MT HB700

Reduces the maximum amortization period for unfunded liabilities in Montana's statewide defined benefit public employee retirement systems from 30 years to 25 years

Applies to 10 retirement systems: Public Employees', Judges', Highway Patrol Officers', Sheriffs', Game Wardens' and Peace Officers', Municipal Police Officers', Firefighters' Unified, Volunteer Firefighters' Compensation Act, and Teachers' retirement systems

Prohibits adding new benefits to any of these systems unless the system can amortize within 25 years or less and the benefit is projected to be fully funded in perpetuity

Exceptions remain for judges', highway patrol officers', sheriffs', and game wardens'/peace officers' retirement systems, which have separate statutory provisions for their unfunded liability payment schedules

Effective date: July 1, 2025