19-3-503. Application to purchase military service. (1) (a) Except as provided in subsection (1)(b) and subject to 19-3-514, a member with at least 5 years of membership service may, at any time prior to retirement, file a written application with the board to purchase service credit and membership service for up to 5 years of the member's active service in the armed forces of the United States, including the first special service force or the American merchant marine in oceangoing service during the period of armed conflict, December 7, 1941, to August 15, 1945.
(b) A member is not eligible to purchase active military service credit and membership service under subsection (1)(a) if the member is eligible to receive credit in the system for that service under 19-2-707.
(2) (a) Except as provided in subsection (2)(b) and subject to 19-3-514, a member with at least 5 years of membership service may, at any time prior to retirement, file a written application with the board to purchase service credit and membership service for up to 5 years of the member's reserve military service in the armed forces of the United States.
(b) A member is not eligible to purchase reserve military service credit and membership service under subsection (2)(a) if the member is eligible to receive credit in the system for that service under 19-2-707.
(3) To purchase service credit and membership service under this section, the member shall pay the actuarial cost of the member's active or reserve military service credit based on the system's most recent actuarial valuation.
History: En. 68-1605.1 by Sec. 10, Ch. 323, L. 1973; amd. Sec. 2, Ch. 128, L. 1975; R.C.M. 1947, 68-1605.1; amd. Sec. 5, Ch. 609, L. 1989; amd. Sec. 56, Ch. 265, L. 1993; amd. Sec. 10, Ch. 287, L. 1997; amd. Sec. 21, Ch. 58, L. 1999; amd. Sec. 1, Ch. 494, L. 1999; amd. Sec. 21, Ch. 99, L. 2001; amd. Sec. 1, Ch. 26, L. 2003; amd. Sec. 1, Ch. 289, L. 2003; amd. Secs. 22, 122(1), Ch. 429, L. 2003; amd. Sec. 4, Ch. 172, L. 2021.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 3. Public Employees' Retirement System
19-3-501. Absence not included in service
19-3-503. Application to purchase military service
19-3-504. Absence due to illness or injury
19-3-505. Purchase of previous employment with employer
19-3-510. Employment in United States government
19-3-512. Purchase of service credit from other public retirement systems
19-3-513. Application to purchase additional service
19-3-514. Service purchase limit -- exception
19-3-515. Purchase of federal volunteer service
19-3-516. through 19-3-519 reserved
19-3-521. Service credit for legislative members
19-3-522. Nonapplication of part to defined contribution plan