Idaho Bills
6 bills · 2020 Regular Session
Amends existing law to provide a correct code reference.
34 – 0
Amends existing law to provide for actuarial management personnel.
32 – 0
Amends existing law to provide for a limitation on cost of living allowance adjustment increases.
The purpose of this legislation is to strengthen the Public Employee Retirement System of Idaho by judiciously extending cost of living increases.
Relates to the appropriation to the Public Employee Retirement System of Idaho for fiscal year 2021.
This is the FY 2021 original appropriation bill for the Public Employee Retirement System of Idaho (PERSI). It appropriatesatotalof$9,183,100andcapsthenumberofauthorizedfull-timeequivalentpositionsat73.00. For benefitcosts, thebillmaintainsthecurrentappropriatedamountforhealthinsuranceat$11,650pereligibleFTP andtemporarilyremovesfundingfortheemployer'ssickleavecontributionrate. Fundingforreplacementitems includes $431,700 for servers and storage, desktop and laptop computers and monitors, phones, and a printer. The bill also provides funding for the equivalent of a 2% change in employee compensation for permanent state employees, with an additional 2% increase for those in the 20 job classifications most in need of equity adjustments. Funding for a 3% upward shift in the compensation schedule is also included. The bill funds four line items, which provide 1.00 FTP and $185,100 for an internal actuary; 2.00 FTP and $152,100 to create two positions under a new retirement specialist classification; 1.00 FTP and $69,700 for one additional traditional retirement specialist; and $7,000 for increased software licensing costs. Also included are adjustments to pay the Office of Information Technology Services for security software and data center office space located at the Chinden Campus.
35 – 0
Stating findings of the Legislature and amending the retroactive cost of living adjustment approved by the PERSI board at its December 2019 meeting.
The Board of the Public Employees Retirement System of Idaho (PERSI) met in December and approved a 6.54% Cost of Living Adjustment (COLA) for retired plan participants. This includes a 1% mandatory adjustment, a 0.7% current-year discretionary adjustment (based on 2019 CPI-U), and a 4.76% application of "retroactive" adjustments that the Board is also allowed to apply. Thesenon-mandatoryadjustmentshaveacosttoPERSIof$374,400,000. Bystatute,theIdahoLegislaturemay adjust the Board's direction. This must be done by the 45th day of the legislative session through a Concerrent Resolution. Otherwise, the discretionary adjustments become effective on 1 March 2020. We should not be approving such a large COLA. Employer and employee contribution rates are at record highs. Even after a record bull market, PERSI is still below 100% funded. And we could experience a choppy future. This Concurrent Resolution strikes a balance by allowing this year's discretionary adjustment of 0.7% to go forward but holds off on giving the 4.76% in "retroactive adjustments. Added to the 1% mandatory adjustment, this would provide a 1.7% COLA.
Repeals and adds to existing law to establish provisions regarding police officer member status.
To clearly define intent of the legislature on who is to receive "police officer member" status, or "rule of 80" for retirement purposes.
32 – 0