Montana Code 19-3-2133. Employee investment advisory council
19-3-2133. Employee investment advisory council. (1) The board shall create an employee investment advisory council. The advisory council shall meet at least four times a year to:
Terms Used In Montana Code 19-3-2133
- Compensation: means remuneration paid out of funds controlled by an employer in payment for the member's services or for time during which the member is excused from work because of a holiday or because the member has taken compensatory leave, sick leave, annual leave, banked holiday time, or a leave of absence before any pretax deductions allowed by state or federal law are made. See Montana Code 19-3-108
- defined contribution plan: means the defined contribution retirement plan. See Montana Code 19-3-2101
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)advise the board concerning the operation of the defined contribution plan, including the selection of the initial investment alternatives to be provided pursuant to 19-3-2122;
(b)advise the board about negotiating, contracting, or modifying services for the state deferred compensation plan provided for in chapter 50; and
(c)review existing deferred compensation plans and to advise the board on the administration of the program.
(2)The advisory council is not subject to 2-15-122, except for payment of travel expenses.