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SAVA Interim Committee May Update

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

The State Administration and Veterans' Affairs Interim Committee met April 19 in Helena. Budget Director Dan Villa presented Gov. Brian Schweitzer's pension proposals for the Teachers' Retirement System and the Public Employees' Retirement System.

The TRS proposal would increase the employee contribution by 1 percent, use $25 million of state land revenue, and provide a one-time-only contribution of $14.7 million by reducing the amount school districts can keep in their retirement account reserves from 35 percent to 20 percent.

The PERS proposal would include a 1 percent contribution increase for employees and for employers, a state contribution of $18.1 million from coal severance tax collections, and an unspecified additional local government contribution.

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Sheri Scurr | | 406-444-3596