Revising the actuarially determined employer contribution rate and setting a minimum contribution rate

SB 122 sets minimum annual contribution rates for Montana's Highway Patrol Officers', Sheriffs', and Game Wardens/Peace Officers' retirement systems. It requires state and county employers to pay at least 38.33% (Highway Patrol) or 13.115% (Sheriffs') of employee compensation annually, with rates adjustable by no more than ±0.5% yearly. The bill mandates that contributions cover three components: paying down past obligations (legacy liability), covering current unfunded costs (contemporary liability), and funding future benefits (normal cost). These changes apply directly to state and county employers participating in these specific retirement systems.