Judges' Retirement System (JRS)
Montana Codes Annotated Title 19, chapters 2 & 5
The JRS is a single-employer defined benefit plan established in 1967, and governed by Title 19, chapters 2 & 5 of the MCA. This system provides benefits for all Montana judges of the district courts, justices of the Supreme Court, and the Chief Water Judge. Benefits are established by state law and can only be amended by the Legislature. The JRS provides retirement, disability and death benefits to plan members and their beneficiaries. Benefits are based on eligibility, years of service and compensation. Member rights are vested after five years of service. A brief summary of eligibility and benefits follows:| JRS Summary of Benefits | |
|---|---|
| Current Salary (CS) Highest Average Compensation (HAC) |
|
| Years of Service required and/or Age eligible for benefit |
|
| Vesting | 5 years |
| Monthly Benefit Formula | 3 1/3% of CS or HAC per year of service for the first 15 years, plus 1.785% per year for each year after 15 years |
| Guaranteed Annual Benefit Adjustment (GABA) | Hired after July 1, 1997, or those electing GABA - after the member has completed 12 full months of retirement, the member's benefit increases by a maximum of 3% each January, inclusive of all other adjustments to the member's benefit |
| Minimum benefit adjustment (non-GABA) | Hired prior to July 1, 1997 - current salary is used in the calculation of the monthly benefit each time the Legislature increases salaries for active judges. This benefit is awarded only to non-GABA members or eligible contingent annuitants |
| JRS Contribution Rates | |||
|---|---|---|---|
| Member | Employer | ||
| 7.00% | 25.81% | ||
