This bill revises the supplemental employer contributions to various retirement systems in Montana, specifically extending and increasing the contribution rates for the Public Employees' Retirement System (PERS) and introducing new rates for the Highway Patrol Officers' Retirement System, the Sheriffs' Retirement System, and the Game Wardens' and Peace Officers' Retirement System. Key amendments include an increase in the additional employer contribution rate from 2.27% to 3.27% for PERS starting after June 30, 2035, and the introduction of a new employer contribution rate that begins at 0.1% for fiscal year 2026, increasing by 0.1% each year until it reaches 1% for fiscal years beginning after June 30, 2035, for the other retirement systems.

The bill also mandates that the public employees' retirement board review the additional employer contributions annually and recommend adjustments to ensure the amortization schedule for the system's unfunded liabilities is maintained. The additional employer contributions will terminate on July 1 following the board's receipt of the system's actuarial valuation if it is determined that such termination would not cause the amortization period to exceed 25 years. The effective date of the bill is set for July 1, 2025.

Statutes affected:
LC Text: 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(1): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(2): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(3): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(4): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(5): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1(6): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_1: 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(1): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(10): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(11): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(12): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(13): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(14): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(2): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(3): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(4): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(5): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(6): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(7): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(8): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2(9): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_2: 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X(1): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X(2): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X(3): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X(4): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X(5): 19-3-316, 19-6-404, 19-7-404, 19-8-504
SB0056_X: 19-3-316, 19-6-404, 19-7-404, 19-8-504