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PERSI reports 87% funded ratio, plans for pension software upgrade and staffing investments
Summary
The Public Employee Retirement System of Idaho told the Joint Finance‑Appropriations Committee it is about 87% funded, reported a two-year recovery with roughly a 9% return last year, and requested continued funding for a multi‑year pension‑software upgrade and staffing to support member services.
Frances Lippert, a budget and policy analyst with the Legislative Services Office, presented the Public Employee Retirement System of Idaho’s (PERSI) budget overview and the system’s FY2026 requests to the committee.
Lippert said PERSI administers defined benefit and defined contribution plans, the unused sick leave fund, and is governed by a five‑member retirement board appointed by the governor. The agency is authorized 81 full‑time positions across offices in Boise, Pocatello and Coeur d’Alene and generally fills about 89% of those positions. The portfolio investment program is funded by the special portfolio fund; pension payments are continuously appropriated and in recent years have ranged from about $243.9 million to $282.6 million annually.
Lippert and Director Mike Hampton reviewed recent appropriation history. PERSI had a $3 million one‑time appropriation to upgrade its pension system in…
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