Whats next with investing WAs long-term care fund in stocks

Washington voters approved Senate Joint Resolution 8201, allowing the WA Cares long-term care program to invest payroll taxes in the stock market. With nearly 58% in favor, the amendment lifts restrictions on public investments, which were limited to fixed-income securities. The Washington State Investment Board plans to hire a consultant to explore how to incorporate public equity investments, with recommendations due by next fall. Currently, the WA Cares fund holds $2. 9 billion, collected through a 0.

58% tax on workers' paychecks, and aims to provide a $36,500 lifetime benefit starting July 2026. Supporters argue that investing in the stock market could yield higher returns, thus preventing payroll tax increases and maintaining program solvency. In contrast, opponents caution that such investments might expose taxpayer funds to risks associated with market fluctuations. This measure marks a significant step for the long-term care program established in 2019. The state investment board assumes a 7.

25% return on pension funds, reflecting its long-term investment strategy.