Montana Code 19-20-701. Benefits
19-20-701. Benefits. (1) The retirement, disability, and other benefits of the retirement system must be granted on the basis of the provisions of this chapter. A member‘s written application for benefits must include a statement certifying that there has been a bona fide separation from service, including whether there are any intentions to be reemployed with the same employer that would be prohibited under the Internal Revenue Code.
Terms Used In Montana Code 19-20-701
- 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
- Employer: means :
(a)the state of Montana;
(b)a public school district, as provided in 20-6-101 and 20-6-701;
(c)the office of public instruction;
(d)the board of public education;
(e)an education cooperative;
(f)the Montana school for the deaf and blind, as described in 20-8-101;
(g)the Montana youth challenge program, as defined in 10-1-101;
(h)a correctional facility, as defined in 41-5-103;
(i)the Montana university system;
(j)a community college; or
(k)any other agency, political subdivision, or instrumentality of the state that employs a person who is designated a member of the retirement system pursuant to 19-20-302. See Montana Code 19-20-101
- Internal Revenue Code: has the meaning provided in 15-30-2101. See Montana Code 19-20-101
- Joint annuitant: means the one person that a retired member who has elected an optional allowance under 19-20-702(2), (4), or (5) has designated to receive a retirement allowance upon the death of the retired member. See Montana Code 19-20-101
- Member: means a person who has an individual account in the annuity savings account. See Montana Code 19-20-101
- retirement benefit: means a monthly payment due to a retired member who has qualified for service or disability retirement or due to a joint annuitant or beneficiary. See Montana Code 19-20-101
- Service: means the performance of duties that would entitle the person to active membership in the retirement system under the provisions of 19-20-302. See Montana Code 19-20-101
(2)If a member applies for a retirement benefit but dies before receiving the first monthly benefit allowance, benefits must be paid to the joint annuitant or beneficiary designated on the member’s written application for a retirement allowance in the manner provided in 19-20-1001. If the member’s written application did not include a designation of a joint annuitant or beneficiary, benefits must be paid to the beneficiary of record in the manner provided in 19-20-1001.