19-2-1003. Transfer of dormant, nonvested member-accumulated contributions. The board may, in its discretion, transfer the accumulated contributions of a nonvested member of a defined benefit system or plan to the pension trust fund of the system or plan in which the member is participating if the member has not participated in the system or plan as an employee for a period of 10 years. Rights of the member may not be jeopardized by the transfer, and the accumulated contributions must be transferred to the member's name upon subsequent return to service or subsequent application for refund.
History: En. 68-1907 by Sec. 28, Ch. 323, L. 1973; R.C.M. 1947, 68-1907; amd. Sec. 37, Ch. 265, L. 1993; Sec. 19-3-604, MCA 1991; redes. 19-2-1003 by Sec. 238, Ch. 265, L. 1993; amd. Sec. 25, Ch. 471, L. 1999; amd. Sec. 8, Ch. 490, L. 2001.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 2. Public Employees' Retirement General Provisions
19-2-1001. Maximum contribution and benefit limitations
19-2-1002. Termination of plan
19-2-1003. Transfer of dormant, nonvested member-accumulated contributions
19-2-1004. Exemption from taxes and legal process
19-2-1007. Required distributions
19-2-1008. Budget Act superseded
19-2-1010. Retaining qualified plan status -- content of plan document -- board rulemaking authority
19-2-1011. Limitations on eligible rollover distributions
19-2-1013. Compliance with federal restrictions on interest rate crediting
19-2-1014. Compliance with federal laws regarding service in uniformed services
19-2-1015. Probate and nonprobate transfer statutes superseded