Montana Statutes
§ 19-20-621 — Montana University System Retirement Program Supplemental Contributions
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 20 TEACHERS' RETIREMENT·Part 6 Funds -- Contributions
19-20-621 . Montana university system retirement program supplemental contributions.
(1)Each employer within the university system with employees participating in the university system retirement program under Title 19, chapter 21, shall contribute to the teachers' retirement system a supplemental employer contribution sufficient to amortize, by July 1, 2033, the past service liability of the teachers' retirement system for the university system members.
(2)The university system retirement program supplemental employer contribution as a percentage of the total compensation of all employees participating in the program is:
(a)4.04% beginning July 1, 2001, through June 30, 2007; and
(b)4.72% beginning July 1, 2007.
(3)The board shall periodically review the supplemental employer contrib
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Legislative History
En. Sec. 1, Ch. 419, L. 1997; amd. Sec. 7, Ch. 305, L. 2007; amd. Sec. 10, Ch. 282, L. 2013.
Nearby Sections
15
§ 19-20-1002
Payments On Death Of Retiree§ 19-20-1003
Payment Of Death Benefits§ 19-20-1004
Compliance With Federal Act§ 19-20-1005
Alternate Beneficiaries§ 19-20-1008
Changes To Beneficiary Designations -- Limitations On Changing Spouse Beneficiary Interest§ 19-20-101
Definitions§ 19-20-1010
Through 19-20-1012 Reserved§ 19-20-1013
Supremacy Of Retirement System Provisions§ 19-20-102
Retirement System -- Policy§ 19-20-103
Implied Consent Of Employee§ 19-20-104
Guarantee By State