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Rule Title: DROP PERIOD
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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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2.43.4010    DROP PERIOD

(1) The DROP period must begin on the first day of a month, must be prospective, and must end on the last day of a month. The DROP period will end as specified on the application, upon termination, or upon the participant's death, whichever occurs first.

(2) If the participant terminates or dies during the DROP period, the DROP period will end on the last day of the last full month of active service.

(3) A participant may not receive a retirement benefit or the monthly benefit portion of the DROP accrual for the month in which they terminate or die.

History: 19-2-403, 19-6-1003, MCA; IMP, 19-6-1003, 19-6-1004, 19-6-1006, 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, 19-6-1003, 19-6-1004, 19-6-1006, MCA; NEW, 2015 MAR p. 2244, Eff. 12/25/15.
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