MT SB56

Extends the supplemental employer contribution for the Public Employees' Retirement System (PERS) from fiscal year 2024 to fiscal year 2035, increasing the rate from 2.27% to 3.27% of employee compensation after June 30, 2035

Adds new supplemental employer contributions for three retirement systems: Highway Patrol Officers' Retirement System, Sheriffs' Retirement System, and Game Wardens' and Peace Officers' Retirement System

New supplemental contributions for the three law enforcement retirement systems start at 0.1% in fiscal year 2026 and increase by 0.1% annually, reaching 1% of compensation after June 30, 2035

Supplemental contributions terminate automatically on July 1 following an actuarial valuation showing the amortization period would not exceed 25 years without them

Effective date is July 1, 2025