Missoula County opposes HB 59, Revise funding provisions in PERS, up for hearing tomorrow at 9 a.m., in the House State Administration Committee.
The Montana Public Employees’ Retirement System (PERS) is a partnership between employers and employees, this bill breaks that partnership designed to fund the pension system.
HB59 would increase only the employer contribution and would do so to an unsustainable level. The increase to Missoula County taxpayers would be more than $600,000 per year or nearly a three mill increase in property taxes. As Montana counites are constrained in the amount of revenue they can raise, this additional contribution could result in decreased levels of service.
The funding shortfalls in Montana’s pension systems are complex. Missoula County would strongly encourage the legislature to consider a study bill where all parties to the retirement system, legislators, staff, local governments and participants, can collaboratively find solutions that will work for Montana.
Sent Jan. 14:
ReplyDeleteRepresentative Whitman,
Missoula County opposes HB 59, Revise funding provisions in PERS, up for hearing tomorrow at 9 a.m., in the House State Administration Committee.
The Montana Public Employees’ Retirement System (PERS) is a partnership between employers and employees, this bill breaks that partnership designed to fund the pension system.
HB59 would increase only the employer contribution and would do so to an unsustainable level. The increase to Missoula County taxpayers would be more than $600,000 per year or nearly a three mill increase in property taxes. As Montana counites are constrained in the amount of revenue they can raise, this additional contribution could result in decreased levels of service.
The funding shortfalls in Montana’s pension systems are complex. Missoula County would strongly encourage the legislature to consider a study bill where all parties to the retirement system, legislators, staff, local governments and participants, can collaboratively find solutions that will work for Montana.
Please oppose HB 59.