Investment of funds.

(1) The state investment board has the full power to invest, reinvest, manage, contract, sell, or exchange investment money in (a) the restated law enforcement officers' and firefighters' defined benefit retirement fund and (b) the pension surplus holding account. All investment and operating costs of the state investment board and the state treasurer associated with these funds shall be paid under RCW 43.08.190, 43.33A.160, 43.79A.040, and 43.84.160. With the exception of these expenses, the earnings from the investment of the funds shall be retained by the funds.(2) All investments made by the state investment board shall be made with the exercise of that degree of judgment and care under RCW 43.33A.140 and the investment policy established by the state investment board.(3) As deemed appropriate by the state investment board, money in the funds may be commingled for investment with other qualified or eligible funds under the investment authority of the board.[ 2026 c 261 s 106.]Notes:Nonseverability—2026 c 261 ss 101-108: See note following RCW 41.26A.505.