<table cellspacing="0" cellpadding="0" border="0" ><tr><td valign="top" style="font: inherit;"><DIV>Judy,</DIV>
<DIV> </DIV>
<DIV>Perhaps you can explain to us why people are on the ORP instead of PERSI?</DIV>
<DIV> </DIV>
<DIV>Thanks,</DIV>
<DIV> </DIV>
<DIV>Donovan Arnold<BR><BR>--- On <B>Fri, 12/11/09, JLBrown <I><jlbrown@turbonet.com></I></B> wrote:<BR></DIV>
<BLOCKQUOTE style="BORDER-LEFT: rgb(16,16,255) 2px solid; PADDING-LEFT: 5px; MARGIN-LEFT: 5px"><BR>From: JLBrown <jlbrown@turbonet.com><BR>Subject: Re: [Vision2020] Good Economic News<BR>To: vision2020@moscow.com<BR>Date: Friday, December 11, 2009, 6:36 PM<BR><BR>
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<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Visionaries,</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">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.</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Judy</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
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<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'">Moscow-Pullman <I>Daily News</I></SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><B><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'; FONT-SIZE: 16pt">Faculty Senate calls for end to retirement plan subsidy</SPAN></B></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'">Published on: November 4, 2009</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><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.</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><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.</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><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.”</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><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.</SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><SPAN style="FONT-FAMILY: 'Times New Roman', 'serif'"> </SPAN></DIV>
<P style="MARGIN-RIGHT: 189.75pt" class=MsoPlainText><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.</SPAN></DIV>
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<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">-----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</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Visionaries:</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">One has to look hard for good economic news in Idaho these days. I just</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">talked to Don Drum, the Executive Director of PERSI--Idaho Public Employees</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Retirement Fund. The information he shared with me is current as of today.</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">The PERSI Fund stands at $10.5 billion which is ahead of the total when</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">the market dropped. From July 1, 2009 the Fund has a return of $15.8%</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">which is the best return in PERSI history.</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">PERSI retirees will receive a 1% COLA which will be effective March 1st.</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Employers have been expecting a contribution rate increase for the</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">coming year, but Don told me that the Fund is performing so well that</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">there will probably be no increase at all.</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">That's my one good glimmer of good news.</SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt"> </SPAN></DIV>
<P class=MsoPlainText><SPAN style="FONT-FAMILY: 'Arial', 'sans-serif'; FONT-SIZE: 10pt">Rep. Tom Trail</SPAN></DIV></DIV></DIV><BR>-----Inline Attachment Follows-----<BR><BR>
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