Montana § 19-3-2103 Legislative Intent

Montana Statutes

§ 19-3-2103 — Legislative Intent

Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 3 PUBLIC EMPLOYEES' RETIREMENT SYSTEM·Part 21 Defined Contribution Plan

19-3-2103 . Legislative intent. It is the intent of the legislature that, in implementing and administering the defined contribution plan:

(1)changes to current administrative processes and the impact of those changes on employers be minimized to the extent possible;

(2)the administrative structure for the plan be configured in an economical and efficient manner;

(3)administration and services for the plan be contracted out to the extent possible, but that the board provide for the diligent oversight of the contracts;

(4)reasonable member services be provided for and that fees be commensurate with the services;

(5)lines of communication and responsibilities be clearly established so that employers or their personnel and payroll officers do not advise members about plan choices or inve

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19-3-2103 . Legislative intent. It is the intent of the legislature that, in implementing and administering the defined contribution plan:
(1) changes to current administrative processes and the impact of those changes on employers be minimized to the extent possible;
(2) the administrative structure for the plan be configured in an economical and efficient manner;
(3) administration and services for the plan be contracted out to the extent possible, but that the board provide for the diligent oversight of the contracts;
(4) reasonable member services be provided for and that fees be commensurate with the services;
(5) lines of communication and responsibilities be clearly established so that employers or their personnel and payroll officers do not advise members about plan choices or investment alternatives; and
(6) employers be encouraged to provide paid time for members to attend educational programs sponsored by the board pursuant to 19-3-112 .

Montana § 19-3-2103 (Legislative Intent) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.