Inslee asks State Agency to Reduce Income Inequality

OLYMPIA, Wash. (AP) — Gov. Jay Inslee says Washington must reduce the gap between the pay of an average employee and the salaries of corporate executives.

Inslee called on the State Investment Board to help accomplish that goal in his annual State of the State speech Tuesday.

One of the main responsibilities of the board, a state agency not often a point of contention between lawmakers, is to invest and manage the retirement money of public employers and employees. The board manages $103.4 billion in assets right now, according to its website.

The agency's website says as a shareholder in companies, it can vote against the salary of an executive if it's out of line with how well the company performs financially.

But Inslee asked the board to "go further," and use its power to "reduce the widening pay gap between CEOs and their workers."