Montana § 19-20-504 Vesting Of Retirement Allowances Upon Termination Of System

Montana Statutes

§ 19-20-504 — Vesting Of Retirement Allowances Upon Termination Of System

Montana § 19-20-504

Title 19PUBLIC RETIREMENT SYSTEMS

Ch. 20TEACHERS' RETIREMENT

Part 5Management of Funds

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Bluebook

Mont. Code Ann. § 19-20-504 (2026).

Text

19-20-504 . Vesting of retirement allowances upon termination of system. Upon termination of the retirement system, termination of employment of a substantial number of members which would constitute a partial termination of the retirement system, or complete discontinuance of contributions to the retirement system, the retirement allowance accrued to each member directly affected by such occurrence becomes fully vested and nonforfeitable to the extent funded.

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19-20-504 . Vesting of retirement allowances upon termination of system. Upon termination of the retirement system, termination of employment of a substantial number of members which would constitute a partial termination of the retirement system, or complete discontinuance of contributions to the retirement system, the retirement allowance accrued to each member directly affected by such occurrence becomes fully vested and nonforfeitable to the extent funded.

Legislative History

En. 75-6206 by Sec. 101, Ch. 5, L. 1971; amd. Sec. 2, Ch. 507, L. 1973; amd. Sec. 98, Ch. 326, L. 1974; amd. Sec. 3, Ch. 127, L. 1977; amd. Sec. 3, Ch. 331, L. 1977; R.C.M. 1947, 75-6206(9); Sec. 19-4-504 , MCA 1991; redes. 19-20-504 by Code Commissioner, 1993.