|Retirement Board Member||Term Expires|
|Jody B. Olson, Chairman||July 1, 2017|
|Celia R. Gould||July 1, 2018|
|Joy Fisher||July 1, 2019|
|Jeff Cilek||July 1, 2020|
|J. Kirk Sullivan||July 1, 2021|
Retirement Board Members and Terms
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.
Contacting the Retirement Board
Send us an email via our contact us webpage; or, write us a letter and send it to: PO Box 83720, Boise ID 83720-0078.
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.
Retirement Board meetings are generally held the third Tuesday of the month beginning at 8:30 AM, at PERSI's Boise office, 607 North 8th Street, Boise, Idaho 83702. 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.