Montana Statutes
§ 19-9-1203 — Deferred Retirement Option Plan Established -- Compliance With Federal Law -- Rulemaking
Montana·Title 19 PUBLIC RETIREMENT SYSTEMS·Ch. 9 POLICE RETIREMENT -- STATEWIDE PLAN·Part 12 Deferred Retirement Option Plan (DROP)
19-9-1203 . Deferred retirement option plan established -- compliance with federal law -- rulemaking.
(1)The board shall establish a DROP for eligible members of the retirement system who elect to participate.
(2)The board shall administer the DROP in compliance with the Internal Revenue Code and the applicable rules, regulations, and determinations of the internal revenue service.
(3)The board may adopt rules to administer this part.
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Legislative History
En. Sec. 3, Ch. 514, L. 2001.
Nearby Sections
15
§ 19-9-1001
Repealed§ 19-9-1002
Repealed§ 19-9-1003
Repealed§ 19-9-1004
Renumbered 19-2-906§ 19-9-1005
Repealed§ 19-9-1006
Repealed§ 19-9-1007
Minimum Benefit Adjustment§ 19-9-1008
Repealed§ 19-9-1009
Guaranteed Annual Benefit Adjustment§ 19-9-101
Short Title§ 19-9-1011
Repealed§ 19-9-1012
Repealed§ 19-9-1014
Through 19-9-1019 Reserved