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<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'>Visionaries,<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'>This is good news for PERSI
participants.<span style='color:#1F497D'> </span> However, UI employees who are
on the University’s Optional Retirement Program (ORP), which is subject to
market fluctuations, have taken a hard hit as a result of this recession.<span
style='color:#1F497D'> </span> ORP participants have been required to subsidize
PERSI since 1990.<span style='color:#1F497D'> </span> Especially with PERSI
doing so well, the time is ripe to end this subsidy.<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'>Judy<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-size:
10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>Moscow-Pullman <i>Daily News</i><o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><b><span style='font-size:
16.0pt;font-family:"Times New Roman","serif"'>Faculty Senate calls for end to
retirement plan subsidy<o:p></o:p></span></b></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>Published on: November 4, 2009<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>University of Idaho Faculty Senators want the
state’s university presidents, board of education members and faculty
leadership to pressure the Idaho Legislature to drop a requirement that members
of the UI’s Optional Retirement Plan subsidize the Public Employees Retirement
System of Idaho.<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>Senators passed a resolution Tuesday afternoon
strongly recommending the aforementioned parties ask the Legislature to end the
subsidy and redirect the PERSI-bound money into accounts of ORP participants.<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>The resolution’s text states the Legislature in 1990
directed that a portion of the employer-paid contributions reserved for ORP
members be paid to PERSI, even though ORP participants do not benefit from
PERSI. It also says ORP accounts are subject to market fluctuations,
while PERSI members do not experience such a risk, leading to “unfair and
unequal treatment of OPR participants.”<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>Senate Chairman Jack Miller said if the Legislature
eventually does away with the subsidy, PERSI may need to seek additional
funding in the form of a rate increase. However, he said the subsidy’s
elimination wouldn’t affect the benefits of current PERSI enrollees.<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'>“All it would be doing, in my estimation, is taking
away a subsidy that should never have been there in the first place,” he said.<o:p></o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText style='margin-right:189.75pt'><span style='font-family:
"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Times New Roman","serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>-----Original
Message-----<br>
From: vision2020-bounces@moscow.com [mailto:vision2020-bounces@moscow.com] On
Behalf Of Tom Trail<br>
Sent: Friday, December 11, 2009 6:51 AM<br>
To: vision2020@trumpet.fsr.net<br>
Subject: [Vision2020] Good Economic News<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Visionaries:<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>One
has to look hard for good economic news in Idaho these days. I just<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>talked
to Don Drum, the Executive Director of PERSI--Idaho Public Employees<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Retirement
Fund. The information he shared with me is current as of today.<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>The
PERSI Fund stands at $10.5 billion which is ahead of the total when<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>the
market dropped. From July 1, 2009 the Fund has a return of $15.8%<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>which
is the best return in PERSI history.<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>PERSI
retirees will receive a 1% COLA which will be effective March 1st.<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Employers
have been expecting a contribution rate increase for the<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>coming
year, but Don told me that the Fund is performing so well that<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>there
will probably be no increase at all.<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>That's
my one good glimmer of good news.<o:p></o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'><o:p> </o:p></span></p>
<p class=MsoPlainText><span style='font-size:10.0pt;font-family:"Arial","sans-serif"'>Rep.
Tom Trail<o:p></o:p></span></p>
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