State Investment Board
| Annual FTEs | General Fund State | Other Funds | Total Funds | |
|---|---|---|---|---|
| (Dollars in Thousands) | ||||
| Estimated Expenditures | 103.1 | 0 | 48,907 | 48,907 |
| 2019-21 Maintenance Level | 105.6 | 0 | 50,460 | 50,460 |
| Difference from 2017-19 | 2.5 | 0 | 1,553 | 1,553 |
| % Change from 2017-19 | 2.4% | 0.0% | 3.2% | 3.2% |
2019-21 Policy Other Changes |
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| Investment Portfolio Data Delivery | 3.8 | 0 | 3,162 | 3,162 |
| Improving Investment Performance | 3.0 | 0 | 2,055 | 2,055 |
| Data Management Enhancement | 0.0 | 0 | 4,269 | 4,269 |
| 2019-21 Policy Other Changes Total | 6.8 | 0 | 9,486 | 9,486 |
2019-21 Policy Comp Changes |
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| State Public Employee Benefits Rate | 0.0 | 0 | 17 | 17 |
| Non-Rep General Wage Increase | 0.0 | 0 | 1,808 | 1,808 |
| Non-Rep Premium Pay | 0.0 | 0 | 350 | 350 |
| Non-Rep Targeted Pay Increases | 0.0 | 0 | 69 | 69 |
| PERS & TRS Plan 1 Benefit Increase | 0.0 | 0 | 46 | 46 |
| Non-Rep Salary Schedule Revision | 0.0 | 0 | 52 | 52 |
| Investment Officer Compensation | 0.0 | 0 | 1,401 | 1,401 |
| 2019-21 Policy Comp Changes Total | 0.0 | 0 | 3,743 | 3,743 |
2019-21 Policy Transfers Changes |
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| Orca Transit Pass Funding Transfer | 0.0 | 0 | (10) | (10) |
| 2019-21 Policy Transfers Changes Total | 0.0 | 0 | (10) | (10) |
2019-21 Policy Central Services Changes |
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| Archives/Records Management | 0.0 | 0 | 1 | 1 |
| Audit Services | 0.0 | 0 | 7 | 7 |
| Legal Services | 0.0 | 0 | 87 | 87 |
| CTS Central Services | 0.0 | 0 | (11) | (11) |
| DES Central Services | 0.0 | 0 | 5 | 5 |
| OFM Central Services | 0.0 | 0 | 84 | 84 |
| 2019-21 Policy Central Services Changes Total | 0.0 | 0 | 173 | 173 |
| Total Policy Changes | 6.8 | 0 | 13,392 | 13,392 |
| 2019-21 Policy Level | 112.4 | 0 | 63,852 | 63,852 |
| Difference from 2017-19 | 9.3 | 0 | 14,945 | 14,945 |
| % Change from 2017-19 | 9.0% | 0.0% | 30.6% | 30.6% |
Policy Changes
Investment Portfolio Data Delivery
Funding is provided for the board to hire investment officers to improve portfolio investment data analytics and temporary consultants to assist with the board's investment strategy.
Improving Investment Performance
Funding is provided to hire additional investment officers to manage a significant portion of the board's portfolio internally, rather than through intermediaries. These investment officers would be assigned to the real estate and innovation portfolios, focusing on new and evolving investment areas.
Data Management Enhancement
Funding is provided for the transition to a cloud-based data management system, decommissioning of legacy hardware that is not sufficiently secure, and additional software modules for investment risk management and performance attribution.
State Public Employee Benefits Rate
Health insurance funding is provided for state employees who are not represented by a union, who are covered by a bargaining agreement that is not subject to financial feasibility determination, or who are not part of the coalition of unions for health benefits. The insurance funding rate is $977 per employee per month for fiscal year 2020 and $978 per employee per month for fiscal year 2021.
Non-Rep General Wage Increase
Funding is provided for wage increases for state employees who are not represented by a union or who are covered by a bargaining agreement that is not subject to financial feasibility determination. It is sufficient for a general wage increase of 3 percent, effective July 1, 2019, and a general wage increase of 3 percent, effective July 1, 2020. This item includes both general government and higher education workers.
Non-Rep Premium Pay
Funding is provided for increases in premium pay for state employees who are not represented by a union or who are covered by a bargaining agreement that is not subject to financial feasibility determination. Funding is sufficient to support changes in shift differential, call back and standby pay, as well as a 5 percent increase for employees working in King County.
Non-Rep Targeted Pay Increases
Funding is provided for classified state employees who are not represented by a union for pay increases in specific job classes in alignment with other employees.
PERS & TRS Plan 1 Benefit Increase
For eligible Public Employees' and Teachers' Retirement Systems Plan 1 members, this item provides a one-time, ongoing increase of 3 percent, up to a maximum of $62.50 per month.
Non-Rep Salary Schedule Revision
This funds a revised salary schedule for non-represented employees in information technology jobs, in alignment with other state employees.
Investment Officer Compensation
This provides funding for an additional three percent pay increase for investment officers in fiscal year 2020 and another three percent increase in fiscal year 2021.
Orca Transit Pass Funding Transfer
This moves funding for employee transit passes from agencies to WSDOT, which administers the program. The transfer includes both funding added in 2019-21 for expanded access, as well as funding that was provided in the 2017-19 budget.
Archives/Records Management
Agency budgets are adjusted to reflect each agency’s allocated share of charges for the state archives and state records center.
Audit Services
Agency budgets are adjusted to reflect each agency’s allocated share of charges for state government audits.
Legal Services
Agency budgets are adjusted to reflect each agency’s anticipated share of legal service charges.
CTS Central Services
Agency budgets are adjusted to reflect each agency’s allocated share of charges from the Consolidated Technology Services Agency (WaTech) for the Office of the Chief Information Officer, Office of Cyber Security, state network, security gateways, and geospatial imaging services.
DES Central Services
Agency budgets are adjusted to reflect each agency’s allocated share of charges from the Department of Enterprise Services (DES) for campus rent, utilities, parking, and contracts; a capital project surcharge; financing cost recovery; public and historic facilities; real estate services; risk management services; personnel service rates; the Perry Street child care center; and the department’s enterprise applications.
OFM Central Services
Agency budgets are adjusted to reflect each agency’s allocated share of charges from the Office of Financial Management (OFM) for the One Washington project and OFM enterprise systems.
