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PERSI reports recovery, 87% funded ratio and seeks routine software and hardware spending
Summary
The Public Employee Retirement System of Idaho (PERSI) briefed JFAC on operations, recent returns, and a multi‑year pension software upgrade; the fund reported an 87% funded ratio and a roughly 9% annual return in its recent recovery year.
The Public Employee Retirement System of Idaho (PERSI) presented its FY2024 operating budget, continued pension software upgrade and fund status to the Joint Finance‑Appropriations Committee, reporting a funded ratio of about 87% and recent investment returns that support long‑term sustainability.
The briefing matters because PERSI administers retirement benefits for roughly 185,000 members and its funded ratio and investment performance influence contribution rates and long‑term liabilities that affect state and local employers and employees.
Legislative analyst Frances Lippitt summarized the agency’s structure and recent appropriations: PERSI administers a defined‑benefit pension and a defined‑contribution (PERSI Choice 401(k)) plan, is directed by a five‑member retirement board appointed by the governor, and operates with authorized staffing of 81 full‑time positions across Boise, Pocatello…
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