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 […]
19-20-1010. through 19-20-1012 reserved
19-20-1010 through 19-20-1012 reserved.
19-20-1013. Supremacy of retirement system provisions
19-20-1013. Supremacy of retirement system provisions. The designation and payment of beneficiaries under the retirement system is governed solely by the provisions of this chapter. No other provisions of law apply. History: En. Sec. 19, Ch. 276, L. 2019.
19-20-1101. Withholding of group insurance premium from retirement allowance
19-20-1101. Withholding of group insurance premium from retirement allowance. (1) A retired member who is a participant in an approved employer-sponsored group insurance plan may elect to have the monthly premium for the group insurance withheld from the member’s retirement allowance by the retirement system. Premiums withheld must be paid directly to the sponsoring employer. (2) Upon […]
19-20-1201. Definitions
19-20-1201. Definitions. As used in this part, the following definitions apply: (1) ”Amount owed” means the total amount of overpaid benefits or unpaid contributions plus accrued interest as provided in 19-20-1206 and costs and fees awarded as provided in 19-20-1214. (2) ”Benefit recipient” means a benefit recipient as defined in 19-20-101, an alternate payee, or any other person […]
19-20-1202. Correction of errors
19-20-1202. Correction of errors. The retirement system shall correct errors and, as far as practicable, shall: (1) in the case of underpaid benefits, adjust future benefit payments so the actuarial equivalent of the benefit to which the member or benefit recipient is correctly entitled will be paid; (2) in the case of overpaid contributions, refund the excess contributions; […]
19-20-1203. Recovery of unpaid employer contributions
19-20-1203. Recovery of unpaid employer contributions. An amount owed for unpaid employer contributions must be paid to the retirement system by the employer and is not subject to reduction for any reason. History: En. Sec. 3, Ch. 210, L. 2015.
19-20-1204. Recovery of unpaid employee contributions
19-20-1204. Recovery of unpaid employee contributions. (1) An amount owed for unpaid employee contributions must be paid to the retirement system by the employer if, at the time the contributions were due, the employer was legally required to pick up and remit the contributions to the retirement system on behalf of the member pursuant to 19-20-602(3)(a) […]
19-20-1007. Requirements for beneficiary designation to be effective
19-20-1007. Requirements for beneficiary designation to be effective. (1) To be accepted as an effective beneficiary designation, the beneficiary designation record must: (a) be made on a paper form or by an electronic process prescribed by the retirement system specifically for the designation of beneficiaries; (b) if submitted electronically, include the certified digital signature of the member or, […]
19-20-1008. Changes to beneficiary designations — limitations on changing spouse beneficiary interest
19-20-1008. Changes to beneficiary designations — limitations on changing spouse beneficiary interest. (1) Once accepted by the retirement system, a beneficiary designation may be changed only by the member submitting to the retirement system a new effective beneficiary designation record. No other action, process, or provision of law may invalidate, revoke, terminate, or otherwise modify the […]