Mpera Directions 2007 Jan
Mpera Directions 2007 Jan
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This conflict could result in an interesting legislative session. Montana law requires the Board to constantly review retirement benefits and to recommend to the legislature changes necessary to maintain a stable stan- dard of living. The Board must also maintain the ac- tuarial (fiscal) soundness of the retirement systems.
In 2001 the Board and Legislature decided an increase in the guaranteed annual benefit adjustment (GAB A) would improve our retirees' standard of living. An increase from 1....5% to 3.0% addressed cost of living in- creases without hurting the actuarial soundness of the systems. Then came the stock mar- ket crisis of 2001-02. The systems are still recovering from a significant hit to their investments.
Current members will not be affected by proposed legislation to reduce the GABA.
This year the Board is proposing legislation to address the systems' financial status without impacting future members' retirement benefits — and for the Public Employees' Retirement System (PERS), the Sheriffs' Retirement System (SRS), and the Game Wardens' and Peace Officers' Retirement System (GWPORS), modest increases to employer contributions.
What to read after Mpera Directions 2007 Jan?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
This conflict could result in an interesting legislative session. Montana law requires the Board to constantly review retirement benefits and to recommend to the legislature changes necessary to maintain a stable stan- dard of living. The Board must also maintain the ac- tuarial (fiscal) soundness of the retirement systems.
In 2001 the Board and Legislature decided an increase in the guaranteed annual benefit adjustment (GAB A) would improve our retirees' standard of living. An increase from 1....5% to 3.0% addressed cost of living in- creases without hurting the actuarial soundness of the systems. Then came the stock mar- ket crisis of 2001-02. The systems are still recovering from a significant hit to their investments.
Current members will not be affected by proposed legislation to reduce the GABA.
This year the Board is proposing legislation to address the systems' financial status without impacting future members' retirement benefits — and for the Public Employees' Retirement System (PERS), the Sheriffs' Retirement System (SRS), and the Game Wardens' and Peace Officers' Retirement System (GWPORS), modest increases to employer contributions.
What to read after Mpera Directions 2007 Jan?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement Board to read onlineMoreLess
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