Benefits April 11, 2012
Mont. Governor Proposes Pension Contribution Increase
April 11, 2012 (PLANSPONSOR.com) – Montana Governor Brian Schweitzer proposed a public pension fix that would increase public employees' retirement contributions by an additional 1%.
Reported by Tara Cantore
The governor’s plan would also direct revenue from natural resource development into the pensions, and require local governments to pay more for employees as well, according to The Great Falls Tribune.
Schweitzer said he expects local governments and school districts to pay their share out of current revenues and without raising taxes.
Many Montana Republicans want to take away the state pension plan for new government employees, and replace it with a plan similar to a 401(k), the newspaper reports.