Senate Bill No. [number] proposes revisions to 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 sections 19-6-404, 19-7-404, and 19-8-504 of the Montana Code Annotated (MCA) to incorporate these changes. It also includes a provision that the employer contributions will be effective starting July 1, 2024, with the act itself set to take effect on July 1, 2025. The revisions aim to ensure the financial stability of the retirement systems while providing a structured approach to managing 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(5): 19-6-404, 19-7-404, 19-8-504
SB0122_1(6): 19-6-404, 19-7-404, 19-8-504
SB0122_1: 19-6-404, 19-7-404, 19-8-504