1999 Legislation
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HOUSE BILL NO. 268 – PERSI, military service, buy-in

HOUSE BILL NO. 268

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Daily Data Tracking History



H0268.......................................by COMMERCE AND HUMAN RESOURCES
PUBLIC EMPLOYEE RETIREMENT SYSTEM - Adds to existing law relating to the
Public Employee Retirement System to authorize a buy-in provision for
military service and to specify conditions governing the buy-in.

02/16    House intro - 1st rdg - to printing
02/17    Rpt prt - to Com/HuRes

Bill Text


H0268


                                                                        
 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fifth Legislature                 First Regular Session - 1999
                                                                        

                             IN THE HOUSE OF REPRESENTATIVES

                                    HOUSE BILL NO. 268

                        BY COMMERCE AND HUMAN RESOURCES COMMITTEE

 1                                        AN ACT
 2    RELATING TO THE PUBLIC EMPLOYEE RETIREMENT SYSTEM; AMENDING CHAPTER 13,  TITLE
 3        59,  IDAHO CODE, BY THE ADDITION OF A NEW SECTION 59-1331A, IDAHO CODE, TO
 4        AUTHORIZE A BUY-IN PROVISION FOR MILITARY SERVICE AND  SPECIFY  CONDITIONS
 5        GOVERNING THE BUY-IN.

 6    Be It Enacted by the Legislature of the State of Idaho:

 7        SECTION  1.  That  Chapter  13,  Title 59, Idaho Code, be, and the same is
 8    hereby amended by the addition thereto of a  NEW SECTION  ,  to  be
 9    known and designated as Section 59-1331A, Idaho Code, and to read as follows:

10        59-1331A.  BUY-IN  FOR MILITARY SERVICE. A member who has military service
11    prior to commencement of contributions under sections 59-1331 through 59-1342,
12    Idaho Code, may be credited with membership service for all or a part of  such
13    military service but not to exceed forty-eight (48) months. No credit for such
14    military service shall be granted, however, if at the time of application, the
15    member  has a vested right to retirement benefits in another retirement system
16    based in whole or in part upon his military service. A member who  applies  to
17    purchase  credit  for  his  military service pursuant to this section shall be
18    liable for payment to the retirement system of the entire amount of  the  con-
19    tributions  required  to pay the cost of the purchase of such service. Neither
20    the state nor the employer of a member who applies to  purchase  credit  under
21    this  section  shall  be  liable  for  any payment to the retirement system on
22    behalf of the member for the purchase of such credit. The member may  purchase
23    credit  for military service by making his payment therefor to the system in a
24    lump sum or in regular monthly installments pursuant to such formula and rules
25    as approved by the board.
26        The board shall also provide for  reduction  of  the  retirement  benefits
27    attributable to purchased military service in the event that a member fails to
28    complete the payment for any reason prior to retirement, and shall provide for
29    such a reduction on a pro rata basis to equal the paid credit value.

Statement of Purpose / Fiscal Impact


                        STATEMENT OFPURPOSE
                                 
                             RS 09002

This legislation will create a new section in chapter 13, title
59 that will enable employees to purchase military service while
participating in the PERSI system. The employee may be credited
with membership service for all or a part of such military
service but not to exceed forty-eight months.




                            FISCAL NOTE
No fiscal impact to the general fund.







Contact:Representative Jim Clark


        208-332-1000





STATEMENT OF PURPOSE/ FISCAL NOTE   Bill No.      H 268