Montana § 19-3-2115 Transfers Or Rollovers Into Plan -- Service Transfers -- Membership Credit For Purposes Of Vesting

Montana Statutes

§ 19-3-2115 — Transfers Or Rollovers Into Plan -- Service Transfers -- Membership Credit For Purposes Of Vesting

Montana § 19-3-2115

Title 19PUBLIC RETIREMENT SYSTEMS

Ch. 3PUBLIC EMPLOYEES' RETIREMENT SYSTEM

Part 21Defined Contribution Plan

This text of Montana § 19-3-2115 (Transfers Or Rollovers Into Plan -- Service Transfers -- Membership Credit For Purposes Of Vesting) 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. § 19-3-2115 (2026).

Text

19-3-2115 . Transfers or rollovers into plan -- service transfers -- membership credit for purposes of vesting.

(1)(a) Except as provided in subsection (2), the board shall accept the rollover of contributions and the income on those contributions from another eligible retirement plan to the member's vested account as allowed under applicable federal law.

(b)To transfer service credit from another retirement system in this title, an employee must be a member of the defined benefit plan. The member must receive membership service and service credit for the service the member transfers. The transferring member may, within 12 months after joining the defined benefit plan, elect to become a member of the defined contribution plan. The transferred service credit may be used for purposes of ve

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19-3-2115 . Transfers or rollovers into plan -- service transfers -- membership credit for purposes of vesting. (1) (a) Except as provided in subsection (2), the board shall accept the rollover of contributions and the income on those contributions from another eligible retirement plan to the member's vested account as allowed under applicable federal law.
(b) To transfer service credit from another retirement system in this title, an employee must be a member of the defined benefit plan. The member must receive membership service and service credit for the service the member transfers. The transferring member may, within 12 months after joining the defined benefit plan, elect to become a member of the defined contribution plan. The transferred service credit may be used for purposes of vesting in the defined contribution plan pursuant to 19-3-2116 .
(2) The board shall accept a direct rollover of eligible distributions from another eligible retirement plan only to the extent permitted by the Internal Revenue Code.