Table of Contents TITLE 19. PUBLIC RETIREMENT SYSTEMS CHAPTER 20. TEACHERS' RETIREMENT Part 8. Superannuation Retirement
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1 19-20-801 1 19-20-802 19-20-804 19-20-805 19-20-810

Mont. Code Ann. § 19-20-804

(2015)

Allowance for service retirement – professional retirement option allowance – creditable service limitation

(1) Upon termination, a tier one or tier two member who qualifies for benefits pursuant to 19-20-801(1) or (2) must receive a retirement allowance equal to one-sixtieth of the member's average final compensation, as limited by 19-20-715, multiplied by the sum of the number of years of creditable service.

(2) (a) Upon termination, a tier two member who qualifies for benefits pursuant to 19-20-801(3) must receive a professional retirement option allowance equal to 1.85% of the member's final average compensation, as limited by 19-20-715, multiplied by the sum of the member's years of creditable service.

(b) For the purpose of calculating the professional retirement option, creditable service does not include:

(i) service credited before the member became a tier two member even if the member redeposits the member's withdrawn contributions pursuant to 19-20-427; or

(ii) service credit transferred under 19-20-409.

Official Annotations archive.org, 2015 edition
History:
En. 75-6208 by Sec. 103, Ch. 5, L. 1971
Amd. Sec. 2, Ch. 57, L. 1971
Amd. Sec. 2, Ch. 422, L. 1971
Amd. Sec. 4, Ch. 507, L. 1973
Amd. Sec. 3, Ch. 26, L. 1975
Amd. Sec. 5, Ch. 127, L. 1977
Amd. Sec. 5, Ch. 331, L. 1977
Amd. Sec. 1, Ch. 443, L. 1977
R.C.M. 1947, 75-6208(2)(d), (3)(a), (3)(b)
Amd. Sec. 6, Ch. 549, L. 1981
Amd. Sec. 1, Ch. 443, L. 1983
Amd. Sec. 8, Ch. 113, L. 1989
Sec. 19-4-804, MCA 1991
Redes. 19-20-804 by Code Commissioner, 1993
Amd. Sec. 23, Ch. 442, L. 1997
Amd. Sec. 22, Ch. 111, L. 1999 (HB 118 - Mood, Douglas (R) HD 58)
Amd. Sec. 22, Ch. 45, L. 2001 (HB 97 - Lewis, Dave (R) HD 55)
Amd. Sec. 2, Ch. 120, L. 2003 (HB 178 - Fritz, Nancy (D) HD 69)
Amd. Sec. 4, Ch. 402, L. 2003 (SB 110 - Toole, Ken (D) SD 27)
Amd. Sec. 13, Ch. 320, L. 2005 (HB 104 - Lenhart, Ralph (D) HD 38)
Amd. Sec. 13, Ch. 282, L. 2009 (HB 59 - Hamilton, Robin (D) HD 92)
Amd. Sec. 15, Ch. 389, L. 2013 (HB 377 - Woods, Tom (D) HD 64)
Source text on leg.mt.gov