2.43.4624 : MINIMUM BENEFIT FOR DROP PARTICIPANTS - Administrative Rules of the State of Montana

2.43.4624 MINIMUM BENEFIT FOR DROP PARTICIPANTS

(1) This rule applies to participants eligible for the minimum benefit adjustment under 19-9-1007, MCA.

(2) The monthly DROP accrual paid during the DROP period may not be less than the minimum benefit.

(3) Participants who continue employment after the DROP period may not receive minimum benefit increases during the period of post-DROP employment.

(4) The total retirement benefit paid to a participant after termination may not be less than the minimum benefit.

History: 19-2-403, 19-9-1203, MCA; IMP, 19-9-1205, 19-9-1207, 19-9-1208, MCA; NEW, 2002 MAR p. 1891, Eff. 7/12/02; TRANS, from ARM 2.43.1119, 2008 MAR p. 2467, Eff. 12/1/08.

MAR Notices

Effective From

Effective To

History Notes

2-43-403

12/1/2008

Current

History: 19-2-403, 19-9-1203, MCA; IMP, 19-9-1205, 19-9-1207, 19-9-1208, MCA; NEW, 2002 MAR p. 1891, Eff. 7/12/02; TRANS, from ARM 2.43.1119, 2008 MAR p. 2467, Eff. 12/1/08.