19-20-720. Minimum monthly benefit allowance. - Montana Statutes

     19-20-720. Minimum monthly benefit allowance. (1) A retired member of the retirement system who on July 1, 2001, is receiving a service or disability retirement allowance that is less than $600 is eligible to receive a minimum monthly benefit allowance of $600 if the member at the time of retirement had 25 years or more of creditable service.
     (2) A beneficiary or beneficiaries of a deceased retired member who on July 1, 2001, are receiving an optional service, disability, or survivorship allowance that when added together are less than $600 are eligible to receive a proportional share of a minimum monthly benefit allowance of $600 if the retired member at the time of retirement had 25 years or more of creditable service.
     (3) If on July 1, 2001, multiple beneficiaries are receiving benefits under a retired member's account, the minimum monthly benefit must be divided in the same proportion as was the initial service, disability, or survivorship allowance.

     History: En. Sec. 5, Ch. 360, L. 1999; amd. Sec. 19, Ch. 149, L. 2001; Sec. 19-20-622, MCA 1999; redes. 19-20-720 by Sec. 83, Ch. 7, L. 2001.