The bill amends RCW 41.50.255 to authorize the director to pay certain expenses from the interest earnings of various retirement system trust funds, including those for public employees, teachers, and law enforcement. The bill specifies that these expenses can include legal, medical, and administrative costs that are primarily aimed at protecting the trust funds or ensuring compliance with relevant statutes. Notably, the language regarding the timeframe for these expenses has been modified by deleting references to the 2025-2027 fiscal biennium.

Additionally, the bill clarifies the definitions of "legal expenses," "medical expenses," and "administrative expenses," providing examples of what each category entails. It also allows for the payment of costs related to investigating fraud and collecting overpayments, with a stipulation that any recovered funds must be returned to the appropriate trust funds. This amendment aims to enhance the financial management and protection of the retirement system trust funds.

Statutes affected:
Original bill: 41.50.255