Chapter 2.90


2.90.010    Washington State Department of Retirement Systems – Membership.

2.90.020    Municipal Employees’ Benefit Trust (MEBT).

2.90.010 Washington State Department of Retirement Systems – Membership.

The City of Mountlake Terrace has elected and does hereby elect to participate as a member of the Washington State Retirement System for pension, relief, disability, and retirement for the employees of the City as provided by RCW Title 41; that all employees and officials of said City shall be included in said system as prescribed by state law. (Ord. 2396 § 1, 2005).

2.90.020 Municipal Employees’ Benefit Trust (MEBT).

In lieu of participation in the federal Social Security program, officers and employees of the City of Mountlake Terrace shall participate in the Municipal Employees’ Benefit Trust (MEBT) plan. All mandatory contributions by the City and employees are consistent with the Old-Age, Survivors and Disability Insurance (OASDI) component of the federal Social Security rate and are to be made by payroll deduction. (Ord. 2396 § 1, 2005).