2005 Idaho Code - 59-1321 — PROCEDURE FOR EMPLOYEES OF POLITICAL SUBDIVISIONS TO BE INCLUDED IN RETIREMENT SYSTEM

                                  TITLE  59
                          PUBLIC OFFICERS IN GENERAL
                                  CHAPTER 13
                      PUBLIC EMPLOYEES RETIREMENT SYSTEM
    59-1321.  PROCEDURE FOR EMPLOYEES OF POLITICAL SUBDIVISIONS TO BE INCLUDED
IN RETIREMENT SYSTEM. A political subdivision not participating in the system
may, through its governing body, notify the board in writing that it elects to
include its employees in the system. The board shall make a study and estimate
the cost of including such employees in the system. Upon completion of the
study and under the condition that the excess cost, if any, to include the
employees as active members is paid upon admission, the political subdivision
may apply for admission to the system. Payment of excess cost shall be made
upon admission, unless the board in its sole discretion grants an extension.
In no case shall an extension exceed two (2) years. Thereupon the board may
upon such terms, not inconsistent with this chapter, as are set forth in a
contract between the board and the political subdivision, integrate said
political subdivision, and its employees into the system established by this
chapter effective on the date of notice of election or later unless otherwise
prohibited by law. The contract shall have no effect, however, until notice
and hearing regarding it is afforded to such employees. Such contract shall
provide for the appropriate funding of accrued benefits under any existing
retirement program at the time the political subdivision is admitted to the
system.