Section 415-501-475 - How will my deferred compensation be invested?(1) When you enroll, you may select one or more of the investment options offered. Initially, you will need to select the same investment option(s) for both Roth and pretax if you contribute to both at enrollment. After you have enrolled, you may select different investments for your Roth and pretax contributions through your online account.(2) The department will invest 100 percent of your future contributions in the Retirement Strategy Fund that assumes you will retire at age 65 if any of the following occurs during the enrollment process. (a) An investment option is not selected.(b) The total does not equal 100 percent when multiple investment options are selected.(c) You are automatically enrolled into DCP.(3) In general, you may change the investment of your accumulated deferrals, the investment of your future deferrals, or both, through the methods established by the department. However, if necessary to protect the performance results of the DCP program, the department has the right to:(a) Limit the number of times you change investment options;(b) Limit the frequency of the changes;(c) Limit the manner of making changes; or(d) Impose other restrictions. In addition, changes must be consistent with any restrictions on trading imposed by the investment options involved.
(4) Beneficiaries over age 18 and former spouses may change the investment options through the methods established by the department once a separate account has been established for them. The guardian of a minor beneficiary may change the investment options on the minor's account if authorized by the order of guardianship.Wash. Admin. Code § 415-501-475
Amended by WSR 14-10-045, filed 4/30/14, effective 6/1/2014Amended by WSR 16-12-050, Filed 5/25/2016, effective 6/25/2016Amended by WSR 16-24-013, Filed 11/28/2016, effective 1/1/2017Amended by WSR 23-18-025, Filed 8/25/2023, effective 9/25/2023Statutory Authority: RCW 41.50.050(5), 41.50.780(10). 05-22-109, §415-501-475, filed 11/2/05, effective 12/3/05. Statutory Authority: RCW 41.50.050(5), 41.50.780(10), and 41.50.770. 04-22-053, §415-501-475, filed 10/29/04, effective 11/29/04. Statutory Authority: RCW 41.50.770,[41.50.]780 and 41.50.050. 00-11-104, amended and recodified as §415-501-475, filed 5/18/00, effective 6/18/00. Statutory Authority: RCW 41.50.050. 98-20-047, § 415-512-075, filed 9/30/98, effective 10/31/98. Statutory Authority: RCW 41.50.050 and 41.50.780(11). 96-16-020, § 415-512-075, filed 7/29/96, effective 7/29/96.