From interest and other earnings on the moneys of the Washington state teachers' retirement system, and except as otherwise provided in *RCW 41.32.499, at the close of each fiscal year the department shall make an allowance of regular interest on the balance which was on hand at the beginning of the fiscal year in each of the teachers' retirement system funds as they may deem advisable; however, no interest shall be credited to the expense fund.
RCW 41.50.215
Teachers' retirement system funds—Annual interest to be credited.
Applied in 3 court decisions — leading case Probst ex rel. Class of Similarly Situated Individuals v. Department of Retirement Systems (2012)
Most recently applied in Fowler v. Guerin (March 2019)
1992 c 212 s 6; 1991 c 35 s 36; 1973 1st ex.s. c 189 s 7; 1955 c 274 s 5; 1947 c 80 s 19; Rem
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.