ARM 2.44.301A. DEFINITIONS

For the purpose of this chapter, the following definitions apply: (1) "Alternate payee" means an alternate payee as defined in 19-20-305, MCA. (2) "Board" or "retirement board" means the Teachers' Retirement Board as provided for in 2-15-1010, MCA. (3) “Creditable service” is that service defined by 19-20-401, MCA. (4) "Direct rollover" means a distribution made by the Teachers' Retirement System directly to an eligible retirement plan specified by the participant. (5) "Eligible retirement plan" means any of the following that accepts a participant's eligible rollover distribution: (a) an individual retirement account described in Internal Revenue Code (IRC) section 408(a); (b) an individual retirement annuity described in IRC section 408(b); (c) an annuity plan described in IRC section 403(a); (d) a qualified trust described in section 401(a); (e) effective January 1, 2002, an annuity contract described in IRC section 403(b); (f) effective January 1, 2002, a plan eligible under IRC section 457(b) that is maintained by a state, political subdivision of a state, or any agency or instrumentality of a state or a political subdivision of a state that agrees to separately account for amounts transferred into that plan from a plan under this chapter; or (g) effective January 1, 2008, a Roth Individual Retirement Account (IRA) described in IRC section 408A. (6) "Family law order (FLO)" means a family law order as defined in 19-20-305, MCA. (7) "Nonqualified service credit" means permissive service credit other than for services as defined in IRC section 415(n)(3)(C). (8) "Participant" means a person who is eligible to receive a distribution from the Teachers' Retirement System and to make a direct rollover of the distribution to another eligible plan, including: (a) a member or retired member; (b) a member's or retired member's surviving spouse; (c) a member's or retired member's spouse or former spouse who is the alternate payee under a FLO that qualifies as a domestic relations order as defined in IRC section 414(p); and (d) effective January 1, 2007, a nonspouse who is a designated beneficiary as defined in IRC section 401(a)(9)(E). (9) "School term or school year" means the fiscal year July 1 through June 30. (10) “TRS” or “retirement system” means the Teachers’ Retirement System of the state of Montana as provided for in 19-20-102, MCA.