WA People
BILL · 2013–14 SESSION

HB 1899: 1st class cities' retirement

Authorizing the state investment board to invest the assets of the first class cities' retirement systems.

Summary

  • Permits the Washington State Investment Board (WSIB) to enter into agreements to invest the pension funds of the First Class Cities Retirement System (FCCRS).
  • Provides that upon entering an agreement to have the WSIB invest pension funds for a FCCRS, the powers and duties of the city retirement board and investment advisory committee related to the investment of the pension funds irrevocably pass to the WSIB.
  • Requires the WSIB to annually report to the FCCRS and city governments on the WSIB's investment activities for FCCRS funds.
  • Provides an additional non-voting seat on the WSIB for a member of a FCCRS when three or more first class cities have reached an investment management agreement with the WSIB.

From the House Bill Analysis 2013 (HB 1899), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · died in committee
  1. IntroducedFeb 15, 2013
  2. Out of committeestopped here
  3. Passed House
  4. Passed Senate
  5. Governor
  6. Law
Prime sponsor
Senator (D-36)
Introduced
February 15, 2013 in the House
Last action
January 13, 2014
Budget
Has a fiscal note

AN ACT Relating to investing the assets of the first class cities' retirement systems;

Sponsors

Prime sponsor: Senator (D-36)

9 co-sponsors (9 Democrats, 0 Republicans)

Ross Hunter D-48Timm Ormsby D-3Jamie Pedersen D-43Ruth Kagi D-32Gael Tarleton D-36David Sawyer D-29Laurie Jinkins D-27Cindy Ryu D-32Gerry Pollet D-46

Votes

No recorded floor votes. This measure never reached a floor vote.

History

  1. By resolution, reintroduced and retained in present status.
  2. By resolution, reintroduced and retained in present status.
  3. By resolution, reintroduced and retained in present status.
  4. First reading, referred to Appropriations.

HB 1899 in other sessions

Bill numbers restart every two years, so the same number is a different bill in each session.

Report wrong or missing information on this page