Public Employee Retirement System of Idaho

Public Employee Retirement System of Idaho

The Public Employee Retirement System of Idaho was established in 1963 by the State of Idaho to deliver retirement, disability, survivor and separation benefits. It covers active public employees, retirees and beneficiaries statewide. The plan sponsor relationship with the State of Idaho determines board appointments and contribution policy. The system targets an 8 percent private equity allocation and currently sits at 7.4 percent. Holdings include commitments to KKR North America Fund XIV, GTCR Strategic Growth Fund II, Platinum Equity Small Cap Fund II and EPIC Ventures VII. Real estate exposure runs through direct Idaho commercial mortgages administered by D.B. Fitzpatrick & Co. and separate accounts managed by AEW Capital Management and Principal Asset Management. Fixed income holdings exceed $7.4 billion, including TIPS positions. Geographic reach centers on North America with selected European and global fund commitments. The portfolio supports roughly 25,000 million dollars in assets. Additional offices are not maintained. Service providers include Callan as general investment consultant, Hamilton Lane as private equity consultant and BNY Mellon as custodian. In December 2024 the Retirement Board reviewed private equity performance and a new GTCR commitment. In March 2025 the board examined actuarial assumptions and contribution rates. Governance flows through a Retirement Board appointed by the State of Idaho with the Executive Director handling administration and the CIO directing investment execution. This structure separates plan sponsorship from day-to-day portfolio decisions while retaining public oversight.