Mont. Code § 19-20-802

Current through the 2023 Regular Session
Section 19-20-802 - Early retirement
(1)
(a) A vested tier one member who is not eligible for service retirement but has attained the age of 50 is eligible for an early retirement allowance.
(b) A vested tier two member who is not eligible for service retirement but has attained the age of 55 is eligible for an early retirement allowance.
(2) A member retiring early under subsection (1) must have terminated employment in all positions reportable to the retirement system and must file a written application with the retirement board.
(3) The early retirement allowance must be determined as prescribed in 19-20-804, with the exception that the allowance will be reduced using actuarially equivalent factors based on the most recent actuarial valuation of the system.

§ 19-20-802, MCA

Amended by Laws 2015, Ch. 210, Sec. 26, eff. 7/1/2015.
Amended by Laws 2013, Ch. 389, Sec. 14, eff. 7/1/2013.
The amendment by Laws 2013, Ch. 366, Sec. 7, eff. 7/1/2013, became void with the passage of Laws 2013, Ch. 389.
En. 75-6208 by Sec. 103, Ch. 5, L. 1971; amd. Sec. 2, Ch. 57, L. 1971; amd. Sec. 2, Ch. 422, L. 1971; amd. Sec. 4, Ch. 507, L. 1973; amd. Sec. 3, Ch. 26, L. 1975; amd. Sec. 5, Ch. 127, L. 1977; amd. Sec. 5, Ch. 331, L. 1977; amd. Sec. 1, Ch. 443, L. 1977; R.C.M. 1947, 75-6208(3)(d); amd. Sec. 1, Ch. 396, L. 1981; amd. Sec. 7, Ch. 549, L. 1981; amd. Sec. 4, Ch. 527, L. 1983; Sec. 19-4-802, MCA 1991; redes. 19-20-802 by Code Commissioner, 1993; amd. Sec. 21, Ch. 111, L. 1999; amd. Sec. 12, Ch. 320, L. 2005; amd. Sec. 11, Ch. 151, L. 2011.