Montana HB700 reduces the amortization period for statewide defined benefit retirement systems from 30 years to 25 years.
Montana HB700 modifies the amortization period for statewide defined benefit retirement systems, reducing it from 30 years to 25 years. This change applies to several retirement systems, including those for teachers, public employees, municipal police officers, firefighters, and volunteer firefighters. However, the bill maintains the existing amortization periods for judges, highway patrol officers, sheriffs, and game wardens and peace officers.
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