The PERSI Retirement Program is mandatory for all public school district employees working 20 hours or more hours per week, on a regular, permanent monthly basis. View payroll contribution amounts under the "PERSI Retirement Base Plan" located below.

The laws and rules governing PERSI can be found in Title 59, Chapter 13, Idaho Code. For legal definitions, please refer to PERSI's Statutes and Rules.

PERSI Benefits

The Public Employee Retirement System of Idaho (PERSI) is designed to provide pension benefits to public employees. PERSI has two retirement benefit programs: a Defined Benefit Base Plan, and a Defined Contribution Choice Plan 401(k). In addition, PERSI offers a variety of other valuable benefits to members.

Your PERSI Base Plan contributions are secure and protected by federal and state law. PERSI funds may only be used for the benefit of PERSI members. Once you are vested (generally after 5 years of service), your PERSI Base Plan lifetime benefits are guaranteed.

To learn more about PERSI, or for more detailed information about your retirement options and benefits, visit the PERSI Website. You may also contact the PERSI Answer Center Monday thru Friday between 7:30AM and 5:30PM (Mountain Time) by calling 1-208-334-3365 in the Boise area, or toll free (800) 451-8228 from other parts of the state. 

Base Plan Benefits

The State of Idaho feels strongly about the importance of providing for a secure future, the PERSI Retirement Program is mandatory for all public school district employees working 20 or more hours per week for at least 5 consecutive months.  Enrollment in the PERSI Base Plan (pension) is mandatory. Both you and your employer make contributions to PERSI:

PERSI CONTRIBUTION RATES

As a PERSI member you have a percentage of your gross salary deducted, tax deferred, from your monthly paycheck as contributions toward your retirement. Your contributions are credited to your personal account, while employer contributions are pooled in a trust to cover benefits. The actual value of your benefit exceeds your contributions. When you retire as a vested member, PERSI will pay you every month for as long as you live - and if you select a retirement option with survivor benefits, your Contingent Annuitant will receive a benefit for life after your death.

PERSI MEMBER HANDBOOK

PERSI MEMBER NEWSLETTERS

Portability of Funds

Your Base Plan contributions, as well as your Choice Plan contributions and earnings are always yours. If you quit working for the state, you may withdraw your money, plus interest (although tax penalties and withholdings apply). Another option is you may roll over your money and interest to an IRA or another qualified plan, and still use it to fund your retirement. Remember, PERSI money transfers with you between State of Idaho departments.

If you leave one PERSI employer and keep your money in the system, and later go to work for any of the over 900 public employers covered by PERSI, you retain the service credit earned in your previous job. All service credit you earn while working for any PERSI employer is automatically combined in one account for you.

The Choice 401(k) Plan

The Choice 401(k) Plan is an optional defined contribution retirement savings plan available to active members. Unlike the Base Plan, participation in The Choice 401(k) Plan is completely voluntary. It allows you to contribute a portion of your salary on a tax-deferred basis via payroll deduction. This means your contributions come out of your paycheck before taxes, thereby reducing the amount of taxes you pay during the year. The Choice 401(k) Plan includes a loan provision where members may take a loan for any reason as long as they have a balance of $2,000 or more in their account, excluding any gain sharing amounts.

The Choice 401(k) Plan has 12 investment options. One of the most popular is the PERSI Total Return Fund (TRF), which mirrors the Base Plan investments. The TRF is the default investment fund. Your contributions are automatically invested in the TRF unless you elect otherwise. The TRF has no investment manager fee; however, fees are associated with the other 11 investment options. Unlike the Base Plan, you manage your Choice 401(k) Plan funds. In most cases, you may change deferral amounts and investments at any time. No fee is charged for making changes to your account. PERSI pays the record keeping fees for active members.

Money from other qualified retirement plans, such as a 401(a), 457, pre-tax IRA, 403(a) or 403(b), or another 401(k) account, can be rolled over to The Choice 401(k) Plan at PERSI. After-tax contributions cannot be rolled into The Choice Plan.

PERSI Choice 401(k) Plan Website

To enroll in the Choice Plan 401(k), complete a Choice Plan Salary Reduction Agreement (RS-801) and return it to the Payroll Department.

PERSI Choise 401(K) Plan Contribution Election Form

COLAs

PERSI's Base Plan offers annual Cost of Living Allowances (COLAs) to all retirees so that your benefit will keep pace with inflation. Without COLAs, inflation would dramatically reduce the value of your benefit over the years. (For example, if you retired with a $1,000 a month benefit and received 3% COLAs for 10 years, after 10 years your benefit would be $1304.80, and would be keeping up with inflation.) The Choice Plan does not offer COLAs.

PERSI DISABILITY 

Your PERSI contributions also provide you with disability retirement coverage. If after 5 years with PERSI you become totally disabled and are not able to continue working, you may be eligible to receive a lifetime disability benefit. These monthly benefits are available for as long as you remain disabled.

WHAT TO DO IF I BECOME DISABLED

To be eligible for PERSI Disability Retirement you must be totally and permanently disabled as a result of a physical or mental disease or injury while an active member, and you must have five years of service. Call PERSI at 1-800-451-8228. Your representative will take down your disability information and send you a disability retirement estimate in the mail. The disability application will be sent to PERSI's claims company. Based on medical information, the claims company will determine whether or not you are eligible for disability retirement. There is a 5-6 month waiting period for eligibility based on the last day you worked. Once the approval or denial is determined, you will receive notification by mail regarding the decision. You must submit your application within one (1) year of the date of your last contribution as an active member.

For more information, contact a PERSI representative at 1-800-451-8228.

Death Benefits

PERSI also offers valuable financial protection in the form of death benefits. If you die after becoming vested, your beneficiary will receive a lump sum payment of two times your Base Plan contributions plus interest. If your spouse is your beneficiary, he/she may instead choose monthly lifetime benefit payments. If you die before becoming vested, your beneficiary will receive your Base Plan account balance plus interest. Whether you are vested or not, your beneficiary will also receive the amount in your Choice Plan account.