Washington Administrative Code Title 287 - Investment Board, State
The Washington Administrative Code (WAC) Title 287 is dedicated to the State Investment Board. This title contains the regulations governing the operations, responsibilities, and ethical conduct of the Washington State Investment Board (WSIB).
The Washington State Investment Board (WSIB) is an independent board of trustees with the critical fiduciary responsibility of managing the investments for various state retirement plans and other public funds. Its primary goal is to achieve strong, long-term investment returns to ensure the financial health of these funds, thereby benefiting public employees, teachers, firefighters, law enforcement officers, and other beneficiaries.
Key areas covered in WAC Title 287 include:
Board Organization and Administration (Chapter 287-01): This chapter outlines the structure of the WSIB, its purpose, the composition of the board (including voting and non-voting members, such as representatives from various public employee pension systems, legislators, and investment professionals), and its general operational procedures. It describes how the WSIB is organized to efficiently manage a diverse portfolio of assets.
Public Records (Chapter 287-02): Details the rules and procedures for public access to the WSIB's records, ensuring transparency in its operations.
Conflict of Interest (Chapter 287-04): This is a crucial chapter that sets forth strict rules of conduct and conflict of interest policies for board members and employees. It aims to prevent any situations where personal interests could influence investment decisions, ensuring the highest standard of professional conduct and fiduciary duty.
State Environmental Policy Act - Interpretation (Chapter 287-06): Addresses how the WSIB interprets and complies with the State Environmental Policy Act (SEPA) in relation to its authorized activities.
The WSIB manages a vast portfolio that includes investments in public equity, private equity, real estate, tangible assets, fixed income, and more. Its investment strategies are designed to be long-term and diversified to withstand market fluctuations and meet the financial objectives of the funds it manages. The regulations in Title 287 underpin the integrity, transparency, and effective management of these significant public assets.
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