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HOUSE BILL NO. 383
INTRODUCED BY T. FACEY
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING A FULL SERVICE RETIREMENT BENEFIT REGARDLESS OF AGE FOR A MEMBER OF THE JUDGES' RETIREMENT SYSTEM WHO IS INVOLUNTARILY TERMINATED AFTER COMPLETING AT LEAST 12 YEARS OF SERVICE; AND AMENDING SECTION 19-5-503, MCA."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 19-5-503, MCA, is amended to read:
"19-5-503. Involuntary retirement benefit. (1) If a member is involuntarily discontinued from service after having
completed 5 years of membership service but before reaching retirement age, the member
shall must, upon filing an
application in the manner prescribed by the board, be paid an involuntary retirement benefit of equivalent actuarial value to
the service retirement benefit payable under 19-5-502 then standing to the member's credit, except as provided under
(2) If a member
elected or appointed to office prior to July 1, 1983, is involuntarily discontinued from service after
having earned at least 12 years of service credit but before reaching service retirement age, the member must, upon filing an
application in the manner prescribed by the board, be paid the service retirement benefit provided for in 19-5-502. (3) If a member elected or appointed to office after July 1, 1983, is involuntarily discontinued from service after having
earned at least 12 years of service credit but before reaching service retirement age, the member may apply for and receive
an involuntary retirement benefit that is the actuarial equivalent of benefits pursuant to subsection (1)."
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Latest Version of HB 383 (HB0383.01)
Processed for the Web on January 25, 1999 (4:16PM)
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