WA People
BILL · 2017–18 SESSION

SB 5116: 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 irrevocable agreements to invest the pension funds of the First Class Cities Retirement System (FCCRS).
  • 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 Senate Bill Report (Orig.) (SB 5116), written by the Legislature's nonpartisan staff. Read the full report ↗

Did not pass Did not pass · stalled on the Senate floor
  1. IntroducedJan 12, 2017
  2. Out of committeeFeb 10, 2017
  3. Passed Senatestopped here
  4. Passed House
  5. Governor
  6. Law
Prime sponsor
Senator (D-36)
Introduced
January 12, 2017 in the Senate
Last action
January 8, 2018
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)

3 co-sponsors (3 Democrats, 0 Republicans)

Maralyn Chase D-32Senator D-46Rebecca Saldaña D-37

Votes

No recorded floor votes.

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. By resolution, reintroduced and retained in present status.
  5. Senate Rules "X" file.
  6. Passed to Rules Committee for second reading.
  7. Minority; without recommendation.
  8. Minority; do not pass.
  9. WM - Majority; do pass.
  10. First reading, referred to Ways & Means.

SB 5116 in other sessions

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

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