Bill > SB7

This bill repeals recent changes to retirement criteria for two specific Montana public safety retirement systems: the Highway Patrol Officers' Retirement System (HPORS) and the Sheriffs' Retirement System (SRS). The bill removes a previous provision that would have required members hired on or after July 1, 2023, to both complete 20 years of membership service and reach the age of 50 to be eligible for a nonforfeitable service retirement benefit. Instead, the bill restores the original eligibility requirement of simply completing 20 years of membership service, regardless of age. The legislation applies retroactively to members hired on or after July 1, 2023, and becomes effective immediately upon passage. For compliance with the Internal Revenue Code, the bill clarifies that a vested member has attained normal retirement age either when they reach age 50 or complete 20 years of membership service, whichever occurs later, ensuring that members retain their right to service retirement benefits under the previous, less restrictive criteria.

Government Affairs

https://bills.legmt.gov/#/laws/bill/20251/LC0226