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This is an obsolete version of the rule. Please click on the rule number to view the current version.

2.43.3505    ESTABLISHMENT OF LONG-TERM DISABILITY TRUST FUND

(1) The board shall establish a Long-Term Disability Trust Fund to be used exclusively for the payment of disability benefits to participants of the Defined Contribution Retirement Plan (DCRP).

(2) The Long-Term Disability Trust Fund must be separate and distinct from the Defined Benefit Plan Trust Fund and the DCRP.

(3) The Long-Term Disability Trust Fund must be funded by the statutorily determined percentage of the employers' contributions made for employees who are active DCRP participants.

(4) Funds in the Long-Term Disability Trust Fund will be invested pursuant to Article VIII, section 13, of the Constitution and Title 17, chapter 6, part 2, MCA. No funds will be invested in equities.

History: 19-3-2104, 19-3-2141, MCA; IMP, 19-3-2117, 19-3-2141, MCA; NEW, 2002 MAR p. 1884, Eff. 7/12/02; TRANS, from ARM 2.43.1005, 2008 MAR p. 2467, Eff. 12/1/08.

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