Use of other Plan funds for purchase of service credit
Seattle Mun. Code § 4.36.585
in effect4.36.585 - Use of other Plan funds for purchase of service credit
A. Direct transfers. Effective January 1, 2002, the retirement fund possesses the specific authority to enter into direct transfer of assets agreements with the trustees of an eligible plan under Section 457 of the Code that is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or political subdivision of a state, or from a plan under Section 403(b) of the Code, for the purchase of creditable service otherwise available pursuant to Chapter 4.36.
B. Other rollovers. Effective January 1, 2002, the retirement fund may accept participant rollover contributions and/or direct rollovers of distributions from other retirement plans which are eligible retirement plans described in Code Section 402(c)(8)(B) to the extent allowed by the Code. The fund may accept rollovers from such sources and may develop such procedures and rules as it deems necessary or desirable to comply with the requirements and guide its decisions regarding participant rollover contributions and/or direct rollovers of distributions it will accept. Such rollover contributions and direct rollovers may be used for the purchase of service credit otherwise available pursuant to Chapter 4.36.
(Ord. 125109, § 28, 2016; Ord. 124574, § 6, 2014; Ord. 120684, § 3, 2001.)
Source: City of Seattle, Seattle Municipal Code and City Charter (Municode Library, library.municode.com)URL: https://library.municode.com/wa/seattle/codes/municipal_code?nodeId=TIT4PE_CH4.36CIEMRESY_4.36.585USOTPLFUPUSECRFetched: 11/1/2026