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PERSI reports 9% recovery return, 87% funded ratio and requests software and IT funding in FY2026
Summary
Public Employee Retirement System of Idaho (PERSI) officials told JFAC the fund ended the fiscal year with roughly $22 billion in assets, about 87% funded, and reported a 9% return during two years of market recovery. PERSI seeks one‑time funding for continued pension software upgrades and IT hardware for FY2026.
The Public Employee Retirement System of Idaho (PERSI) briefed the Joint Finance‑Appropriations Committee on its operations, funding status and FY2026 requests, saying the system is in strong financial condition but continues to invest in technology and member services.
Frances Lippitt, a budget and policy analyst with the Legislative Services Office, reviewed PERSI’s organization and recent appropriations. She said PERSI operates under a five‑member retirement board, had authorized 81 full‑time staff and averaged a roughly 89% position fill rate in recent years. Lippitt told the committee PERSI expended $11.4 million from appropriated funds in FY2024, with personnel costs accounting for about 56.6% of that total and operating expenditures—nearly half of which were for an ongoing…
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