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Retirement
Marks a New Era - Advocacy Montana Retired Educators’ Association 8/27/07 Montana Retired Educators’ Association is composed of voices from sixteen units in this vast state. Each unit elects their own president, president-elect, vice president, secretary and treasurer. The Executive Board is elected by members of the sixteen units to guide the direction of the organization. MREA is an affiliation of AARP in each of the states, the District of Columbia, Puerto Rico and the U. S.Virgin Islands. MREA is known as AARP’s Educator Community. Background: Retired Teachers’ Association was founded in 1947 by retired educator, Dr. Percy Andrus. National members share a commitment to learning, voluntary service and civic participation. NRTA members represent interests of 50+ educators at local, state and national levels. Members are dedicated to educational opportunity, advocacy and the economic security of all generations. During the 2009 legislative session, three bills were passed that apply to the Teachers Retirement System. House Bill 363 establishes the conditions for re-employment of TRS Retirees. A retired member must have retired with 30 years in the TRS and qualify under other conditions stated in the bill. House Bill 34 was introduced at the request of the TRS Board to help fund the TRS through additional contributions, reduce liabilities and limit practices that increase unfunded liabilities. House Bill 59 was a general revision bill making administrative changes to the TRS laws. Many of the amendments were necessary to comply with the Pension Protection Act (PPA) of 2006, and/or are required to comply with the Internal Revenue Service’s (IRS) regulations governing qualified pension plans. For more information on these bills the TRS website is www.trs.mt.gov. In addition to these three
bills is HB 659.
This bill directs The State Administration and
Veterans’ Affairs (SAVA) interim committee to
examine and recommend changes to the statewide
retirement systems, including a redesign of the
Teachers’ Retirement System. The reasons for the
study include that the Montana Constitution
requires the retirement systems be funded on an
actuarially sound basis. At the most recent
assessment the system does not amortize during a
benchmark 30-year period.
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