19-3-2104. Board powers and duties -- rulemaking. (1) The board has the powers and shall perform the duties regarding the defined contribution plan as provided in 19-2-403, as applicable. The board may also exercise the powers and shall perform the duties provided in this chapter.
     (2) The board shall, in accordance with the Montana Administrative Procedure Act, adopt rules necessary for the implementation of this part and other applicable sections in chapters 2 and 3 of this title, including rules concerning the following:
     (a) matters necessary for the treatment of the plan as a qualified plan under applicable sections of the Internal Revenue Code;
     (b) the treatment of dormant or inactive accounts;
     (c) the security and privacy of information maintained by the board concerning a member's investments, as required by applicable law;
     (d) minimum asset, reserve, insurance, or other security requirements intended to ensure the solvency of a contractor used by the board for investment services; and
     (e) the commencement of benefits in the plan pursuant to this part and as provided in 19-2-908.

     History: En. Sec. 45, Ch. 471, L. 1999.