ARM 2.43.425

ARM 2.43.425. INCOMPLETE PAYMENTS

SupersededLast amended: 2002Length: 129 wordsOfficial source

Cite as Mont. Admin. R. 2.43.425

(1) The board will refund the additional contributions and interest to a non-vested member who terminates employment before completing a service purchase. The member will not receive any additional service credit. (2) If a member dies or retires with a disability before completing a service purchase, the member, or anyone acting on the member's behalf, may complete those payments. The payments must be completed before the board will pay any benefits. The board will prorate the member's service based on payments already made, if no further payments will be made. (3) A PERS member must either complete or terminate the member's purchase of service pursuant to ARM 2.43.1015 before MPERA will confirm the member's election to the defined contribution retirement plan or the Montana university system's optional retirement program.
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