HOME    SEARCH    ABOUT US    CONTACT US    HELP   
           
Rule: 2.44.506 Prev     Up     Next    
Rule Title: BENEFIT PAYMENTS
Add to My Favorites
Add to Favorites
Department: ADMINISTRATION, DEPARTMENT OF
Chapter: TEACHERS' RETIREMENT BOARD
Subchapter: Benefits
 
Latest version of the adopted rule presented in Administrative Rules of Montana (ARM):

Printer Friendly Version

2.44.506    BENEFIT PAYMENTS

(1) The first benefit will be payable the last day of the month in which the benefit began and future benefits will be payable the last day of each succeeding month.

(2) Monthly benefits will be paid based upon information provided by the member and estimates prepared by the teachers' retirement system until final salary information and contributions are received.   Adjustments will be retroactive to the retirement effective date.

(3) At the time application for retirement benefits is made, each applicant must submit a copy of their final year's contract, any previous contract(s) as may be requested and a copy of their letter of resignation if one was submitted to their employer.   If a member does not have a written contract, a statement from their employer verifying their daily or hourly rate of pay, their full time equivalent and the number of days they were employed in the fiscal year will be accepted.

(4) Monthly benefits will be prorated to the date of death of the retiree or beneficiary.

History: Sec. 19-4-201, 19-20-201 MCA; IMP, Sec. 19-4-703, 19-20-703 and 19-20-716 MCA; Eff. 12/31/72; AMD, 1987 MAR p. 2233, Eff. 12/11/87; AMD, 1989 MAR p. 1276, Eff. 9/1/89; AMD, 1993 MAR p. 493, Eff. 6/11/93; AMD, 1999 MAR p. 2243, Eff. 10/8/99.


 

 
MAR Notices Effective From Effective To History Notes
10/8/1999 Current History: Sec. 19-4-201, 19-20-201 MCA; IMP, Sec. 19-4-703, 19-20-703 and 19-20-716 MCA; Eff. 12/31/72; AMD, 1987 MAR p. 2233, Eff. 12/11/87; AMD, 1989 MAR p. 1276, Eff. 9/1/89; AMD, 1993 MAR p. 493, Eff. 6/11/93; AMD, 1999 MAR p. 2243, Eff. 10/8/99.
Home  |   Search  |   About Us  |   Contact Us  |   Help  |   Disclaimer  |   Privacy & Security