Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.43 - PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter 2.43.30 - Family Law Orders
Rule 2.43.3004 - FAMILY LAW ORDERS FOR THE PERS DEFINED CONTRIBUTION RETIREMENT PLAN
Universal Citation: MT Admin Rules 2.43.3004
Current through Register Vol. 18, September 20, 2024
(1) This rule applies only to the DCRP.
(2) A "participant" may be a member or a "primary" or "contingent beneficiary."
(3) Disability benefits under the defined contribution plan may not be divided by a FLO.
(4) In the PERS defined contribution retirement plan, the payments to an alternate payee are allowed as follows:
(a) The FLO must state the amount or the
proportion, or it must describe the method for calculating the amount or
proportion.
(b) If the participant
is not eligible for a distribution of their account, the alternate payee's
amount or proportion must be paid as soon as administratively
feasible.
(c) If the participant is
receiving or is eligible to receive distributions from their account, the
alternate payees' amount or proportion must be paid from the distributions as
set out in the applicable family law order.
(d) The fixed amount, the designated monthly
dollar amount, the designated number of months, and the proportion may not be
changed by future conditions or events.
(e) Payments will end when:
(i) payments to the participant
end;
(ii) the fixed amount is paid;
or
(iii) the account is
depleted.
19-2-403, 19-2-907, MCA; IMP, 19-2-907, MCA;
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