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SAVA Interim Committee August Update

Posted Date: 
August 1, 2012
Sheri Scurr, Committee Staff

State Administration Committee to Continue Pension Review

The State Administration and Veterans’ Affairs Interim Committee will meet Aug. 8-9 in Helena to wrap up much of its work before holding a final pension-related meeting in November.

At its August meeting, the committee will develop recommendations about whether to retain or eliminate certain advisory councils or reports as directed by House Bill 142, which was approved by the 2011 Legislature. The committee also will allow further comment on proposed legislation affecting political practices, wrap up its preview of agency bill draft proposals, and begin pre-session screening of retirement legislation.

The committee in June examined public pension plan challenges. Montana’s public employee pension systems, like all public retirement systems, were hard hit by what has been called the 2008 world market meltdown and the ensuing recession. Five of Montana’s eight public employee retirement plans are facing funding shortfalls that, taken together, will require about $120 million a year (not counting inflation factors) for the next 30 years to fully pay for past benefit obligations.

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Sheri Scurr | | 406-444-3596