The Public Employee Retirement System of Idaho was created in 1963 by the 37th Idaho Legislature, with funding effective July 1, 1965. The first Retirement Board, with assistance from the Idaho State Employees Association (now Idaho Public Employees Association), met throughout the Fall of 1964 and the Spring of 1965 to organize the system. One of their initial tasks was to select the first director. After considering 56 applicants, the Board selected six-term legislator, Tommy Terrell, as PERSI’s director. Terrell was chosen for his knowledge of state government and his background in finance and insurance.