ID H0605

Appropriates $7,119,100 to the Public Employee Retirement System of Idaho for fiscal year 2015 (July 1, 2014 through June 30, 2015), including $6,218,000 for Retirement Administration and $901,100 for Portfolio Investment

Authorizes no more than 64 full-time equivalent positions during the fiscal year period, unless specifically authorized by the Governor, with prompt notification to the Joint Finance-Appropriations Committee of any increases

Designates appropriated funds for Portfolio Investment Program as administrative costs only, with other investment expenses perpetually appropriated to the Public Employee System Board

Directs a 1% upward adjustment to the compensation schedule to move salary structure toward market rates and continuation of payline exception job classifications for recruitment and retention

Encourages funding an ongoing 1% salary increase plus a one-time 1% merit-based bonus for state employees, with agencies directed to reinvest salary savings from turnover and reorganization into employee compensation