State recovers $11.7 million for Washington’s public pension funds
OLYMPIA -- Washington’s investment fund for several public pension systems will receive $11.7 million from State Street Bank in a settlement agreement announced today by Washington State Treasurer James L. McIntire, the Washington State Investment Board (WSIB) and the Attorney General’s Office.
This negotiated resolution stems from a contract dispute over the pricing of foreign exchange transactions executed between 1997 and 2007 while State Street was the custody bank for the WSIB.
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