Entries by ost_admin

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State Treasurer, Prosperity Now Announce Partnership to Study Wealth Inequity in Washington

OLYMPIA – State Treasurer Mike Pellicciotti and Prosperity Now Chief Executive Officer Gary Cunningham today announced a new partnership to review socioeconomic disparities in Washington state and the impact of wealth inequities on the lives of Washingtonians. “It’s clear that growing wealth gaps pose a significant challenge to the future of our state treasury in the […]

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State Treasurer Heads into Debt Refinancing with Strong Ratings Affirmed, Helping Save Washington Millions

OLYMPIA – Since taking office, State Treasurer Mike Pellicciotti took advantage of low interest rates to refinance all state debt eligible for a tax-exempt refinancing under federal law, saving Washingtonians over $290 million in future debt service payments. Tomorrow (Tuesday, 4/26/22), the State Treasurer’s Office plans to refinance an additional $1.4 billion in previously issued […]

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State Treasurer Priority Legislation Headed to the Governor’s Desk

OLYMPIA – The Office of the State Treasurer has three pieces of request legislation and a key budget proviso headed to the Governor’s desk for enactment as the state Legislature concludes the 2022 session. The bills are as follows: Senate Bill 5787, sponsored by Sen. Joe Nguyen (D-White Center), modernizes the state’s Linked Deposit Program […]

Washington Treasurer Mike Pellicciotti Calls for State Treasuries to End Russian Investments

Responding to the ongoing crisis in Ukraine, Washington State Treasurer Mike Pellicciotti today joined a bipartisan coalition of State Treasurers calling for all levels of government to end the practice of public investment into Russian holdings. “Americans must unify to oppose the authoritarian regimes that violently attack our shared democratic institutions and economic stability with […]

Bipartisan Joint Statement of State Treasurers on the Russian Invasion of Ukraine

We, the undersigned State Treasurers, condemn Russia’s unprovoked and unjustified invasion of Ukraine. The Russian invasion is a threat to democratic freedoms and global stability and cannot be tolerated. State governments invest a significant amount of public funds with some invested in Russian-domiciled companies. Actions taken by states can help the people of Ukraine by […]

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Linked Deposit Legislation Headed to the Governor’s Desk

Request legislation from the Office of the State Treasurer to modernize Washington state’s Linked Deposit Program (LDP) passed out of the Washington House of Representatives Friday on a vote of 96-to-2. Sponsored by State Senator Joe Nguyen (D-White Center), Senate Bill 5787 will diversify depositing options to the LDP, which encourages lending to businesses certified […]

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WA529 GET College Savings Plan Gets More Affordable

At this week’s special WA529 Committee meeting, Washington State Treasurer Mike Pellicciotti supported lowering the 2020-2021 Washington State GET unit price from $133 to $122. The WA529 GET program provides families with the opportunity to purchase prepaid college tuition credits and save for future higher education expenses. Participants in the program will get the same amount of […]

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Statement from State Treasurer Mike Pellicciotti on State Pension Funding in Today’s Budget

It is a priority for State Treasurer Mike Pellicciotti that Washington remain on track to fully fund our state pension obligations. Today the Governor signed the legislature’s budget that appropriates $800 million in state funds to reduce the amount of unfunded actuarial accrued liability in the Teachers’ Retirement System plan 1 fund on June 30, 2023. “The people of […]

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State Treasurer Pellicciotti Calls for Legal Cannabis Banking

State Treasurer Mike Pellicciotti today called on the U.S. Senate to pass HR 1996, the SAFE Banking Act of 2021, after it passed the U.S. House of Representatives today. Pellicciotti continues his advocacy on behalf of Washington State so that legal cannabis businesses operating in Washington State can finally use banks and other financial institutions, […]

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Statement from Treasurer Pellicciotti on the American Rescue Plan

State Treasurer Mike Pellicciotti offered the following statement on President Joe Biden signing the American Rescue Plan into law today. Pellicciotti joined with 16 other state treasurers last month to call on Congress to pass this legislation. “I have partnered with state treasurers around the country to advocate that Congress pass the American Rescue Plan, […]