20 chapters · 579 sections in this title.
Mont. Code Ann. § 19-5-902 Election -- Guaranteed Annual Benefit Adjustment
1.7K chars
(1) Subject to subsection (2), on January 1 of each year, the permanent monthly benefit payable during the preceding January to each recipient who is eligible under subsection (3) must be increased by 3%. (2) (a) If a recipient's benefit payable during the preceding January has b…
Mont. Code Ann. § 19-6-1001 Short Title
0.1K chars
This part may be cited as the "deferred retirement option plan" or "DROP".
Mont. Code Ann. § 19-6-1002 Definitions
0.7K chars
Unless the context requires otherwise, as used in this part, the following definitions apply: (1) "DROP" means the deferred retirement option plan established pursuant to this part. (2) "DROP account" means the member's accumulated monthly DROP accruals, plus interest. (3) "DROP …
Mont. Code Ann. § 19-6-1003 Deferred Retirement Option Plan Established -- Rulemaking
0.3K chars
(1) The board shall establish a DROP for eligible members of the retirement system who elect to participate. (2) The board shall administer the DROP in compliance with the Internal Revenue Code and the applicable rules, regulations, and determinations of the internal revenue serv…