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Thursday, July 9, 2020  Spokane, Washington  Est. May 19, 1883
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Settlement puts $11.7 million in pension fund

Washington's pension fund reserves will get a $11.7 million boost from a settlement announced today by Treasurer James McIntire.

The agreement with State Street Bank resolves a dispute over foreign exchange transactions executed between 1997 and 2007, when the bank had custody of funds managed by the Washington State Investment Board, according to a statement from McIntire, who sits on the board.

The funds will be deposited in the Commingled Trust Fund, the $53 billion pool backing pensions for Washington state and local government workers.

 



Bert Caldwell
Bert Caldwell oversees production of the opinion pages, including writing editorials, and editing and selecting letters, columns and cartoons.