59-1301. PUBLIC EMPLOYEE RETIREMENT SYSTEM CREATED — PURPOSE — DUTIES OF FIDUCIARIES OF RETIREMENT FUND. (1) A retirement and disability benefit system is created and placed under the management of a retirement board for the purpose of providing a retirement system and other benefits for public employees in the state of Idaho under this chapter. […]
59-1302. DEFINITIONS. (1) As used in this chapter, each of the terms defined in this section shall have the meaning given in this section unless a different meaning is clearly required by the context. (2) "Active member" means any employee who is not establishing the right to receive benefits through his or her employer’s participation […]
59-1303. POLICE OFFICER MEMBER STATUS. (1) As used in this chapter, each of the terms used in this section shall have the meaning given in this section unless a different meaning is clearly required by the context. (2) Police officer membership status for retirement purposes may be fixed only by law. (3) Members holding or […]
59-1304. RETIREMENT BOARD — APPOINTMENT. (1) There is hereby created in the office of the governor a governing authority of the system to consist of a board of five (5) persons known as the retirement board. Each member of the board shall be appointed by the governor to serve a term of five (5) years. […]
59-1305. POWERS AND DUTIES OF BOARD — INDEMNIFICATION. (1) The board shall have the power and duty, subject to the limitations of this chapter, of managing the system. It shall have the powers and privileges of a corporation, including the right to sue and be sued in its own name as such board. Members of […]
59-1305A. CRIMINAL HISTORY CHECKS. (1) The public employee retirement system of Idaho (PERSI), through the cooperation of the Idaho state police, shall establish a system to obtain a criminal history check on individuals, including but not limited to classified and nonclassified employees as defined in section 67-5302, Idaho Code, those who will have access to […]
59-1306. CONFORMITY WITH FEDERAL TAX CODE TO MAINTAIN QUALIFIED PLAN TAX STATUS. Chapter 13, title 59, and chapter 14, title 72, Idaho Code, shall be administered in a manner so as to comply with the requirements of 26 U.S.C. section 401(a)(8), (9), (16), (25), (31), (36) and (37) and with the vesting requirements described in […]
59-1307. AGREEMENTS WITH OTHER RETIREMENT SYSTEMS. The board may enter into agreements with the boards or other authorities of other retirement systems operated by the state of Idaho or by political subdivisions to protect the retirement rights or benefits of employees who may alter their membership status by changing employment from one agency to another. […]
59-1308. SUPPLEMENTAL BENEFIT PLAN — CONTRIBUTIONS AND EXPENSES OF THE SUPPLEMENTAL BENEFIT PLAN — INDEMNIFICATION. (1) The state shall sponsor and the board shall administer one (1) or more supplemental benefit plans to be used for allocation of extraordinary gains as provided in section 59-1309, Idaho Code, and for voluntary contributions of active members. The […]
59-1309. ALLOCATION OF EXTRAORDINARY GAINS. (1) At the close of each fiscal year, the board shall determine whether the fund has experienced extraordinary gains. If extraordinary gains exist the board may allocate all or part of them as set forth in this section. In determining whether extraordinary gains should be allocated, the board shall exercise […]
59-1310. ADMISSIBILITY IN EVIDENCE OF PHOTOREPRODUCED COPIES OF RECORDS OR DOCUMENTS MAINTAINED BY THE SYSTEM — DESTROYING THE ORIGINAL. Copies of records or documents maintained on microfilm, microfiche, computer imagery or other photoreproductive material of archival quality by the retirement system shall be as admissible in evidence as the original itself in any legal, judicial […]
59-1311. PUBLIC EMPLOYEE RETIREMENT FUND CREATED — ADMINISTRATION — PAYMENT OF BENEFITS — PERPETUAL APPROPRIATION. (1) There is hereby established in the state treasury a special fund, the "Public Employee Retirement Fund," which shall be separate and apart from all public moneys or funds of this state and shall be administered under the direction of […]
59-1312. SELECTION OF FUNDING AGENT(S) — INVESTMENT OF ASSETS — TAX EXEMPTION. (1) The board shall select the funding agent(s) and establish a medium for funding, which may be a self-administration pension trust fund or a group annuity contract, or combination thereof. The contract shall authorize the funding agent(s) to hold and, subject to the […]
59-1313. TRUST AGREEMENT — AMENDED TO COMPLY WITH THIS CHAPTER. The board may amend its trust agreement with the funding agent to comply with the requirements of this chapter. History: [(59-1313) 59-1344, added 1967, ch. 115, sec. 9, p. 222; am. and redesignated 1990, ch. 231, sec. 11, p. 624.]
59-1314. RULES — PROCEDURES FOR HEARINGS PRIOR TO APPEALS — APPEALS. (1) Subject to other provisions of this chapter and pursuant to the policy and standards set out in section 59-1301, Idaho Code, the board shall have the power and authority to adopt, amend or rescind such rules and administrative policies as may be necessary […]
59-1315. AMOUNT, TERMS AND CONDITIONS OF REVISED BENEFITS ARE TO BE PROSPECTIVE ONLY UNLESS OTHERWISE PROVIDED. As the amount, terms and conditions of benefits may be revised from time to time the application of such revisions shall be prospective only and not retrospective or retroactive unless otherwise provided by statute. Accordingly, unless otherwise provided, a […]
59-1316. MEMBER’S RETIREMENT RECORDS CONFIDENTIAL. (1) Each member shall furnish the board with such information as the board shall deem necessary for the proper operation of the system. As provided in section 74-106, Idaho Code, information contained in the retirement system mortgage portfolio loan documents and in each member’s retirement system records is confidential and […]
59-1317. RIGHTS TO BENEFITS INALIENABLE. (1) The right of a person to any benefits under this chapter and the money in any fund created by this chapter shall not be assignable or subject to execution, garnishment or attachment or to the operation of any bankruptcy or insolvency law. (2) Notwithstanding subsection (1) of this section, […]
59-1318. RIGHTS IN ASSETS OF SYSTEM LIMITED. No particular person, group of persons or entity shall have any right in any specific portion of the assets of the system other than such undivided interest in the whole of such assets as is specified in this chapter. History: [(59-1318) 1963, ch. 349, Art. 9, sec. 4, […]
59-1319. APPROVED DOMESTIC RETIREMENT ORDERS — REQUIREMENTS. (1) An approved domestic retirement order must meet the following requirements: (a) Clearly specify that such order applies to the retirement system; (b) Clearly specify the effective date of the order, which is the date of divorce or the date of an earlier property settlement agreement incorporated into […]
