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SUBSTITUTE
SENATE BILL 5988
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AS
AMENDED BY THE HOUSE
Passed
Legislature - 2001 Regular Session
State of Washington 57th
Legislature 2001 Regular Session
By
READ FIRST TIME 03/08/01.
Establishing
compensation levels for certain employees of the state investment board.
AN
ACT Relating to the state investment board; and amending RCW 43.33A.100 and
43.03.028.
BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF WASHINGTON:
Sec.
1. RCW
43.33A.100 and 1993 c 281 s 50 are each amended to read as follows:
The
state investment board shall maintain appropriate offices and employ such
personnel as may be necessary to perform its duties. Employment by the
investment board shall include but not be limited to an executive director,
investment officers, and a confidential secretary, which positions are exempt
from classified service under chapter 41.06 RCW. Employment of the executive
director by the board shall be for a term of three years, and such employment
shall be subject to confirmation of the state finance committee: PROVIDED,
That nothing shall prevent the board from dismissing the director for cause
before the expiration of the term nor shall anything prohibit the board, with
the confirmation of the state finance committee, from employing the same
individual as director in succeeding terms. Compensation levels for the executive
director, a confidential secretary, and all investment officers,
including the deputy director for investment management, employed by the
investment board shall be established by the ((Washington personnel
resources)) state investment board. The investment board is
authorized to maintain a retention pool, from the earnings of the funds managed
by the board, in order to address recruitment and retention problems. The
compensation levels for investment officers shall be limited to the average of
state funds of similar size, based upon a biennial survey conducted by the
investment board, with review and comment by the joint legislative audit and
review committee. However, in any fiscal year the salary increases granted by
the investment board from the retention pool to investment officers pursuant to
this section may not exceed an average of five percent.
The
investment board shall provide notice to the director of the department of
personnel, the director of financial management, and the chairs of the house of
representatives and senate fiscal committees of proposed changes to the
compensation levels for the positions. The notice shall be provided not less
than sixty days prior to the effective date of the proposed changes.
As
of July 1, 1981, all employees classified under chapter 41.06 RCW and engaged
in duties assumed by the state investment board on July 1, 1981, are assigned
to the state investment board. The transfer shall not diminish any rights
granted these employees under chapter 41.06 RCW nor exempt the employees from
any action which may occur thereafter in accordance with chapter 41.06 RCW.
All
existing contracts and obligations pertaining to the functions transferred to
the state investment board in this 1980 act shall remain in full force and
effect, and shall be performed by the board. None of the transfers directed by
this 1980 act shall affect the validity of any act performed by a state entity
or by any official or employee thereof prior to July 1, 1981.
Sec.
2. RCW
43.03.028 and 1995 c 67 s 1 are each amended to read as follows:
(1)
There is hereby created a state committee on agency officials' salaries to
consist of seven members, or their designees, as follows: The president of the
University of Puget Sound; the chairperson of the council of presidents of the
state's four-year institutions of higher education; the chairperson of the
Washington personnel resources board; the president of the Association of
Washington Business; the president of the Pacific Northwest Personnel Managers'
Association; the president of the Washington State Bar Association; and the
president of the Washington State Labor Council. If any of the titles or
positions mentioned in this subsection are changed or abolished, any person
occupying an equivalent or like position shall be qualified for appointment by
the governor to membership upon the committee.
(2)
The committee shall study the duties and salaries of the directors of the
several departments and the members of the several boards and commissions of
state government, who are subject to appointment by the governor or whose
salaries are fixed by the governor, and of the chief executive officers of the
following agencies of state government:
The
arts commission; the human rights commission; the board of accountancy; the
board of pharmacy; the eastern Washington historical society; the Washington
state historical society; the interagency committee for outdoor recreation; the
criminal justice training commission; the department of personnel; ((the
state finance committee;)) the state library; the traffic safety
commission; the horse racing commission; the advisory council on vocational
education; the public disclosure commission; the state conservation commission;
the commission on Hispanic affairs; the commission on Asian Pacific American
affairs; the state board for volunteer fire fighters and reserve officers;
the transportation improvement board; the public employment relations
commission; the forest practices appeals board; and the energy facilities site
evaluation council.
The
committee shall report to the governor or the chairperson of the appropriate
salary fixing authority at least once in each fiscal biennium on such date as
the governor may designate, but not later than seventy-five days prior to the
convening of each regular session of the legislature during an odd-numbered
year, its recommendations for the salaries to be fixed for each position.
(3) Committee members shall be reimbursed by the department of
personnel for travel expenses under RCW 43.03.050 and 43.03.060.
