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.

Additionally, the bill specifies that individuals who are not currently members of any retirement system and are elected or appointed as legislators for the first time on or after July 1, 2025, must become active members of the public employees' retirement system defined contribution plan. The effective date for these changes is set for June 30, 2025. The bill aims to streamline the retirement options for new legislators while ensuring that they participate in the defined contribution plan if they do not have prior retirement system membership.

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): 5-2-304
SB0141_1: 5-2-304