Payment Of Insurance Premiums

Upon certification by the state agency, political subdivision or government entity and the insurance carrier that a plan qualifies under Section 553 of this subchapter, the board may pay the monthly premiums for a retired member using unused sick leave account funds as prescribed by Idaho Code. (7-1-24) 01. Adjustments. Coverage and premium changes or adjustments must be submitted to PERSI no less Beginning: July 1, 2006 9-10 days 1.16% 11-14 days 1.26% More than 14 days Individual rate to be set by the Retirement Board based on current cost and actuarial data and reviewed annually IDAHO ADMINISTRATIVE CODE IDAPA 59.01.01 Public Employees Retirement System of Idaho Rules for PERSI Section 555 Page 21 than thirty (30) days prior to their effective date unless PERSI has previously agreed in writing to a shorter period. (7-1-24) 02. Duration of Payments. Premium payments will continue to be made from the unused sick leave account until credits are insufficient to make a premium payment, or until the retiree’s death, whichever first occurs. (7-1-24)