Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Sponsor urges $65 million one-time payment to make Highway Patrol pension whole; retirement agency and troopers back plan
Summary
Representative Greg Kametz proposed a one-time $65 million appropriation to eliminate unfunded liabilities in the Highway Patrol Officers pension; the retirement director said the plan is about 78% funded with roughly $226 million in assets and $65.3 million in unfunded liabilities as of 06/30/2024, and stakeholders said the fund’s small size makes it vulnerable to market swings.
Representative Greg Kametz told the committee that Montana’s budget surplus presents an opportunity to pay down pension debt and proposed House Bill 370 to provide a one-time statutory appropriation of $65 million to the Highway Patrol Officers’ Pension Trust Fund.
William Hollahan, executive director of the Public Employees Retirement Administration, testified the Highway Patrol system’s…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
