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

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NOTICE OF AMENDMENT

 

TO: All Concerned Persons

 

1. On October 17, 2013, the Public Employees' Retirement Board published MAR Notice No. 2-43-493 pertaining to the proposed amendment of the above-stated rule at page 1732 of the 2013 Montana Administrative Register, Issue Number 19.

 

2. The Public Employees' Retirement Board has amended the above-stated rule as proposed.

 

3. The Public Employees' Retirement Board has thoroughly considered the comments and testimony received. A summary of the comments received and the board's responses are as follows:

 

COMMENT 1:  A representative of the Legislative Services Division commented that the rule notice should better explain the subject matter of the material being adopted by reference and provide information on where to find the referenced material. She also noted that the web address provided a link to the mt.gov web site and not to MPERA.

 

RESPONSE 1: The subject matter of the Deferred Compensation Plan Document is broad, including everything from definitions and provisions governing the member's election to defer compensation to employer participation, limits on deferrals, valuation and reporting of accounts, investment options, rollovers and administration of the plan. Thus MPERA believes providing a summary of these topics would necessitate omissions and be potentially misleading.

 

The web address where the referenced material may be found has been repaired.

 

/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 November 18, 2013.