Montana Code 19-13-903. Payments to designated beneficiary
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19-13-903. Payments to designated beneficiary. If, after a member dies, a benefit is not paid pursuant to 19-13-704, 19-13-803, or 19-13-902, then the board shall pay to the member’s designated beneficiary the amount, if any, of the retired member’s accumulated contributions minus the total of any benefits already paid from the member’s account.
Terms Used In Montana Code 19-13-903
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC