Retirement Board
PERSI is directed by a five-member Retirement Board. Individuals on the Board are appointed by the Governor of the State of Idaho for terms lasting five years. These appointments are subject to Senate confirmation. State law requires that two members of the Board be active PERSI members with at least ten years of service and three members who are Idaho citizens not members of the system except by reason of having served on the board.
You may contact the Board via e-mail or postal mail:
E-mail address: Retirement Board
Postal address: PO Box 83720, Boise ID 83720-0078
Board Meeting Schedule, Agenda and Minutes
Board Members and Terms
Member |
Term Expires |
|---|---|
Jody B. Olson, Chairman |
July 1, 2012 |
Joy Fisher |
July 1, 2014 |
Jeff Cilek |
July 1, 2015 |
J. Kirk Sullivan |
July 1, 2016 |
William "Bill" Deal |
July 1, 2013 |
Fiduciary Duty of Loyalty
The primary duty of the Retirement Board and PERSI staff, as fiduciaries, is that of loyalty, or acting with an "eye single" to the interests of the members.
As trustees of the plan, the Retirement Board acts in a fiduciary capacity on behalf of the members of the fund and their beneficiaries. The Board is required to discharge its duties for the exclusive benefit of members of the fund, consistent with the governing provisions of the plan.
Board's Areas of Responsibility
- Overseeing the fund's investment activities. This includes hiring investment managers and setting the asset allocation and funding policy.
- Reviewing and adopting actuarial assumptions.
- Overseeing PERSI's administrative activities. This includes approving PERSI's annual budget.
- Approving proposed legislation.
- Awarding Cost-of-Living-Adjustments (COLA) to Retiree Benefits, subject to amendment or rejection by the legislature.
- Setting contribution rates.
The Retirement Board does not have the authority to approve changes to PERSI's benefit structure. The Board does have the authority to set contribution rates needed to fund the system. The Idaho Legislature, as Plan Sponsor of PERSI, is responsible for determining the system's benefit structure. They alone may pass legislation to change retirement benefits.
The Board may submit legislation to facilitate the administration of the plan, to clean up problems with existing statutes, or to enable better customer service.
The Board does not submit legislation affecting the plan's benefit structure. Interested constituent groups may propose legislation affecting the benefit structure.
PERSI's Board and staff will provide any information and technical support required for the legislature to vote on legislation. The Board would, however, as a part of its responsibility to the system's members, oppose any proposed legislation which would weaken the retirement system financially or structurally.
Board Meetings
Retirement Board meetings are generally held the fourth Tuesday of the month beginning at 8:30 am, at PERSI's Boise office, 607 North 8th Street. Meetings are open to PERSI members and the public. If you would like to attend a meeting, check the agenda on this website for the time and location.
2012 Board Meeting Schedule
| Time | Location | Agenda|Minutes |
|---|---|---|
| January 24, 2012, 8:30 a.m. | Boise PERSI Office |  | |
| February 28, 2012, 8:30 a.m. | Boise PERSI Office | | |
| March 27, 2012, 8:30 a.m. | Boise PERSI Office | | |
| April 24, 2012, 8:30 a.m. | Boise PERSI Office | | |
| June 26, 2012, 8:30 a.m. | Boise PERSI Office | | |
| July 24, 2012, 8:30 a.m. | Boise PERSI Office | | |
| August 28, 2012, 8:30 a.m. | Boise PERSI Office | | |
| September 25, 2012, 8:30 a.m. | Boise PERSI Office | | |
| October 23, 2012, 8:30 a.m. | Boise PERSI Office | | |
| December 4, 2012, 8:30 a.m. | Boise PERSI Office | | |
2011 Board Meeting Schedule
| Time | Location | Agenda|Minutes |
|---|---|---|
| January 25, 2011, 8:30 a.m. | Boise PERSI Office | | |
| February 22, 2011, 8:30 a.m. | Boise PERSI Office | | |
| March 22, 2011, 8:30 a.m. | Boise PERSI Office | | |
| April 26, 2011, 8:30 a.m. | Boise PERSI Office | | |
| June 22-23, 2011, 8:30 a.m. | Investment Mngr Conf |  | |
| July 26, 2011, 8:30 a.m. | Boise PERSI Office | | |
| August 23, 2011, 8:30 a.m. | Boise PERSI Office | | |
| September 27, 2011, 8:30 a.m. | Boise PERSI Office | | |
| October 25, 2011, 8:30 a.m. | Boise PERSI Office | | |
| December 6, 2011, 8:30 a.m. | Boise PERSI Office | | |
2010 Board Meeting Schedule
| Time | Location | Agenda|Minutes |
|---|---|---|
| January 26, 2010, 8:30 a.m. | Boise PERSI Office | | |
| February 23, 2010, 8:30 a.m. | Boise PERSI Office | | |
| March 30, 2010, 8:30 a.m. | Boise PERSI Office | | |
| April 27, 2010, 8:30 a.m. | Boise PERSI Office | | |
| June 22, 2010, 8:30 a.m. | Boise PERSI Office | | |
| July 27, 2010, 8:30 a.m. | Boise PERSI Office | | |
| August 24, 2010, 8:30 a.m. | Boise PERSI Office | | |
| September 28, 2010, 8:30 a.m. | Boise PERSI Office | | |
| October 19, 2010, 8:30 a.m. | Boise PERSI Office | | |
| December 7, 2010, 8:30 a.m. | Boise PERSI Office | | |
2009 Board Meeting Schedule
| Time | Location | Agenda|Minutes |
|---|---|---|
| January 20, 2009, 8:30 a.m. | Boise PERSI Office | | |
| February 24, 2009, 8:30 a.m. | Boise PERSI Office | | |
| March 31, 2009, 8:30 a.m. | Boise PERSI Office | | |
| April 28, 2009, 8:30 a.m. | Boise PERSI Office | | |
| June 2, 2009, 8:30 a.m. | Boise PERSI Office | | |
| June 23, 2009, 8:30 a.m. | Boise PERSI Office | | |
| July 28, 2009, 8:30 a.m. | Boise PERSI Office | | |
| August 25, 2009, 8:30 a.m. | Boise PERSI Office | | |
| September 22, 2009, 8:30 a.m. | Boise PERSI Office | | |
| October 27, 2009, 8:30 a.m. | Boise PERSI Office | | |
| December 8, 2009, 8:30 a.m. | Boise PERSI Office | | |
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