House Bill No. [insert bill number] proposes an increase in the monthly pension benefit for members of the Volunteer Firefighters' Compensation Act. Specifically, the bill amends Section 19-17-404 of the Montana Code Annotated (MCA) to raise the full pension benefit from $175 to $200 per month. Additionally, it maintains the existing structure for calculating partial pension benefits based on years of service, while also stipulating that members who continue active service beyond 20 years will receive an incremental increase of $7.50 per month for each additional year, up to a maximum of 30 years. For members with over 30 years of credited service, the bill allows for further increases, contingent upon the actuarial soundness of the pension trust fund.

The bill also introduces a new section that establishes an effective date for these changes, set for July 1, 2025. This timeline allows for the necessary adjustments to be made within the pension system before the new benefits take effect. Overall, the bill aims to enhance the financial support provided to volunteer firefighters in recognition of their service.

Statutes affected:
LC Text: 19-17-404
HB0358_1(1): 19-17-404
HB0358_1(2): 19-17-404
HB0358_1(3): 19-17-404
HB0358_1: 19-17-404