Senate Bill No. introduced by F. Mandeville aims to revise the employer contribution rates for the Highway Patrol Officers' Retirement System, the Sheriffs' Retirement System, and the Game Wardens' and Peace Officers' Retirement System. The bill establishes a minimum contribution rate for employers, ensuring that the rates cannot fall below 38.33% for the Highway Patrol, 13.115% for Sheriffs, and 10.56% for Game Wardens. Additionally, it introduces a maximum annual increase and decrease of 0.5% for the actuarially determined employer contribution rates, which will be calculated annually by the public employees' retirement board's actuary.

The bill amends existing sections of the Montana Code Annotated (MCA) to incorporate these changes and includes definitions for "contemporary unfunded liability" and "legacy unfunded liability." The effective date for these changes is set for July 1, 2025. The legislation aims to ensure the financial stability of these retirement systems while providing a structured approach to employer contributions.

Statutes affected:
LC Text: 19-6-404, 19-7-404, 19-8-504
SB0122_1(1): 19-6-404, 19-7-404, 19-8-504
SB0122_1(2): 19-6-404, 19-7-404, 19-8-504
SB0122_1(3): 19-6-404, 19-7-404, 19-8-504
SB0122_1(4): 19-6-404, 19-7-404, 19-8-504
SB0122_1: 19-6-404, 19-7-404, 19-8-504