A subcommittee of the Legislative Finance Committee will discuss public pension funding risks during a Zoom video conference May 4. Members of the State Administration and Veterans’ Affairs Interim Committee (SAVA), which has statutory oversight of the pension plans, have been invited to participate. The Pension and Local Government Subcommittee meeting is scheduled to begin at 9 a.m. with the pension portion beginning at about 11 a.m.
The 11 a.m. agenda item is an informational briefing from Sam Schaefer about HB 553 (2019). The bill was carried by Sen. Moore to generally revise infrastructure funding laws and includes a subsection on state debt that relates to general obligation bonds and unfunded pension liabilities.
Following Mr. Schaefer's briefing, the subcommittee will discuss the pension funding risk analysis studies recently completed for the two largest public employee pension plans, the Teachers’ Retirement System (TRS) and the Public Employees’ Retirement System (PERS). The subcommittee and SAVA members will be developing questions for the TRS and PERS actuaries to address at a future meeting of the full committee.
The Zoom meeting is open to the public and will be streamed live on www.leg.mt.gov as well as broadcast on the Montana Public Affairs Network (MPAN). An archived recording of the meeting will also be available at www.leg.mt.gov.
Members of the public who wish to provide live public comment may email Marci.Lewandowski@mt.gov before the day of the meeting to receive details about how to join and comment. Written public comment may also be provided by email.
For more information, visit the LFC meeting page. Scroll down to find the pension and local government subcommittee tab where the agenda and the two pension risk analysis reports are posted.