Montana SB56 revises supplemental employer contributions to retirement systems, increasing rates and extending contribution periods.
Montana SB56 amends the state's retirement systems by adjusting employer contributions. It increases the contribution rates for the Public Employees' Retirement System, Highway Patrol Officers' Retirement System, Sheriffs' Retirement System, and Game Wardens' and Peace Officers' Retirement System. The bill sets a phased increase in contribution percentages, starting at 0.1% for fiscal year 2026 and rising to 1% by fiscal year 2036. The Public Employees' Retirement System's contribution rate will be actuarially determined annually, with a maximum annual increase of 0.5%.
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