(1) The state investment board has the full power to invest, reinvest, manage, contract, sell, or exchange investment moneys in the pension funding stabilization account. The pension funding stabilization account shall be considered to be a public pension or retirement fund within the meaning of Article XXIX, section 1 of the state Constitution, for the purpose of determining eligible investments and deposits of the moneys therein. All investment and operating costs associated with the investment of money shall be paid pursuant to RCW 43.33A.160 and 43.84.160. With the exception of these expenses, the earnings from the investment of the money shall be retained by the account.

     (2) All investments made by the state investment board shall be made with the exercise of that degree of judgment and care pursuant to RCW 43.33A.140 and the investment policies established by the state investment board.

     (3) As deemed appropriate by the state investment board, moneys in the account may be commingled for investment with other funds subject to investment by the board.

[2006 c 56 § 2.]

NOTES:

     Effective dates -- 2006 c 56: See note following RCW 41.45.230.