Montana § 19-20-804 Allowance For Service Retirement -- Professional Retirement Option Allowance -- Creditable Service Limitation

Montana Statutes

§ 19-20-804 — Allowance For Service Retirement -- Professional Retirement Option Allowance -- Creditable Service Limitation

Montana § 19-20-804

Title 19PUBLIC RETIREMENT SYSTEMS

Ch. 20TEACHERS' RETIREMENT

Part 8Superannuation Retirement

This text of Montana § 19-20-804 (Allowance For Service Retirement -- Professional Retirement Option Allowance -- Creditable Service Limitation) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 19-20-804 (2026).

Text

19-20-804 . Allowance for service retirement -- professional retirement option allowance -- creditable service limitation.

(1)Upon termination, a tier one or tier two member who qualifies for benefits pursuant to 19-20-801 (1) or (2) must receive a retirement allowance equal to one-sixtieth of the member's average final compensation, as limited by 19-20-715 , multiplied by the sum of the number of years of creditable service.

(2)(a) Upon termination, a tier two member who qualifies for benefits pursuant to 19-20-801 (3) must receive a professional retirement option allowance equal to 1.85% of the member's final average compensation, as limited by 19-20-715 , multiplied by the sum of the member's years of creditable service.

(b)For the purpose of calculating the professional retirement o

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19-20-804 . Allowance for service retirement -- professional retirement option allowance -- creditable service limitation. (1) Upon termination, a tier one or tier two member who qualifies for benefits pursuant to 19-20-801 (1) or (2) must receive a retirement allowance equal to one-sixtieth of the member's average final compensation, as limited by 19-20-715 , multiplied by the sum of the number of years of creditable service.
(2) (a) Upon termination, a tier two member who qualifies for benefits pursuant to 19-20-801 (3) must receive a professional retirement option allowance equal to 1.85% of the member's final average compensation, as limited by 19-20-715 , multiplied by the sum of the member's years of creditable service.
(b) For the purpose of calculating the professional retirement option, creditable service does not include:
(i) service credited before the member became a tier two member even if the member redeposits the member's withdrawn contributions pursuant to 19-20-427 ; or
(ii) service credit transferred under 19-20-409 .

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(2)(d), (3)(a), (3)(b); amd. Sec. 6, Ch. 549, L. 1981; amd. Sec. 1, Ch. 443, L. 1983; amd. Sec. 8, Ch. 113, L. 1989; Sec. 19-4-804 , MCA 1991; redes. 19-20-804 by Code Commissioner, 1993; amd. Sec. 23, Ch. 442, L. 1997; amd. Sec. 22, Ch. 111, L. 1999; amd. Sec. 22, Ch. 45, L. 2001; amd. Sec. 2, Ch. 120, L. 2003; amd. Sec. 4, Ch. 402, L. 2003; amd. Sec. 13, Ch. 320, L. 2005; amd. Sec. 13, Ch. 282, L. 2009; amd. Sec. 15, Ch. 389, L. 2013.