reglab/statecodes huggingface dataset:
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.3 - Membership › Rule 2.44.306 - ACTUARIAL ASSUMPTIONS, RATES AND TABLES

Current through Register Vol. 13, July 5, 2024
(1) All actuarial assumptions, rates and
				tables shall be adopted at a meeting of the board and included in the minutes
				of that meeting.
(2) This rule
				refers to but is not limited to the following:
(a) optional retirement table;
(b) monthly annuity table;
(c) termination pay rate table;
(d) rates for mortality, disability,
				retirement, and withdrawal;
(e)
				assumptions for future salaries, investment earnings, administrative expense
				and termination.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.3 - Membership › Rule 2.44.307 - MEMBERSHIP OF TEACHER'S AIDES AND PART-TIME EMPLOYEES

Current through Register Vol. 13, July 5, 2024
(1) Teacher's aides employed in an
				instructional services capacity after September 1, 1989, are required to
				participate in the teachers' retirement system provided their predominate
				duties are those of a teacher's aide and not a substitute teacher or any other
				position for which membership is mandatory under
				19-20-302, MCA and that they are:
(a) employed for 3.5 hours per day or 17.5
				hours per week and;
(b) employed at
				least 210 hours during the school year.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.3 - Membership › Rule 2.44.308 - INDEPENDENT CONTRACTOR

Current through Register Vol. 13, July 5, 2024
(1) Any person
				employed as an independent contractor shall be ineligible for membership in the
				TRS. Certification from the Montana Department of Labor and Industry pursuant
				to 39-71-401, MCA, as an independent
				contractor shall be accepted as prima facie evidence of independent contractor
				status by the Teachers' Retirement Board.
(2) In absence of certification by the
				Department of Labor and Industry, it must be shown that the worker is both free
				from direction and control of the party utilizing their services and have an
				independently established business.
(3) If a person's status as an independent
				contractor is in question, they must become a member of the TRS as provided
				under 19-20-302, MCA. The burden of
				proof before the Teachers' Retirement Board is on the employer. Upon request,
				the employer will submit to the Teachers' Retirement Board a copy of the
				independent contractor certification issued by the Department of Labor and
				Industry for any contractor employed in a position normally eligible for
				membership under the TRS.
19-20-201, MCA; IMP,
					 19-20-302,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.401 - CALCULATING SERVICE CREDITS

Current through Register Vol. 13, July 5, 2024
(1) The basic
				period of time for calculating service credit shall be the fiscal year July 1
				through June 30. Generally, service credit in the Montana Teachers' Retirement
				System shall be based upon the following unless otherwise provided by rule or
				statute:
(a) Service credit for Public
				Employees' Retirement System service qualified in the Teachers' Retirement
				System shall be credited to the member's account at the same rate earned under
				and reported to the Public Employees' Retirement System.
(b) A member employed less than full-time
				during the fiscal year shall receive part-time service credit based on the
				total number of hours, days, or months reported to the Teachers' Retirement
				System, divided by the number of hours, days, or months of equivalent full-time
				service. For the purpose of this subsection, seven hours shall be considered
				one day.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.402 - CREDIT FOR MILITARY SERVICE

Current through Register Vol. 13, July 5, 2024
(1) For those
				eligible, military credit will be given for active service in World War II from
				October 1940 through June 1947, and for service in the Korean Conflict from
				June, 1950 through January, 1955, and for any period of active service allowed
				under 19-20-404, MCA.
(2) Any member having purchased military
				service that is subsequently granted at no cost shall receive a refund of their
				accumulated contributions.
(3)
				Verification of military service should be submitted on form DD 214, or if not
				applicable, a form which certifies the date of entry into active military duty
				and the date of separation. A form should be provided for each term of active
				duty.
(4) The period of time used
				for crediting military service shall be the fiscal year of July 1 through June
				30. Military service shall be credited on the basis of 12 full months of active
				duty equals one year of creditable service or a proportion thereof, based on
				the number of full months to 12. A partial month will be credited on the basis
				of the number of active duty days divided by 360.
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-404
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.403 - REDEPOSIT OF AMOUNTS WITHDRAWN

Current through Register Vol. 13, July 5, 2024
(1) If a
				member wishes to redeposit previous withdrawals, it is necessary that the most
				recent withdrawal be redeposited first.
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-602
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.404 - PARTIAL PURCHASE OF ADDITIONAL CREDIT AT DEATH OR DISABILITY (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-401
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.405 - INTEREST ON NON-PAYMENT FOR ADDITIONAL CREDITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-401 through
					 19-4-411
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.406 - PURCHASE OF CREDIT DURING EXEMPT PERIOD (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-401 and
					 19-4-406
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.407 - CREDITABLE SERVICE FOR TEACHING IN PRIVATE EDUCATIONAL INSTITUTIONS

Current through Register Vol. 13, July 5, 2024
(1) A member may apply for creditable service
				for teaching in a private elementary, secondary, post-secondary educational
				institution, or special purpose school. For purpose of this section the term
				"educational institution" means only an institution or school that normally
				maintains a regular faculty and curriculum and normally has a regular organized
				body of students in attendance at the place where its educational activities
				are carried on and has been accredited by either the state in which it operates
				or a recognized association. A school or other function operated in a private
				home will not be considered an "educational institution".
(2) The person applying to purchase private
				teaching service must have been in compliance with the certification
				requirements of the state (or federal agency) in which the institution was
				located at the time the service was performed.
Sec.
					 19-4-201 and
					 19-20-201 MCA; IMP, Sec.
					 19-4-408 and
					 19-20-408
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.408 - CREDITABLE SERVICE FOR ABSENCE WITHOUT PAY

Current through Register Vol. 13, July 5, 2024
(1) Not more than 1 month's creditable
				service shall be awarded in any school year for 1 or more continuous months of
				absence without pay. To qualify this service, a member shall contribute to the
				retirement system, upon his return to contributing membership service, an
				amount equal to the combined employee and employer contributions which would
				have been made had he not been absent, based on his compensation at the
				commencement of his absence.
(2)
				Service credit shall be determined based upon his monthly FTE at the
				commencement of his absence.
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-204
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.409 - TRANSFER OF SERVICE CREDIT FROM THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Current through Register Vol. 13, July 5, 2024
(1) A member may at any time before
				retirement request that his or her public employees' retirement service credits
				earned prior to their latest TRS membership service be transferred in
				accordance with the provisions of
				19-20-409, MCA provided that the
				member:
(a) is an active contributing member
				of the teachers' retirement system; and
(b) is not eligible for membership under the
				public employees' retirement system.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.410 - PURCHASE OF ONE YEAR ADDITIONAL SERVICE FOR EACH FIVE YEARS OF MEMBERSHIP SERVICE (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-412
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.411 - CREDITABLE SERVICE FOR EMPLOYMENT IN A FEDERAL, PUBLIC OR PRIVATE SCHOOL OUTSIDE THE UNITED STATES OR ITS POSSESSIONS

Current through Register Vol. 13, July 5, 2024
(1) A member may apply to purchase creditable
				service for employment outside the United States or its possessions in a
				federal, public or private school if it is an organized, existing institution
				established and operated for the purpose of instructing students.
(2) A member must provide adequate
				documentation to permit the board to reasonably ascertain:
(a) if the services performed would be
				eligible for membership under the teachers' retirement system had they been
				performed in Montana and;
(b) if
				the school is a qualified institution established for the purpose of
				instructing students.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.412 - NATIONAL GUARD, RESERVISTS, AND VETERANS CALLED TO ACTIVE DUTY

Current through Register Vol. 13, July 5, 2024
(1) Members of the TRS called to active duty
				for a period not to exceed five years and reemployed in accordance with the
				provisions of the Uniformed Services Employment and Reemployment Rights Act of
				1994 shall be considered continuously employed during their military leave when
				determining vested interest and eligibility for retirement benefits.
(2) Reemployed National Guard, reservists,
				and veterans may elect to purchase creditable service for their military leave
				to be used in the calculation of retirement benefits. The cost to purchase this
				service shall be equal to the employee contributions that would have been made
				had they not been called to active duty. Interest accruing on the balance due
				to purchase active duty service will not be levied during the five years
				following the date of reemployment. If payment is not completed within five
				years following reemployment, interest will be assessed as provided under
				ARM
(3) To qualify for service
				under this rule, the member called to uniformed service must remain an inactive
				member of the retirement system during the period of service in the uniformed
				services by leaving his or her accumulated contributions on deposit.
(4) A member who is making additional
				contributions under a service purchase contract at the time he or she is called
				to service in the uniformed services may suspend payments under the contract if
				they return to employment as required by the Act.
19-4-201,
					 19-20-201, MCA; IMP,
					 19-4-801,
					 19-4-901,
					 19-4-1001,
					 19-20-415,
					 19-20-801,
					 19-20-901,
					 19-20-1001,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.413 - CREDITABLE SERVICE - ACTUARIAL COST

Current through Register Vol. 13, July 5, 2024
(1) The
				actuarial cost to purchase creditable service will vary by the member's
				compensation, age and years of service at the time they apply or are eligible
				to purchase the additional service.
(a) The
				total compensation reported to the TRS for the most recent fiscal year or the
				member's average final compensation, whichever is greater, will be used to
				determine the actuarial cost.
(b)
				The members age at the time they make application to purchase service will be
				determined in compliance with ARM
				2.44.525.
(c) The years of service used in the formula
				to determine the actuarial cost will include the total number of years of
				creditable service the member is eligible to purchase on the date they apply or
				are eligible to purchase service under this rule.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.414 - INSTALLMENT PURCHASE

Current through Register Vol. 13, July 5, 2024
(1) If a member
				signs an irrevocable payroll deduction authorization and subsequently
				terminates employment, the cost to purchase the balance of the remaining
				service will be recalculated at the time the member reapplies to purchase the
				balance of the service.
19-20-201, MCA; IMP,
					 19-20-402,
					 19-20-403,
					 19-20-404,
					 19-20-408,
					 19-20-409,
					 19-20-410,
					 19-20-411,
					 19-20-414,
					 19-20-415,
					 19-20-416,
					 19-20-417,
					 19-20-426,
					 19-20-427,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.415 - ROLLOVER OF OUT-OF-STATE CONTRIBUTIONS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-20-201 MCA; IMP, Title 19,
					 chapter 20, part 4 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.416 - SERVICE PURCHASE RESOLUTIONS

Current through Register Vol. 13, July 5, 2024
(1) The effective
				date of any resolution adopted for the purpose of allowing employees to
				purchase service with contributions on a picked-up, pre-tax basis, must be at
				least 2 months following the month in which the resolution is adopted. For
				example: if the resolution is adopted by the governing board on July 8, 1999,
				the earliest effective date would be September 1, 1999 for additional
				contributions withheld from compensation earned after September 1, 1999, and
				reported on the employer's teachers' retirement system (TRS) report for
				September, 1999.
(2) On the first
				monthly report coinciding with the effective date of the resolution, all
				additional contributions must stop and cannot be reinstated until the employee
				and employer have signed the irrevocable election form required by
				19-20-415, MCA.
(3) The service purchase-irrevocable election
				form will be available only through the office of the teachers' retirement
				system and must be requested at least 30 days prior to the effective date of
				the resolution to ensure the member will be able to continue payroll deductions
				uninterrupted.
(4) Employers who
				fail to withhold additional contributions in compliance with the applicable
				state and federal laws and rules adopted by the board will be notified that the
				additional contributions cannot be credited to the member's account. The
				employer will be required to take a credit on their next monthly report for any
				amounts reported in error, and to correct their tax withholding
				records.
Sec.
					 19-20-201 MCA; IMP, Sec.
					 19-20-415
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.4 - Creditable Service › Rule 2.44.417 - LIMITATION ON AFTER-TAX PURCHASE OF PERMISSIVE SERVICE CREDIT

Current through Register Vol. 13, July 5, 2024
(1) The Teachers' Retirement System can
				accept after-tax contributions from a member during a limitation year only if:
(a) the voluntary additional contribution to
				be made by the member does not exceed the amount determined by the Teachers'
				Retirement System to be necessary to fund the benefit attributable to such
				service credit; and
(b) the
				requirements of Internal Revenue Code (IRC) section 415(b) are met (without
				regard to any reductions for early retirement age), determined by treating the
				accrued benefit derived from all such contributions as an annual benefit for
				purposes of IRC section 415(b); or
(c) the requirements of IRC section
				415(c)(1)(A) are met (without regard to the compensation limit), determined by
				treating all such contributions as annual additions for purposes of IRC section
				415(c).
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.501 - GENERAL ELIGIBILITY DATE (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-801 through
					 19-4-804
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.502 - ELIGIBILITY UNDER MID-TERM RETIREMENTS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 and
					 19-20-201 MCA; IMP, Sec.
					 19-4-801 through
					 19-4-804 and
					 19-20-801 through
					 19-20-804
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.503 - ELIGIBILITY UNDER FULL SCHOOL-YEAR RETIREMENTS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-801 and
					 19-4-802
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.504 - ELIGIBILITY FOR DISABILITY BENEFITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-901
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.505 - ELIGIBILITY FOR SURVIVOR BENEFITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
19-4-201,
					 19-20-201, MCA; IMP,
					 19-4-1001,
					 19-20-1001,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.506 - BENEFIT PAYMENTS

Current through Register Vol. 13, July 5, 2024
(1) The first
				benefit will be payable the last day of the month in which the benefit began
				and future benefits will be payable the last day of each succeeding
				month.
(2) Monthly benefits will be
				paid based upon information provided by the member and estimates prepared by
				the teachers' retirement system until final salary information and
				contributions are received. Adjustments will be retroactive to the retirement
				effective date.
(3) At the time
				application for retirement benefits is made, each applicant must submit a copy
				of their final year's contract, any previous contract(s) as may be requested
				and a copy of their letter of resignation if one was submitted to their
				employer. If a member does not have a written contract, a statement from their
				employer verifying their daily or hourly rate of pay, their full time
				equivalent and the number of days they were employed in the fiscal year will be
				accepted.
(4) Monthly benefits will
				be prorated to the date of death of the retiree or beneficiary.
Sec.
					 19-4-201,
					 19-20-201 MCA; IMP, Sec.
					 19-4-703,
					 19-20-703 and
					 19-20-716
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.507 - PAYMENT OF CHILDREN'S BENEFITS

Current through Register Vol. 13, July 5, 2024
(1) The
				child's benefit will be last payable the month in which he attains age
				18.
(2) A birth certificate or some
				evidence of birth date is required for each child eligible to receive the child
				benefit.
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-1002
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.508 - NON-AVAILABILITY OF DISABILITY BENEFITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-801 and
					 19-4-901
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.509 - COMPUTATION OF AVERAGE FINAL COMPENSATION

Current through Register Vol. 13, July 5, 2024
(1)
				The average final compensation of a member who retires or dies before they
				receive full service credit for the fiscal year, shall be determined by using
				the greater of:
(a) the equivalent of the
				final three consecutive years' contracts reported to the system, based on the
				percentage of the member's final contract reported during their last fiscal
				year, plus any additional compensation reported during the same period. For
				example, if 50% of the member's contract is reported during their final fiscal
				year, then we would calculate AFC using the compensation reported during the
				last fiscal year, plus the salary reported the first fiscal year preceding
				retirement, plus the salary reported the second fiscal year preceding
				retirement, plus 50% of the salary reported the third fiscal year preceding
				retirement; or
(b) any 3 full
				consecutive fiscal years' compensation which yield the highest
				average.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.510 - ADJUSTMENT OF BENEFITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 and
					 19-20-201 MCA; IMP, Sec.
					 19-4-804 and
					 19-20-804
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.511 - REINSTATEMENT OF BENEFITS (REPEALED)

Current through Register Vol. 13, July 5, 2024
19-4-201,
					 19-20-201, MCA; IMP,
					 19-4-302, 19 4 804,
					 19-20-302,
					 19-20-731,
					 19-20-804,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.512 - CHANGE OF BENEFICIARY AND/OR CHANGE OF RETIREMENT OPTION

Current through Register Vol. 13, July 5, 2024
(1) The retired member shall submit an
				application form prescribed by the teachers' retirement board which shall
				contain the name and social security number of any newly designated
				beneficiary.
(2) If the change in
				beneficiary is due to the death of the beneficiary of record, the retired
				member shall submit a copy of the death certificate.
(3) If the change in beneficiary is due to
				dissolution of marriage, the retired member shall submit a copy of the decree
				of dissolution or marital property settlement, whichever provides documentation
				that the current beneficiary of record is not entitled to receive all or part
				of the optional allowances as part of the judicial decree.
(4) The effective date to change a retirement
				allowance shall be the first of the month, following the month in which the
				application is received.
(5) If the
				member wishes to retain the same retirement option or change options, the
				member shall so designate on the application form and also furnish a copy of
				the beneficiary's birth certificate if the option includes the new
				beneficiary.
Sec.
					 19-4-201 and
					 19-4-702 MCA; IMP, Sec.
					 19-4-702
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.513 - WITHHOLDING OF GROUP INSURANCE PREMIUM FROM RETIREMENT BENEFIT (REPEALED)

Current through Register Vol. 13, July 5, 2024
19-4-201,
					 19-20-201, MCA; IMP,
					 19-4-1101,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.514 - LUMP SUM PAYMENTS AT THE END OF THE SCHOOL TERM (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-101(8)
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.515 - CORRECTION OF ERRORS ON CONTRIBUTIONS AND OVERPAYMENTS

Current through Register Vol. 13, July 5, 2024
(1) Corrections of errors may be made by the
				employer on subsequent monthly reports via a letter of explanation and credit
				taken or additional payment remitted. Corrections reducing an employee's
				contributions cannot be accepted if the employee has received a
				refund.
(2) Contributions and wages
				reported for prior school years must be corrected using the employee and
				employer contribution rates in effect for the period the wages were
				earned.
(3) If the error caused
				membership service to be credited incorrectly, the member's account must be
				adjusted accordingly.
19-4-201,
					 19-20-201, MCA; IMP,
					 19-4-208,
					 19-20-208,
					 19-20-716,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.516 - REFUND OF EMPLOYER CONTRIBUTIONS MADE ON TERMINATION PAY (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-101(5) and
					 19-4-208
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.517 - FORMULA FOR DETERMINING CONTRIBUTIONS DUE ON TERMINATION PAY

Current through Register Vol. 13, July 5, 2024
(1) Except as provided in (2), the formula
				for determining contributions due under Option 1,
				19-20-716, MCA shall be a
				percentage of the termination pay, based upon the member's age at the time of
				retirement, times the total years of creditable service.
(2) Upon disability retirement, the
				contributions due to
adequately compensate the system for the additional benefit
				  for termination pay under Option 1, shall be based on 15 years or the member's
				  total years of creditable service, whichever is greater.
Sec.
					 19-4-201 and
					 19-20-201 MCA; IMP, Sec.
					 19-4-101(5),
					 19-20-101 and
					 19-20-716
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.517A - REPORTING OF TERMINATION PAY

Current through Register Vol. 13, July 5, 2024
(1) A completed
				and signed Termination Pay Form together with the employee and employer
				contributions due must be received by the TRS by the 15th of the month,
				following the month in which the employee terminated employment. Only
				termination pay that is paid at the time of termination and retirement is
				reportable to the TRS.
(2) Tax
				deferred contributions remitted by an employer cannot exceed the total
				termination pay amount payable to the employee. Any contributions due that are
				greater than the termination pay amount payable to the employee cannot be
				picked up by the employer.
(3)
				Interest will be assessed at the actuarially assumed rate on employee and/or
				employer contributions over 30 days delinquent.
(4) If contributions on termination pay are
				not received within 60 days of the effective date of retirement, monthly
				benefits calculated using termination pay may be recalculated and adjusted
				retroactive to the date of retirement.
(5) If the member submits the employee
				contributions due but the employer refuses or does not timely remit the
				employer contributions due, the member will be given 30 days to work with the
				employer to remit contributions due before benefits will be
				recalculated.
(6) The retiree and
				their employer will be notified in writing prior to assessing interest on
				unpaid contributions, or recalculating retirement benefits.
19-20-201, MCA; IMP,
					 19-20-101,
					 19-20-716,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.518 - LIMIT ON EARNED COMPENSATION - 10% CAP

Current through Register Vol. 13, July 5, 2024
(1) The
				earned compensation for each year used in calculating a member's average final
				compensation may not exceed either the member's actual earned compensation or
				earnings adjusted by this rule for the preceding year by more than 10% except
				for increases that result from:
(a)
				collective bargaining agreements;
(b) a change or adjustments in a salary
				schedule covering a certifiable group of employees not covered under a
				collective bargaining agreement. The employer must certify the group of
				employees affected by the change or adjustment in the salary schedule, the
				increase received by each employee, and the methodology for determining the
				increases;
(c) compensation
				received for summer employment, provided summer compensation does not exceed
				one-ninth of the academic year contract for each full month or prorated for
				each portion of a month employed during the summer;
(d) change of employer;
(e) re-employment for a period of not less
				than one year following a break in service;
(f) a promotion to an existing permanent
				position with the same employer. The assignment of temporary duties or a new
				job added to existing duties, an acting or interim appointment, a change in
				classification or title, or an increase in compensation received would not
				qualify as a promotion; or
(g) the
				combination of salary from multiple employers that when reviewed separately
				does not exceed 10%.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.519 - POST-RETIREMENT ADJUSTMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-4-711,
					 19-4-712 and
					 19-4-713
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.520 - CALCULATION OF ANNUAL BENEFIT ADJUSTMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-15-102
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.521 - ELIGIBILITY FOR ANNUAL BENEFIT ADJUSTMENT (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP, Sec.
					 19-15-102
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.522 - FAMILY LAW ORDER - CONTENTS AND DURATION

Current through Register Vol. 13, July 5, 2024
(1) The
				board will make available to the public model forms approved for inclusion in a
				proposed Family Law Order (FLO).
(2) If benefits are currently payable to the
				participant(s), the FLO may specify a future effective date; however, a FLO may
				not provide for payments to an alternate payee prior to the date on which the
				participant first becomes eligible for payment from the TRS.
(3) If benefits are payable pursuant to a FLO
				that meets the requirements of a domestic relations order as defined in IRC
				section 414(p), the applicable provisions of IRC section 414(p) will be
				followed by the Teachers' Retirement System in giving effect to the
				FLO.
(4) Two basic types of payment
				distributions are allowed to alternate payees: "fixed amount" and "actuarially
				equivalent benefit."
(a) A "fixed amount"
				must designate a specific total dollar amount to be paid to the alternate payee
				over a specified period of time, or a specified monthly amount payable for the
				life of the participant, neither of which can be greater than the total monthly
				benefit payable to the participant.
(b) An "actuarially equivalent benefit" is
				payable for the life of the alternate payee.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.523 - FAMILY LAW ORDERS - APPROVAL AND IMPLEMENTATION

Current through Register Vol. 13, July 5, 2024
(1) A participant or alternate payee must
				submit a certified copy of a court judgment, decree, or order containing a
				proposed FLO to the board for approval. The board has delegated authority for
				approval of a proposed FLO to the executive director of TRS.
(2) The effective date for purposes of
				allocating benefits and payments in progress is the first day of the month
				following receipt of a certified copy of the FLO.
(3) For purposes of allocating a lump sum
				payment, a certified copy of the FLO must be received before the payment is
				mailed or otherwise conveyed to the participant.
(4) The board's decision to approve or not
				approve a proposed FLO is final unless the participant or alternate payee files
				a request for an administrative contested case hearing within ten days from the
				date the board sends notice of the decision. If an administrative hearing is
				properly requested, the final administrative decision must be made by the board
				after receiving the hearing examiner's proposed decision.
(5) Upon receipt of a certified copy of a
				stay from the issuing court or the Montana Supreme Court, the board will
				suspend further consideration or implementation of a proposed FLO. Unless
				otherwise directed by court order, the board will retain payments withheld
				prior to receipt of the stay and simultaneously resume making payments of
				participant(s) full benefit(s). The board will take further action only on
				receipt of a certified copy of an order directing such action. If the stay is
				lifted, the board will proceed with recognition, approval and implementation
				procedures as outlined herein. Any amount owing the alternate payee may be paid
				out of any payments owing the participant.
(6) Costs of reviewing and administering the
				FLO, including actuarial analysis and attorneys' fees, may be assessed by the
				board and billed to the party filing the proposed FLO with the board, unless
				another party is designated in the FLO to pay the costs. Amounts owing plus
				interest thereon at an annualized effective rate of 8% may be offset against
				payments to be received by the appropriate party.
(7) An alternate payee may receive payment by
				electronic fund transfer upon submission of a properly executed form required
				by the board.
(8) An alternate
				payee must promptly inform the board of any change of name or
				address.
(9) The Teachers'
				Retirement System may establish separate benefits for a member and an alternate
				payee.
19-20-201, MCA; IMP,
					 19-20-305,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.524 - ADJUSTMENT OF DISABILITY ALLOWANCE FOR OUTSIDE EARNINGS

Current through Register Vol. 13, July 5, 2024
(1) A disabled member who is engaged in a
				gainful occupation must notify the Teachers' Retirement System within thirty
				days of being engaged in that occupation. Notification must include:
(a) name and address of employer, including
				if self-employed;
(b) salary or
				hourly rate of pay and estimated yearly earnings; and
(c) description of their duties and
				responsibilities and if the position is full-time or part-time.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.525 - CALCULATION OF AGE

Current through Register Vol. 13, July 5, 2024
(1) If a member
				applies for benefits which are based on the member's age, the whole age that
				the member is or will be closest to on the effective date of the benefit will
				be used. For example; if the member is age 55, 6 months, 1 day, age 56 will be
				used in the calculation of benefits. If the member is age 55, 6 months, 0 days,
				age 55 will be used in the calculation of benefits.
Sec.
					 19-20-201 MCA; IMP, Sec.
					 19-20-101 and
					 19-20-702
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.526 - VALUE OF HOUSING

Current through Register Vol. 13, July 5, 2024
(1) Effective March
				10, 1995, the value of any housing included as part of a member's contract,
				that was not reported to TRS, must not be reported to the teachers' retirement
				system in the future. Members with the value of housing included in earned
				compensation reported during fiscal year 1995 must continue to report the value
				of housing for as long as they remain with their current employer.
Sec.
					 19-20-201 MCA; IMP, Sec.
					 19-20-101(8)
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.527 - PAYMENT FOR SERVICE - CALCULATION OF RETIREMENT BENEFITS

Current through Register Vol. 13, July 5, 2024
(1) If the final payment due to purchase
				service credits is over 60 days past due, the member will be notified in
				writing that contributions, plus accrued interest, are due and payable, and
				that benefits will be recalculated and corrected retroactive to the date of
				retirement if payment is not received within 30 days of notification.
19-20-201, MCA; IMP,
					 19-20-801,
					 19-20-901,
					 19-20-1001,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.528 - Extra Duty Compensation

Current through Register Vol. 13, July 5, 2024
(1) As limited by
				this rule, extra duty compensation includes payment for extra duty assignments
				provided it is the standard practice of the employer to:
(a) maintain and publish an extra duty
				schedule that is approved and adopted by the governing body;
(b) include extra duty compensation in the
				member's employment contract; and
(c) specifically include the extra duty in
				the official job description.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.529 - LIMITATION ON ANNUAL BENEFIT

Current through Register Vol. 13, July 5, 2024
(1) For
				purposes of this rule, all defined benefit plans of the employer, whether or
				not terminated, are to be treated as a single defined benefit plan.
(2) For purposes of applying the limits under
				Internal Revenue Code (IRC) section 415(b), in no event shall a member's annual
				benefit payable under the Teachers' Retirement System in any limitation year be
				greater than the limit applicable at the annuity starting date, as increased in
				subsequent years pursuant to IRC section 415(d) and the regulations
				thereunder.
(3) If the form of
				benefit is not a straight life or a qualified joint and survivor annuity, then
				(2) is applied by either reducing:
(a) the
				limit in IRC section 415(b) applicable at the annuity starting date;
				or
(b) adjusting the form of
				benefit to an actuarially equivalent straight life annuity benefit determined
				using the assumptions required by the Treasury Regulation under IRC section
				415, and the applicable mortality table described in Treasury Regulations
				section 1.417(e)-1(d)(2) (the mortality table specified in Revenue Ruling
				2001-62).
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.5 - Benefits › Rule 2.44.530 - DETERMINATION OF INCENTIVES AND BONUSES AS PART OF A SERIES OF ANNUAL PAYMENTS AND INCLUDED IN EARNED COMPENSATION

Current through Register Vol. 13, July 5, 2024
(1) An
				incentive or bonus payment paid to a member is part of a series of annual
				payments, and therefore included in earned compensation, only if:
(a) the incentive or bonus has been paid to
				the member for at least five consecutive years;
(b) the employer publishes, in some official
				manner (in board minutes, in a collective bargaining agreement, in employment
				contracts, etc.):
(i) its intent to make the
				incentive or bonus payments;
(ii)
				who will receive the incentive or bonus payments;
(iii) the criteria for determining the award
				and amount of the incentive and bonus payments with respect to all employees
				and certification classes to receive the payments;
(iv) the anticipated duration of the
				incentive or bonus payments;
(v)
				the specific annual amount of the incentive or bonus payment or the specific
				percentage of annual salary by which the incentive or bonus payment will be
				calculated;
(vi) how the incentive
				or bonus payments will be made (annually, monthly, etc.); and
(vii) the date by which the payment will be
				made.
(c) the incentive
				or bonus payment amount in each year is the same or is subject to fluctuation
				only if the payment is determined as a percentage of annual salary, in which
				case, the percentage increase in annual salary is the same in each year for all
				employees of the certification class (teacher, administrator, or
				superintendent);
(d) continuation
				of the incentive or bonus payment is relatively certain and not subject to
				budgetary discretion, revenue stream factors, or award or payment criteria that
				puts the payment at any greater risk of nonpayment than the base salary;
				and
(e) eligibility criteria and
				payment calculation methodologies do not weight the award of or amount of
				incentive or bonus payments in a manner that disproportionately increases
				compensation to employees based on years of service or age, including that:
(i) if an incentive or bonus is paid to one
				employee of a certification class, the incentive or bonus must be paid to every
				member of that certification class; and
(ii) the amount of the incentive or bonus
				paid to each employee of a certification class must be the same, except that
				the incentive or bonus payment amount paid to each member of the certification
				class may be calculated as a percentage of each employee's annual salary, in
				which case, the percentage of annual salary to be calculated must be the same
				for all employees of the certification class.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.6 - Tax-Deferred Annuity Program › Rule 2.44.601 - GENERALLY (REPEALED)

Current through Register Vol. 13, July 5, 2024
Sec.
					 19-4-201 MCA; IMP,
					 19-4-207
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.701 - VESTING IN MEMBER CONTRIBUTIONS

Current through Register Vol. 13, July 5, 2024
(1) A
				member shall be 100% vested in his or her accumulated contributions at all
				times.
19-20-201, MCA; IMP,
					 19-20-106,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.702 - GOOD FAITH COMPLIANCE WITH INTERNAL REVENUE CODE

Current through Register Vol. 13, July 5, 2024
(1) The Teachers' Retirement System will pay
				all benefits in accordance with a good faith interpretation of the requirements
				of IRC section 401(a)(9) and the regulations thereunder as applicable to a
				governmental plan, within the meaning of IRC section 414(d).
19-20-201, MCA; IMP,
					 19-20-106,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.703 - TIMING OF DISTRIBUTION

Current through Register Vol. 13, July 5, 2024
(1) A member's
				entire benefit must be distributed:
(a) over
				the member's life or the lives of the member and a designated beneficiary;
				or
(b) over a period not extending
				beyond the life expectancy of the member or of the member and a designated
				beneficiary.
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.704 - LIMITATION OF AMOUNT OF ANNUITY DISTRIBUTION TO BENEFICIARY

Current through Register Vol. 13, July 5, 2024
(1) The amount of an annuity paid to a
				member's beneficiary may not exceed the maximum determined under the incidental
				death benefit requirement in IRC section 401(a)(9)(G).
(2) Effective for any annuity commencing on
				or after July 1, 2008, the amount of annuity paid to a member's beneficiary may
				not exceed the minimum distribution incidental benefit rule under Treasury
				Regulation section 1.401(a)(9)-6, Q&A-2.
19-20-201, MCA; IMP,
					 19-20-106,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.705 - DEATH AND DISABILITY BENEFITS LIMITED BY INCIDENTAL BENEFIT RULE

Current through Register Vol. 13, July 5, 2024
(1) The death and disability benefits
				distributed by the Teachers' Retirement System will be limited by the
				incidental benefit rule set forth in IRC section 401(a)(9)(G) and Treasury
				Regulation section 1.401-1(b)(1)(i).
(2) The total death or disability benefits
				payable may not exceed 25% of the cost for all of the members' benefits
				received from the Teachers' Retirement System.
19-20-201, MCA; IMP,
					 19-20-106,
					 MCA;
Administrative Rules of Montana › Department 2 - ADMINISTRATION › Chapter 2.44 - TEACHERS' RETIREMENT BOARD › Subchapter 2.44.7 - Vesting/Distributions › Rule 2.44.706 - GOOD FAITH CONTINUATION OF DISTRIBUTION OPTIONS

Current through Register Vol. 13, July 5, 2024
(1) Notwithstanding any other provision of
				this chapter or the Treasury Regulations, benefit distribution options may
				continue so long as the option satisfies IRC section 401(a)(9) based on a
				reasonable and good faith interpretation of that section.
19-20-201, MCA; IMP,
					 19-20-106,
					 MCA;