Montana § 19-3-2102 Defined Contribution Plan Established -- Assets To Be Held In Trust -- Contracted Services

Montana Statutes

§ 19-3-2102 — Defined Contribution Plan Established -- Assets To Be Held In Trust -- Contracted Services

Montana § 19-3-2102

Title 19PUBLIC RETIREMENT SYSTEMS

Ch. 3PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Part 21Defined Contribution Plan

This text of Montana § 19-3-2102 (Defined Contribution Plan Established -- Assets To Be Held In Trust -- Contracted Services) 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. § 19-3-2102 (2026).

Text

19-3-2102 . Defined contribution plan established -- assets to be held in trust -- contracted services.

(1)The board shall establish within the public employees' retirement system a defined contribution plan in accordance with the provisions of this part. The plan must be established as a pension plan for the exclusive benefit of members and their beneficiaries and as a "qualified governmental plan" pursuant to section 401(a) of the Internal Revenue Code and its implementing regulations. Retirement accounts must be established for each member of the defined contribution plan. Assets of the plan, including assets of the long-term disability plan pursuant to 19-3-2141 , must be held in trust. The plan is established in addition to any retirement, pension, deferred compensation, or other ben

Free access — add to your briefcase to read the full text and ask questions with AI

19-3-2102 . Defined contribution plan established -- assets to be held in trust -- contracted services. (1) The board shall establish within the public employees' retirement system a defined contribution plan in accordance with the provisions of this part. The plan must be established as a pension plan for the exclusive benefit of members and their beneficiaries and as a "qualified governmental plan" pursuant to section 401(a) of the Internal Revenue Code and its implementing regulations. Retirement accounts must be established for each member of the defined contribution plan. Assets of the plan, including assets of the long-term disability plan pursuant to 19-3-2141 , must be held in trust. The plan is established in addition to any retirement, pension, deferred compensation, or other benefit plan administered by the state or a political subdivision.
(2) The board may contract for plan administration and use a competitive bidding process when contracting for consulting, educational, investment, recordkeeping, or other services for the plan.