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 of 38.33% for the Highway Patrol Officers' Retirement System, 13.115% for the Sheriffs' Retirement System, and 10.56% for the Game Wardens' and Peace Officers' Retirement System. Additionally, it introduces a maximum annual increase and decrease of 0.5% for the actuarially determined employer contribution rates, ensuring that these rates cannot fall below the specified minimums.

The bill amends sections 19-6-404, 19-7-404, and 19-8-504 of the Montana Code Annotated (MCA) to incorporate these changes and defines "contemporary unfunded liability" and "legacy unfunded liability" for clarity. The effective date for these changes is set for July 1, 2025. The legislation aims to provide a more stable and predictable funding mechanism for these retirement systems while addressing unfunded liabilities.

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