(1) Once a member's election to join either the PERS Defined Contribution Retirement Plan (DCRP) or the Montana University System Optional Retirement Program (MUS ORP) has been confirmed, the MPERA will transfer pre-July 1, 2002 contribution transfer amounts and July 1 and post-July 1 contribution amounts within the following timeframes:

(a) For elections received and confirmed prior to August 1, 2002:

(i) the pre-July 1, 2002 contribution transfer amount will be transferred to the participant's individual account in the DCRP or the MUS ORP no later than 30 working days after July 1, 2002 (August 13, 2002); and

(ii) the July contribution amount will be transferred to the individual account in the DCRP or the MUS ORP no later than 10 working days after the date the July payroll is received in good order.

(b) For elections received and confirmed after August 1, 2002, the pre-July 1, 2002 contribution transfer amount and the July 1 and post-July 1, 2002 ongoing contribution amount will be transferred to the participant's individual account in the DCRP or the MUS ORP no later than 15 working days after the MPERA confirms the election.