19-20-503. Forfeiture of unclaimed account balances or benefits. (1) A benefit or refund of the member's account balance must be claimed within 5 years after the date of the member's death.
(2) If the benefit or refund is not claimed within the time provided in subsection (1), the member's account balance is forfeited and reverts to the pension trust fund.
History: En. 75-6206 by Sec. 101, Ch. 5, L. 1971; amd. Sec. 2, Ch. 507, L. 1973; amd. Sec. 98, Ch. 326, L. 1974; amd. Sec. 3, Ch. 127, L. 1977; amd. Sec. 3, Ch. 331, L. 1977; R.C.M. 1947, 75-6206(6); Sec. 19-4-503, MCA 1991; redes. 19-20-503 by Code Commissioner, 1993; amd. Sec. 11, Ch. 442, L. 1997; amd. Sec. 9, Ch. 90, L. 2007; amd. Sec. 4, Ch. 276, L. 2019.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 20. Teachers' Retirement
19-20-501. Financial administration of money
19-20-502. Restrictions on use of money
19-20-503. Forfeiture of unclaimed account balances or benefits
19-20-504. Vesting of retirement allowances upon termination of system
19-20-505. through 19-20-509 reserved
19-20-510. Probate and nonprobate transfer statutes superseded