Persi application 2025

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The document is an application form for retirement from the Public Employee Retirement System of Idaho (PERSI). It outlines the purpose of the form, which includes applying for retirement, naming a contingent annuitant, and authorizing direct deposit of benefit payments. The form requires personal information, selection of retirement benefit payment options, and acknowledgment from both the member and their spouse if applicable. Detailed instructions are provided for completing the form and understanding the available retirement options.

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Versions	Form popularity	Fillable & printable
2015	4.8 Satisfied (121 Votes)
2015	4.3 Satisfied (140 Votes)

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How much does PERSI pay?

PERSI covers 28,777 active school employees, and 16,103 retired school employees and beneficiaries. Employees contribute 6.23% out of each of their paychecks to the pension fund. The average retirement benefit is $16,448 per year, or $1,371 per month.

How do I cash out my Persi retirement?

To request a withdrawal or for more information, contact PERSIs Choice 401(k) Plan record keeper, toll- free at 1-866-437- 3774 or visit .mypersi401k.com.

Do you pay taxes on PERSI?

PERSI is required by law to withhold federal taxes of 20% on withdrawal payments of tax-deferred contributions and interest, unless you rollover your funds directly to another eligible retirement plan or IRA (see Tax Notice Regarding IRS Code and PERSI Base Plan Account Withdrawals below).

How is PERSI benefit calculated?

Your benefit is calculated based on your highest average monthly salary (gross salary) over a base period and your total months of service. A base period is the period of consecutive months during which you received your highest average monthly salary. This is usually near the end of a members career, but not always.

How does PERSI pay out?

When you retire as a vested member, PERSI will pay you a benefit every month for as long as you live and, if you select a retirement option with a survivor benefit, your Contingent Annuitant will receive a lifetime bene- fit after your death.

What are PERSI death benefits?

If you were an active member on or after July 1, 1999, the death benefit will equal two times your account balance. If your spouse was named as your sole primary beneficiary, they may elect to receive a lifetime monthly benefit.

How long does it take to be vested in Persi Idaho?

PERSI RETIREMENT PLAN When you earn 60 months of service credit, you will be vested to receive a lifetime benefit at retirement. The 60-month vesting period (5 months for elected and some ap- pointed officials) does not need to be with the same PERSI employer.

Persi application 2025

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