reglab/statecodes huggingface dataset:
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.549 - DEFINED BENEFIT DOLLAR LIMITATION

Current through August 31, 2023
The "defined benefit dollar limitation" is one hundred sixty thousand dollars ($160,000), as adjusted, effective January 1 of each year thereafter, under Section  415(d)  of the IRS Code in such manner as the Secretary shall prescribe, and payable in the form of a straight life annuity. A limitation as adjusted under Section  415(d)  will apply to limitation years ending with or within the calendar year for which the adjustment applies. The "maximum permissible benefit" is the defined benefit dollar limitation (adjusted where required, as provided in Subsection  549.01  and, if applicable, in Subsections  549.02  through  549.04  of these rules). (3-31-22)
01.
Less Than Ten Years of Service
. If the participant has fewer than ten (10) years of participation in the plan, the defined benefit dollar limitation shall be multiplied by a fraction: (3-31-22)
a. The numerator of which is the number of years (or part thereof) of participation in the plan; and (3-31-22)
b. The denominator of which is ten (10). (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.550 - COMPUTATION OF BENEFITS FOR EMPLOYEES OF WITHDRAWN EMPLOYER

Current through August 31, 2023
01.
PERSI's Responsibility
. PERSI's responsibility to a withdrawing political subdivision or governmental entity or its employees is limited to the vested accrued actuarial benefits of the system's members upon the date of complete withdrawal, Section  59-1326(10), Idaho Code. (3-31-22)
02.
Withdrawal Liability Calculations
. On the occasion that a withdrawing political subdivision or governmental entity fails to pay, in full with accrued interest from date of withdrawal, the withdrawal liability calculated in accordance with Section  59-1326(7), Idaho Code, PERSI shall exhaust all efforts to collect the outstanding withdrawal liability as follows: (3-31-22)
a. Collect the full withdrawal liability from withdrawing political subdivision or governmental entity at date of withdrawal. If full withdrawal liability is not paid, then; (3-31-22)
b. Contract with withdrawing political subdivision or governmental entity, in accordance with section  59-1326(9)   and file a lien on the assets of the withdrawing political subdivision or governmental entity. If scheduled payments are not timely made or assets are insufficient or unavailable, then; (3-31-22)
c. PERSI will pursue collection efforts against the authorizing state agency, political subdivision or governmental entity that caused the withdrawing political subdivision or governmental entity to be formed. If these collection efforts are ineffective, then; (3-31-22)
d. PERSI will cause an actuarial study to be performed for the withdrawing political subdivision or governmental entity and its employees to determine the actuarial value of the accrued benefits at time of withdrawal and will reduce an employee's benefit to match funded status. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.551 - COMPUTING VALUE OF SICK LEAVE

Current through August 31, 2023
For those members who accrue sick leave based upon each month of service, the rate of pay for purposes of computing the monetary value of a retired member's unused sick leave as outlined in Sections  59-1365,  67-5333, and  33-2109A, Idaho Code, shall be the base hourly rate of compensation reported by the employer during the month of separation from employment prior to retirement, not including any temporary increases, bonuses, or payoffs. For those members employed on a contract basis under Section  33-1228, Idaho Code, the rate of pay for purposes of computing the monetary value of a retiring member's unused sick leave based upon each month of service shall be determined at a daily rate by dividing the annual contract amount by the required days of work. No temporary increases, bonuses or payoffs shall be included in the contract amount. Where the daily rate is affected by changes in the work week such as adoption of a four (4) day work week or similar events, adjustments shall be made to convert the daily rate to maintain equity within the pool. No other forms of leave may be converted to sick leave or otherwise considered in computing the value of unused sick leave. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.552 - SICK LEAVE FUNDING RATES

Current through August 31, 2023
The sick leave pools shall be funded by employer contributions as follows: (3-31-22)
01.
State Agencies and Junior College Districts
. All employer groups participating in the pools established by Sections  33-2109A  and  67-5333, Idaho Code, shall contribute point sixty-five percent (.65%) of employee covered payroll. (3-31-22)
02.
Schools
. All employer groups participating in the pool established by Section  33-1228, Idaho Code, shall contribute the percentage of employee covered payroll based on the number of days of paid sick leave permitted during the contract year for certified teachers as set forth in the following table:
Beginning:
July 1, 2006
9-10 days
1.16%
11-14 days
1.26%
More than 14 days
Individual rate to be set by the Retirement Board based on current cost and actuarial data and reviewed annually
Where a four (4) day work week or similar policies have been adopted, adjustments shall be made to convert the number of days of paid sick leave to the contribution level necessary to maintain equity within the pool. (3-31-22)
03.
Subdivisions
. All political subdivision or government entity groups participating in the pool established by Section  59-1365, Idaho Code, shall make contributions as provided in Section  578. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.553 - LIMITATION ON INSURANCE PROGRAMS

Current through August 31, 2023
The health, accident, and life insurance programs maintained by state agencies, political subdivisions or government entities as outlined in Sections  59-1365,  33-1228, and  33-2109A, Idaho Code, are limited to plans where the policy holder is the state agency, political subdivision or government entity or a consortium of state agencies, political subdivisions or government entities. Insurance programs outlined in Section  67-5333, Idaho Code, shall be maintained by the state agency, political subdivision or government entity. The board may require plans to sign an agreement before participating. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.554 - PAYMENT OF INSURANCE PREMIUMS

Current through August 31, 2023
Upon certification by the state agency, political subdivision or government entity and the insurance carrier that a plan qualifies under Section  553  of this subchapter, the board may pay the monthly premiums for a retired member using unused sick leave account funds as prescribed by Idaho Code. (3-31-22)
01.
Adjustments
. Coverage and premium changes or adjustments must be submitted to PERSI no less than thirty (30) days prior to their effective date unless PERSI has previously agreed in writing to a shorter period. (3-31-22)
02.
Duration of Payments
. Premium payments will continue to be made from the unused sick leave account until credits are insufficient to make a premium payment, or until the retiree's death, whichever first occurs. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.555 - SEPARATION BY REASON OF RETIREMENT

Current through August 31, 2023
Unused sick leave benefits are credited only to employees who are eligible to retire at the time they separate from the state agency, political subdivision or government entity. When an employee separates from service and does not immediately retire, unused sick leave benefits are credited to the member but not available for use unless the member actually retires without intervening employment resulting in PERSI participation. The existence of available unused sick leave credits does not necessarily mean they are usable. A member must also be eligible to participate in the retiree plan offered by the state agency, political subdivision or government entity from which the member retired. Except for school district employees transferring from one (1) district to another, unused sick leave credits may not be transferred from one (1) state agency, political subdivision or government entity to another. If a member negates their retirement under Section  541  and returns to work for a new PERSI state agency, political subdivision or government entity, unused sick leave credits are also negated and eligibility for unused sick leave credits must be reestablished with the new state agency, political subdivision or government entity. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.556 - PROHIBITION AGAINST CASH OPTION

Current through August 31, 2023
All state agencies, political subdivisions or government entities participating in any PERSI administered sick leave pool are prohibited from offering or permitting any employee to convert unused sick leave to cash, other forms of leave, or any other benefit, even if the employee is not eligible to receive credits. Failure to comply with this prohibition will result in the state agencies, political subdivisions or government entities inability to participate in PERSI administered unused sick leave pools. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.576 - PARTICIPATION IN SUBDIVISION UNUSED SICK LEAVE POOL

Current through August 31, 2023
Any PERSI state agency, political subdivision or government entity meeting the following requirements may elect to participate in the unused sick leave pool authorized by Section  59-1365, Idaho Code: (3-31-22)
01.
No Current Plan
. The state agency, political subdivision or government entity does not participate in any other statutorily created plan that offers benefits for unused sick leave, including but not limited to, those plans created under Sections  33-1228,  33-2109, and  67-5333, Idaho Code. (3-31-22)
02.
All Inclusive Participation
. All of a participating state agencies, political subdivisions or government entities employees who are PERSI members and who accrue sick leave must be participants in the plan, except that state agencies, political subdivisions or government entities may exclude certain distinctive classes of employees for legitimate business reasons. For example, a city could exclude employees covered by a collective bargaining agreement, or a county may choose to exclude elected officials. (3-31-22)
03.
No Other Options for Unused Sick Leave
. No employee may be given any option to receive benefits from unused sick leave other than through this plan. For example, no employee, other than those properly excluded under Subsection  576.02, may be given the option of exchanging sick leave for cash or other forms of payment or leave. (3-31-22)
04.
Fixed Annual Accrual of Sick Leave
. State agency, political subdivision or government entity must comply with a policy that offers a fixed amount of sick leave annually that is applicable to all employees or employee groups. A "personal leave" option that fails to distinguish between sick, vacation, or other forms of leave is not permitted. (3-31-22)
05.
Medicare Eligible Retirees
. State agencies, political subdivisions or government entities plan must provide coverage to all retired employees eligible for unused sick leave credits, including retirees that become Medicare eligible. (3-31-22)
06.
Annual Application
. State agency, political subdivision or government entity must annually update and submit an application for participation in the Subdivision Unused Sick Leave Pool on the form prescribed by PERSI. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.577 - OPERATION OF SUBDIVISION POOL

Current through August 31, 2023
Upon separation from employment by retirement, in accordance with Chapter 13, Title 59, Idaho Code, every employee of a participating state agency, political subdivision or government entity shall, upon payment by the state agency, political subdivision or government entity under Section  578, receive a credit for unused sick leave in the same manner and under the same terms as provided in Section  67-5333(1), Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.578 - FUNDING OF SUBDIVISION POOL

Current through August 31, 2023
Participating state agencies, political subdivisions or government entities shall, within ten (10) days of retiree's last day in pay status, pay to PERSI a sum equal to the retiree's unused sick leave credit, together with any administrative fees the board may require. Investment earnings on funds paid into this pool will remain in the pool, together with any reversions due to the death of a retiree, and may be used by the board to pay some or all administrative costs. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.579 - TERMINATION, WITHDRAWAL, OR REMOVAL FROM SUBDIVISION POOL

Current through August 31, 2023
Any state agency, political subdivision or government entity failing to meet the requirements of participation provided by Section  576  shall be terminated from participation in the Subdivision Pool. Any state agency, political subdivision or government entity failing to meet the funding requirements provided by Section  578  shall be terminated from participation in the Subdivision Pool, provided however, a state agency, political subdivision or government entity may submit a detailed explanation for its failure to meet the funding requirements as required in Section  578  and subject to PERSI approval. State agencies, political subdivisions or government entities that have withdrawn or have been terminated shall not be allowed to rejoin. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.600 - PAYMENT DATE OF RETIREMENT ALLOWANCE FOR FRF MEMBERS

Current through August 31, 2023
A paid firefighter who retires under the provisions of Chapter 14, Title 72, Idaho Code, is entitled to a retirement allowance computed from the date following separation from employment, payable at the end of the calendar month following separation from employment. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.601 - FIREFIGHTER RETIREMENT ALLOWANCE

Current through August 31, 2023
Notwithstanding Sections  525  and  526  of this subchapter, the retirement allowances of firefighter members, as defined by Section  59-1391(b), Idaho Code, shall be determined pursuant to the provisions of Chapter 14, Title 72, Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.602 - REEMPLOYMENT OF RETIRED FRF FIREFIGHTER

Current through August 31, 2023
A paid firefighter retired under the provisions of Chapter 14, Title 72, (FRF), Idaho Code, who returns to employment as a paid firefighter with the same fire department from which retired shall be considered reemployed in the manner provided for PERSI members by Section  59-1356(1), Idaho Code. Retirement benefits shall then terminate and contributions shall again commence under conditions specified prior to retirement. The terminated benefit shall resume upon subsequent retirement with adjustments made in the manner prescribed by Section  59-1356(1), Idaho Code, as they would apply to the member's retirement benefit entitlement computed under the provisions of Chapter 14, Title 72, Idaho Code.
Statutory References: Section  59-1356, Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.625 - PURCHASE OF SERVICE GENERALLY

Current through August 31, 2023
No member may purchase more than forty-eight (48) months of membership service, whether purchased under Section  59-1362, or  59-1363, Idaho Code, or a combination thereof. In all cases, the cost of purchasing service shall be the full actuarial costs, as determined by the board, of providing additional benefits resulting from the purchased service. Service may only be purchased at the time of retirement. In no event can a member revoke a purchase of service after payment has been made. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.626 - TIME OF RETIREMENT

Current through August 31, 2023
Within ninety (90) days before a member's effective date of retirement, the member may request the cost of service to be purchased. Costs provided for purchased service are valid only for the effective date requested. Purchased service will be calculated into the member's benefit only to the extent that it is paid by the effective date. In no event shall service be credited for which payment has not been made. Service may be purchased with after-tax dollars or with eligible rollover distributions. The member's service class at the time of purchase determines the class of service that may be purchased. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.627 - RETIREMENT DELAYED OR NEGATED AFTER PURCHASE

Current through August 31, 2023
If a member purchases service and thereafter revokes their application for retirement or negates their retirement as provided in Rule  541, the contributions made to purchase the service shall remain in the system until a distributable event occurs. If the distributable event results in payment of a monthly retirement benefit or an optional death benefit, the purchase price of the service previously purchased will be recalculated based on factors existing on the date the new benefit becomes effective. If, based on the new factors, the purchase price is higher than previously determined, the number of months purchased will be reduced to reflect the higher cost unless the member elects to pay the difference. If the purchase price is lower, the difference will be paid to the member as a lump-sum payment within sixty (60) days after the date of retirement unless the member elects to convert the difference into additional months and can do so without exceeding the forty-eight (48) month limit, the IRS limit referenced in Subsection  705.05, or any other statutory limitation, including the limitation in Section  59-1342(6), Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.628 - TREATMENT OF PURCHASE OF SERVICE CONTRIBUTIONS

Current through August 31, 2023
Contributions made for purposes of purchasing service, and interest earnings thereon, are not considered for purposes of determining death benefits under Section  59-1361(3), Idaho Code, and distributions under Section  59-1309(5), Idaho Code. When determining death benefits under Section  59-1361(3), Idaho Code, first calculate two hundred percent (200%) of accumulated contributions, excluding contributions and interest related to purchased service, then add member contributions and interest related to purchased service. Member contributions and interest will also be included in any separation benefit. In no event shall employer contributions for purchased service be included in any separation benefit or lump-sum death benefit. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.629 - EMPLOYER PARTICIPATION

Current through August 31, 2023
State agency, political subdivision or government entity participation must be in the form of lump-sum payments at the time of retirement. In the event a state agency, political subdivision or government entity makes a contribution on behalf of a member and a distribution other than periodic payments occurs prior to the actual retirement effective date, the state agency, political subdivision or government entity may claim a credit against future contributions equal to the amount of the contribution. State agency, political subdivision or government entity contributions must be accompanied by or preceded by a written statement endorsed by the governing body or officer of the state agency, political subdivision or government entity verifying that the participation is properly authorized and that the state agency, political subdivision or government entity indemnifies PERSI against any loss resulting from failure of the state agency, political subdivision or government entity, or any person acting on its behalf, to act within its authority. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter F - PERSI RETIREMENT RULES › Section 59.01.01.630 - ADDITIONAL LIMITS ON PURCHASED SERVICE

Current through August 31, 2023
The Internal Revenue Code imposes limits on the amount of retirement benefits that can be paid to a retiree under a defined benefit plan. Benefits acquired through purchase of service are subject to these limits for some purposes. In no event can a member purchase service that would result in the member exceeding the limits imposed in Section  415(n)(1)(A)  of the IRS Code. In addition, a member's initial retirement benefit, including purchased service, continues to be subject to the limitation in Section  59-1342(6), Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.650 - EXISTENCE OF EXTRAORDINARY GAINS

Current through August 31, 2023
The existence of extraordinary gains triggers the possibility that allocations will be made as provided in Section  59-1309, Idaho Code. However, the existence of extraordinary gains does not obligate the retirement board to make an allocation. The Board may choose not to allocate extraordinary gains, or it may choose to allocate all or part of the extraordinary gains. Extraordinary gains exist when, at the close of the fiscal year, the value of plan assets exceeds plan liabilities as determined by the actuary, plus a sum necessary to absorb a one (1) standard deviation market event without increasing contribution rates, as determined by the Board. The amount of extraordinary gains available for possible distribution equals the amount by which the assets exceed the sum of the liabilities and the one standard deviation. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.651 - VALUE OF PLAN ASSETS

Current through August 31, 2023
This is the total assets held in the PERSI base plan, as reported in the actuarial valuation at the end of the fiscal year. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.652 - PLAN LIABILITIES

Current through August 31, 2023
This is the actuarial liability of the PERSI base plan, including but not limited to, the cost of the proposed COLA to be effective in March following the close of the fiscal year, the cost of any benefit enhancements to the base plan approved by the legislature, and the cost of actuarial gains and losses, as reported in the actuarial valuation for the fiscal year. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.653 - ONE STANDARD DEVIATION

Current through August 31, 2023
This is the amount of reserve necessary to absorb normal market fluctuations and is a function of the risk associated with investment holdings and strategies, and will be determined by the Board based on those factors. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.654 - BOARD DISCRETION

Current through August 31, 2023
The Board retains full discretion in determining whether to allocate extraordinary gains when they exist. Because of the broad range of factors that might be relevant to such a determination, and to assure that the Board will not be limited in exercising its discretion, these rules do not attempt to identify any of the factors that might be considered in the Board's fiduciary capacity. When extraordinary gains exist, the Board will decide whether they will be allocated no later than the first day of December following the end of the fiscal year. Such decision shall be in writing and shall constitute an amendment to the plan document for purposes of the Internal Revenue Code of 1986, as amended, or any successor thereto. In the absence of any such decision, the allocation for that year shall be zero (0.00). (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.675 - ALLOCATION BETWEEN GROUPS

Current through August 31, 2023
If extraordinary gains exist, and the Board determines that all or part of such gains should be allocated, an allocation will be made among the three (3) groups identified by Section  59-1309, Idaho Code. The three (3) groups and allocations are: (3-31-22)
a. Active PERSI members - 38 percent (38%); (3-31-22)
b. PERSI retirees - twelve percent (12%); and (3-31-22)
c. PERSI employers - fifty percent (50%) (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.700 - ACTIVE MEMBER ALLOCATION

Current through August 31, 2023
After the amount to be allocated to the active member group has been determined, it shall be allocated among the members of the group. The active member allocation determines each member's initial share before considering any applicable individual limits. Each member's initial share shall be determined by dividing that member's accumulated contributions in the base plan at the close of the fiscal year by the total accumulated contributions in the base plan of all members of the group at the close of the fiscal year, multiplied by the amount allocated to the active member group. In no event shall a member's initial share, before considering individual limits, exceed the maximum annual contribution limit under Section  415(c)  of the IRS Code applicable for the limitation year. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.701 - MINIMUM ALLOCATION AMOUNT

Current through August 31, 2023
Due to the costs associated with maintaining individual choice accounts, no allocation shall be made to any member whose allocation share does not exceed thirty-eight dollars ($38) after considering individual limits, unless the member had a PERSI choice account on the last day of the fiscal year and has not withdrawn funds before the allocation date. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.702 - ACTIVE MEMBER

Current through August 31, 2023
A member participates in the active member allocation only if he is an active member as defined in this subchapter. Whenever a member is placed on leave of absence under circumstances making that member eligible for benefits under USERRA, the employer shall notify PERSI in writing within thirty (30) days and attach a copy of the member's orders. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.703 - ACCUMULATED CONTRIBUTIONS

Current through August 31, 2023
For purposes of allocating extraordinary gains within the active member group, accumulated contributions do not include contributions or interest related to the purchase of permissive service credits or contributions or interest in the Choice Plan or accounts. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.704 - TRANSFER TO DEFINED CONTRIBUTION CHOICE ACCOUNTS

Current through August 31, 2023
After each member's initial share has been determined, it will be transferred to an individual account as permitted under Section  414(k)  of the IRS Code, subject to individual limits imposed by the Internal Revenue Code. The Board may transfer allocations anytime after necessary compensation data is received and processed by the Board. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.705 - LIMITATIONS ON ALLOCATION

Current through August 31, 2023
In no event shall a member's final allocation exceed the limits imposed by Section  415(c)  of the IRS Code, based on compensation earned during the calendar year that included the end of the fiscal year. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.706 - INTERVENING RETIREMENT

Current through August 31, 2023
When a member is included in the active member pool but retires prior to the transfer of allocations, the member's allocation will be made as a one-time payment directly to the member rather than a transfer to an individual account. Such allocations will not be limited by Section  705  but will be subject to the limitations of Section  729. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.707 - INTERVENING WITHDRAWAL OF CONTRIBUTIONS

Current through August 31, 2023
When a member is included in the active member pool but terminates prior to the transfer of allocations, the allocation will be made to the member's individual account if the member has not withdrawn contributions from the Base account prior to the date of transfer of the allocation. No member who has withdrawn contributions from the Base account prior to the transfer of the allocation is eligible to receive an allocation. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.708 - INTERVENING DEATH OF ACTIVE MEMBER

Current through August 31, 2023
When a member would have been included in the active member allocation but dies prior to the transfer of allocations, no allocation shall be made to the member, beneficiary or estate except that an optional death benefit recipient will receive the active member's allocation as limited by Section  729. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.709 - TREATMENT OF GAIN SHARING ALLOCATIONS IN THE CHOICE ACCOUNT

Current through August 31, 2023
Gain sharing allocations transferred to individual Choice Accounts have no effect on an individual's Base Plan benefit. Gain sharing allocations, and the earnings thereon, will be accounted for separately from other Choice Plan contributions but will be treated as one plan for purposes of reporting, investing, distributions, and fees to the extent they are applicable. Related provisions of the Plan adopted by the Board to facilitate voluntary and employer contributions are applicable to gain sharing allocations to the extent not inconsistent with these rules and Sections  59-1308  and  59-1309, Idaho Code. However, no loans or hardship withdrawals may be taken against gain sharing account balances. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.725 - RETIREE ALLOCATION

Current through August 31, 2023
After the amount to be allocated to the retiree group has been determined, it shall be allocated among the members of the group. The retiree allocation determines each member's share before considering any applicable individual limits. Each member's initial share shall be determined by dividing that retiree's monthly benefit at the close of the fiscal year by the total monthly benefits payable to all members of the group at the close of the fiscal year, multiplied by the amount allocated to the retiree group. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.726 - RETIREE

Current through August 31, 2023
For purposes of allocating extraordinary gains, a member must be a retiree as defined in this subchapter. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.727 - MONTHLY BENEFIT

Current through August 31, 2023
This is the monthly benefit for the last month of the fiscal year but does not include benefits related to other months that may also have been paid during the last month of the fiscal year. In no event shall a retiree's share be determined based on more than the retiree's annual benefit, not including any gain sharing allocations, divided by twelve (12). (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.728 - PAYMENT OF ALLOCATION

Current through August 31, 2023
After each retiree's initial share has been determined, it will be paid no later than February 1 following the close of the fiscal year directly to the retiree either together with the retiree's monthly benefit or separately, subject to individual limits imposed by the Internal Revenue Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.729 - LIMITATIONS ON ALLOCATION

Current through August 31, 2023
Prior to allocation, a retiree's initial share shall be further limited as necessary to comply with the limits of Section  415(b)  of the IRS Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.730 - INTERVENING DEATH OF A RETIREE

Current through August 31, 2023
When a retiree is included in the retiree allocation but dies prior to the transfer of allocations, no allocation shall be made unless benefit payments are continuing to be made to a contingent annuitant. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.731 - INTERVENING REEMPLOYMENT

Current through August 31, 2023
When a retiree is included in the retiree allocation but becomes reemployed as defined in Section  59-1356, Idaho Code, prior to the date of distribution, the retiree allocation shall be made in the form of an active member allocation, and shall be subject to active member limitations. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.732 - NEGATED RETIREMENT

Current through August 31, 2023
Gain sharing allocations received by a retiree are not included in the amounts required to be repaid when negating retirement under Section  541. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.750 - EMPLOYER ALLOCATION

Current through August 31, 2023
After the amount to be allocated to the employer group has been determined, it shall be allocated among the members of the group. Each employer's share shall be determined by dividing that employer's contribution liability for the fiscal year by the total contribution liability for all members of the group for the fiscal year, multiplied by the amount allocated to the employer group. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.751 - EMPLOYER

Current through August 31, 2023
Participation in the employer pool is limited to those entities defined as an employer in this subchapter. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.752 - CONTRIBUTION LIABILITY

Current through August 31, 2023
This includes only employer contributions that are accrued during the fiscal year and required to be paid by Section  59-1322, Idaho Code, unreduced by gain sharing credits. It does not include contributions made to fund sick leave pools, to pay costs of other plans such as the Firefighters Retirement Fund, or to contributions required by Sections  33-107A  and  33-107B, Idaho Code. Only adjustments related to fiscal year contributions will be considered. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.753 - CREDIT OF ALLOCATION

Current through August 31, 2023
After each employer's share has been determined, it will be credited against the employer's future contribution invoices. The credits shall be applied only to offset future employee and employer contributions required to be remitted by Section  59-1325(1), Idaho Code, until the credit is exhausted. An employer may elect to use the credits solely against employer contributions to the extent that no carry-over credits (as described in Section  754)  result. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.754 - CARRY-OVER OF CREDIT

Current through August 31, 2023
Should the credit exceed the employer's contribution invoices for the succeeding twelve (12) month period, any remaining credits will carry over to the following year together with an additional credit representing an interest payment. The interest credit shall equal the balance of remaining credits multiplied by a ratio representing the regular rate of interest. This process shall be repeated annually until all credits have been used. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.01.01 - RULES FOR THE PUBLIC EMPLOYEE RETIREMENT SYSTEM OF IDAHO (PERSI) › Subchapter G - PERSI GAIN SHARING RULES › Section 59.01.01.755 - WITHDRAWAL OF EMPLOYER

Current through August 31, 2023
When an employer is included in the employer pool but withdraws from the system as provided in Section  59-1326, Idaho Code, prior to allocation of credits, the employer shall not be entitled to receive any credits. When an employer is entitled to carry-over credits but withdraws prior to using all its credits, it shall not be entitled to additional credits based on interest payments. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.000 - LEGAL AUTHORITY

Current through August 31, 2023
The Rules for the Judges' Retirement Fund rules are adopted under the legal authority of Section  1-2012, Idaho Code. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.001 - TITLE AND SCOPE

Current through August 31, 2023
01.
Title
. The title of this chapter is IDAPA 59.02.01, "Rules for the Judges' Retirement Fund." (3-31-22)
02.
Scope
. This chapter relates to retirement under the Judges' Retirement Fund. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.002 - WRITTEN INTERPRETATIONS - AGENCY GUIDELINES

Current through August 31, 2023
Written interpretations of these rules, to the extent they exist, are available from PERSI (Public Employee Retirement System of Idaho), at the locations listed in Rule  4  of these rules. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.003 - ADMINISTRATIVE APPEAL

Current through August 31, 2023
Administrative appeals are conducted pursuant to IDAPA 59.01.01, "Rules of Administrative Procedure," Rules  101  through  104  and  150  through  789. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.004 - OFFICE - OFFICE HOURS - MAILING ADDRESS AND STREET ADDRESS

Current through August 31, 2023
Office hours are 8 a.m. to 5 p.m. Monday through Friday. PERSI's mailing and street addresses, telephone numbers, and fax numbers are as follows: (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.005 - PUBLIC RECORDS ACT COMPLIANCE

Current through August 31, 2023
All rules required to be adopted by this chapter are public records. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.006 - CITATION

Current through August 31, 2023
The official citation of this chapter is IDAPA 59.02.01.000, et seq. For example, this section's citation is IDAPA 59.02.01.006. In documents submitted to the Board or issued by the Board these rules may be cited as Rules for the Judges' Retirement Fund and section number less leading zeros. For example, this rule may be cited as Rules for the Judges' Retirement Fund Rule  7. (3-31-22)
Idaho Administrative Code › Title IDAPA 59 - PERSI (Public Employee Retirement System of Idaho) › Rule 59.02.01 - RULES FOR THE JUDGES' RETIREMENT FUND › Subchapter A - GENERAL PROVISIONS › Section 59.02.01.007 - EFFECTIVE DATE

Current through August 31, 2023
Unless otherwise indicated in the bracketed material following each rule, the effective date of every rule in this chapter is July 1, 2014. (3-31-22)