Title 43 — Title 43 STATE GOVERNMENT—EXECUTIVE
178 chapters · 3,474 sections in this title.
RCW 43.33A.010 General powers and duties.
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Unless otherwise prescribed by law, the state investment board shall exercise all the powers and perform all duties with respect to the investment of public trust and retirement funds.[ 2012 c 187 s 1; 1981 c 3 s 1.]Notes:Effective dates—1981 c 3: "Sections 2, 4, 5, 6, 7, 10, 11,…
RCW 43.33A.020 Board created—Membership—Terms—Vacancies—Removal.
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There is hereby created the state investment board to consist of fifteen members to be appointed as provided in this section.(1) One member who is an active member of the public employees' retirement system and has been an active member for at least five years. This member shall …
RCW 43.33A.025 Criminal history record checks for board staff finalist candidates.
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(1) Notwithstanding any provision of RCW 43.43.700 through 43.43.815, the state investment board shall require a criminal history record check for conviction records through the Washington state patrol criminal identification system, and through the federal bureau of investigatio…
RCW 43.33A.030 Trusteeship of funds—Contracts—Delegation of powers and duties.
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Trusteeship of those funds under the authority of the board is vested in the voting members of the board. The nonvoting members of the board shall advise the voting members on matters of investment policy and practices.The board may enter into contracts necessary to carry out its…
RCW 43.33A.035 Delegation of authority—Investments or investment properties.
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The board or its executive director may delegate by contract to private sector or other external advisors or managers the discretionary authority, as fiduciaries, to purchase or otherwise acquire, sell, or otherwise dispose of or manage investments or investment properties on beh…
RCW 43.33A.040 Quorum—Meetings—Chairperson—Vice chairperson.
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(1) A quorum to conduct the business of the state investment board consists of at least six voting members. No action may be taken by the board without the affirmative vote of six members.(2) The state investment board shall meet at least quarterly at such times as it may fix. Th…
RCW 43.33A.050 Compensation of members—Travel expenses.
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Members of the state investment board who are public employees shall serve without compensation but shall suffer no loss because of absence from their regular employment. Members of the board who are not public employees shall be compensated in accordance with RCW 43.03.240. Memb…
RCW 43.33A.060 Employment restrictions.
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No member during the term of appointment may be employed by any investment brokerage or mortgage servicing firm doing business with the state investment board. A trust department of a commercial bank or trust company organized under federal or state law is not considered a mortga…
RCW 43.33A.070 Liability of members.
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No member of the state investment board is liable for the negligence, default, or failure of any other person or other member of the board to perform the duties of the member's office and no member of the board shall be considered or held to be an insurer of the funds or assets o…
RCW 43.33A.080 Investment of funds in farm, soil, water conservation loans and in Washington land bank.
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The state investment board may invest those funds which are not under constitutional prohibition in: (1) Farm ownership and soil and water conservation loans fully guaranteed as to principal and interest under the Bankhead-Jones farm tenant act administered by the United States d…
RCW 43.33A.090 Records.
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The state investment board shall keep a full and complete public record of its proceedings in appropriate books of record. Within sixty days of July 1, 1981, the state investment board shall assume physical custody of all investment accounts, files, and other records of each fund…
RCW 43.33A.100 Offices—Personnel—Officers—Compensation—Transfer of employees—Existing contracts and obligations.
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The state investment board shall maintain appropriate offices and employ such personnel as may be necessary to perform its duties. Employment by the investment board shall include but not be limited to an executive director, investment officers, and a confidential secretary, whic…
RCW 43.33A.110 Rules and regulations—Investment policies and procedures.
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The state investment board may make appropriate rules and regulations for the performance of its duties. The board shall establish investment policies and procedures designed exclusively to maximize return at a prudent level of risk. However, in the case of the department of labo…
RCW 43.33A.120 Examination of accounts, files, and other records.
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All accounts, files, and other records of the state investment board which pertain to each retirement system are subject at any time or from time to time to such reasonable periodic, special, or other examinations by the department of retirement systems as the director of the dep…
RCW 43.33A.130 Securities—State treasurer may cause same to be registered in the name of the nominee.
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The state treasurer may cause any securities in which the state investment board deals to be registered in the name of a nominee without mention of any fiduciary relationship, except that adequate records shall be maintained to identify the actual owner of the security so registe…
RCW 43.33A.135 Investment policy—Investment options.
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The state investment board has the full power to establish investment policy, develop participant investment options, and manage investment funds for the college savings program, if the committee on advanced tuition payment and college savings selects the state investment board a…
RCW 43.33A.140 Investments—Standard of investment and management.
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The state investment board shall invest and manage the assets entrusted to it with reasonable care, skill, prudence, and diligence under circumstances then prevailing which a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an ac…
RCW 43.33A.150 Reports of investment activities.
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(1) The state investment board shall prepare written reports at least quarterly summarizing the investment activities of the state investment board, which reports shall be sent to the governor, the senate ways and means committee, the house appropriations committee, the departmen…
RCW 43.33A.160 Funding of board—State investment board expense account.
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(1) The state investment board shall be funded from the earnings of the funds managed by the state investment board, proportional to the value of the assets of each fund, subject to legislative appropriation.(2) There is established in the state treasury a state investment board …
RCW 43.33A.170 Commingled trust funds—Participation of funds in investments of board.
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The state investment board is authorized to establish commingled trust funds in the state treasury for the implementation of specific investment programs for any combination of funds under its jurisdiction. At the discretion of the state investment board, the funds under the juri…
RCW 43.33A.180 Investment accounting—Transfer of functions and duties from state treasurer's office.
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The state investment board shall account for and report on the investments authorized by this chapter in the manner prescribed by the office of financial management under chapter 43.88 RCW.After approval of the director of financial management, all positions, reports, documents, …
RCW 43.33A.190 Self-directed investment—Board's duties (as amended by 2016 c 39).
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Pursuant to RCW 41.34.130 and 43.330.464, the state investment board shall invest all self-directed investment moneys under teachers' retirement system plan 3, the school employees' retirement system plan 3, ((and)) the public employees' retirement system plan 3, and the Washingt…
RCW 43.33A.200 Creation of entities for investment purposes—Liability—Tax status.
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(1) The board is authorized to create corporations under Title 23B RCW, limited liability companies under chapter 25.15 RCW, and limited partnerships under chapter 25.10 RCW, of which it may or may not be the general partner, for the purposes of transferring, acquiring, holding, …
RCW 43.33A.210 Assets not publicly traded—Treatment of rent and income—Management accounts—Application of this chapter and chapter 39.58 RCW.
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Rent and other income from real estate or other investment assets that are not publicly traded on a daily basis or on an organized exchange that are acquired and being held for investment by the board or by an entity created under RCW 43.33A.200 by the board, and being managed by…