Intent — 2003 c 2.

RCW 41.26.705
in effect
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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. 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.
Source: WA Statutes (Official Site)URL: https://app.leg.wa.gov/RCW/default.aspx?cite=41.26&full=trueFetched: 6/29/2026

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