19-21-213. Participation by employees in positions covered by public employees’ retirement system
19-21-213. Participation by employees in positions covered by public employees’ retirement system. Subject to and as provided in 19-3-2112, a university system employee in a position covered under the public employees’ retirement system may elect to participate in the program. History: En. Sec. 34, Ch. 490, L. 2001.
19-21-101. Authority to establish university system retirement program
19-21-101. Authority to establish university system retirement program. The board of regents may establish a university system retirement program, as provided in this chapter, for the administrative officers and members of the instructional and scientific staff of the Montana university system. The program may be an independent plan or part of a larger plan with respect […]
19-21-102. Definitions
19-21-102. Definitions. Unless the context requires otherwise, as used in this chapter, the following definitions apply: (1) ”Program” means the university system retirement program established pursuant to this chapter. (2) ”Public employees’ retirement system” means the retirement system established in 19-3-103. (3) ”Teachers’ retirement system” or “system” means the teachers’ retirement system provided for in Title 19, chapter 20. […]
19-20-1205. Recovery of overpayments
19-20-1205. Recovery of overpayments. (1) Subject to subsection (2), an amount owed to the retirement system for overpaid benefits must be recovered as follows: (a) from any retirement benefit or other amount payable by the retirement system to a benefit recipient; or (b) through repayment by a benefit recipient who received an overpayment or by the estate of […]
19-20-1206. Interest on overpayments and unpaid contributions
19-20-1206. Interest on overpayments and unpaid contributions. (1) Except as provided in subsection (2), overpaid benefits and unpaid contributions accrue interest at the retirement system’s actuarially assumed annual rate of return, compounded monthly. Interest accrues beginning on the date that the first erroneous payment was made or that the contributions were first due and continues to […]
19-20-1207. through 19-20-1210 reserved
19-20-1207 through 19-20-1210 reserved.
19-20-1211. Notices required — initial notice — final staff determination
19-20-1211. Notices required — initial notice — final staff determination. (1) (a) Before taking action to correct an error or recover overpaid benefits or unpaid contributions, the retirement system shall provide a written initial notice to any person or entity from whom the overpayment or unpaid contributions may be recovered. (b) The initial notice must: (i) specify the grounds […]
19-20-1212. Recovery methods
19-20-1212. Recovery methods. (1) The retirement system may use any or all of the following methods to recover amounts owed from a member or benefit recipient: (a) accept a lump-sum payment; (b) accept installment payments; (c) accept a rollover payment from a member; (d) actuarially adjust monthly benefit payments; (e) withhold up to 50% of each monthly benefit payment; (f) withhold up […]
19-20-1213. Retirement system’s discretion — priority right to recover
19-20-1213. Retirement system’s discretion — priority right to recover. (1) Nothing in this part is intended to prohibit retirement system staff from working informally with an employer, a member, or a benefit recipient to mutually resolve an error and recover amounts owed to the retirement system prior to the retirement system taking formal action as provided […]
19-20-1214. Costs and fees for recovering amounts owed
19-20-1214. Costs and fees for recovering amounts owed. (1) Unless an overpayment or unpaid contributions resulted solely from an error of the retirement system, in any contested case or other civil proceeding for correction of an error or recovery of an overpayment or unpaid contributions, the retirement system is entitled to the costs enumerated in 25-10-201 […]