The bill amends Section 19-17-404 of the Montana Code Annotated to increase the monthly pension benefit for eligible members of the Volunteer Firefighters' Compensation Act. Specifically, the full pension benefit is raised from $175 to $200 per month. Additionally, the bill outlines the calculation for partial pension benefits based on years of service and introduces provisions for increasing benefits for members who continue their service beyond 20 years, with specific increments for those who reach 30 years of service.

Furthermore, the bill establishes that the pension benefit for members with over 30 years of credited service may be increased by $7.50 per month for each additional year, contingent upon the actuarial soundness of the pension trust fund and the amortization period for unfunded liabilities remaining at 20 years or less. A new section is added to specify that the act will take effect on July 1, 2025.

Statutes affected:
LC Text: 19-17-404