Reinstating employer contributions for Montana's JRS, HPORS, SRS, GWPORS.
Montana HB85 reinstates former employer contribution rates for the Judges' Retirement System (JRS), Highway Patrol Officers' Retirement System (HPORS), Sheriffs' Retirement System (SRS), and Game Wardens' and Peace Officers' Retirement System (GWPORS). Beginning July 1, 2024, employers must pay actuarially determined contributions based on annual actuarial valuations. The bill also defines "contemporary unfunded liability" and "legacy unfunded liability," and specifies how these liabilities are to be amortized. The act applies retroactively to employer contributions on or after July 1, 2023.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.