Providing that the default retirement plan for legislators is the defined contribution plan through PERS

This bill changes the default retirement plan for Montana legislators to the Public Employees' Retirement System (PERS) defined contribution plan, affecting those who are newly elected or appointed to the legislature. Under the new rules, legislators who are not currently members of a retirement system must join the PERS defined contribution plan, while those who are retired or inactive in other systems can choose to either return to their original system or join the PERS defined contribution plan depending on their election date. The legislation also allows active members of other public retirement systems to continue participating in their existing plans while serving as legislators, though they must file a written election within 90 days of taking office. The state will cover the employer contribution portion of the retirement plan based on current rates and legislative appropriations.