Administrative Rules of Montana
Department 2 - ADMINISTRATION
Chapter 2.44 - TEACHERS' RETIREMENT BOARD
Subchapter 2.44.5 - Benefits
Rule 2.44.517 - FORMULA FOR DETERMINING CONTRIBUTIONS DUE ON TERMINATION PAY
Universal Citation: MT Admin Rules 2.44.517
Current through Register Vol. 18, September 20, 2024
(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.
Sec. 19-4-201 and 19-20-201 MCA; IMP, Sec. 19-4-101(5), 19-20-101 and 19-20-716 MCA;
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