reglab/housing_qa huggingface dataset:
MT Code § 19-20-608 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 6. Funds -- Contributions|19-20-608. Member supplemental contribution -- actuarially determined adjustments -- effective dates

  19-20-608. Member supplemental contribution -- actuarially determined adjustments -- effective dates. (1) (a) Subject to subsections (1)(b) and (1)(c), a tier one member shall contribute to the retirement system a supplemental amount equal to 1% of the member's earned compensation.   (b) The board may decrease the tier one member supplemental contribution if:   (i) the average funded ratio of the system based on the last three actuarial valuations is equal to or greater than 90%; and   (ii) the period necessary to amortize all liabilities of the system based on the most recent annual actuarial valuation is less than 15 years.   (c) Following one or more decreases in the supplemental contribution rate pursuant to subsection (1)(b), the board may increase the supplemental contribution to a rate not to exceed 1% if:   (i) the average funded ratio of the system based on the last three annual actuarial valuations is equal to or less than 80%; and   (ii) the period necessary to amortize all liabilities of the system based on the most recent annual actuarial valuation is greater than 20 years.   (2) (a) Subject to subsection (2)(b), on or after January 1, 2023, the board may require a tier two member to contribute to the retirement system a supplemental amount if:   (i) the average funded ratio of the system based on the last three annual actuarial valuations is equal to or less than 80%;   (ii) the period necessary to amortize all liabilities of the system based on the latest annual actuarial valuation is greater than 20 years; and   (iii) a state or employer contribution rate increase or a flat dollar contribution to the retirement system trust fund has been enacted that is equivalent to or greater than the supplemental contribution rate imposed by the board pursuant to this subsection (2)(a).   (b) A tier two member supplemental contribution increase under this subsection (2) may not:   (i) exceed 0.5% of earned compensation; and   (ii) result in an aggregate tier two member contribution rate of more than 9.15% when added to the normal contribution rate required under 19-20-602.   (c) Following imposition of a supplemental contribution rate increase under this subsection (2), the board may decrease the supplemental contribution rate if:   (i) the average funded ratio of the system based on the previous three annual actuarial valuations is equal to or greater than 90%; and   (ii) the period necessary to amortize all liabilities of the system based on the latest annual actuarial valuation is less than 15 years.   (3) After the board has actuarially determined the need to impose, increase, or decrease a supplemental contribution rate under this section, the imposition, increase, or decrease is effective on the first day of July following the board's determination.   History: En. Sec. 6, Ch. 389, L. 2013.
MT Code § 19-20-609 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 6. Funds -- Contributions|19-20-609. Employer's supplemental contribution -- actuarially determined adjustments

  19-20-609. Employer's supplemental contribution -- actuarially determined adjustments. (1) (a) Subject to subsections (1)(b) through (1)(d), each employer shall contribute to the retirement system a supplemental amount equal to the percentage specified in subsection (1)(b) of total earned compensation of each member employed during the whole or part of the preceding payroll period.   (b) The percentage of compensation to be contributed under subsection (1)(a) is 1% for fiscal year 2014 and increases by 0.1% each fiscal year through fiscal year 2024. For fiscal years beginning after June 30, 2024, the percentage of compensation to be contributed under subsection (1)(a) is 2%.   (c) The board may decrease the employer's supplemental contribution if:   (i) the average funded ratio of the system based on the last three actuarial valuations is equal to or greater than 90%;   (ii) the period necessary to amortize all liabilities of the system based on the most recent annual actuarial valuation is less than 15 years; and   (iii) the guaranteed annual benefit adjustment has been increased to the maximum allowed under 19-20-719.   (d) Following one or more decreases in the supplemental contribution rate pursuant to subsection (1)(c), the board may increase the supplemental contribution to a rate not to exceed 1% if:   (i) the average funded ratio of the system based on the last three annual actuarial valuations is equal to or less than 80%; and   (ii) the period necessary to amortize all liabilities of the system based on the most recent annual actuarial valuation is greater than 20 years.   (2) After the board has actuarially determined the need to impose, increase, or decrease a supplemental contribution rate under this section, the imposition, increase, or decrease is effective on the first day of July following the board's determination.   History: En. Sec. 8, Ch. 389, L. 2013.
MT Code § 19-20-610 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 6. Funds -- Contributions|19-20-610. through 19-20-620 reserved

  19-20-610 through 19-20-620 reserved.
MT Code § 19-20-621 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 6. Funds -- Contributions|19-20-621. Montana university system retirement program supplemental contributions

  19-20-621. Montana university system retirement program supplemental contributions. (1) Each employer within the university system with employees participating in the university system retirement program under Title 19, chapter 21, shall contribute to the teachers' retirement system a supplemental employer contribution sufficient to amortize, by July 1, 2033, the past service liability of the teachers' retirement system for the university system members.   (2) The university system retirement program supplemental employer contribution as a percentage of the total compensation of all employees participating in the program is:   (a) 4.04% beginning July 1, 2001, through June 30, 2007; and   (b) 4.72% beginning July 1, 2007.   (3) The board shall periodically review the supplemental employer contribution rate and recommend adjustments to the legislature as needed to maintain the amortization of the university system's past service liability by July 1, 2033.   History: En. Sec. 1, Ch. 419, L. 1997; amd. Sec. 7, Ch. 305, L. 2007; amd. Sec. 10, Ch. 282, L. 2013.
MT Code § 19-20-622 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 6. Funds -- Contributions|19-20-622. Renumbered 19-20-720

  19-20-622. Renumbered 19-20-720. Sec. 83, Ch. 7, L. 2001.
MT Code § 19-20-701 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-701. Benefits

  19-20-701. Benefits. (1) The retirement, disability, and other benefits of the retirement system must be granted on the basis of the provisions of this chapter. A member's written application for benefits must include a statement certifying that there has been a bona fide separation from service, including whether there are any intentions to be reemployed with the same employer that would be prohibited under the Internal Revenue Code.   (2) If a member applies for a retirement benefit but dies before receiving the first monthly benefit allowance, benefits must be paid to the joint annuitant or beneficiary designated on the member's written application for a retirement allowance in the manner provided in 19-20-1001. If the member's written application did not include a designation of a joint annuitant or beneficiary, benefits must be paid to the beneficiary of record in the manner provided in 19-20-1001.   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(1); Sec. 19-4-701, MCA 1991; redes. 19-20-701 by Code Commissioner, 1993; amd. Sec. 8, Ch. 282, L. 2009; amd. Sec. 7, Ch. 59, L. 2011.
MT Code § 19-20-703 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-703. Payments to be monthly

  19-20-703. Payments to be monthly. (1) All retirement allowances must be paid in equal monthly installments.  (2) Except as provided in subsection (5), the retirement allowance may commence:   (a) no earlier than the first day of the month following the member's termination date or on the first day of the month following the date when the member first becomes eligible, whichever date is later; or   (b) if requested by the inactive member in writing:   (i) on the first day of a later month; or   (ii) on the first day of the month following the member's 60th birthday.   (3) Distribution of an inactive member's benefit must begin by the later of the April 1 following the calendar year in which a member attains the age of 70 1/2 if the member was born before July 1, 1949, or the age of 72 if the member was born on or after July 1, 1949, or April 1 of the year following the calendar year in which the member terminates. If a member fails to apply for retirement benefits by the later of either of those dates, the board shall begin distribution of the monthly benefit as provided in 19-20-702(3)(a)(i).   (4) The life expectancy of a member or the member's joint annuitant may not be recalculated after benefits commence.   (5) If a member terminates within 30 days of the last day of the school year, the member is considered to have terminated at the end of the member's contract, and the retirement allowance may not commence earlier than the first day of the month following the last scheduled pupil-instruction day or pupil-instruction-related day as described in 20-1-304, whichever is later.   History: En. 75-6201 by Sec. 96, Ch. 5, L. 1971; amd. Sec. 21, Ch. 326, L. 1974; amd. Sec. 1, Ch. 26, L. 1975; amd. Sec. 1, Ch. 127, L. 1977; amd. Sec. 1, Ch. 331, L. 1977; R.C.M. 1947, 75-6201(part); Sec. 19-4-703, MCA 1991; redes. 19-20-703 by Code Commissioner, 1993; amd. Sec. 16, Ch. 442, L. 1997; amd. Sec. 16, Ch. 111, L. 1999; amd. Sec. 10, Ch. 282, L. 2009; amd. Sec. 4, Ch. 298, L. 2009; amd. Sec. 9, Ch. 59, L. 2011; amd. Sec. 4, Ch. 173, L. 2021.
MT Code § 19-20-704 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-704. Repealed

  19-20-704. Repealed. Sec. 26, Ch. 111, L. 1999.   History: En. 75-6201 by Sec. 96, Ch. 5, L. 1971; amd. Sec. 21, Ch. 326, L. 1974; amd. Sec. 1, Ch. 26, L. 1975; amd. Sec. 1, Ch. 127, L. 1977; amd. Sec. 1, Ch. 331, L. 1977; R.C.M. 1947, 75-6201(part); Sec. 19-4-704, MCA 1991; redes. 19-20-704 by Code Commissioner, 1993.
MT Code § 19-20-705 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-705. Repealed

  19-20-705. Repealed. Sec. 30, Ch. 210, L. 2015.   History: En. 75-6217 by Sec. 112, Ch. 5, L. 1971; amd. Sec. 12, Ch. 127, L. 1977; R.C.M. 1947, 75-6217(2); Sec. 19-4-705, MCA 1991; redes. 19-20-705 by Code Commissioner, 1993; amd. Sec. 19, Ch. 45, L. 2001; amd. Sec. 7, Ch. 174, L. 2003; amd. Sec. 13, Ch. 90, L. 2007; amd. Sec. 10, Ch. 59, L. 2011.
MT Code § 19-20-706 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-706. Exemption from taxation and legal process

  19-20-706. (Temporary) Exemption from taxation and legal process. Except as provided in 19-20-305 and 19-20-306, the retirement allowances or any other benefits accrued or accruing to any person under the provisions of the retirement system and the accumulated contributions and cash and securities in the various funds of the retirement system are:  (1) exempted from any state, county, or municipal tax of the state of Montana except for:   (a) a retirement allowance received in excess of the amount determined pursuant to 15-30-2110(2)(c); or   (b) a refund paid under 19-20-603 of a member's contributions picked up by an employer after June 30, 1985, as provided in 19-20-602;   (2) not subject to execution, garnishment, attachment by trustee process or otherwise, in law or equity, or any other process; and   (3) unassignable except as specifically provided in this chapter.   19-20-706. (Effective January 1, 2024) Exemption from taxation and legal process. Except as provided in 19-20-305 and 19-20-306, the retirement allowances or any other benefits accrued or accruing to any person under the provisions of the retirement system and the accumulated contributions and cash and securities in the various funds of the retirement system are:  (1) exempted from any county or municipal tax except for a refund paid under 19-20-603 of a member's contributions picked up by an employer after June 30, 1985, as provided in 19-20-602;   (2) not subject to execution, garnishment, attachment by trustee process or otherwise, in law or equity, or any other process; and   (3) unassignable except as specifically provided in this chapter.   History: En. 75-6215 by Sec. 110, Ch. 5, L. 1971; R.C.M. 1947, 75-6215; amd. Sec. 8, Ch. 464, L. 1985; amd. Sec. 25, Ch. 83, L. 1989; amd. Sec. 7, Ch. 823, L. 1991; amd. Sec. 3, Ch. 259, L. 1993; Sec. 19-4-706, MCA 1991; redes. 19-20-706 by Code Commissioner, 1993; amd. Sec. 6, Ch. 111, L. 1995; amd. Sec. 17, Ch. 442, L. 1997; amd. Sec. 19, Ch. 552, L. 1997; amd. Sec. 6, Ch. 382, L. 2009; amd. Sec. 8, Ch. 276, L. 2019; amd. Sec. 46, Ch. 503, L. 2021.
MT Code § 19-20-707 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-707. Repealed

  19-20-707. Repealed. Sec. 26, Ch. 111, L. 1999.   History: (1)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; Sec. 75-6208, R.C.M. 1947; (2)En. 75-6207.1 by Sec. 2, Ch. 443, L. 1977; Sec. 75-6207.1, R.C.M. 1947; R.C.M. 1947, 75-6207.1, 75-6208(3)(c); amd. Sec. 9, Ch. 464, L. 1985; Sec. 19-4-707, MCA 1991; redes. 19-20-707 by Code Commissioner, 1993.
MT Code § 19-20-708 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-708. Repealed

  19-20-708. Repealed. Sec. 26, Ch. 111, L. 1999.   History: En. Sec. 1, Ch. 658, L. 1985; Sec. 19-4-708, MCA 1991; redes. 19-20-708 by Code Commissioner, 1993.
MT Code § 19-20-709 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-709. Repealed

  19-20-709. Repealed. Sec. 26, Ch. 111, L. 1999.   History: En. Sec. 2, Ch. 658, L. 1985; Sec. 19-4-709, MCA 1991; redes. 19-20-709 by Code Commissioner, 1993.
MT Code § 19-20-710 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-710. Maximum benefit limitation

  19-20-710. Maximum benefit limitation. A monthly benefit paid under the retirement system provided for in this chapter may not exceed the annual limits on benefits as specified in section 415 of the Internal Revenue Code as adjusted for cost-of-living increases for calendar years 1988 and succeeding years. However, benefits in excess of those limits may be paid from a qualified governmental excess benefit arrangement subject to 19-20-212.   History: En. Sec. 1, Ch. 14, L. 1987; Sec. 19-4-710, MCA 1991; redes. 19-20-710 by Code Commissioner, 1993; amd. Sec. 17, Ch. 111, L. 1999; amd. Sec. 8, Ch. 174, L. 2003.
MT Code § 19-20-711 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-711. Repealed

  19-20-711. Repealed. Sec. 6, Ch. 360, L. 1999.   History: En. Sec. 1, Ch. 115, L. 1989; Sec. 19-4-711, MCA 1991; redes. 19-20-711 by Code Commissioner, 1993; amd. Sec. 18, Ch. 442, L. 1997.
MT Code § 19-20-712 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-712. Repealed

  19-20-712. Repealed. Sec. 6, Ch. 360, L. 1999.   History: En. Sec. 2, Ch. 115, L. 1989; Sec. 19-4-712, MCA 1991; redes. 19-20-712 by Code Commissioner, 1993; amd. Sec. 19, Ch. 442, L. 1997.
MT Code § 19-20-713 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-713. Repealed

  19-20-713. Repealed. Sec. 6, Ch. 360, L. 1999.   History: En. Sec. 3, Ch. 115, L. 1989; Sec. 19-4-713, MCA 1991; redes. 19-20-713 by Code Commissioner, 1993; amd. Sec. 20, Ch. 442, L. 1997.
MT Code § 19-20-714 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-714. Repealed

  19-20-714. Repealed. Sec. 6, Ch. 360, L. 1999.   History: En. Sec. 1, Ch. 530, L. 1993.
MT Code § 19-20-715 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-715. Earned compensation -- limitations

  19-20-715. Earned compensation -- limitations. (1) Compensation in excess of the limitations set forth in section 401(a)(17) of the Internal Revenue Code as adjusted for cost-of-living increases must be disregarded for individuals who are not eligible employees. The limitation on compensation for eligible employees may not be less than the amount that was allowed to be taken into account under this chapter on July 1, 1993. For purposes of this section, an eligible employee is an individual who was a member in the retirement system prior to July 1, 1996. Any changes in the maximum limits under section 401(a)(17) of the Internal Revenue Code must be applied prospectively.   (2) (a) The earned compensation reported in each year that is used to make up the average final compensation may not be greater than 110% of the previous year's reported earned compensation, not including increases that result from movement on the employer's adopted salary matrix.   (b) Earned compensation in excess of the amount specified in subsection (2)(a) is considered termination pay and must be included in the calculation of average final compensation as provided in 19-20-716(1)(b).   History: En. Sec. 8, Ch. 111, L. 1995; amd. Sec. 21, Ch. 442, L. 1997; amd. Sec. 9, Ch. 174, L. 2003; amd. Sec. 11, Ch. 59, L. 2011; amd. Sec. 9, Ch. 151, L. 2011; amd. Sec. 23, Ch. 210, L. 2015.
MT Code § 19-20-717 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-717. Repealed

  19-20-717. Repealed. Sec. 22, Ch. 276, L. 2019.   History: En. Sec. 4, Ch. 442, L. 1997; amd. Sec. 15, Ch. 90, L. 2007; amd. Sec. 12, Ch. 59, L. 2011.
MT Code § 19-20-719 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-719. Guaranteed annual benefit adjustment -- rulemaking

  19-20-719. Guaranteed annual benefit adjustment -- rulemaking. (1) On January 1 of each year, the retirement allowance payable to each tier one member or benefit recipient of a tier one member who is eligible under subsection (3) must be increased by the amount provided in either subsection (1)(a) or (1)(b) as follows:   (a) if the most recent actuarial valuation of the retirement system shows that retirement system liabilities are less than 90% funded, 0.5%; or   (b) if the most recent actuarial valuation of the retirement system shows that retirement system liabilities are at least 90% funded and the provision of the increase is not projected to cause the system's liabilities to be less than 85% funded, an amount greater than 0.5% but no more than 1.5%, as set by the retirement board.   (2) On January 1 of each year, the retirement allowance payable to each tier two member or benefit recipient of a tier two member who is eligible under subsection (3) must, if the most recent actuarial valuation of the retirement system shows that retirement system liabilities are at least 90% funded and the provision of the increase is not projected to cause the system's liabilities to be less than 85% funded, be increased by an amount equal to or greater than 0.5% but no more than 1.5%, as set by the retirement board.   (3) A benefit recipient is eligible for and must receive the annual benefit adjustment provided for in this section if at least 36 monthly retirement benefit payments have been made prior to January 1 of the year in which the adjustment is to be made.   History: En. Sec. 1, Ch. 360, L. 1999; amd. Sec. 20, Ch. 149, L. 2001; amd. Sec. 11, Ch. 174, L. 2003; amd. Sec. 9, Ch. 285, L. 2007; amd. Sec. 9, Ch. 305, L. 2007; amd. Sec. 11, Ch. 389, L. 2013.
MT Code § 19-20-720 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-720. Repealed

  19-20-720. Repealed. Sec. 21, Ch. 59, L. 2011.   History: En. Sec. 5, Ch. 360, L. 1999; amd. Sec. 19, Ch. 149, L. 2001; Sec. 19-20-622, MCA 1999; redes. 19-20-720 by Sec. 83, Ch. 7, L. 2001.
MT Code § 19-20-721 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-721. Repealed

  19-20-721. Repealed. Sec. 22, Ch. 276, L. 2019.   History: En. Sec. 21, Ch. 45, L. 2001; amd. Sec. 13, Ch. 59, L. 2011.
MT Code § 19-20-722 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-722. Eligible rollover distributions

  19-20-722. Eligible rollover distributions. As required by section 401(a)(31) of the Internal Revenue Code, the retirement system shall advise an eligible recipient of any payment from the retirement system that constitutes an eligible rollover distribution of the recipient's rights to roll over the distribution and shall allow the recipient to elect a direct rollover of the eligible distribution to an eligible plan. The recipient is responsible for correctly designating a receiving plan that is eligible and willing to receive a direct rollover distribution of tax-deferred or after-tax contributions or both from the retirement system and to ensure timely submission of required supporting documentation from the receiving plan. The retirement system will determine, in its sole discretion, whether to make a direct rollover distribution to a receiving plan through an electronic transfer or by paper warrant.   History: En. Sec. 9, Ch. 276, L. 2019.
MT Code § 19-20-723 (2021)
2021 Montana Code Annotated|Title 19. Public Retirement Systems|Chapter 20. Teachers' Retirement|Part 7. Benefits in General|19-20-723. through 19-20-730 reserved

  19-20-723 through 19-20-730 reserved.