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2.43.2324    GUARANTEED ANNUAL BENEFIT ADJUSTMENT COVERAGE – PERS, SRS, AND GWPORS

(1) Members of PERS, SRS, and GWPORS who terminate covered employment, accept a refund of their accumulated contributions, and return to covered employment in the same system on or after July 1, 2007, will be eligible for a 1.5% GABA.

(2) Purchase of the refunded time does not affect the member's new hire date. The member will remain eligible for the 1.5% GABA, not the 3.0% GABA associated with the refunded time.

History: 19-2-403, MCA; IMP, 19-2-603, 19-3-1605, 19-7-711, 19-8-1105, MCA; NEW, 2008 MAR p. 2467, Eff. 12/1/08.

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