Washington Administrative Code Title 287 - Investment Board, State
Washington Administrative Code (WAC) Title 287 – Investment Board, State
Overview:
WAC Title 287 governs the rules and procedures of the Washington State Investment Board (WSIB). The WSIB is responsible for managing public trust and retirement funds in the state, ensuring long-term investment returns for beneficiaries such as public employees, teachers, and law enforcement.
Key Functions and Topics Covered:
Investment Policies and Procedures: Rules on how the Board makes investment decisions, manages portfolios, and evaluates risks.
Ethical Standards and Conduct: Codes of ethics for board members and staff to prevent conflicts of interest.
Meetings and Transparency: Requirements for public meetings, agendas, and how decisions are documented.
Oversight and Accountability: Processes for performance review, audits, and reporting obligations to the public and legislature.
Delegation of Authority: Rules outlining which decisions can be delegated to staff or investment managers.
Purpose:
The code ensures that public investment funds are managed prudently, transparently, and in the best financial interest of beneficiaries across the state.
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