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Title 03
Chapter 03.05
Section 03.05.025
 

Title 03 Administration and Personnel

Chapter 03.05 Spokane Employees' Retirement System

Section 03.05.025 Benefit Formula Eligibility
  1. An employee of the City with a participation date prior to January 1, 2009. The member shall be entitled to elect at the time of retirement whether to receive their benefit under Tier 1, Tier 2, Tier 3, or Tier 4.

  2. An employee of the City with a participation date on or after January 1, 2009, but before January 1, 2015. The member shall be entitled to elect at the time of retirement whether to receive their benefit under Tier 2, Tier 3, or Tier 4.

  3. An employee of the City with a participation date on or after January 1, 2015, but before January 1, 2018. The member shall be entitled to elect at the time of retirement whether to receive their benefit under Tier 3 or Tier 4.

  4. An employee of the City with a participation date on or after January 1, 2018. The member shall be entitled to receive their benefit under Tier 4.

  5. The basic provisions of the benefit formula for Tier 1, Tier 2, Tier 3, and Tier 4 are summarized in SMC 3.05.168.

Date Passed: Monday, January 8, 2018

Effective Date: Wednesday, February 21, 2018

ORD C35574 Section 2