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PERSI reports 9% return and 87% funded ratio; seeks software upgrade funds and limited enhancements
Summary
The Public Employee Retirement System of Idaho (PERSI) told JFAC the fund returned about 9% over the recovery period, is roughly 87% funded, and requested both ongoing and one‑time funds for software upgrades, IT hardware and board travel.
Frances Lippitt, a budget and policy analyst with the Legislative Services Office, presented PERSI’s budget and program structure to the committee, noting the system provides defined‑benefit and defined‑contribution plans, administers unused sick leave provisions, and is overseen by a five‑member retirement board.
Director Mike Hampton described operational results and fiscal condition. Hampton said the fund had “about a 9% return” over the last year and that the fund ended the year “a little over $22,000,000,000” with about 185,000 members and roughly 870 participating employers. He told the committee the funded ratio was about 87% and that the board recommended a 1% automatic post‑retirement adjustment plus a 0.3%…
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