No Subject

[Tom Trail <ttrail@moscow.com>]

         Visionaries:  This is an up-to-date July 1/99-June 30/2000 report
on the Idaho PERSI Fund.
         This is the major retirement program for Idaho State Employees
including teachers, many
          higher education personnel, and city and county employees.  This
is the summary report
          report from Alan Winkle, PERSI Director.

         Tom:

>>>>We came out of the fiscal year with an estimated 12.9% return.  When
>>>>compared
>>>>to the liabilities it will be about 14% because of the extra earning
>>>>from the
>>>>surplus.  Bob estimates that means about $150 to 170 million in gains
>>>>sharing.  We will see what the actuaries say.  Might have some better
>>>>numbers next week.
>>>>
>>>>Alan H. Winkle, Director, PERSI, State of Idaho
>>>>208-334-2455

        Visionaries:
>>>>
>  --It looks like more good news for PERSI employers, retirees, and employees.
>>>All new retirees will get a 4.34% increase in their retirement check
>>>starting this month.  Alan
>>>Winkle's remarkable management of PERSI in a very up and down market is
>>>paying off.
>>>Any time you can get a 14% return in such a year is excellent management.
>>>The gains sharing with 50% going to employers as future contribution
>>>credits, 13% to
>>>retirees as a January "bonus" check, and 37% to employees to go into
>>>PERSI tax deferred
>>>401 k type portfolio will make it a win-win situation.
>>>
>>>It is a pleasure to have been the Co-sponsor for this  significant
>>>legislation and to see the benefits
>>>flow from the legislation and Alan's good stewardship.   The July 4.34%
>>>increase
>>>for new retirees is a immediate impact, and the gains sharing will be
>>>enjoyed by everyone
>>>later this year.
>>>
>>>Rep. Tom Trail/Dist. 5
>>>
>>>
>>
>>
>
>

Dr. Tom Trail
International Trails
1375 Mt. View Rd.
Moscow, Id. 83843
Tel:  (208) 882-6077
Fax:  (208) 882-0896
e mail ttrail@moscow.com