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Rule Title: INTEREST PAID TO PARTICIPANTS
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Department: ADMINISTRATION
Chapter: PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter: Highway Patrol Officers' Retirement System
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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2.43.4016    INTEREST PAID TO PARTICIPANTS

(1) A participant's DROP account must include compounded annual interest.

(2) Subject to (3), the interest rate will be fixed at the end of each fiscal year and will equal the actuarially assumed rate of return for the trust fund.

(3) Interest credited on the DROP account shall comply with any applicable provisions of 29 USC 623(i)(10)(B)(i) of the federal Age Discrimination in Employment Act (ADEA) and any applicable federal treasury regulations establishing market rates of return for purposes of complying with ADEA.

History: 19-2-403, 19-6-1003, MCA; IMP, 19-6-1003, 19-6-1005, MCA; NEW, 2015 MAR p. 2244, Eff. 12/25/15.


 

 
MAR Notices Effective From Effective To History Notes
2-43-535 12/25/2015 Current History: 19-2-403, 19-6-1003, MCA; IMP, 19-6-1003, 19-6-1005, MCA; NEW, 2015 MAR p. 2244, Eff. 12/25/15.
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