BEFORE THE PUBLIC EMPLOYEES' RETIREMENT BOARD
OF THE STATE OF MONTANA
In the matter of the amendment of ARM 2.43.5101 pertaining to the adoption of deferred compensation plan document and trust agreement
NOTICE OF PROPOSED AMENDMENT
NO PUBLIC HEARING CONTEMPLATED
TO: All Concerned Persons
1. On November 27, 2013, the Public Employees' Retirement Board proposes to amend the above-stated rule.
2. The Public Employees' Retirement Board will make reasonable accommodations for persons with disabilities who wish to participate in this rulemaking process or need an alternative accessible format of this notice. If you require an accommodation, contact Montana Public Employee Retirement Administration no later than 5:00 p.m. on November 7, 2013, to advise us of the nature of the accommodation that you need. Please contact Kris Vladic, Montana Public Employee Retirement Administration, P.O. Box 200131, Helena, Montana, 59620-0131; telephone (406) 444-2578; fax (406) 444-5428; TDD (406) 444-1421; or e-mail firstname.lastname@example.org.
3. The rule as proposed to be amended provides as follows, new matter underlined, deleted matter interlined:
2.43.5101 ADOPTION OF DEFERRED COMPENSATION PLAN DOCUMENT AND TRUST AGREEMENT (1) remains the same.
(a) State of Montana Public Employee Deferred Compensation Plan Document (January 1, 2008 edition), that was approved by the board on August 14, 2008, and September 11, 2008, and amended February 11, 2010, and June 13, 2013; and
(b) and (2) remain the same.
AUTH: 19-50-102, MCA
IMP: 19-50-102, MCA
STATEMENT OF REASONABLE NECESSITY: The Public Employees' Retirement Board determined to adopt the original plan documents by reference. Changes to the documents are also required to be adopted by reference per 2-4-307(3), MCA.
Chapter 145 of the Montana Session Laws of 2013 added a Roth account option within the deferred compensation plan. The board subsequently amended the Deferred Compensation Plan Document to reflect this additional option. Therefore it is necessary to amend the rule that adopts the Deferred Compensation Plan Document by reference.
4. Concerned persons may submit their data, views, or arguments concerning the proposed action in writing to: Kris Vladic, Montana Public Employee Retirement Administration, P.O. Box 200131, Helena, Montana, 59620-0131; telephone (406) 444-2578; fax (406) 444-5428; or e-mail email@example.com, and must be received no later than 5:00 p.m., November 14, 2013.
5. If persons who are directly affected by the proposed action wish to express their data, views, or arguments orally or in writing at a public hearing, they must make written request for a hearing and submit this request along with any written comments to Kris Vladic at the above address no later than 5:00 p.m., November 14, 2013.
6. If the agency receives requests for a public hearing on the proposed action from either 10 percent or 25, whichever is less, of the persons directly affected by the proposed action; from the appropriate administrative rule review committee of the Legislature; from a governmental subdivision or agency; or from an association having not less than 25 members who will be directly affected, a hearing will be held at a later date. Notice of the hearing will be published in the Montana Administrative Register. Ten percent of those directly affected has been determined to be 821 persons based on 8,217 participants in the Deferred Compensation Plan as of July 2013.
7. The Public Employees' Retirement Board maintains a list of interested persons who wish to receive notices of rulemaking actions proposed by this agency. Persons who wish to have their name added to the list shall make a written request that includes the name, e-mail, and mailing address of the person to receive notices and specifies for which program the person wishes to receive notices. Notices will be sent by e-mail unless a mailing preference is noted in the request. Such written request may be mailed or delivered to the contact person in 4 above or may be made by completing a request form at any rules hearing held by the Public Employees' Retirement Board.
8. An electronic copy of this proposal notice is available through the Secretary of State's web site at http://sos.mt.gov/ARM/Register. The Secretary of State strives to make the electronic copy of this notice conform to the official version of the notice, as printed in the Montana Administrative Register, but advises all concerned persons that in the event of a discrepancy between the official printed text of the notice and the electronic version of the notice, only the official printed text will be considered. In addition, although the Secretary of State works to keep its web site accessible at all times, concerned persons should be aware that the web site may be unavailable during some periods, due to system maintenance or technical problems.
9. The bill sponsor contact requirements of 2-4-302, MCA, apply and have been fulfilled. The primary bill sponsor was contacted by mail on June 21, 2013.
10. With regard to the requirements of 2-4-111, MCA, the Public Employees' Retirement Board has determined that the amendment of the above-referenced rule will not significantly and directly impact small businesses.
/s/ Melanie A. Symons /s/ Scott E. Moore
Melanie A. Symons Scott E. Moore
Chief Legal Counsel President
and Rule Reviewer Public Employees' Retirement Board
Certified to the Secretary of State October 7, 2013.