State Investment Board - Current Law
RCW 43.33A, 43.84
The State Investment Board manages investments for retirement, industrial insurance, and permanent and other funds. The retirement funds include the defined benefit and defined contribution pension plans for teachers, school employees, law enforcement officers, firefighters, and public employees. Additionally, the State Investment Board manages investments for the Higher Education Retirement Plan Supplemental Benefit Fund, Deferred Compensation Plan, Guaranteed Education Tuition program, Washington State Opportunity Scholarship Endowment Fund, and the Developmental Disabilities Endowment Trust Account. The duty of the board is to diversify investments and maximize returns, at a prudent level of risk, for the exclusive benefit of fund beneficiaries.
Agency Mission
The State Investment Board invests with integrity, prudence, and skill to meet or exceed the financial objectives of those we serve.
| Request | 91,525,000 |
|---|---|
| Net change from current biennium | 7,912,000 Increase |
| Percent change from current biennium | 9.5% Increase |
Operating Budget: Summary
Appropriated Funds
| 2023-25 Appropriations | Appropriated Funds | Expenditures | |||
|---|---|---|---|---|---|
| Amount | Estimated Balance | 2021-23 Actual | 2023-25 Estimated | 2025-27 Proposed | |
| Industrial Insurance Premium Refund - Nonappropriated | 21,000 | ||||
| Info Tech Invest Rev Acct - Nonappropriated | |||||
| Opportunity Scholarship Cust Acct - Nonappropriated | 11,003,914 | ||||
| 83,613,000 | State Investment Board Expense Acct - State | 60,440,710 | 83,613,000 | 91,525,000 | |
| 83,613,000 | Total Appropriated Funds | 71,465,624 | 83,613,000 | 91,525,000 | |
Non-Appropriated Funds
Operating Budget: Program Summary
| Program Title | Actual | Estimated | Proposed | ||
|---|---|---|---|---|---|
| Actual | Estimated | Estimated | Proposed | Proposed | |
| Annual Total | 32,875,908 | 32,738,195 | 14,671,004 | 45,362,000 | 46,163,000 |
Operating Budget: Change from Preceding Biennium
| Actual | Estimated | Proposed | |||
|---|---|---|---|---|---|
| Amount | Percent | Amount | Percent | Amount | Percent |
| 9,024,423 | 17.5% | (13,052,511) | (21.6%) | 44,115,801 | 93.1% |
Employment Summary
| Actual | Estimated | Proposed | |||
|---|---|---|---|---|---|
| 2022-23 Actual | 2023-24 Estimated | 2024-25 Estimated | 2025-26 Proposed | 2026-27 Proposed | |
| FTE Staff Years | 113.4 | 113.8 | 116.1 | 130.5 | 130.5 |
