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bill NO. _____________
INTRODUCED
BY _________________________________________________
By Request of the Public Employees' Retirement Board
A BILL FOR AN ACT ENTITLED: "AN ACT revising funding provisions for the highway patrol officers' retirement system; increasing employer contributions; AMENDING SECTION 19-6-404, MCA; and PROVIDING AN EFFECTIVE DATE."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 19-6-404, MCA, is amended to read:
"19-6-404. State employer contribution -- statutory appropriation. The state shall pay as employer contributions 38.33% 47.84% of compensation paid to all of the employer's employees, except those properly excluded from membership, from the following sources:
(1) an amount equal to 28.15% 37.66% of the total compensation of the members, which is payable, as appropriated by the legislature, from the same source that is used to pay compensation to the members; and
(2) an amount equal to 10.18% of the total compensation of the members, which is statutorily appropriated, as provided in 17-7-502, from the general fund to the pension trust fund."
NEW SECTION. Section 2. Effective date. [This act] is effective July 1, 2023.