Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.44 - TEACHERS' RETIREMENT BOARD
Subchapter 2.44.3 - Membership
Rule 2.44.301A - DEFINITIONS
Current through Register Vol. 6, March 22, 2024
For the purpose of this chapter, the following definitions apply:
(1) "Alternate payee" means an alternate payee as defined in 19-20-305, MCA.
(2) "Board" or "retirement board" means the Teachers' Retirement Board as provided for in 2-15-1010, MCA.
(3) "Contingent beneficiary" means a beneficiary designated to receive payments if all primary beneficiaries are deceased. Contingent beneficiaries will be awarded benefits on a share-and-share-alike basis, unless specified otherwise on the member's designation form.
(4) "Direct rollover" means a distribution made by the Teachers' Retirement System directly to an eligible retirement plan specified by the participant.
(5) "Eligible retirement plan" means any of the following that accepts a participant's eligible rollover distribution:
(6) "Enrolled actuary" means a person who is enrolled by the Joint Board for the Enrollment of Actuaries established under Subtitle C of the Title III of the Employee Retirement Income Security Act of 1974.
(7) "Family law order (FLO)" means a family law order as defined in 19-20-305, MCA.
(8) "Nonqualified service credit" means permissive service credit other than for services as defined in IRC section 415(n)(3)(C).
(9) "Paraprofessional" means someone who provides instructional support which includes:
(10) "Participant" means a person who has or is eligible to receive a distribution from the Teachers' Retirement System including:
(11) "Primary beneficiary" means a beneficiary or beneficiaries designated to receive payments upon the death of an active, inactive or retired member, or alternate payee. Primary beneficiaries will be awarded benefits on a share-and-share-alike basis, unless specified otherwise on the member's designation form.
(12) "Service credits" or "creditable service" means the number of years credited to a member's account for which contributions have been received as required by statute or rule.
(13) "School term or school year" means the fiscal year July 1 through June 30.
19-4-201, 19-20-201, MCA; IMP, 19-20-101, 19-20-106, 19-20-204, 19-20-302, 19-20-305, MCA;