Retirement & Savings

Public Employee Retirement System of Idaho (PERSI)

The Public Employee Retirement System of Idaho. This is your pension plan provided by the State of Idaho. You and your employer make contributions to PERSI to fund your retirement and related benefits. PERSI also offers a 401(k) plan through which you may voluntarily save for the future.

• PERSI Base Plan
  This is your traditional pension plan. Over the years, your pension may very well become one of your most valuable financial assets. The longer you work for the State, the greater your PERSI benefits.
• PERSI Choice 401(k) Plan
  This is a voluntary 401(k) savings plan. You may contribute 1% to 100% of your pretax salary to save for retirement. The 401(k) also allows loans to yourself should you need or wish to make withdrawals while working. With the 401(k), you pay no administrative fees while you are working.
• Additional PERSI Member Benefits
  In addition to your pension, PERSI also provides Disability Retirement, Death Benefits, Separation Benefits, and Gain Sharing.

---

State of Idaho 457 Deferred Compensation Plan

The State 457(b) Plan is a voluntary, defined-contribution plan designed to supplement your pension and Social Security benefits in retirement. Contributions to the plan can be pre-tax salary deferral, post-tax (Roth), or a combination of both (not to exceed the annual plan maximum). Other key features of the plan are in-plan Roth conversions and in-service distributions (after attaining age 59½ while still actively employed). Unlike any other retirement plan, the 457(b) plan is only available to public employees and it allows you to withdraw your money the day you receive your final paycheck.

To participate in the 457(b) Plan, you must contribute at least 1% of your pay or $10 per paycheck. You may contribute up to $20,500 per year. If you are age 50, you may contribute an additional $6,500 per year. If you are within three years of your Rule of 90 (general member) or Rule of 80 (law enforcement), you can contribute double the normal maximum ($41,000 per year) for up to three years.

To learn more about the plan, visit www.idahodc.com.

To enroll in the plan, complete the online enrollment form (select State of Idaho Deferred Comp Program). Alternatively, print, complete, and mail the enrollment form.

 

---

Medicare

• Medicare.gov

---

Idaho College Savings Program

The Idaho College Savings Program (IDeal), offered through the State of Idaho, provides families with an affordable way to save for college.

---

Investment Education