(1) An employer, pursuant to the provisions of section 414(h)(2) of the Internal Revenue Code of 1954, as amended, shall pick up and pay the contributions which would be payable by the employees as members under sections 59-1331 and 72-1431, Idaho Code, with respect to the service of employees after June 30, 1983.
(2)  The members’ contributions picked up by an employer shall be designated for all purposes of the retirement system as member contributions, except for the determination of tax upon a distribution from the retirement system. These accumulated contributions shall become part of the members’ accumulated contributions, but accounted for separately from those previously accumulated.

Terms Used In Idaho Code 59-1332

  • Accumulated contributions: means the sum of amounts contributed by a member of the system, together with regular interest credit thereon. See Idaho Code 59-1302
  • Employer: means the state of Idaho, or any political subdivision or governmental entity, provided such subdivision or entity has elected to come into the system. See Idaho Code 59-1302
  • Member: means an active member, inactive member or a retired member. See Idaho Code 59-1302
  • Retirement: means the acceptance of a retirement allowance under this chapter upon termination of employment and, unless otherwise provided by law, requires a termination of employment from an employer participating in PERSI, the judges retirement fund, the firefighters retirement fund or the optional retirement plan. See Idaho Code 59-1302
  • Salary: means :
Idaho Code 59-1302
  • Service: means being shown on an employer’s payroll as an employee receiving a salary. See Idaho Code 59-1302
  • system: means the public employee retirement system of Idaho. See Idaho Code 59-1302
    • (3)  Member contributions picked up by an employer shall be payable from the same source as is used to pay compensation to a member, and shall be included in the member’s salary as defined in subsection (31) of section 59-1302, Idaho Code.