Montana SB122 revises employer contribution rates for retirement systems and sets a minimum contribution rate.
Montana SB122 amends the employer contribution rates for the Highway Patrol Officers' Retirement System, the Sheriffs' Retirement System, and the Game Wardens' and Peace Officers' Retirement System. It sets specific contribution rates for fiscal years 2023-2024 and mandates an actuarially determined contribution rate starting July 1, 2024. The bill also defines "contemporary unfunded liability" and "legacy unfunded liability," establishing amortization schedules for these liabilities.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.