STATEMENT OF PURPOSE
RS27285 / H0372
Amends 59-1311 to exempt actuarial management personnel from the provisions of chapter 53, title 67 and
section 67-3519, Idaho Code. An internal actuary employed by the system would be a non-classified employee,
which is currently not allowed in Idaho Statute. To make the position non-classified, the position would need
to be exempted in Idaho Statute, similarly to the investment management personnel.
FISCAL NOTE
There is no general fund or federal fund impact. From FY 2017 to FY 2019, costs for additional actuarial
analysis, beyond independent third-party annual valuations, has averaged $279,523 per year. Ongoing savings
to the trust would be achieved through a fixed cost of internal actuary services, currently estimated to be
$180,100 annually with benefits, and utilization of third-party actuarial services more efficiently.
Contact:
Mike Hampton
Public Employee Retirement System (PERSI)
(208) 287-9290
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 01/28/2020, 8:52 AM


Statutes affected:
Bill Text: 59-1311