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Sponsor seeks $65 million one-time payment to fully fund Montana Highway Patrol pension
Summary
House Bill 370 would provide a $65 million one-time statutory appropriation to eliminate unfunded liabilities in the Highway Patrol Retirement System; retirement officials and trooper representatives supported the payment as a recruitment and retention tool.
Representative Greg Kametz told the House State Administration Committee that House Bill 370 would direct a one-time statutory appropriation of $65 million from the general fund to the Highway Patrol Officers' pension trust to pay off unfunded liabilities.
Kametz said Montana's budget surplus creates an opportunity to reduce retirement liabilities and that the Highway Patrol pension was identified by retirement officials as the most challenged fund. "If you would like to leave session knowing that you have…
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