Bill > HB85

This bill addresses employer contribution rates for four different retirement systems in Montana: the Judges' Retirement System (JRS), Highway Patrol Officers' Retirement System (HPORS), Sheriffs' Retirement System (SRS), and Game Wardens' and Peace Officers' Retirement System (GWPORS). The bill institutes a 0% employer contribution rate for the Judges' Retirement System and adjusts contribution rates for the other systems. For the Highway Patrol Officers' Retirement System, the state will continue to pay 38.33% of compensation, with 28.15% coming from existing compensation sources and 10.18% from the general fund. For the Sheriffs' Retirement System, the employer contribution rate is reduced to 9.535%, with additional contributions of 0.58% and 3% required, subject to potential termination based on the system's unfunded liability amortization period. The Game Wardens' and Peace Officers' Retirement System will maintain a 10.56% employer contribution rate. The bill also includes a statutory appropriation for these contributions and requires the respective departments to budget and request legislative appropriations for these costs. The changes are retroactively applicable to employer contribution rates on or after July 1, 2023, with most provisions becoming effective July 1, 2025. An appropriation of over $4.7 million from the general fund is included to support these retirement systems.

Budget and Finance, Government Affairs

https://bills.legmt.gov/#/laws/bill/2/LC0227