Loading chat...
ID H0158
Bill
AI Summary
-
Amends Section 33-107B of Idaho Code to modify institutional contribution rates for the optional retirement program at community colleges and postsecondary professional-technical education institutions.
-
Effective July 1, 2011, the institutional contribution optional retirement program rate shall equal the PERSI (Public Employee Retirement System of Idaho) contribution rates, replacing the previous rate structure of 7.81% to designated companies and 3.83% to PERSI.
-
Applies to teaching staff and officers at North Idaho College, College of Southern Idaho, and Eastern Idaho Technical College hired on or after July 1, 1997, who participate in the optional retirement program.
-
Makes a technical correction to existing law governing the optional retirement program for these institutions.
Legislative Description
Amends existing law relating to the State Board of Education to provide that the institutional contribution optional retirement program rate shall be equal to PERSI contribution rates.
EDUCATION BOARD
Last Action
Governor signed Session Law Chapter 118 Effective: 07/01/11
3/22/2011