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Rule: 2.43.3533 Prev     Up     Next    
Rule Title: REALLOCATION OF CERTAIN PERS EMPLOYER CONTRIBUTIONS TO DCRP MEMBER ACCOUNTS
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Department: ADMINISTRATION
Chapter: PUBLIC EMPLOYEES' RETIREMENT BOARD
Subchapter: PERS - DCRP
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

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2.43.3533    REALLOCATION OF CERTAIN PERS EMPLOYER CONTRIBUTIONS TO DCRP MEMBER ACCOUNTS

(1) Pursuant to 19-3-2117, MCA, certain PERS employer contributions for employees participating in the PERS DCRP are allocated to the PERS DBRP to pay off the unfunded actuarial liability created by PERS members who elected to participate in the DCRP, otherwise known as the plan choice rate unfunded actuarial liability (PCR UAL).

(2) MPERA will reallocate those certain PERS employer contributions to each DCRP member's account starting with that member's first payday in the month following the board's verification that the PCR UAL has been fully paid off.

(3) The employer contributions will be credited to the DCRP member's account pursuant to the processes and time frames established in ARM 2.43.2114 and ARM 2.43.3532.

History: 19-2-403, 19-3-2104, MCA; IMP, 19-3-316, 19-3-2117; NEW, 2016 MAR p. 310, Eff. 2/20/16.


 

 
MAR Notices Effective From Effective To History Notes
2-43-536 2/20/2016 Current History: 19-2-403, 19-3-2104, MCA; IMP, 19-3-316, 19-3-2117; NEW, 2016 MAR p. 310, Eff. 2/20/16.
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