Retirement Plans
Employees who work at least 20 hours per week or a total of 960 hours per fiscal year are required to enroll in a state administered retirement plan on the first day of employment.
Contribution breakdown:
MT PERS:
Employee contributes 7.9% per paycheck. The County contributes 9.07% per paycheck.
Sheriff’s Retirement System:
Employee contributes 10.495% per paycheck. The County contributes 13.115% per paycheck.
Additional plan details are below:
All County employees are eligible for enrollment in the Montana Public Employees Retirement System (PERS).
Members contribute a percentage of their gross salary to the system each pay period. This is matched by a County contribution of the same percentage. Within the first year of employment, all participants must choose between a Defined Benefit (DB) Plan or a Defined Contribution (DC) Plan for investment of contributions.
If the Employee does not choose between a DB or DC plan within the first year of employment, the Employee’s retirement monies will automatically defer to Defined Benefit Plan. Employees are vested when they complete five years of employment. Information about the DB or DC retirement options is provided at enrollment from MPERA.
Law enforcement and detention officers qualify for the Montana Sheriff's Retirement System.
Members contribute a percentage of their gross salary to the system each pay period. This is matched by a County contribution of the same percentage. Within the first year of employment, all participants must choose between a Defined Benefit (DB) Plan or a Defined Contribution (DC) Plan for investment of contributions.
If the Employee does not choose between a DB or DC plan within the first year of employment, the Employee’s retirement monies will automatically defer to Defined Benefit Plan. Employees are vested when they complete five years of employment. Information about the DB or DC retirement options is provided at enrollment from MPERA.
457(b) Plan
County employees may choose to participate in a deferred compensation program through VALIC/Corebridge Financial or Nationwide. This plan is not available to outside agencies who use the county health insurance.
This optional program allows employees to defer PRE-tax or POST-tax dollars to a supplemental retirement plan with a variety of investment options. There is no County match for funds invested in this optional program.
Contact Jared Williams at Nationwide Mutual Insurance Company at 406-600-6702 for more information.