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

2.43.3004    FAMILY LAW ORDERS FOR THE PERS DEFINED CONTRIBUTION RETIREMENT PLAN

(1) This rule applies only to the PERS defined contribution retirement plan. 

(2) A "participant" may be a member or a "primary" or "contingent beneficiary."

(3) Disability benefits under the defined contribution plan may not be divided by a FLO.

(4) In the PERS defined contribution retirement plan, the payments to an alternate payee are allowed as follows:

(a) The FLO must state the amount or the proportion, or it must describe the method for calculating the amount or proportion.

(b) If the participant receives lump sum payments in addition to periodic payments, the FLO must specify a separate proportion or fixed amount to be applied to the lump sum payments. Otherwise the lump sum payments will not be divided.

(c) The fixed amount, the designated monthly dollar amount, the designated number of months and the proportion may not be changed by future conditions or events.

(d) Payments will end when:

(i) payments to the participant end;

(ii) the fixed amount is paid; or

(iii) the account is depleted.

History: 19-2-403, 19-2-907, MCA; IMP, 19-2-907, MCA; NEW, 2002 MAR p. 2182, Eff. 8/16/02; TRANS, from ARM 2.43.1702, 2009 MAR p. 78, Eff. 12/1/08.

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