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How is Idaho PERSI calculated?

You accrue 1 month of service for each calendar month you work as an active member of PERSI. A calendar month is one in which you are employed 15 days or more. Your total credited service is one of the factors in the formula used to determine your Base Plan benefit amount when you retire.

How much do you get from PERSI?

Within the first 3 to 5 years of retirement most members have already received all the money they contributed while working. For example, if your contributions to PERSI during your career totaled $60,000, and your monthly retirement benefit is $1500, you would receive your $60,000 in approximately 3 years.

What is the rule of 80 in Idaho?

You are eligible for normal (full) retirement benefits at: Age 60 with at least five years of service. Any age with at least 30 years of service. Rule of 80 - when the sum of your age plus your years of service equals 80 or more.

What are the survivor benefits in Idaho?

The benefit is 45% of the employees wage if survived by a spouse only or 60% if survived by a spouse and child(ren), with a minimum weekly benefit of $290.70 and a maximum weekly benefit of $581.40, with a maximum period of 500 weeks.

Can you collect PERSI and Social Security?

When you docHub SSFRA and begin receiving your Social Security benefit, the PERSI amount is reduced although your income remains somewhat constant. The accelerated amount is based on the number of years and months you are away from SSFRA when you retire under PERSIs plan.

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