| HOME | SEARCH | ABOUT US | CONTACT US | HELP | ||
 |
 |
|
|
| Rule: 2.44.517 | Prev Up Next | |
| Rule Title: FORMULA FOR DETERMINING CONTRIBUTIONS DUE ON TERMINATION PAY | ||
|
|
Add to Favorites |
| Department: | ADMINISTRATION, DEPARTMENT OF | |
| Chapter: | TEACHERS' RETIREMENT BOARD | |
| Subchapter: | Benefits | |
| Latest version of the adopted rule presented in Administrative Rules of Montana (ARM): | ||
| Printer Friendly Version |
|
2.44.517 FORMULA FOR DETERMINING CONTRIBUTIONS DUE ON TERMINATION PAY (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. History: Sec. 19-4-201 and 19-20-201 MCA; IMP, Sec. 19-4-101(5), 19-20-101 and 19-20-716 MCA; NEW, 1987 MAR p. 2233, Eff. 12/11/87; AMD, 1988 MAR p. 473, Eff. 3/1/88; AMD, 1991 MAR p. 2596, Eff. 12/27/91; AMD, 1999 MAR p. 2837, Eff. 10/8/99. |
| MAR Notices | Effective From | Effective To | History Notes |
|---|---|---|---|
| 10/8/1999 | Current | History: Sec. 19-4-201 and 19-20-201 MCA; IMP, Sec. 19-4-101(5), 19-20-101 and 19-20-716 MCA; NEW, 1987 MAR p. 2233, Eff. 12/11/87; AMD, 1988 MAR p. 473, Eff. 3/1/88; AMD, 1991 MAR p. 2596, Eff. 12/27/91; AMD, 1999 MAR p. 2837, Eff. 10/8/99. |
A directory of state agencies is available online at http://www.mt.gov/govt/agencylisting.asp.
For questions about the organization of the ARM or this web site, contact sosarm@mt.gov.
