Mont. Code Ann. § 19-2-1002
This is the official text of Mont. Code Ann. § 19-2-1002, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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19-2-1002 Termination of plan
Official statutory text
19-2-1002 . Termination of plan. (1) Upon termination of a retirement system or plan, termination of employment of a substantial number of members that would constitute a partial termination of the retirement system or plan, or complete discontinuance of contributions to that retirement system or plan, the retirement benefit accrued to each member directly affected by the occurrence becomes fully vested and nonforfeitable to the extent funded.
(2) A plan member is 100% vested in the member's accumulated contributions at all times.
(3) At any time prior to satisfaction of all liabilities to members and their beneficiaries under the retirement system or plan, any part of a member's accumulated contributions may not be used for or diverted to purposes other than the exclusive benefit of members and their beneficiaries.
(2) A plan member is 100% vested in the member's accumulated contributions at all times.
(3) At any time prior to satisfaction of all liabilities to members and their beneficiaries under the retirement system or plan, any part of a member's accumulated contributions may not be used for or diverted to purposes other than the exclusive benefit of members and their beneficiaries.
Status: in_force · Read it on the official government site
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