19-9-1205. Retirement system contributions -- benefit payments to individual DROP accounts -- investment returns. (1) During a member's participation in the DROP, state contributions under 19-9-702, employer contributions under 19-9-703, and member contributions under 19-9-710 must continue to be made to the retirement system.
(2) For each DROP participant, the board shall calculate a monthly DROP accrual and the contribution to the participant's DROP account.
History: En. Sec. 5, Ch. 514, L. 2001; amd. Sec. 101, Ch. 429, L. 2003; amd. Sec. 24, Ch. 128, L. 2007.
Structure Montana Code Annotated
Title 19. Public Retirement Systems
Chapter 9. Police Retirement -- Statewide Plan
Part 12. Deferred Retirement Option Plan (DROP)
19-9-1203. Deferred retirement option plan established -- compliance with federal law -- rulemaking
19-9-1204. Eligibility -- participation criteria -- membership status -- service interruptions
19-9-1206. Survivorship benefits