59-1394. EXCESS COSTS — ADDITIONAL CONTRIBUTIONS. (1) In addition to the employee and employer contributions required by chapter 14, title 72, Idaho Code, additional contributions shall be required to fund the provisions of section 59-1397, Idaho Code. These costs shall be borne by employers and by the state of Idaho as hereinafter provided.
(a) Fifty percent (50%) of the gross receipts by the state of the tax on fire insurance premiums, as provided by section 41-402, Idaho Code, is hereby perpetually appropriated to the public employee retirement account for the purpose of partially funding the benefit payment requirements imposed by the provisions of chapter 14, title 72, Idaho Code.
(b) The board shall conduct studies from time to time of the benefits prescribed by section 59-1397, Idaho Code, to determine the additional contributions required to fund the rights conferred by chapter 14, title 72, Idaho Code, above and beyond the initial contribution from the fire insurance premium tax required by subsection (1) (a) of this section. If such studies indicate the value of the benefits exceeds the required contributions otherwise prescribed, the board shall establish an additional contribution rate necessary to bring the amounts into balance. The cost of such additional contribution shall be borne equally by the employers through additional contributions and the state of Idaho through the fire insurance premium tax. In addition to appropriation of the fire insurance premium tax contained in subsection (1) (a) of this section, the amount of the gross receipts by the state of the tax on fire insurance premiums, as provided by section 41-402, Idaho Code, necessary to match dollar for dollar the additional contribution required of employers is hereby perpetually appropriated commencing July 1, 1980 to the public employee retirement account for the purpose of subsection (1) (b) of this section. If the matching funds herein provided equal one hundred percent (100%) of the gross receipts from the fire insurance premium tax, the employers shall contribute the balance of the monies required to meet the required contribution rate. The additional contribution rate from the employers commencing October 1, 1980 shall be ten percent (10%) of the pay period salary of each paid firefighter until next determined by the board.
(2) Nothing herein contained shall prevent the board from contracting with employers to provide a schedule of contributions which will retire any excess cost over a given period of time, not to exceed fifty (50) years. In the event that such agreements are reached, the amount of the fire insurance premium tax necessary to match additional employer contributions is continuously appropriated for that purpose.
History:
[(59-1394) 1979, ch. 147, sec. 7, p. 454; am. 1980, ch. 50, sec. 44, p. 103; am. and redesig. 1990, ch. 231, sec. 64, p. 646; am. 1996, ch. 208, sec. 14, p. 672; am. 1996, ch. 322, sec. 57, p. 1086.]
Structure Idaho Code
Title 59 - PUBLIC OFFICERS IN GENERAL
Chapter 13 - PUBLIC EMPLOYEE RETIREMENT SYSTEM
Section 59-1302 - DEFINITIONS.
Section 59-1303 - POLICE OFFICER MEMBER STATUS.
Section 59-1304 - RETIREMENT BOARD — APPOINTMENT.
Section 59-1305 - POWERS AND DUTIES OF BOARD — INDEMNIFICATION.
Section 59-1305A - CRIMINAL HISTORY CHECKS.
Section 59-1306 - CONFORMITY WITH FEDERAL TAX CODE TO MAINTAIN QUALIFIED PLAN TAX STATUS.
Section 59-1307 - AGREEMENTS WITH OTHER RETIREMENT SYSTEMS.
Section 59-1309 - ALLOCATION OF EXTRAORDINARY GAINS.
Section 59-1312 - SELECTION OF FUNDING AGENT(S) — INVESTMENT OF ASSETS — TAX EXEMPTION.
Section 59-1313 - TRUST AGREEMENT — AMENDED TO COMPLY WITH THIS CHAPTER.
Section 59-1314 - RULES — PROCEDURES FOR HEARINGS PRIOR TO APPEALS — APPEALS.
Section 59-1316 - MEMBER’S RETIREMENT RECORDS CONFIDENTIAL.
Section 59-1317 - RIGHTS TO BENEFITS INALIENABLE.
Section 59-1318 - RIGHTS IN ASSETS OF SYSTEM LIMITED.
Section 59-1319 - APPROVED DOMESTIC RETIREMENT ORDERS — REQUIREMENTS.
Section 59-1320 - APPROVED DOMESTIC RETIREMENT ORDERS — APPLICATION AND EFFECT.
Section 59-1322 - EMPLOYER CONTRIBUTIONS — AMOUNTS — RATES — AMORTIZATION.
Section 59-1324 - TRANSFER OF MONEYS FROM STATE COMMUNITY COLLEGE ACCOUNT.
Section 59-1325 - EMPLOYER REMITTANCE TO BOARD — COLLECTION OF DELINQUENCIES.
Section 59-1327 - MAKING A FALSE CLAIM — MISDEMEANOR.
Section 59-1328 - ADMINISTRATIVE PENALTIES FOR FAILURE TO COMPLY WITH REPORTING REQUIREMENTS.
Section 59-1329 - BOARD REGULATIONS.
Section 59-1331 - CONTRIBUTIONS.
Section 59-1332 - PICK UP OF EMPLOYEE CONTRIBUTIONS.
Section 59-1333 - CONTRIBUTIONS FROM EMPLOYEES.
Section 59-1334 - CONTRIBUTIONS — FROM POLICEMEN AND FIREFIGHTERS.
Section 59-1335 - CONTRIBUTIONS — FROM SCHOOL EMPLOYEES.
Section 59-1341 - CONDITIONS OF ELIGIBILITY FOR SERVICE RETIREMENT.
Section 59-1342 - COMPUTATION OF SERVICE RETIREMENT ALLOWANCES — MINIMUM BENEFITS.
Section 59-1343 - CONVERSION AND COMMUTATION OF CERTAIN PAYMENTS.
Section 59-1344 - TIME FOR PAYMENT OF SERVICE RETIREMENT OR EARLY RETIREMENT.
Section 59-1345 - VESTED MEMBER ELIGIBLE FOR EARLY RETIREMENT.
Section 59-1346 - COMPUTATION OF EARLY RETIREMENT ALLOWANCES.
Section 59-1350 - DEFERRAL OF EARLY RETIREMENT.
Section 59-1352 - ELIGIBILITY FOR DISABILITY RETIREMENT.
Section 59-1352A - PUBLIC SAFETY OFFICER PERMANENT DISABILITY BENEFIT.
Section 59-1352B - PUBLIC SAFETY OFFICER CATASTROPHIC LINE OF DUTY BENEFITS.
Section 59-1353 - COMPUTATION OF DISABILITY RETIREMENT ALLOWANCES.
Section 59-1354 - TIME FOR PAYMENT OF DISABILITY RETIREMENT ALLOWANCE.
Section 59-1354A - MEMBERS RECEIVING A DISABILITY RETIREMENT RETURNING TO WORK.
Section 59-1355 - POSTRETIREMENT ALLOWANCE ADJUSTMENTS.
Section 59-1356 - REEMPLOYMENT OF RETIRED MEMBERS.
Section 59-1358 - COMPUTATION OF SEPARATION BENEFITS.
Section 59-1359 - SEPARATION BENEFITS.
Section 59-1360 - CESSATION OF MEMBERSHIP — REINSTATEMENT.
Section 59-1361 - COMPUTATION OF DEATH BENEFITS — METHOD OF PAYMENT — OPTIONAL DEATH BENEFIT.
Section 59-1361A - PUBLIC SAFETY OFFICER DEATH BENEFITS.
Section 59-1362 - PURCHASE OF ACTIVE DUTY SERVICE IN THE ARMED FORCES.
Section 59-1363 - PURCHASE OF MEMBERSHIP SERVICE.
Section 59-1365 - VOLUNTARY UNUSED SICK LEAVE POOL.
Section 59-1381 - MERGER OF CITY SYSTEMS INTO STATE EMPLOYEE SYSTEM — DEFINITIONS.
Section 59-1382 - CITY ORDINANCE ELECTING MERGER — CONTRACT WITH BOARD.
Section 59-1384 - BENEFITS NOT REDUCED.
Section 59-1391 - DEFINITIONS.
Section 59-1393 - CONTRIBUTIONS.
Section 59-1394 - EXCESS COSTS — ADDITIONAL CONTRIBUTIONS.
Section 59-1395 - MEMBERSHIP RIGHTS AND DUTIES.
Section 59-1396 - LIMIT ON SEPARATION BENEFIT.
Section 59-1397 - BENEFITS PAYABLE.
Section 59-1398 - MEMBERSHIP IN SOCIAL SECURITY.
Section 59-1399 - COOPERATION OF STATE INSURANCE FUND.
Section 59-1399A - DIVESTMENT OF CERTAIN ASSETS RELATED TO RUSSIA.