Senate Bill No. introduced by F. Mandeville aims to revise the participation requirements for legislators in public retirement systems. The bill amends Section 5-2-304 of the Montana Code Annotated (MCA) to require that new legislators elected or appointed for the first time on or after July 1, 2025, must join the public employees' retirement system defined contribution plan. It also allows inactive or retired members of various retirement systems to either return to active membership or remain inactive while becoming active members of the public employees' retirement system, depending on their prior membership status.

The bill includes specific provisions for different categories of legislators based on their previous retirement system affiliations. For instance, those who are inactive or retired members of defined benefit retirement systems or the university system retirement program can choose to return to active membership or join the defined contribution plan. Additionally, a new section establishes that the act will take effect on June 30, 2025. Overall, the legislation seeks to streamline the retirement options available to newly elected legislators while ensuring they participate in the public employees' retirement system.

Statutes affected:
LC Text: 5-2-304
SB0141_1(1): 5-2-304
SB0141_1(2): 5-2-304
SB0141_1(3): 5-2-304
SB0141_1(4): 5-2-304
SB0141_1: 5-2-304