Montana § 19-6-1008 Distribution Of Drop Benefit

Montana Statutes

§ 19-6-1008 — Distribution Of Drop Benefit

Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 6 HIGHWAY PATROL OFFICERS' RETIREMENT·Part 10 Deferred Retirement Option Plan (DROP)

19-6-1008 . Distribution of DROP benefit.

(1)Upon termination of service, a participant is entitled to:

(a)receive a lump-sum distribution of the participant's DROP benefit;

(b)roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or

(c)any other distribution or method of payment of the DROP benefit approved by the board.

(2)A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code.

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19-6-1008 . Distribution of DROP benefit. (1) Upon termination of service, a participant is entitled to:
(a) receive a lump-sum distribution of the participant's DROP benefit;
(b) roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or
(c) any other distribution or method of payment of the DROP benefit approved by the board.
(2) A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code.

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