Montana Code Annotated
Part 10. Deferred Retirement Option Plan (DROP)
19-6-1008. Distribution of DROP benefit

19-6-1008. Distribution of DROP benefit. (1) Upon termination of service, a participant is entitled to:
(a) receive a lump-sum distribution of the participant's DROP benefit;
(b) roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or
(c) any other distribution or method of payment of the DROP benefit approved by the board.
(2) A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code.
History: En. Sec. 8, Ch. 258, L. 2015.

Structure Montana Code Annotated