19-6-1008. Distribution of DROP benefit, MCA
  1. MCA Contents
  2. TITLE 19
  3. CHAPTER 6
  4. Part 10
  5. 19-6-1008 Distribution of DROP benefit

Montana Code Annotated 2017

TITLE 19. PUBLIC RETIREMENT SYSTEMS

CHAPTER 6. HIGHWAY PATROL OFFICERS' RETIREMENT

Part 10. Deferred Retirement Option Plan (DROP)

Distribution Of Drop Benefit

19-6-1008. (Temporary) Distribution of DROP benefit. (1) Upon termination of service, a participant is entitled to:

(a) receive a lump-sum distribution of the participant's DROP benefit;

(b) roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or

(c) any other distribution or method of payment of the DROP benefit approved by the board.

(2) A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code. (Void on occurrence of contingency--sec. 10, Ch. 258, L. 2015--see part compiler's comment.)

History: En. Sec. 8, Ch. 258, L. 2015.