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! ACTION NEEDED ! - HB 454 - Upcoming Pension Bill Vote - Contact Representatives Now


Posted Date: 
April 19, 2013
Contact: 
Sheryl Wood, Associate Director, Montana Association of Counties

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We are almost to the end, but need your help now!!!!  This could be the most important contact you make this session!

HB 454 passed 3rd reading in the Senate yesterday, on a vote of 30-19.

It now needs to get through the House.  It is not on the schedule yet, but it could be up as soon as this afternoon!

PLEASE CONTACT YOUR HOUSE REPRESENTATIVES ASAP AND ASK THEM TO SUPPORT HB 454!

Per the email sent earlier in the week, this bill will provide critical funding to bring the unfunded PERS system closer to actuarial soundness.

Currently, the systems are paying out $4m a month ($48m a year) more than they are collecting.  They are estimated to be bankrupt by 2032 if they are not fixed now.  Should that happen, it will become a "pay as you go" system, and employers would be required to pay their obligations for the benefits, which could be financially devastating!

A reminder of the important points:

  1. Employer increases:  As proposed, the employers contribution will increase by 1.1% as of July 1, 2013, and then increase .1% per year up to 2024, for a total increase of 2% over 10 years.

    * Let your Representatives know that counties support the increase to help be part of the solution; and

    * Let your Representatives know that counties have agreed to absorb the increases in existing revenues, and it is NOT A COST SHIFT TO LOCAL TAXPAYERS.
     

  2. It is critical that the Legislature work towards achieving actuarial soundness now due to the GASB requirements in 2015. 

    * GASB will require employers (counties) to post their portion of the unfunded liability on their financial statements, which COULD HAVE A SIGNIFICANT NEGATIVE AFFECT ON FUTURE BOND RATINGS!

The MACo membership and leadership have been discussing this issue and monitoring the legislative proposals for the past year.

Also, please contact your Senators and thank them for their support of HB 454 (vote list is below).

Thank you all for your support on this critical issue.

MONTANA SENATE
63rd Legislative Session
2013 Regular Session
VOTE TABULATION

YEAS

NAYS

 EXCUSED

 ABSENT

30

19

1

0

DATE: April 18, 2013

SEQ. NO: 1745

TIME: 02:04 PM

BILL NO: HB 454

Agenda--Third Reading

SPONSOR: McChesney, Bill

Do Concur

N  Arntzen, Elsie

N  Essmann, Jeff

N  Moore, Frederick (Eric)

N  Thomas, Fred

Y  Arthun, Ron

Y  Facey, Tom

Y  Murphy, Terry

Y  Tropila, Mitch

Y  Augare, Shannon

N  Fielder, Jennifer

Y  Olson, Alan

Y  Tutvedt, Bruce

N  Barrett, Debby

Y  Hamlett, Bradley

Y  Peterson, Jim

Y  Van Dyk, Kendall

Y  Barrett, Dick

N  Jackson, Verdell

Y  Phillips, Mike

N  Vincent, Chas

Y  Blewett, Anders

Y  Jent, Larry

N  Priest, Jason

Y  Vuckovich, Gene

N  Boulanger, Scott

Y  Jergeson, Greg

Y  Ripley, Rick

E  Walker, Edward

N  Brenden, John

Y  Jones, Llew

N  Rosendale, Matthew

Y  Wanzenried, David

Y  Brown, Taylor

Y  Kaufmann, Christine

N  Sales, Scott

N  Webb, Roger

N  Brown, Dee

Y  Keane, Jim

Y  Sesso, Jon

Y  Windy Boy, Jonathan

Y  Buttrey, Edward

Y  Larsen, Cliff

N  Sonju, Jon

N  Wittich, Art

Y  Caferro, Mary

N  Lewis, Dave

Y  Stewart-Peregoy, Sharon

 

Y  Driscoll, Robyn

Y  Malek, Sue

N  Taylor, Janna

 

 

Sheryl Wood | (406) 449-4360 | swood@mtcounties.org