Senate Bill No. [insert bill number] aims to revise pension laws concerning service credit for legislative members in Montana. The bill amends Section 19-3-521 of the Montana Code Annotated (MCA) to clarify that a member of the legislature will receive membership service and service credit starting from the date they assume office, provided they pay regular contributions for that portion of each year. Additionally, the bill specifies that when calculating the service retirement benefit for legislative members, the applicable plan provisions will be those relevant to the earliest period for which the member has paid required contributions or purchased service credit, but not before the date they assumed office, unless they have prior non-legislative covered employment.

The bill also establishes an effective date of July 1, 2025, for these changes to take effect. The revisions aim to ensure clarity and consistency in how service credit is calculated and awarded to legislative members, thereby enhancing the pension system's integrity for those serving in the Montana legislature.

Statutes affected:
LC Text: 19-3-521
SB0419_1(1): 19-3-521
SB0419_1(2): 19-3-521
SB0419_1: 19-3-521