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Committee hears SB 56, a 10-year, incremental employer contribution increase to shore up public pensions
Summary
Senate Bill 56 would add 0.1 percentage point to employer retirement contributions each year for 10 years across four systems (PERS, Highway Patrol, Sheriffs, Game Wardens), aiming to reduce amortization periods and improve actuarial soundness; public-employer and law-enforcement groups supported the bill.
Senator Cupp opened a House State Administration hearing on Senate Bill 56, describing the measure as a modest, 10-year employer contribution increase intended to reduce unfunded liabilities in several public-employee retirement systems.
"This is a 1 tenth of a percent increase over 10 years of the employer's contribution," the sponsor said, summarizing the bill's core mechanism.
William Hollahan, executive director of the Montana Public Employee Retirement Administration, testified that the proposal would add…
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