Idaho State Statutes - Idaho Attorney Directory

VOLUNTARY RETIREMENT -- YEARS OF SERVICE DETERMINE PENSION
BENEFIT. (1) Any Option I firefighter, as provided in section 72-1434, Idaho
Code, who has had the contributions remitted as provided in sections 72-1431
and 72-1432, Idaho Code, for the same number of years as he claims for service
as a paid firefighter in Idaho, may at his option retire, and upon retirement
shall be paid from the public employee retirement account a monthly sum during
the remainder of his life equal to:
(a) after twenty (20) years of service and contributions, forty percent
(40%) of the average paid firefighter's salary or wage; or
(b) after twenty-one (21) years of service and contributions, forty-five
percent (45%) of the average paid firefighter's salary or wage; or
(c) after twenty-two (22) years of service and contributions, fifty
percent (50%) of the average paid firefighter's salary or wage; or
(d) after twenty-three (23) years of service and contributions,
fifty-five percent (55%) of the average paid firefighter's salary or wage;
or
(e) after twenty-four (24) years of service and contributions, sixty
percent (60%) of the average paid firefighter's salary or wage; or
(f) after twenty-five (25) years of service and contributions, sixty-five
percent (65%) of the average paid firefighter's salary or wage.
All benefit payments to Option I firefighters shall be based on the
average paid firefighter's salary or wage in this state as defined in section
72-1431, Idaho Code. Option I monthly benefit payments shall vary annually
according to the determination of the cost of living adjustment as set forth
in section 72-1471, Idaho Code.
(2) Any Option II firefighter, as provided in section 72-1434, Idaho
Code, who has had the contributions remitted as provided in sections 72-1431
and 72-1432, Idaho Code, for the same number of years as he claims for service
as a paid firefighter in Idaho, may at his option retire, and upon retirement
shall be paid from the public employee retirement account a monthly sum during
the remainder of his life equal to:
(a) after twenty (20) years of service and contributions, forty percent
(40%) of his average salary or wage; or
(b) after twenty-one (21) years of service and contributions, forty-five
percent (45%) of his average salary or wage; or
(c) after twenty-two (22) years of service and contributions, fifty
percent (50%) of his average salary or wage; or
(d) after twenty-three (23) years of service and contributions,
fifty-five percent (55%) of his average salary or wage; or
(e) after twenty-four (24) years of service and contributions, sixty
percent (60%) of his average salary or wage; or
(f) after twenty-five (25) years of service and contributions, sixty-five
percent (65%) of his average salary or wage.
All benefit payments to Option II firefighters shall be based on his
average final compensation as defined in section 72-1404, Idaho Code. Option
II monthly benefit payments shall vary annually according to the determination
of the cost of living adjustment as set forth in section 72-1471, Idaho Code.

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