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Rule Title: DEFINITIONS
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Department: ADMINISTRATION
Chapter: PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter: Highway Patrol Officers' Retirement System
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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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.


 

 
MAR Notices Effective From Effective To History Notes
2-43-535 12/25/2015 Current History: 19-2-403, 19-6-1003, MCA; IMP, 19-6-1005, MCA; NEW, 2015 MAR p. 2244, Eff. 12/25/15.
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