RCW 41.31.020
Gain-sharing increase amount calculated. (Effective until January 2, 2008.)

(1) The gain-sharing increase amount shall be the amount of increase, rounded to the nearest cent, that can be fully funded in actuarial present value by the amount of extraordinary investment gains, if any. The amount of extraordinary investment gains shall be calculated as follows:

     (a) One-half of the sum of the value of the net assets held in trust for pension benefits in the teachers' retirement system plan 1 fund and the public employees' retirement system plan 1 fund at the close of the previous state fiscal year;

     (b) Multiplied by the amount which the compound average of investment returns on those assets over the previous four state fiscal years exceeds ten percent.

     (2) The gain-sharing increase amount for July 1998, as provided for in RCW 41.31.010, is ten cents.

[1998 c 340 § 2.]

NOTES:

     Effective date -- 1998 c 340: See note following RCW 41.31.010.