Idaho State Statutes - Idaho Attorney Directory

(1) In addition to the
employee and employer contributions required by chapter 14, title 72, Idaho
Code, additional contributions shall be required to fund the provisions of
section 59-1397, Idaho Code. These costs shall be borne by employers and by
the state of Idaho as hereinafter provided.
(a) Fifty percent (50%) of the gross receipts by the state of the tax on
fire insurance premiums, as provided by section 41-402, Idaho Code, is
hereby perpetually appropriated to the public employee retirement account
for the purpose of partially funding the benefit payment requirements
imposed by the provisions of chapter 14, title 72, Idaho Code.
(b) The board shall conduct studies from time to time of the benefits
prescribed by section 59-1397, Idaho Code, to determine the additional
contributions required to fund the rights conferred by chapter 14, title
72, Idaho Code, above and beyond the initial contribution from the fire
insurance premium tax required by subsection (1) (a) of this section. If
such studies indicate the value of the benefits exceeds the required
contributions otherwise prescribed, the board shall establish an
additional contribution rate necessary to bring the amounts into balance.
The cost of such additional contribution shall be borne equally by the
employers through additional contributions and the state of Idaho through
the fire insurance premium tax. In addition to appropriation of the fire
insurance premium tax contained in subsection (1) (a) of this section, the
amount of the gross receipts by the state of the tax on fire insurance
premiums, as provided by section 41-402, Idaho Code, necessary to match
dollar for dollar the additional contribution required of employers is
hereby perpetually appropriated commencing July 1, 1980 to the public
employee retirement account for the purpose of subsection (1) (b) of this
section. If the matching funds herein provided equal one hundred percent
(100%) of the gross receipts from the fire insurance premium tax, the
employers shall contribute the balance of the monies required to meet the
required contribution rate. The additional contribution rate from the
employers commencing October 1, 1980 shall be ten percent (10%) of the pay
period salary of each paid firefighter until next determined by the board.
(2) Nothing herein contained shall prevent the board from contracting
with employers to provide a schedule of contributions which will retire any
excess cost over a given period of time, not to exceed fifty (50) years. In
the event that such agreements are reached, the amount of the fire insurance
premium tax necessary to match additional employer contributions is
continuously appropriated for that purpose.

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