Other LanguagesThe permanent common school fund, public pension and retirement funds, and the industrial insurance trust funds may be invested in securities lending agreements and reverse repurchase agreements pursuant to amendments to the Washington Constitution which allow such funds to be invested as authorized by law.
Under the provisions of § 9, chapter 255, Laws of 1961, if after an examination of and report on the condition of the firemen's pension fund by an actuary, it is determined that the condition of the fund is such as not to require all or part of the millage levy therein provided for, such millage may be levied and used for another municipal purpose.
RCW 41.18.060 gives the municipal firemen's pension board discretion to provide a disabled fireman with medical, hospital and nursing care as long as the disability exists.
1. Firemen employed prior to January 1, 1947, are entitled to have their payroll deduction for support of the Firemen's Pension Fund reduced from 5% to 4% upon becoming eligible for retirement and continuing active employment. 2. If a five percent deduction has been erroneously continued the pension board may legally reimburse the fireman for the excessive deduction from the pension fund.