2005 Idaho Code - 72-1335 — PERSONNEL

                                  TITLE  72
                      WORKER'S COMPENSATION AND RELATED
                        LAWS -- INDUSTRIAL COMMISSION
                                  CHAPTER 13
                           EMPLOYMENT SECURITY LAW
    72-1335.  PERSONNEL. (1) The director is authorized to appoint, fix the
compensation, and prescribe the duties and powers of such officers, employees,
and other persons as may be necessary. The director may delegate to any such
person such power and authority as he deems reasonable and proper for the
effective administration of this chapter, and may, in the time, form and
manner prescribed by chapter 8, title 59, Idaho Code, bond persons handling
moneys or signing checks hereunder, such bond to be paid from the employment
security administration fund.
    (2) (a)  Subject only to the provisions of this chapter and such rules as
    the director may prescribe, the director is authorized and directed to
    establish and maintain a group pension plan providing retirement,
    disability, and death benefits for employees of the department through the
    means of group contracts negotiated with an insurer, licensed and
    qualified to do business under the laws of the state of Idaho.
    (b)  Employees covered by the plan shall include all employees (other than
    temporary and hourly-rated employees) who are in employee status with the
    department and whose employment commenced before October 1, 1980.
    (c)  Credited service shall mean all service by employees in the employ of
    the department (exclusive of leaves without pay other than military leave)
    as follows:
         (i)   Past service rendered prior to the effective date of the plan
         by employees; for this purpose prior service shall include service in
         any of the predecessor, component organizations thereof, as
         determined appropriate by the director on the effective date, and
         shall also include leave-of-absence for military service occurring
         within a period of otherwise continuous service in any such
         predecessor organizations.
         (ii)  Future service rendered on and after said effective date.
         (iii) An employee of the department placed on loan or special duty
         with other governmental units may be deemed to be in credited service
         when the costs of continuing credited service are made reimbursable
         in accordance with an agreement approved by the director.
    (d)  For each year of credited service each employee covered under the
    plan shall receive a monthly pension commencing upon retirement at or
    after age sixty-five (65) and continuing until death, of not less than one
    and one-half percent (1 1/2%) of monthly earnings, except that appropriate
    schedules and conditions for service retirement, early retirement,
    disability retirement, and contingency annuity options shall be included
    in the insurance plan. Notwithstanding any other provisions of this
    section to the contrary, the director is authorized and directed to
    negotiate with the insurer to invest any interest, dividends, earnings, or
    other moneys accruing to the funds financing the employees' retirement
    program with the insurer to purchase additional retirement benefits. The
    purchase of said additional benefits shall be contingent upon actuarial
    appraisals of the plan and shall be based on sound actuarial principles.
    Total retirement benefits to be provided under the program shall meet the
    requirements of the Internal Revenue Service for integration purposes.
    (e)  The cost of past service, future service and disability pensions
    shall be calculated according to sound actuarial principles. The costs of
    the plan, including funding of past service pensions which shall be funded
    over a period of time consistent with good insurance practices, shall be
    paid from administrative funds available to the department. Each employee
    covered under the plan shall by payroll deduction contribute toward the
    cost of future service pensions at not less than the rate paid by the
    department, but not to exceed seven percent (7%) of monthly earnings.
    (f)  Upon termination of service, an employee may elect to receive the
    refund of his contributions plus interest or may elect to have the
    tax-deferred contributions and interest directly rolled over to an
    individual retirement account or annuity or to another qualified
    retirement plan that accepts the roll over, pursuant to 26 U.S.C. 402(c).
    A vested employee, as provided in the insurance contract, who leaves his
    contributions in the plan will remain entitled to the pension purchased by
    the contributions made on his behalf, and all other privileges under the
    plan.
    (g)  If an employee dies more than ten (10) years before his normal
    retirement date, all of his contributions plus interest will be returned
    to a previously-named beneficiary, subject to survivor benefits as
    provided in the plan. The following provisions of this subsection shall be
    subject to a contingency annuity option. If an employee dies on or after
    the date ten (10) years prior to his normal retirement date, it will be
    assumed that he retired on the first day of the month following his date
    of death, and his beneficiary shall receive, beginning on the assumed
    retirement date, one hundred twenty (120) monthly pension payments. The
    amount of monthly pension payable will be based on the credit accrued to
    that time and the employee's assumed earlier retirement age. If death
    occurs after retirement but before one hundred twenty (120) monthly
    pension payments have been made, the monthly pension will be continued to
    his beneficiary until a total of one hundred twenty (120) monthly payments
    have been made.