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Current as of January 01, 2024 | Updated by Findlaw Staff
(1)(a) Subject to subsection (1)(b) and 19-6-805, a member may, at any time before retirement, file a written application with the board to purchase 1 year of out-of-state law enforcement employment for each year of service credit, unless the member is eligible to receive a retirement benefit in another system or plan for that same service.
(b) A member must have at least the following years of membership service to apply to purchase service credit under this section:
(i) for a member hired before July 1, 2013, 5 years; and
(ii) for a member hired on or after July 1, 2013, 10 years.
(2) To purchase this service credit, a member shall pay the actuarial cost of the service credit in the retirement system, as determined by the board, based on:
(a) the member's compensation for the 12 months immediately preceding the date of the member's election to purchase the service credit under the retirement system; and
(b) the actuarial rate in effect at the time of purchase of service credit.
(3) Service credit purchased under this section may not be used to qualify a member to purchase military service credit under 19-6-801.
(4) Service credit purchased under this section may not be used in calculating a member's retirement benefit unless the last 5 years of service credit were earned under the retirement system. If, upon retirement, a member's purchased service credit may not be used in calculating the member's retirement benefit, the member must receive a refund of the amount paid by the member to purchase the service credit, plus regular interest on that amount.
Cite this article: FindLaw.com - Montana Title 19. Public Retirement Systems § 19-6-803. Application to purchase law enforcement service performed in another state - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-19-public-retirement-systems/mt-st-19-6-803/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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