RCW 41.26.705
186 words·~1 min read·
/wa/title-41/chapter-41-26/41-26-705·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
It is the intent of chapter 2, Laws of 2003 to:
(1)Establish a board of trustees responsible for the adoption of actuarial standards to be applied to the plan;
(2)Provide for additional benefits for firefighters and law enforcement officers subject to the cost limitations provided for in chapter 2, Laws of 2003;
(3)Exercise fiduciary responsibility in the oversight of those pension management functions assigned to the board;
(4)Provide effective monitoring of the plan by providing an annual report to the legislature, to the members and beneficiaries of the plan, and to the public;
(5)Establish contribution rates for employees, employers, and the state of Washington that will guaranty viability of the plan, subject to the limitations provided for in chapter 2, Laws of 2003;
(6)Provide for an annual budget and to pay costs from the trust, as part of the normal cost of the plan; and
(7)Enable the board of trustees to retain professional and technical advisors as necessary for the fulfillment of their statutory responsibilities.
[ 2003 c 2 s 2 (Initiative Measure No. 790, approved November 5, 2002).]