Appropriates $7,947,900 to the Public Employee Retirement System of Idaho for fiscal year 2018; limits the number of authorized full-time equivalent positions to 67; and provides legislative intent.

This is the FY 2018 appropriation to the Public Employee Retirement System of Idaho (PERSI) for $7,947,900 in dedicated funds with full-time equivalent positions capped at sixty-seven (67). It includes $56,800 in benefit cost increases, $300,700 for replacement items, $18,100 for statewide cost allocation, and $120,900 for an ongoing 3% merit-based increase in employee compensation for permanent employees to be distributed at the discretion of agency heads and institution presidents. The bill includes one additional FTP and $76,000 for a new internal training specialist in line item 1. Line item 2 includes a reduction of $45,300 in operating expenditures in the PERSI Administrative Fund and an increaseof$45,300inpersonnelcostsinthePERSISpecialFund. Thisactionnetstozerotofundtheamount already committed to salaries in FY 2017. Cybersecurity insurance costs for FY 2018 are also included in the amount of $5,400. Intent language is included in Section 3 of the bill, referencing language allowing for continuous appropriation of PERSI's portfolio-related costs.