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PERSI reports recovery gains, seeks continued software funding and modest operational increases
Summary
The Public Employee Retirement System of Idaho briefed the Joint Finance-Appropriations Committee on FY2026 budget requests, reporting about $22.0 billion in assets, a funded ratio near 87% and ongoing work on a multi-year pension software upgrade.
The Public Employee Retirement System of Idaho (PERSI) briefed the Joint Finance-Appropriations Committee on its FY2026 budget request and the system’s financial status, including asset growth, funding ratio and a multi-year pension software upgrade.
Frances Lippitt, budget and policy analyst with the Legislative Services Office, summarized PERSI’s organization and budget. PERSI is governed by a five-member retirement board appointed by the governor. Director Mike Hampton and senior staff responded to committee questions.
Key fiscal figures presented included an estimated $22.0 billion in plan assets, approximately 185,000 members in the plan, and pension payments of roughly $245.9 million paid from continuously appropriated funds in FY2024. The presentation said the system’s funded…
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