Minimum monthly benefit allowance
(1) A retired member of the retirement system who on July 1, 2001, is receiving a service or disability retirement allowance that is less than $600 is eligible to receive a minimum monthly benefit allowance of $600 if the member at the time of retirement had 25 years or more of creditable service.
(2) A beneficiary or beneficiaries of a deceased retired member who on July 1, 2001, are receiving an optional service, disability, or survivorship allowance that when added together are less than $600 are eligible to receive a proportional share of a minimum monthly benefit allowance of $600 if the retired member at the time of retirement had 25 years or more of creditable service.
(3) If on July 1, 2001, multiple beneficiaries are receiving benefits under a retired member's account, the minimum monthly benefit must be divided in the same proportion as was the initial service, disability, or survivorship allowance.
(1) A retired member of the retirement system who on July 1, 2001, is receiving a service or disability retirement allowance that is less than $600 is eligible to receive a minimum monthly benefit allowance of $600 if the member at the time of retirement had 25 years or more of creditable service.
(2) A beneficiary or beneficiaries of a deceased retired member who on July 1, 2001, are receiving an optional service, disability, or survivorship allowance that when added together are less than $600 are eligible to receive a proportional share of a minimum monthly benefit allowance of $600 if the retired member at the time of retirement had 25 years or more of creditable service.
(3) If on July 1, 2001, multiple beneficiaries are receiving benefits under a retired member's account, the minimum monthly benefit must be divided in the same proportion as was the initial service, disability, or survivorship allowance.
Minimum monthly benefit allowance Repealed
Sec. 21, Ch. 59, L. 2011.
| EnactedEn. SectionSec. 5, ChapterCh. 360, Laws ofL. 1999 (HB 72 - Mercer, John (R) HD 74) |
| AmendedAmd. SectionSec. 19, ChapterCh. 149, Laws ofL. 2001 (HB 294 - Lewis, Dave (R) HD 55) |
| SectionSec. , Montana Code AnnotatedMCA 1999 |
| RedesignatedRedes. by SectionSec. 83, ChapterCh. 7, Laws ofL. 2001 (HB 25 - Sliter, Paul (R) HD 76) |