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607 North 8th Street
Boise, Idaho 83702-5518
Governance[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
The Public Employee Retirement System of Idaho (PERSI) was formed in 1963 by the 37th Idaho Legislature, with funding effective July 1, 1965. The first Retirement Board, with assistance from the Idaho State Employees’ Association (now Idaho Public Employees’ Association), met throughout the Fall of 1964 and the Spring of 1965 to organize the system. One of their initial tasks was to select the first director. In August 1965, initial fund assets of the system totaling US$ 324,794 were transferred to First National City Bank (now West One). The bank was PERSI’s first investment manager, placing 70% of the portfolio in fixed assets and 30% in equity investments. This mix gave a rate of return of 4.28% for the portfolio’s first year.
In 1967, Idaho – Teacher’s Retirement System merged with PERSI, adding 11,000 active members, 1,600 retirees, and US$ 20 million to the system.
Historical Assets Under Management[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]