Montana legislation · 2025 Regular Session
Montana HB700: Changing the amortization period for statewide DB retirement systems to 25 years
Status: Failed, May 20, 2025
What the bill says
A bill for an act entitled: "an act changing the amortization period for the statewide defined benefit public employee retirement systems from 30 years to years; amending sections 19-2-409, 19-3-109, 19-5-106, 19-6-107, 19-7-106, 19-8-106, 19-9-109, 1913-111, 19-17-117, and 19-20-111, mca; and providing an effective date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT CHANGING THE AMORTIZATION PERIOD FOR THE STATEWIDE DEFINED BENEFIT PUBLIC EMPLOYEE RETIREMENT SYSTEMS FROM 30 YEARS TO YEARS; AMENDING SECTIONS 19-2-409, 19-3-109, 19-5-106, 19-6-107, 19-7-106, 19-8-106, 19-9-109, 1913-111, 19-17-117, AND 19-20-111, MCA; AND PROVIDING AN EFFECTIVE DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 19-2-409, MCA, is amended to read: "19-2-409. Plans to be funded on actuarially sound basis -- definition. (1) As required by Article VIII, section 15, of the Montana constitution, each system must be funded on an actuarially sound basis. For the purposes of this section, "actuarially sound basis" means that contributions to each retirement plan must be sufficient to pay the full actuarial cost of the plan. (2) (a) For a defined benefit plan, the full actuarial cost includes both the normal cost of providing benefits as they accrue in the future and the cost of amortizing unfunded liabilities over a scheduled period of no more than 30 years 25 years, except that with respect to the judges' retirement system, the highway patrol officers' retirement system, the sheriffs' retirement system, and the game wardens' and peace officers' retirement system, the unfunded liabilities must be paid over the periods provided for in 19-5-404, 19-6-404, 197-404, and 19-8-504, respectively. (b) For the defined …
Sponsors
- Mercer, Bill (R, 52) · primary sponsor
Latest actions
- : (H) Died in Process
- : (H) Missed Deadline for General Bill Transmittal
- : (H) Fiscal Note Printed
- : (H) Fiscal Note Unsigned
- : (H) Tabled in Committee
- : (H) Fiscal Note Received
- : (H) Hearing
- : (H) 1st Reading
- : (H) Referred to Committee
- : (H) Fiscal Note Requested
Subjects: Retirement
Common questions
- What is HB700?
- HB700 is a bill in the Montana Legislature (2025 Regular Session): Changing the amortization period for statewide DB retirement systems to 25 years.
- What does HB700 do?
- In its own words: A bill for an act entitled: "an act changing the amortization period for the statewide defined benefit public employee retirement systems from 30 years to years; amending sections 19-2-409, 19-3-109, 19-5-106, 19-6-107, 19-7-106, 19-8-106, 19-9-109, 1913-111, 19-17-117, and 19-20-111, mca; and providing an effective date.".
- What is the status of HB700?
- Failed as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB700?
- Mercer, Bill (R, 52).
- Where is the official record for HB700?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC4305
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.