Revised Code of Washington

Wash. Rev. Code § 41.34.120 (2026)

Money, property, income held in trust

✓ current as of May 2026

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All moneys in members' accounts, all property and rights purchased therewith, and all income attributable thereto, shall be held in trust by the state investment board, as set forth under RCW 43.33A.030, for the exclusive benefit of the members and their beneficiaries.

[ 1998 c 341 s 306.]

Notes:

Effective date—1998 c 341: See note following RCW 41.34.060.

Notes of Decisions

Cited in 2 cases, 2001–2001 · leading case: Washington Fed'n of State Employees v. State, 26 P.3d 1003 (Wash. Ct. App. 2001).

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Washington Fed'n of State Employees v. State, 26 P.3d 1003 (Wash. Ct. App. 2001). “In RCW 41.34.120, the Legislature specifically provided that a trust relationship is established concerning the defined contribution portion of PERS III: “All moneys in members’ accounts, all property and rights purchased therewith, and all income attributable thereto, shall be…”

Fed'n of State Employees v. State, 26 P.3d 1003 (Wash. Ct. App. 2001). “In RCW 41.34.120, the Legislature specifically provided that a trust relationship is established concerning the defined contribution portion of PERS III: "All moneys in members' accounts, all property and rights purchased therewith, and all income attributable thereto, shall be…”

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