Montana News

Dec 22, 2013 12:16 AM by Sanjay Talwani - MTN News

Montana retirement fix on hold

HELENA - District Judge James Reynolds on Friday temporarily blocked a reduction in the annual adjustment to the retirement benefits of many current and past public employees.

Reynolds granted a preliminary injunction against part of a law passed earlier this year would reduce the guaranteed annual benefit for many retirees from 3% to 1.5%.

A group of retirees sued to block the law, saying it unconstitutionally violates their contracts with the state.

Reynolds noted that the retirement system has major financial problems but said the law - if implemented - could substantially impair those contracts and should be blocked at least until he hears more evidence and makes a final decision.


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