retirement and earned disability allowances and sets a process for converting, reinstating service, and treating the recipient as retired. The director may adjust the $250 eligibility threshold each year.

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