## What is the rule of 90 for PERSI?

You may receive an unreduced retirement benefit if your years of service plus your age equal 90 (General Members) or 80 (Public Safety Officers).

## How do I calculate the Rule of 90?

It’s actuarial jargon. The rule of 90 is a formula for determining when a teacher can draw a normal pension without penalty. This rule is satisfied when your age + years of service = 90.

What is the PERSI formula?

Calculation Example PERSI will determine his service credit in months: 28 years x 12 months = 336 months. PERSI will determine his age in months: 50 years x 12 months + 4 additional months for a total. of 604 months.

### How much does PERSI pay out?

For example, if your contributions to PERSI during your career totaled \$60,000, and your monthly retirement benefit is \$1,500, you would receive your \$60,000 in approximately three years.

### Is Idaho PERSI a qualified retirement plan?

Because the PERSI Base Plan is a defined benefit plan, the lifetime allowance you receive at retirement from this plan is not dependent on the amount of money you contribute to PERSI. The Base Plan is a qualified tax-deferred plan under IRS Code Section 401(a).

What does it mean to be fully vested in PERSI?

Being fully vested means a person has rights to the full amount of some benefit, most commonly employee benefits such as stock options, profit sharing, or retirement benefits.

## How does Idaho PERSI work?

Enrollment in the PERSI Base Plan (pension) is automatic. Both you and your employer make contributions to PERSI. Your contributions are credited to your personal account, while employer contributions are pooled in a trust to cover benefits. The actual value of your benefit exceeds your contributions.

## How old do you have to be to retire in Idaho?

You must meet the following requirements to be eligible for retirement benefits: You are 62 or older.

How long does it take to be vested in PERSI?

60 months
You become fully vested if you belong to PERSI as little as five years (60 months) which means you will receive a lifetime benefit at retirement.

### Is PERSI a 403b plan?

Employees enrolled in PERSI as their regular retirement plan, may also enroll in the 403(b), 401(k), and the 457(b) plans. Employees enrolled in the ORP as their regular retirement plan may enroll in the 403(b) and the 457(b) plans.

### How do I cash out my Persi retirement?

If you are no longer employed by a PERSI employer, you are able to make a withdrawal from your PERSI Choice 401(k) Plan account. To initiate a withdrawal, simply call Empower Retirement at 866-437-3774 or log in to your Choice 401(k) Plan Account. Once your account balance goes to zero, it’s closed.

Can you cash out PERSI?

When you leave PERSI-covered employment, you may withdraw your Base Plan money and any interest earned or you may choose to leave your contributions and interest in PERSI until a future date or until you retire. If you withdraw your funds, tax penalties and withholdings may apply.

## How do I become a Persi member in Idaho?

You become a PERSI member when you go to work in an eligible position with one of the over 800 PERSI employers throughout Idaho.

## What is the base plan for Persi?

The Base Plan is a qualified tax-deferred plan under Internal Revenue Service (IRS) Code Section 401 (a). The longer you work for PERSI employers, the greater your Base Plan retirement benefit will be.

What happens to my Persi benefits when I retire?

Although you may not remain a public employee your entire career, if you work for a PERSI employer and earn 60 months of service credit you will be vested to receive a lifetime benefit at retirement. For an overview of your future retirement benefits, please read the PERSI Benefits at a Glance Flyer.

### Who are the members of the Idaho Public Employees Retirement System?

PERSI provides retirement, disability, survivor, and other benefits to more than 144,000 members. Our membership is comprised of retirees, beneficiaries, and active public employees working for more than 775 employers across the State of Idaho.