Teachers' retirement system funds—Annual interest to be credited.
From interest and other earnings on the moneys of the Washington state teachers' retirement system, and except as otherwise provided in *RCW 41.32.499, at the close of each fiscal year the department shall make an allowance of regular interest on the balance which was on hand at the beginning of the fiscal year in each of the teachers' retirement system funds as they may deem advisable; however, no interest shall be credited to the expense fund.
[ 1992 c 212 s 6; 1991 c 35 s 36; 1973 1st ex.s. c 189 s 7; 1955 c 274 s 5; 1947 c 80 s 19; Rem. Supp. 1947 s 4995-38. Prior: 1941 c 97 s 6, part; 1939 c 86 s 6, part; 1937 c 221 s 7, part; Rem. Supp. 1941 s 4995-7, part. Formerly RCW 41.32.190.]
NOTES:
Intent—1991 c 35: See note following RCW 41.26.005.
Severability—1973 1st ex.s. c 189: "If any provision of this 1973 amendatory act, or its application to any person or circumstance is held invalid, the remainder of the act, or the application of the provision to other persons or circumstances is not affected." [ 1973 1st ex.s. c 189 s 12.]