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PERSI reports $22 billion in assets, 87% funded ratio and requests for software upgrade funding
Summary
The Public Employee Retirement System of Idaho (PERSI) presented its FY2026 budget request to JFAC, reporting a funded ratio near 87 percent, about $22 billion in assets, ongoing administration costs and a multi-year pension software upgrade with a FY2026 funding request.
Frances Lippitt, a budget and policy analyst with the Legislative Services Office, told the Joint Finance-Appropriations Committee that the Public Employee Retirement System of Idaho (PERSI) is funded by contributions and investment earnings and administers both defined-benefit and defined-contribution plans. "PERSI is directed by a five-member retirement board whose members are appointed by the governor for five-year terms," Lippitt said during her allotted remarks.
Lippitt said PERSI has 81 authorized full-time positions, averaged about 73.8 filled FTP over five years and typically has a historic fill rate near 89 percent. The agency expended $11.4 million from appropriated funds in FY2024; personnel accounted for about 56.6 percent of that total while operating expenditures (including the multi-year pension software upgrade) made up much of the remainder.…
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