City of Spokane

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Title 03
Chapter 03.05
Section 03.05.035
 

Title 03 Administration and Personnel

Chapter 03.05 Spokane Employees' Retirement System

Section 03.05.035 One-time Buy-back/Re-entry Provision
  1. Any current member of the system who had previously terminated City employment, withdrew their retirement accumulations and was subsequently rehired but did not opt to buy back previous service time when they were first rehired, will have a one-time window from October 1, 2009, through March 31, 2010, to repurchase all or part of that time. Such redeposit will use the current regular interest rate as determined by the board.

  2. Any current permanent employee who was once a member of the system, withdrew their retirement accumulations, but never rejoined the system, will have a one-time window from October 1, 2009, through March 31, 2010, to make an irrevocable election to re-enter SERS. They will also be allowed to repurchase all or part of their previous service time in SERS during this window. This group will have their pension calculated according to SMC 3.05.160. Such redeposit will use the current regular interest rate as determined by the board.

  3. Any current permanent employee, who meets the SERS eligibility requirements, who was never a member of the system will have a one-time window from October 1, 2009, through March 31, 2010, to make an irrevocable election to join SERS. This group will have their pension calculated according to SMC 3.05.160.

Date Passed: Monday, June 27, 2016

Effective Date: Sunday, August 7, 2016

ORD C35387 Section 3