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PERSI reports 9% recent return, 87% funded ratio and seeks software‑upgrade funding
Summary
At JFAC, the Public Employee Retirement System of Idaho (PERSI) reported about a 9% investment return during recent recovery years, an 87% funded ratio, a 10.7‑year amortization period and a FY2026 request including another year of pension‑system software upgrade funding.
Legislative analysts and PERSI leadership briefed the Joint Finance‑Appropriations Committee on the retirement system’s finances, staffing and a multi‑year pension software upgrade the agency is continuing to fund.
Frances Lippitt, a budget and policy analyst with the Legislative Services Office, summarized PERSI’s organizational structure, noting the system administers a defined‑benefit plan and a defined‑contribution option and is governed by a five‑member retirement board appointed by the governor. Lippitt said PERSI has authorization for 81 full‑time positions across offices in Boise, Pocatello and Coeur d’Alene, an average personnel appropriation of about $6,200,000 and a continuously appropriated pension‑payment stream that totaled about…
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