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Montana Title 19. Public Retirement Systems § 19-20-802. Early retirement

Current as of January 01, 2024 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Montana Title 19. Public Retirement Systems § 19-20-802. Early retirement - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-19-public-retirement-systems/mt-st-19-20-802/

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