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Montana Title 19. Public Retirement Systems § 19-5-101. Definitions

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

Unless a different meaning is plainly implied by the context, the following definitions apply in this chapter:

(1)(a) “Compensation” means remuneration, as defined in 2-16-403, 3-5-211, and 3-7-222, paid to a member.

(b) Compensation does not include bonuses provided after July 1, 2013, that are one-time, temporary payments in addition to and not considered part of base pay.

(2) “Current salary” means the current compensation for the office retired from.

(3)(a) “Highest average compensation” means a member's highest average monthly compensation during any 36 consecutive months of membership service.

(b) Excess earnings limits must be applied to the calculation of the highest average compensation pursuant to 19-2-1005(2).

(4) “Involuntary retirement” means a retirement not for cause and before retirement age.

(5) “Retired judge” means any judge or justice in receipt of a retirement benefit under this chapter.

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Cite this article: FindLaw.com - Montana Title 19. Public Retirement Systems § 19-5-101. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-19-public-retirement-systems/mt-st-19-5-101/

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