SENATE BILL NO. 297
INTRODUCED BY J. ELLIOTT
A BILL FOR AN ACT ENTITLED: "AN ACT REVISING THE MINIMUM MONTHLY BENEFIT PAID TO RETIRED MEMBERS OF THE MONTANA HIGHWAY PATROL OFFICERS' RETIREMENT SYSTEM OR THEIR BENEFICIARIES FROM ONE BASED UPON THE SALARY OF A PROBATIONARY PATROL OFFICER TO ONE BASED UPON THE RANK OF THE MEMBER AT THE TIME THAT THE MEMBER RETIRED; AMENDING SECTION 19-6-707, MCA; AND PROVIDING AN EFFECTIVE DATE AND AN APPLICABILITY DATE."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 19-6-707, MCA, is amended to read:
"19-6-707. Minimum monthly benefit. (1) Subject to the limitations contained in subsection (2), the following retired
members, or their survivors, who are not covered by 19-6-710 are eligible to receive a monthly benefit of not less than 2%
multiplied by the member's service credits multiplied by the current base compensation received by a probationary highway
patrol officer of the rank at which the member retired:
(a) a retired member who is 55 years of age or older, except as provided in subsection (3), or the member's survivor, who is receiving a service retirement benefit;
(b) a retired member, or the member's survivor, who is receiving a disability retirement benefit; and
(c) a recipient of a survivorship benefit.
(2) (a) The maximum monthly benefit paid under subsection (1) may not exceed 60% of the current base compensation
of a probationary highway patrol officer of the rank at which the member retired.
(b) The annual increase in a monthly benefit under subsection (1) may not exceed 5% of the current monthly benefit paid to a retired member or the member's survivor.
(3) A retired member otherwise qualified under subsection (1)(a) who is employed in a position covered by a retirement system under Title 19 is ineligible to receive the minimum monthly benefit provided for in this section until the member's service in the covered position is terminated."
NEW SECTION. Section 2. Effective date. [This act] is effective July 1, 2001.
NEW SECTION. Section 3. Applicability. [This act] applies to a member who retires before, on, or after July 1, 2001.
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Latest Version of SB 297 (SB0297.01)
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