19-8-1002. Postretirement death payments. If a member who retires on or after July 1, 1997, and who has not chosen an option 2, 3, or 4 retirement benefit under 19-8-801 dies before receiving an amount equal to the member's total amount of contributions and interest on account as that amount was at the time of the member's retirement, the balance must be paid to the member's designated beneficiary in a lump-sum payment.

     History: En. Sec. 18, Ch. 130, L. 1963; R.C.M. 1947, 68-1418; amd. Sec. 173, Ch. 265, L. 1993; Sec. 19-8-704, MCA 1991; redes. 19-8-1002 by Code Commissioner, 1993; amd. Sec. 25, Ch. 287, L. 1997.