Labor & Employment (Retirement Benefits)

This bill changes the amortization period for Montana's statewide defined benefit public employee retirement systems from 30 years to 25 years. It directly affects retirement plans for public employees including judges, highway patrol officers, sheriffs, game wardens, peace officers, municipal police, firefighters, volunteer firefighters, and teachers. The key provision requires that any additional benefits added to these systems must be fully funded within the new 25-year amortization period and be projected to be fully funded in perpetuity. The changes apply to multiple specific retirement systems across different sections of the Montana Code Annotated and take effect on July 1, 2025.