GABA Rates According to Retirement Dates
In Montana Public Employee Retirement Administration (MPERA) news, the lawsuit regarding retiree’s rights to the Guaranteed Annual Benefit Adjustment (GABA) has been settled. Judge Reynolds issued an order stating that retirees have a contract right to the GABA. GABA amounts will remain the same for members and retirees dependent on their hire date:
- 3% for members hired before July 1, 2007;
- 1.5% for members hired between July 1, 2007 and June 30, 2013; and
- 0 – 1.5% (on a sliding scale) for members hired on or after July 1, 2013.