Montana Statutes
§ 19-13-405 — Application To Purchase Additional Service
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 13 FIREFIGHTERS' UNIFIED RETIREMENT SYSTEM·Part 4 Service Credit
19-13-405 . Application to purchase additional service.
(1)Subject to 19-13-406 , a member with at least 5 years of membership service may, at any time before retirement, file a written application with the board to purchase 1 year of additional service credit for each 5 years of membership service.
(2)To purchase service credit under this section, a member shall pay the actuarial cost of the service credit, based on the system's most recent actuarial valuation as determined by the board.
(3)Service credit purchased under this section is not membership service and may not be used to qualify a member for retirement or in the calculation of an actuarial reduction in benefits for a member who is not eligible for service retirement.
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Legislative History
En. Sec. 5, Ch. 180, L. 1995; amd. Sec. 42, Ch. 58, L. 1999; amd. Sec. 112, Ch. 99, L. 2001; amd. Sec. 108, Ch. 429, L. 2003.
Nearby Sections
15
§ 19-13-1001
Repealed§ 19-13-1002
Repealed§ 19-13-1003
Repealed§ 19-13-1004
Repealed§ 19-13-1005
Repealed§ 19-13-1006
Repealed§ 19-13-1007
Minimum Benefit Adjustment§ 19-13-1008
Repealed§ 19-13-1009
Repealed§ 19-13-101
Short Title§ 19-13-1010
Guaranteed Annual Benefit Adjustment§ 19-13-1011
Election -- Guaranteed Annual Benefit Adjustment§ 19-13-102
Purpose -- Application Of Prior Law§ 19-13-104
Definitions