Montana § 19-9-1202 Definitions

Montana Statutes

§ 19-9-1202 — Definitions

Montana § 19-9-1202

Title 19PUBLIC RETIREMENT SYSTEMS

Ch. 9POLICE RETIREMENT -- STATEWIDE PLAN

Part 12Deferred Retirement Option Plan (DROP)

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Bluebook

Mont. Code Ann. § 19-9-1202 (2026).

Text

19-9-1202 . Definitions. Unless the context requires otherwise, as used in this part, the following definitions apply:

(1)"DROP" means the deferred retirement option plan established pursuant to this part.

(2)"DROP account" means the member's accumulated monthly DROP accruals, including any postretirement adjustments, plus interest.

(3)"DROP benefit" means the lump-sum benefit calculated and distributed as provided in this part.

(4)"DROP period" means the period of time that a member irrevocably elects to participate in the DROP pursuant to 19-9-1204 .

(5)"Monthly DROP accrual" means the amount equal to the monthly benefit that would have been payable to the participant had the participant terminated service and retired.

(6)"Participant" means a member of the retirement system who ha

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19-9-1202 . Definitions. Unless the context requires otherwise, as used in this part, the following definitions apply:
(1) "DROP" means the deferred retirement option plan established pursuant to this part.
(2) "DROP account" means the member's accumulated monthly DROP accruals, including any postretirement adjustments, plus interest.
(3) "DROP benefit" means the lump-sum benefit calculated and distributed as provided in this part.
(4) "DROP period" means the period of time that a member irrevocably elects to participate in the DROP pursuant to 19-9-1204 .
(5) "Monthly DROP accrual" means the amount equal to the monthly benefit that would have been payable to the participant had the participant terminated service and retired.
(6) "Participant" means a member of the retirement system who has elected to participate in the DROP pursuant to this part.