19-20-710. Maximum benefit limitation. A monthly benefit paid under the retirement system provided for in this chapter may not exceed the annual limits on benefits as specified in section 415 of the Internal Revenue Code as adjusted for cost-of-living increases for calendar years 1988 and succeeding years. However, benefits in excess of those limits may be paid from a qualified governmental excess benefit arrangement subject to 19-20-212.
History: En. Sec. 1, Ch. 14, L. 1987; Sec. 19-4-710, MCA 1991; redes. 19-20-710 by Code Commissioner, 1993; amd. Sec. 17, Ch. 111, L. 1999; amd. Sec. 8, Ch. 174, L. 2003.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 20. Teachers' Retirement
19-20-702. Optional allowances -- joint and survivor annuity -- period certain
19-20-703. Payments to be monthly
19-20-706. Exemption from taxation and legal process
19-20-710. Maximum benefit limitation
19-20-715. Earned compensation -- limitations
19-20-718. Maximum contribution limitation
19-20-719. Guaranteed annual benefit adjustment -- rulemaking
19-20-722. Eligible rollover distributions
19-20-723. through 19-20-730 reserved
19-20-733. Resumption of employment by retired member -- suspension of benefits