Montana § 19-20-802 Early Retirement

Montana Statutes

§ 19-20-802 — Early Retirement

Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 20 TEACHERS' RETIREMENT·Part 8 Superannuation Retirement

19-20-802 . Early retirement.

(1)(a) A vested tier one member who is not eligible for service retirement but has attained the age of 50 is eligible for an early retirement allowance.

(b)A vested tier two member who is not eligible for service retirement but has attained the age of 55 is eligible for an early retirement allowance.

(2)A member retiring early under subsection (1) must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.

(3)The early retirement allowance must be determined as prescribed in 19-20-804 , with the exception that the allowance will be reduced using actuarially equivalent factors based on the most recent actuarial valuation of the system.

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19-20-802 . Early retirement. (1) (a) A vested tier one member who is not eligible for service retirement but has attained the age of 50 is eligible for an early retirement allowance.
(b) A vested tier two member who is not eligible for service retirement but has attained the age of 55 is eligible for an early retirement allowance.
(2) A member retiring early under subsection (1) must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.
(3) The early retirement allowance must be determined as prescribed in 19-20-804 , with the exception that the allowance will be reduced using actuarially equivalent factors based on the most recent actuarial valuation of the system.

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Legislative History

En. 75-6208 by Sec. 103, Ch. 5, L. 1971; amd. Sec. 2, Ch. 57, L. 1971; amd. Sec. 2, Ch. 422, L. 1971; amd. Sec. 4, Ch. 507, L. 1973; amd. Sec. 3, Ch. 26, L. 1975; amd. Sec. 5, Ch. 127, L. 1977; amd. Sec. 5, Ch. 331, L. 1977; amd. Sec. 1, Ch. 443, L. 1977; R.C.M. 1947, 75-6208(3)(d); amd. Sec. 1, Ch. 396, L. 1981; amd. Sec. 7, Ch. 549, L. 1981; amd. Sec. 4, Ch. 527, L. 1983; Sec. 19-4-802 , MCA 1991; redes. 19-20-802 by Code Commissioner, 1993; amd. Sec. 21, Ch. 111, L. 1999; amd. Sec. 12, Ch. 320, L. 2005; amd. Sec. 11, Ch. 151, L. 2011; amd. Sec. 14, Ch. 389, L. 2013; amd. Sec. 26, Ch. 210, L. 2015.