19-3-1203. Election of optional death annuity. The designated beneficiary of a deceased member may elect, by filing a written application with the board, to have the death payment provided for in 19-3-1202 paid in an actuarially equivalent form, subject to rules that the board may adopt. The annuity payments are not subject to increases that may be granted to other monthly retirement benefits.
History: En. 68-2303 by Sec. 44, Ch. 323, L. 1973; R.C.M. 1947, 68-2303; amd. Sec. 80, Ch. 265, L. 1993; amd. Sec. 40, Ch. 99, L. 2001; amd. Sec. 12, Ch. 128, L. 2007; amd. Sec. 24, Ch. 99, L. 2011.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 3. Public Employees' Retirement System
Part 12. Survivorship Benefits and Death Payments
19-3-1201. Eligibility for death payments
19-3-1202. Amount of death payment
19-3-1203. Election of optional death annuity
19-3-1204. Survivorship benefit elected by beneficiary
19-3-1205. Amount of survivorship benefit
19-3-1206. through 19-3-1209 reserved
19-3-1210. Death payments to designated beneficiaries of retired members
19-3-1211. Refund when former member dies after transferring to another system
19-3-1212. Nonapplication of part to defined contribution plan