ADVERTISEMENT
Advertise Here

Spin Control

Washington gets $11.7 million

OLYMPIA - Most days, the revenue news out of the state capital is grim. But Tuesday state officials had a bit of good news: the state is getting $11.7 million in a settlement over the way some accounts in the state pension funds were handled.

State Treasurer James McIntyre and Attorney General Rob McKenna said the state reached a settlement with State Street Bank over a contract dispute for transactions between 1997 and 2007 involving foreign exchanges.

The money goes into the state’s Comingled Trust Fund, which holds pension money for a wide range of public employees, including teachers, cops, firefighters and judges.

The fund has about $53 billion in it, so $11.7 million is a small percent. Still, anything with eight figures can’t be considered chump change.


Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus
« Back to Spin Control

Get blog updates by email

About this blog

Jim Camden is a veteran political reporter for The Spokesman-Review.


Jonathan Brunt is an enterprise reporter for The Spokesman-Review.


Kip Hill is a general assignments reporter for The Spokesman-Review.

Latest comments »

Read all the posts from recent conversations on Spin Control.

Search this blog
Subscribe to this blog
ADVERTISEMENT
Advertise Here