Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.43 - PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter 2.43.23 - Service Purchases
Rule 2.43.2304 - PURCHASE OF SERVICE AT ACTUARIAL COST
Universal Citation: MT Admin Rules 2.43.2304
Current through Register Vol. 18, September 20, 2024
(1) Members of an MPERA-administered retirement system who are eligible to and wish to purchase military, federal volunteer, one-for-five, out-of-state, Montana public service, or other public service from a previous retirement system to their current retirement system must pay the actuarial cost of that service.
(2) The actuarial cost of the service is determined as follows:
(a) The
member's age and membership service as of the date of the request, each rounded
to the nearest whole year, is used to determine the actuarial factor related to
the number of years service to be purchased.
(b) The actuarial factor determined in (2)(a)
is then multiplied by the member's compensation for the immediately preceding
12 months to determine the cost of the service to be purchased.
(3) A member of a retirement system is eligible to purchase only that service permitted to be purchased by statute.
19-2-403, MCA; IMP, 19-2-704, MCA;
Disclaimer: These regulations may not be the most recent version. Montana may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
