Montana State Lottery Financial Statements, Years Ended June 30, ... 1996

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PERS is a statewide mandators- cost-sharing multiple emplo>er defined benefit retirement plan which co\ers all employees.
The plan is established under State law and is administered by the State of Montana. Tlie plan provides retirement, disability, and death benefits to plan members and beneficiaries.
Tlie plan issues a publicly available financial report that includes financial statements and required supplementary infonnation. Tlie report ma>- be obtained from the following address: Public E
...mployees MONTANA STATE LOTTERY NOTES TO FINANCIAL STATEMENTS (continued) Retirement System, Public Employees Retirement Division, P.O. Bo\ 20013 L 1712 Ninth Avenue.
Helena. MT 59620-0131, (406) 444-3154.
Contribution rates for the plan are required and determined by State law. Contribution rates for the Lottery and it's employees were increased from 6.55% to 6.70% effective July 1, 1993. Tlie contribution rate for 1996. expressed as a percentage of covered pavroll. for both the emplover and employee was 6.7%.


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