Montana Statutes
§ 19-2-503 — Management Of Pension Trust Funds
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 2 PUBLIC EMPLOYEES' RETIREMENT GENERAL PROVISIONS·Part 5 Management and Investment of Pension Trust Funds
19-2-503 . Management of pension trust funds. The pension trust funds must be managed as follows:
(1)The board is the trustee of all money collected for the retirement systems and has exclusive control of the administration of the pension trust funds except as otherwise provided by law.
(2)The department shall deposit in the state treasury all amounts received by the board as provided in this chapter.
(3)Except as provided in chapter 3, part 21, of this title, the state treasurer is custodian of the pension trust funds, subject to the exclusive control of the board for administration and the board of investments for the investment of the funds.
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Legislative History
En. 68-1901 by Sec. 22, Ch. 323, L. 1973; amd. Sec. 5, Ch. 99, L. 1977; amd. Sec. 3, Ch. 286, L. 1977; amd. Sec. 10, Ch. 332, L. 1977; R.C.M. 1947, 68-1901(1), (3), (4); amd. Sec. 13, Ch. 265, L. 1993; Sec. 19-3-601 , MCA 1991; redes. 19-2-503 by Sec. 238, Ch. 265, L. 1993; amd. Sec. 14, Ch. 471, L. 1999; amd. Sec. 10, Ch. 562, L. 1999.
Nearby Sections
15
§ 19-2-1001
Maximum Contribution And Benefit Limitations§ 19-2-1002
Termination Of Plan§ 19-2-1004
Exemption From Taxes And Legal Process§ 19-2-1005
Compensation Limit§ 19-2-1006
Use Of Forfeitures§ 19-2-1007
Required Distributions§ 19-2-1008
Budget Act Superseded§ 19-2-1009
Penalty For Fraud§ 19-2-101
Renumbered 19-50-101§ 19-2-1010
Retaining Qualified Plan Status -- Content Of Plan Document -- Board Rulemaking Authority§ 19-2-1012
Reserved