Montana Statutes
§ 19-20-604 — State Contributions -- Termination
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 20 TEACHERS' RETIREMENT·Part 6 Funds -- Contributions
19-20-604 . (Temporary) State contributions -- termination. The state shall contribute monthly from the general fund to the pension trust fund a sum equal to 0.11% of the compensation of members participating in the system on or after July 1, 1999. The contributions are statutorily appropriated, as provided in 17-7-502 , to the pension trust fund. The state contribution provided for in this section terminates when the amortization period for the system's unfunded liability is 10 years or less according to the system's latest actuarial valuation. The board shall certify amounts due under this section on a monthly basis. The state treasurer shall transfer the certified amounts to the pension trust fund within 1 week. (Terminates on occurrence of contingency--sec. 10, Ch. 360, L. 1999.)
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Legislative History
En. Sec. 2, Ch. 360, L. 1999.
Nearby Sections
15
§ 19-20-1002
Payments On Death Of Retiree§ 19-20-1003
Payment Of Death Benefits§ 19-20-1004
Compliance With Federal Act§ 19-20-1005
Alternate Beneficiaries§ 19-20-1008
Changes To Beneficiary Designations -- Limitations On Changing Spouse Beneficiary Interest§ 19-20-101
Definitions§ 19-20-1010
Through 19-20-1012 Reserved§ 19-20-1013
Supremacy Of Retirement System Provisions§ 19-20-102
Retirement System -- Policy§ 19-20-103
Implied Consent Of Employee§ 19-20-104
Guarantee By State