2.43.4609 DROP APPLICATION PROCESS
(1) Eligible members who wish to participate in the DROP must file a DROP information request with MPERA.
(2) The information request must include the member's:
(a) full name;
(b) social security number;
(c) mailing address;
(d) date of birth; and
(e) anticipated date to start the DROP period.
(3) MPERA will calculate estimates of monthly DROP accruals and the DROP benefit. The estimates and a DROP application will be sent to the member.
(4) An eligible member who wishes to participate must complete the DROP application and return it to MPERA. MPERA must receive the completed application at least two weeks before the first day of the month the member wants the DROP period to be effective; otherwise MPERA will notify the member that the DROP period will be effective the following month. If a birth certificate or other acceptable proof of age is required by the application, it must accompany the application for the application to be complete.
(5) Once the application is filed with MPERA, the election to participate in the DROP is irrevocable.
History: 19-2-403, 19-3-1203, MCA; IMP, 19-3-1203, 19-9-1204, MCA; NEW, 2002 MAR p. 1891, Eff. 7/12/02; AMD, 2003 MAR p. 1800, Eff. 8/15/03; AMD & TRANS, from ARM 2.43.1104, 2008 MAR p. 2467, Eff. 12/1/08.