_____________
bill NO. _____________
INTRODUCED
BY _________________________________________________
By Request of the State Administration and Veterans' Affairs Interim Committee
A BILL FOR AN ACT ENTITLED: "AN ACT ADDING a BENEFIT POLICY STATEMENT TO each PENSION SYSTEM preventing the addition of new benefits unless certain criteria are met."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
NEW SECTION. Section 1. Public employees' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the public employees' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 2. Judges' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the judges' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 3. Highway patrol officers' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the highway patrol officers' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 4. Sheriffs' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the sheriffs' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 5. Game wardens' and peace officers' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the game wardens' and peace officers' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 6. Municipal police officers' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the municipal police officers' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 7. Firefighters' unified retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the firefighters' unified retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 8. Volunteer Firefighters' Compensation Act benefit policy statement. It is the policy of the state that additional benefits may not be added to the Volunteer Firefighters' Compensation Act unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 9. Teachers' retirement system benefit policy statement. It is the policy of the state that additional benefits may not be added to the teachers' retirement system unless the system amortizes in 30 years or less and the additional benefit is projected to be fully funded in perpetuity.
NEW SECTION. Section 10. Codification instruction. (1) [Section 1] is intended to be codified as an integral part of Title 19, chapter 3, part 1, and the provisions of Title 19, chapter 3, part 1, apply to [section 1].
(2) [Section 2] is intended to be codified as an integral part of Title 19, chapter 5, part 1, and the provisions of Title 19, chapter 5, part 1, apply to [section 2].
(3) [Section 3] is intended to be codified as an integral part of Title 19, chapter 6, part 1, and the provisions of Title 19, chapter 6, part 1, apply to [section 3].
(4) [Section 4] is intended to be codified as an integral part of Title 19, chapter 7, part 1, and the provisions of Title 19, chapter 7, part 1, apply to [section 4].
(5) [Section 5] is intended to be codified as an integral part of Title 19, chapter 8, part 1, and the provisions of Title 19, chapter 8, part 1, apply to [section 5].
(6) [Section 6] is intended to be codified as an integral part of Title 19, chapter 9, part 1, and the provisions of Title 19, chapter 9, part 1, apply to [section 6].
(7) [Section 7] is intended to be codified as an integral part of Title 19, chapter 13, part 1, and the provisions of Title 19, chapter 13, part 1, apply to [section 7].
(8) [Section 8] is intended to be codified as an integral part of Title 19, chapter 17, part 1, and the provisions of Title 19, chapter 17, part 1, apply to [section 8].
(9) [Section 9] is intended to be codified as an integral part of Title 19, chapter 20, part 1, and the provisions of Title 19, chapter 20, part 1, apply to [section 9].