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Your PERSI
Choice
Plan 401(k)
Most active members have two PERSI accounts:
Base
Plan
- this is your regular, mandatory PERSI plan. Your Base Plan is a Defined Benefit plan, meaning your retirement benefit is based on a defined formula.
Choice
Plan 401(k) - this is your PERSI account that
you may contribute to voluntarily. It contains gain sharing distributions, any voluntary contributions you
make, rollovers you may make from other plans, possible employer contributions, and the earnings on those funds. Your Choice Plan is a Defined Contribution plan, meaning that the amount you receive at retirement is based on the contributions and earnings in the plan.
Choice
Plan Frequently Asked Questions (FAQs)
My
Choice Plan Account - Access your account or request a PIN reminder letter here or by phone (toll-free 1-866-ID-PERSI).
You may view account balance details (total, vested amount, by funds and by source), review plan guidelines and fund details. You may also make
changes to the allocation of current and future contributions, request PIN
changes and order materials. PERSI's partner for Choice Plan Record Keeping
is ACS HR Solutions
| Choice Plan 401(k) Informational Materials
and Forms |
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Request
an Enrollment Kit
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An e-mail link to request a Choice Plan
401(k) Enrollment Kit, which includes an Enrollment Form, Fund
Transfer Worksheet, and Fund Summaries from all investment options. |
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Choice
Plan 401(k) Deferral Election Form
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You may begin voluntary contributions to the Choice Plan at any time (depending on your employer's ability to accept voluntary contributions). To begin contributions, complete this
Enrollment Form and return it to your Payroll Clerk.
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Choice Plan
Guide (1,279K pdf)
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Explains investment terminology, the advantages of pre-tax
savings, the power of compounding, "risk and reward," and investment
time horizons.
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Choice Plan
Highlights(556K pdf)
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This is a 4-page brochure that explains the specifics of the
Plan, such as contributions, rollovers, election changes,
in-service withdrawals, loan features, investment options,
distribution options, and record keeping fees. |
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Choice Plan
Legal Document
(162K pdf)
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This is a 36-page document of plan definitions and regulations.
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Choice
Plan Fund Transfer Worksheet
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The PERSI Total Return Fund is
the default investment fund. If you want to transfer money from that fund
into the other 10 investment fund options, use this handy worksheet.
Changes can be made via this Web site or by calling the toll-free number
(1-800-437-3774). Have your Social Security Number and PIN handy.
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| Savings
Limits Calculator 2008, 2007 |
Online calculator for testing
your contribution limits for the calendar year.
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Request
to Contribute Rollover Funds to the Choice
Plan 401(k)
Choice Plan 401K Acceptance Letter |
The Choice Plan accepts rollover contributions from other qualified retirement plans. Instructions and additional information are included with the form to guide you through the process. The Choice Plan 401(k) Acceptance Letter states that the Choice Plan is a qualified retirement plan which will accept your rollover. You can print it and give it to the administrator of your other plan or IRA along with the completed form.
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| Choice
Plan 401K Request for Distribution/Rollover |
If you are no longer employed by
a PERSI employer, you may receive your funds from the Choice Plan. Refer
to the instructions on the form for complete information about a
distribution or rollover from your Choice Plan account. The Special Tax
Notice included with the form explains the tax consequences of taking a
distribution from your retirement plan.
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| Choice
Plan 401(k) Request for Death Benefit Payment |
Use this form to certify that
you are a beneficiary of a deceased Choice Plan
participant and to request payment of the deceased participant’s Choice
Plan funds.
Instructions and important tax information are included with the form.
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| What
Happens to Your Choice Plan Money When You Retire? |
This document helps members
understand the distribution options for their Choice Plan 401(k) money at
retirement.
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Choice
Plan Investment Options
- Summaries of the various of investment options available to you, and links to
fund sites.
Choice
Plan Investment Policy - The Choice Plan is intended to be a long-term
investment vehicle rather than a platform for speculative investment activities.
To see the plan's investments policy follow this link.
Choice
Plan 401(k) Trading Restrictions - Rapid trading
practices by a small number of Choice Plan participants triggers Retirement
Board to make changes to 401(k) investment policies.
Education
Opportunities:
PERSI My Account Information
Click here to see PERSI
My Account Information. With
this, you'll use your actual PERSI Base and Choice Plan account balances and
data, and can calculate how much to save in your Choice plan to meet your
savings and retirement goals.
Go
to a PERSI/Financial Planning Workshop
PERSI
Training Specialists provide a variety of presentations throughout
Idaho. If you'd like a workshop at your place of employment, ask your
payroll/human resources department to schedule one.
Introductory
CD This
CD contains everything you need to get started in the Choice Plan 401(k)
including: a 7 minute video introducing you to some investment basics, all
sign-up forms and printed materials, a list of FAQs, and links to financial
calculators.
To receive a copy of the CD call 208-334-3365.
Employers Workshops
If you would like to schedule a workshop on PERSI Base and Choice Plan
information or Financial Planning, please call PERSI at 1-800-451-8228
or 208-334-3365.
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