Washington § 41.28.085 Legislative intent—Investments.

Washington Statutes

§ 41.28.085 — Legislative intent—Investments.

Washington § 41.28.085

Title 41PUBLIC EMPLOYMENT, CIVIL SERVICE, AND PENSIONS

Ch. 41.28RETIREMENT OF PERSONNEL IN CERTAIN FIRST-CLASS CITIES

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Bluebook

Wash. Rev. Code § 41.28.085 (2026).

Text

In order that the intent of the legislature may be made clear with respect to investments, but without restricting the necessary flexibility that must exist for successful investing of the retirement and pension funds, the legislature makes this declaration of its desire that the investment authority shall give primary consideration to dealing with brokerage firms which maintain offices in the state of Washington so that the investment programs may make a meaningful contribution to the economy of the state. It is further the desire of the legislature that the retirement and pension funds shall be used as much as reasonably possible to benefit and expand the business and economic climate within the state of Washington so long as such use would be consistent with sound investment policy.

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In order that the intent of the legislature may be made clear with respect to investments, but without restricting the necessary flexibility that must exist for successful investing of the retirement and pension funds, the legislature makes this declaration of its desire that the investment authority shall give primary consideration to dealing with brokerage firms which maintain offices in the state of Washington so that the investment programs may make a meaningful contribution to the economy of the state. It is further the desire of the legislature that the retirement and pension funds shall be used as much as reasonably possible to benefit and expand the business and economic climate within the state of Washington so long as such use would be consistent with sound investment policy.