2.43.4006    DEFINITIONS

(1) "DROP" means the HPORS deferred retirement option plan.

(2) "DROP account" means the accumulated amount of money that has accrued to a DROP participant, and interest.

(3) "Monthly DROP accrual" means the amount equal to the monthly benefit that would have been payable to the participant had the participant terminated and retired, plus the participant's member contributions for the month at the percentage provided in 19-6-402, MCA.   

History: 19-2-403, 19-6-1003, MCA; IMP, 19-6-1005, MCA; NEW, 2015 MAR p. 2244, Eff. 12/25/15.