Montana Statutes
§ 19-8-904 — Application To Purchase Additional Service
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 8 GAME WARDENS' AND PEACE OFFICERS' RETIREMENT·Part 9 Service Credit
19-8-904 . Application to purchase additional service.
(1)Subject to 19-8-906 , a member with at least 5 years of membership service, may, at any time before retirement, file a written application with the board to purchase 1 year of additional service credit for each 5 years of membership service that the member has qualified in the retirement system.
(2)To purchase service credit under this section, a member shall pay the actuarial cost of the service credit, based on the system's most recent actuarial valuation as determined by the board.
(3)Service credit purchased under this section is not membership service and may not be used to qualify a member for retirement or in the calculation of an actuarial reduction in benefits for a member who is not eligible for service retirement.
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Legislative History
En. Sec. 3, Ch. 180, L. 1995; amd. Sec. 35, Ch. 58, L. 1999; amd. Sec. 97, Ch. 99, L. 2001; amd. Sec. 88, Ch. 429, L. 2003.
Nearby Sections
15
§ 19-8-1001
Benefits Upon Employment-Related Death§ 19-8-1002
Postretirement Death Payments§ 19-8-1003
Nonduty-Related Death Of Active Member§ 19-8-101
Definitions§ 19-8-103
Repealed§ 19-8-104
Repealed§ 19-8-105
Short Title§ 19-8-1101
Repealed§ 19-8-1102
Repealed§ 19-8-1103
Repealed§ 19-8-1104
Repealed§ 19-8-1105
Guaranteed Annual Benefit Adjustment§ 19-8-1106
Through 19-8-1109 Reserved