reglab/statecodes huggingface dataset:
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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. 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
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 the 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.
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; amd. Sec. 6, Ch. 245, L. 2023.
2023 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.
2023 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 1.5%.
(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 be increased by the amount provided in either subsection (2)(a) or (2)(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.
(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; amd. Sec. 7, Ch. 245, L. 2023.
2023 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.
2023 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.
2023 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.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 8. Superannuation Retirement › 19-20-801. Eligibility for service retirement

19-20-801. Eligibility for service retirement.
(1) A tier one member is eligible to receive a service retirement allowance calculated under 19-20-804(1) if the member:
(a) has been credited with at least 5 full years of creditable service and has attained the age of 60; or
(b) has been credited with full-time or part-time creditable service in 25 or more years.
(2) Except as provided in subsection (3), a tier two member is eligible to receive a service retirement allowance calculated under 19-20-804(1) if the member:
(a) has been credited with at least 5 full years of creditable service and has attained the age of 60; or
(b) has been credited with full-time or part-time creditable service in 30 or more years and has attained the age of 55.
(3) A tier two member who has been credited with 30 or more years of creditable service and has attained the age of 60 is eligible for a professional retirement option allowance calculated under 19-20-804(2).
(4) To receive a retirement allowance under 19-20-804, the member must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.
(5) A vested member who has attained normal retirement age has a nonforfeitable right to the benefits accrued and payable under the provisions of this chapter, subject to the member's right to a refund of the member's accumulated contributions under 19-20-603.
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)(a); amd. Sec. 3, Ch. 527, L. 1983; Sec. 19-4-801, MCA 1991; redes. 19-20-801 by Code Commissioner, 1993; amd. Sec. 22, Ch. 442, L. 1997; amd. Sec. 20, Ch. 111, L. 1999; amd. Sec. 13, Ch. 366, L. 2013; amd. Sec. 10, Ch. 276, L. 2019.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 8. Superannuation Retirement › 19-20-802. Early retirement

19-20-802. Early retirement.
(1) (a) A vested tier one member who is not eligible for service retirement but has attained the age of 50 is eligible for an early retirement allowance.
(b) A vested tier two member who is not eligible for service retirement but has attained the age of 55 is eligible for an early retirement allowance.
(2) A member retiring early under subsection (1) must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.
(3) The early retirement allowance must be determined as prescribed in 19-20-804, with the exception that the allowance will be reduced using actuarially equivalent factors based on the most recent actuarial valuation of the system.
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(3)(d); amd. Sec. 1, Ch. 396, L. 1981; amd. Sec. 7, Ch. 549, L. 1981; amd. Sec. 4, Ch. 527, L. 1983; Sec. 19-4-802, MCA 1991; redes. 19-20-802 by Code Commissioner, 1993; amd. Sec. 21, Ch. 111, L. 1999; amd. Sec. 12, Ch. 320, L. 2005; amd. Sec. 11, Ch. 151, L. 2011; amd. Sec. 14, Ch. 389, L. 2013; amd. Sec. 26, Ch. 210, L. 2015.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 8. Superannuation Retirement › 19-20-804. Allowance for service retirement -- professional retirement option allowance -- creditable service limitation

19-20-804. 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.
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; amd. Sec. 22, Ch. 45, L. 2001; amd. Sec. 2, Ch. 120, L. 2003; amd. Sec. 4, Ch. 402, L. 2003; amd. Sec. 13, Ch. 320, L. 2005; amd. Sec. 13, Ch. 282, L. 2009; amd. Sec. 15, Ch. 389, L. 2013.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 8. Superannuation Retirement › 19-20-806. Terminated

19-20-806. Terminated.
Sec. 6, Ch. 120, L. 2003.
History: En. Sec. 1, Ch. 120, L. 2003; amd. Sec. 15, Ch. 320, L. 2005.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 9. Disability Retirement › 19-20-901. Eligibility for disability retirement -- determination by board

19-20-901. Eligibility for disability retirement -- determination by board.
(1) Except as provided in subsection (5), upon the application of a member or of the member's employer for a disability retirement allowance, any member who has 5 or more years of creditable service and who has become disabled while being an active member may be retired by the retirement board the month immediately following the month in which employment is terminated.
(2) In order for a member to be eligible for disability retirement, the retirement board or its representative shall certify that the member is mentally or physically incapacitated for the further performance of the member's duties, that the incapacity is likely to be permanent, and that the member should be retired. The board's representative shall report to the board the representative's findings and any action taken by the representative, and the action must be presented to the board for approval by the board.
(3) In making a determination under subsection (2), the retirement board or its representative may:
(a) order examinations by a physician, psychologist, vocational rehabilitation counselor, or any other health care provider or other professional determined by the retirement board to be qualified, competent, and necessary to assist the board in making the disability determination;
(b) conduct hearings, administer oaths and affirmations, take depositions, and certify to official acts; and
(c) issue subpoenas to compel the attendance of witnesses and the production of books, papers, correspondence, memorandums, and other records considered necessary as evidence in connection with a claim for disability retirement. The subpoenas issued under this subsection (3)(c) are enforceable as provided in 2-4-104.
(4) The retirement board may secure and pay reasonable compensation for professional services and advice that the board determines necessary to carry out the purposes of this part.
(5) (a) A tier two member is not eligible for disability retirement if the member is or will be eligible for service retirement on or before the member's date of termination.
(b) A disability retirement application filed by a member who is ineligible for disability retirement under subsection (5)(a) will be processed as an application for a service retirement allowance.
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(4)(a); amd. Sec. 3, Ch. 8, L. 1991; amd. Sec. 2, Ch. 226, L. 1993; Sec. 19-4-901, MCA 1991; redes. 19-20-901 by Code Commissioner, 1993; amd. Sec. 23, Ch. 111, L. 1999; amd. Sec. 17, Ch. 389, L. 2013; amd. Sec. 9, Ch. 245, L. 2023.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 9. Disability Retirement › 19-20-902. Allowance for disability retirement

19-20-902. Allowance for disability retirement.
(1) Upon retirement for disability, a member must receive a disability retirement allowance equal to the greater of:
(a) one-sixtieth of the member's average final compensation multiplied by the sum of the number of years of creditable service, including service transferred under 19-20-409; or
(b) one-fourth of the member's average final compensation.
(2) The earned compensation in the year of termination that is included in the calculation of average final compensation of a member who is awarded a disability retirement allowance prior to the completion of a full year is the compensation, pay, or salary that the member would have received under the member's contract had the member completed the full year. Any termination pay received by the member is limited to the amount actually paid and is not the amount that the member would have earned had the member completed the full year.
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(5)(a) thru (5)(c); amd. Sec. 61, Ch. 370, L. 1987; amd. Sec. 9, Ch. 113, L. 1989; amd. Sec. 3, Ch. 226, L. 1993; Sec. 19-4-902, MCA 1991; redes. 19-20-902 by Code Commissioner, 1993; amd. Sec. 24, Ch. 442, L. 1997; amd. Sec. 24, Ch. 111, L. 1999.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 9. Disability Retirement › 19-20-903. Medical examination of disability retiree

19-20-903. Medical examination of disability retiree.
(1) Once each year during the first 5 years following the retirement of a member on a disability retirement allowance and once in every 3-year period afterward, the retirement board may require a disability benefit recipient who has not yet attained the age of 60 to undergo a medical examination by a physician, psychologist, or any other health care provider or other professional determined by the retirement board to be qualified, competent, and necessary to assist the board in making the disability determination. The examination must be made at the place of residence of the benefit recipient or other place mutually agreed on. Based on the examination, the board shall determine whether the disabled member is unable, by reason of physical or mental incapacity, to perform the essential elements of the position held by the member when the member retired. If the board determines that the member is not incapacitated, the member's retirement benefit must be canceled. If the member disagrees with the board's determination, the member may request the board to reconsider its action. The request for reconsideration must be made in writing within 60 days after the receipt of the notice of the status change.
(2) A member whose disability retirement benefit is canceled because the board has determined that the member is no longer incapacitated must be given preference by the member's former employer for the position held at the time of retirement or for a comparable position that becomes available within 1 year of cancellation of the disability retirement. The member may agree to accept an offer of employment by an employer. Employment in any capacity by an employer terminates any right granted by this section. The fact that the former employee was retired on disability may not prejudice any right to reinstatement to duty that the former employee may have or claim to have. This section does not affect any requirement for the former employee to meet or to be able to meet professional certification and licensing standards unrelated to the previous disability, otherwise necessary for reinstatement to duty.
(3) If a disability benefit recipient who has not yet attained the age of 60 refuses to submit to a medical examination as required in subsection (1), the recipient's allowance may be discontinued until withdrawal of the refusal. If a refusal continues for 1 year, all rights in and to a disability pension may be revoked by the retirement board.
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(4)(b); amd. Sec. 2, Ch. 24, L. 1987; Sec. 19-4-903, MCA 1991; redes. 19-20-903 by Code Commissioner, 1993; amd. Sec. 25, Ch. 442, L. 1997; amd. Sec. 10, Ch. 245, L. 2023.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 9. Disability Retirement › 19-20-904. Adjustment of allowance

19-20-904. Adjustment of allowance.
(1) (a) Except as provided by subsection (1)(b), if a retiree receiving a disability retirement allowance is engaged in or is able to engage in a gainful occupation paying more than the difference between the retiree's retirement allowance and the retiree's average final compensation or the difference between the median average final compensation of those members retired during the preceding fiscal year and the retiree's retirement allowance, whichever is greater, the retirement allowance must be reduced to an amount that, together with the amount earnable by the retiree, is equal to the retiree's average final compensation or the median average final compensation of those members retired during the preceding fiscal year, whichever is greater.
(b) If a disabled retiree is reemployed with the same employer within 30 days from the member's effective date of retirement or if the retired member is guaranteed reemployment with the same employer, the member must be considered to have continued in the status of an active member and not to have separated from service. Any retirement allowance payments received by the member must be repaid to the system, together with interest, at the actuarially assumed rate, and the retirement benefit must be terminated.
(2) If the disabled retiree's earning capacity is changed later, the retirement allowance may be further modified, but the new allowance may not exceed the retirement allowance originally granted or an amount that, when added to the amount earnable by the retiree, equals the retiree's average final compensation.
(3) The board may, in its discretion, require a recipient of a disability retirement allowance to annually submit an earning statement and any documentation necessary to support the earnings of the recipient.
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(4)(c); amd. Sec. 1, Ch. 197, L. 1983; amd. Sec. 3, Ch. 24, L. 1987; Sec. 19-4-904, MCA 1991; redes. 19-20-904 by Code Commissioner, 1993; amd. Sec. 7, Ch. 111, L. 1995; amd. Sec. 26, Ch. 442, L. 1997; amd. Sec. 27, Ch. 210, L. 2015.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 9. Disability Retirement › 19-20-905. Cancellation of allowance and restoration of membership

19-20-905. Cancellation of allowance and restoration of membership.
(1) If a disabled retiree is employed in a position reportable to the retirement system and earns compensation in any calendar year in excess of the limitation provided in 19-20-904, the retiree's retirement allowance must cease and the retiree must again become an active member of the retirement system effective on the first day of the month following the month in which the earnings limitation was exceeded.
(2) If the member is restored to active membership on or after the attainment of the age of 55 years, the member's retirement allowance upon subsequent retirement may not exceed the retirement allowance that the member would have received had the member remained in service during the period of the member's previous retirement or the sum of the retirement allowance that the member was receiving immediately prior to the member's last restoration to service and the retirement allowance that the member would have received on account of the member's service since the member's last restoration had the member entered service at that time as a new member.
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(4)(d); Sec. 19-4-905, MCA 1991; redes. 19-20-905 by Code Commissioner, 1993; amd. Sec. 27, Ch. 442, L. 1997; amd. Sec. 13, Ch. 174, L. 2003; amd. Sec. 14, Ch. 282, L. 2009; amd. Sec. 6, Ch. 39, L. 2017; amd. Sec. 5, Ch. 173, L. 2021.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1001. Payments upon death of member prior to retirement

19-20-1001. Payments upon death of member prior to retirement.
(1) If a member dies before retirement:
(a) except as provided in subsection (2), a lump-sum refund of the member's account balance must be paid to the member's eligible beneficiary or beneficiaries;
(b) if the deceased member was vested and was an active member in the retirement system within 1 year before the member's death, the eligible beneficiaries receiving a refund under subsection (1)(a) or a retirement allowance under subsection (2) are entitled to receive in equal shares a $500 lump-sum death benefit; and
(c) subject to 19-20-1009, the sum of $200 a month must be paid to each minor child of the deceased member until the child reaches 18 years of age.
(2) (a) In lieu of the refund provided for in subsection (1)(a), if the deceased member was vested, an eligible designated beneficiary who is an individual may elect to receive the beneficiary's interest as a retirement allowance for the beneficiary's lifetime. The retirement allowance must be determined as prescribed in 19-20-804, without reference to 19-20-805(5)(a), in the same manner as if the member elected the option A joint and survivor annuity optional allowance provided for in 19-20-702(2).
(b) The effective date of the retirement allowance provided for in subsection (2)(a) is the earlier of:
(i) the first of the month following the date of death; or
(ii) the effective date of the member's retirement, as acknowledged in writing by the retirement system before the member's death.
(c) (i) If more than one eligible beneficiary elects to receive a retirement allowance, each is entitled to an equal share of the benefit.
(ii) In the event that all eligible beneficiaries who elected a retirement allowance die, the member's account balance, if any, will be paid out to the alternate beneficiary of the last surviving eligible beneficiary who elected a retirement allowance under subsection (2)(a).
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(part); amd. Sec. 8, Ch. 549, L. 1981; amd. Sec. 4, Ch. 56, L. 1989; Sec. 19-4-1001, MCA 1991; redes. 19-20-1001 by Code Commissioner, 1993; amd. Sec. 28, Ch. 442, L. 1997; amd. Sec. 23, Ch. 45, L. 2001; amd. Sec. 16, Ch. 320, L. 2005; amd. Sec. 15, Ch. 282, L. 2009; amd. Sec. 17, Ch. 59, L. 2011; amd. Sec. 18, Ch. 389, L. 2013; amd. Sec. 28, Ch. 210, L. 2015; amd. Sec. 12, Ch. 276, L. 2019; amd. Sec. 11, Ch. 245, L. 2023.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1003. Payment of death benefits

19-20-1003. Payment of death benefits.
(1) Death benefits paid from the system are subject to the requirements of this section.
(2) Death benefits must be distributed in accordance with section 401(a)(9) of the Internal Revenue Code and the regulations adopted under that section.
(3) The amount of benefits payable to a retired member's beneficiary or joint annuitant may not exceed the maximum determined under the incidental death benefit requirements of the Internal Revenue Code.
(4) If the member dies before retirement benefits commence and a benefit is payable pursuant to 19-20-1001, distributions to the member's beneficiaries must begin as soon as administratively feasible and must begin no later than December 31 of the calendar year immediately following the calendar year in which the member died. If the beneficiary has not elected the form of payment by the date on which the beneficiary is to receive the benefit and the beneficiary is eligible for a monthly benefit, the benefit must be paid as provided in 19-20-702(3)(a)(i) or a lump sum must be paid if that is the only benefit due the beneficiary.
History: En. Sec. 25, Ch. 111, L. 1999; amd. Sec. 16, Ch. 282, L. 2009; amd. Sec. 19, Ch. 59, L. 2011.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1004. Compliance with federal act

19-20-1004. Compliance with federal act.
With respect to a member's death occurring on or after January 1, 2007, while a member is performing qualified military service covered under the Heroes Earnings Assistance and Relief Tax Act of 2008, Public Law 110-245, and to the extent required by section 401(a)(37) of the Internal Revenue Code, 26 U.S.C. 401(a)(37), the designated beneficiaries are entitled to benefits that the system would have provided if the member had resumed employment and then died and that are contingent on the member's death while employed.
History: En. Sec. 17, Ch. 282, L. 2009.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1005. Alternate beneficiaries

19-20-1005. Alternate beneficiaries.
(1) A decedent's alternate beneficiary is the decedent's estate if the estate is probated.
(2) (a) If the decedent's estate is not informally or formally probated, the alternate beneficiaries are the surviving individuals determined in the following order of priority, the decedent's:
(i) legal spouse;
(ii) natural and adopted children, in equal shares;
(iii) parents, in equal shares;
(iv) grandchildren, in equal shares;
(v) siblings, in equal shares; or
(vi) nieces and nephews, in equal shares.
(b) Payments to an alternate beneficiary under subsection (2)(a) may be made only after the retirement system receives an affidavit from the individual on a form prescribed by the retirement system attesting that to the best of the individual's knowledge:
(i) there is no living individual who is an eligible alternate beneficiary at a higher level of priority; and
(ii) the decedent's estate will not be formally or informally probated.
(3) If the retirement system is unable to identify and locate a surviving individual listed in subsection (2)(a), the alternate beneficiary is the individual named in the decedent's will as the personal representative or executor of the decedent's estate if:
(a) the total amount to be distributed is $5,000 or less;
(b) payment will be made by December 31 in the year of the death; and
(c) the personal representative or executor files an affidavit on a form prescribed by the retirement system attesting that:
(i) no application or petition for the appointment of another executor or personal representative of the decedent's estate is pending or has been granted in any jurisdiction;
(ii) the affiant is not aware of the existence and location of any individual who would be an eligible alternate beneficiary under subsection (1); and
(iii) the affiant will accept the distribution from the retirement system in the affiant's capacity as executor or personal representative under the decedent's will and will use the funds in conformity with the will and applicable law.
(4) A distribution under subsection (3) will be reported for tax purposes as a final distribution to the decedent.
(5) Payment under this section of benefits due shall constitute full discharge of the retirement system's duties and obligations resulting from the death.
History: En. Sec. 14, Ch. 276, L. 2019.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1007. Requirements for beneficiary designation to be effective

19-20-1007. Requirements for beneficiary designation to be effective.
(1) To be accepted as an effective beneficiary designation, the beneficiary designation record must:
(a) be made on a paper form or by an electronic process prescribed by the retirement system specifically for the designation of beneficiaries;
(b) if submitted electronically, include the certified digital signature of the member or, if submitted on a paper form, be signed by the member and notarized;
(c) specifically identify each eligible beneficiary intended to be designated as a beneficiary;
(d) include all required information and supporting documentation for each designated beneficiary;
(e) comply with all other stated requirements and limitations; and
(f) be submitted to the retirement system while the member is still alive.
(3) (a) The retirement system is not responsible for verifying beneficiary information provided by a designator.
(b) The retirement system may accept or decline a beneficiary designation record pending receipt of required supporting documentation. However, if the retirement system accepts a beneficiary designation record pending receipt of supporting documentation, the beneficiary designation is not effective unless the retirement system receives all required supporting documentation within the required timeframe.
(c) If multiple beneficiaries are designated on a beneficiary designation record and the retirement system accepts the beneficiary designation as effective but later determines that one or more of the beneficiaries was not effectively designated or is not an eligible beneficiary at the time payment is to be made, the beneficiary designation will remain in effect with the ineffectively designated or ineligible beneficiaries deemed to have predeceased the member.
History: En. Sec. 16, Ch. 276, L. 2019.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1008. Changes to beneficiary designations -- limitations on changing spouse beneficiary interest

19-20-1008. Changes to beneficiary designations -- limitations on changing spouse beneficiary interest.
(1) Once accepted by the retirement system, a beneficiary designation may be changed only by the member submitting to the retirement system a new effective beneficiary designation record. No other action, process, or provision of law may invalidate, revoke, terminate, or otherwise modify the beneficiary designation record. Divorce, annulment, or other circumstances resulting in the termination of a valid or invalid marriage does not void the member's designation of the former spouse or purported spouse as a beneficiary.
(2) (a) Except as provided in subsection (3), a member may change the member's beneficiary designation at any time by filing with the retirement system a new beneficiary designation record.
(b) The new beneficiary designation must meet all requirements specified in 19-20-1007 to be effective.
(c) A new effective beneficiary designation invalidates all prior beneficiary designations.
(3) (a) A member may not reduce or revoke the beneficiary interest of a designated beneficiary identified as the member's spouse if a divorce is pending, except with a signed and notarized waiver of beneficiary interest made by the spouse or pursuant to an order of the court in which the divorce is pending.
(b) If a change resulting in a reduction or revocation of a spouse beneficiary's interest is made by the member, the member shall establish the member's right to reduce or revoke the spouse beneficiary's interest by completing a certification of marital status.
History: En. Sec. 17, Ch. 276, L. 2019.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1009. Payment to minor child -- opportunity to name custodian

19-20-1009. Payment to minor child -- opportunity to name custodian.
(1) The retirement system may not make a payment directly to an individual who is less than 21 years of age.
(2) The retirement system shall make a payment to which a minor child is entitled by making the payment to an entity or adult designated as a custodian for the minor child pursuant to the Montana Uniform Transfers to Minors Act or to a person or entity designated by court order as legal guardian or conservator for the minor child.
(3) If a custodian for the child has not been designated, the retirement system shall withhold payment of any amount until the minor child attains 21 years of age or until a court order of guardianship or conservatorship is issued on behalf of the child.
History: En. Sec. 18, Ch. 276, L. 2019.
2023 Montana Code Annotated › Title 19. Public Retirement Systems › Chapter 20. Teachers' Retirement › Part 10. Death Benefits › 19-20-1013. Supremacy of retirement system provisions

19-20-1013. Supremacy of retirement system provisions.
The designation and payment of beneficiaries under the retirement system is governed solely by the provisions of this chapter. No other provisions of law apply.
History: En. Sec. 19, Ch. 276, L. 2019.