HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 2.43.2115 Prev     Up     Next    
Rule Title: CORRECTION OF DEFINED BENEFIT RETIREMENT SYSTEM REPORTING ERRORS
Add to My Favorites
Add to Favorites
Department: ADMINISTRATION
Chapter: PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter: Membership Service and Service Credit
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

2.43.2115    CORRECTION OF DEFINED BENEFIT RETIREMENT SYSTEM REPORTING ERRORS

(1) Employers may correct reporting errors affecting defined benefit retirement system members on subsequent pay period reports via a letter of explanation. The explanation must include all salary and service documentation for the reported error and the affected time period.

(2) After MPERA verifies that an error has been made in the contributions paid and the service reported, MPERA shall:

(a) notify the reporting agency of any contributions and interest due;

(b) credit any excess employer and member contributions to the employer on MPERA's payroll records; and

(c) adjust the member's membership service and service credit to the correct amount.

(3) MPERA may waive interest if delinquent contributions are made within 60 days of the original due date.

(4) The board may reduce interest due on delinquent contributions if the reporting error was not timely identified by MPERA staff.

(5) Corrections reducing a defined benefit retirement system member's contribution cannot be accepted if the employee has received a refund.

(6) If the service related to the reporting error was initially reported to the wrong retirement system, MPERA shall:

(a) transfer the correct amount of employer and employee contributions from the original retirement system to the correct retirement system;

(b) credit the employer with any excess employer and employee contributions or collect from the employer and pay to the original retirement system any additional employer and employee contributions; and

(c) transfer the member's service credit and membership service to the correct retirement system.

(7) The employer must correct its payroll records and pay the refund to the DBRP participant.

History: 19-2-403, MCA; IMP, 19-2-403, 19-2-506, 19-2-903, MCA; NEW, 2008 MAR p. 2467, Eff. 12/1/08; AMD, 2011 MAR p. 1678, Eff. 8/26/11; AMD, 2013 MAR p. 2236, Eff. 11/28/13


 

 
MAR Notices Effective From Effective To History Notes
2-43-495 11/28/2013 Current History: 19-2-403, MCA; IMP, 19-2-403, 19-2-506, 19-2-903, MCA; NEW, 2008 MAR p. 2467, Eff. 12/1/08; AMD, 2011 MAR p. 1678, Eff. 8/26/11; AMD, 2013 MAR p. 2236, Eff. 11/28/13
2-43-455 8/26/2011 11/28/2013 History: 19-2-403, MCA; IMP, 19-2-506, 19-2-903, MCA; NEW, 2008 MAR p. 2467, Eff. 12/1/08; AMD, 2011 MAR p. 1678, Eff. 8/26/11.
2-43-403 12/1/2008 8/26/2011 History: 19-2-403, MCA; IMP, 19-2-506, 19-2-903, MCA; NEW, 2008 MAR p. 2467, Eff. 12/1/08.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security