The bill amends Section 19-17-404 of the Montana Code Annotated to increase the monthly pension benefit for eligible volunteer firefighters. Specifically, the full pension benefit is raised from $175 to $200 per month. Additionally, the bill 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 increase of $7.50 per month for each additional year, up to a maximum of 30 years of service.

Furthermore, the bill introduces provisions for members who have completed over 30 years of credited service, allowing for an additional $7.50 increase per month for each year beyond 30, contingent upon the actuarial soundness of the pension trust fund and the amortization period for unfunded liabilities being 20 years or less. The bill clarifies that members do not have a contractual right to these additional benefits if the financial conditions are not met. The effective date for these changes is set for July 1, 2025.

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(4): 19-17-404
HB0358_1(5): 19-17-404
HB0358_1: 19-17-404
HB0358_X(1): 19-17-404
HB0358_X(2): 19-17-404
HB0358_X(3): 19-17-404
HB0358_X(4): 19-17-404
HB0358_X(5): 19-17-404
HB0358_X: 19-17-404