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Rule: 2.43.3540 Prev     Up     Next    
Rule Title: DISABILITY BENEFITS FOR MEMBERS OF THE DEFINED CONTRIBUTION RETIREMENT PLAN
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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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2.43.3540    DISABILITY BENEFITS FOR MEMBERS OF THE DEFINED CONTRIBUTION RETIREMENT PLAN

(1) Members of the Defined Contribution Retirement Plan (DCRP) who are found by the board to be disabled are entitled to a disability benefit pursuant to 19-3-2141, MCA.

(2) The disability benefit awarded a member of the DCRP is calculated based on the member's years of service credit, not years of membership service. The applied factor is based on membership service and the member's initial hire date, pursuant to 19-3-2141, MCA.

(3) The disability benefit awarded a member of the DCRP is not a retirement benefit, but a benefit paid from the long-term disability trust fund established pursuant to 19-3-2141, MCA.

(4) The disability benefit awarded a member of the DCRP is not subject to option 2, option 3 or option 4 contained in 19-3-1501, MCA.

(5) The disability benefit paid to a member of the DCRP is not subject to distribution pursuant to a family law order or a qualified domestic relations order.

(6) Disability benefits paid from the long-term disability trust fund will be tax-reported to the receiving participant and the IRS on the appropriate IRS form.

History: 19-3-2104, 19-3-2141, MCA; IMP, 19-3-2141, MCA; NEW, 2002 MAR p. 1884, Eff. 7/12/02; AMD, 2003 MAR p. 1800, Eff. 8/15/03; TRANS, from ARM 2.43.1040, 2008 MAR p. 2467, Eff. 12/1/08; AMD, 2011 MAR p. 1678, Eff. 8/26/11.


 

 
MAR Notices Effective From Effective To History Notes
2-43-455 8/26/2011 Current History: 19-3-2104, 19-3-2141, MCA; IMP, 19-3-2141, MCA; NEW, 2002 MAR p. 1884, Eff. 7/12/02; AMD, 2003 MAR p. 1800, Eff. 8/15/03; TRANS, from ARM 2.43.1040, 2008 MAR p. 2467, Eff. 12/1/08; AMD, 2011 MAR p. 1678, Eff. 8/26/11.
2-43-403 12/1/2008 8/26/2011 History: 19-3-2104, 19-3-2141, MCA; IMP, 19-3-2141, MCA; NEW, 2002 MAR p. 1884, Eff. 7/12/02; AMD, 2003 MAR p. 1800, Eff. 8/15/03; TRANS, from ARM 2.43.1040, 2008 MAR p. 2467, Eff. 12/1/08.
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