{"data":{"id":"us-mt/19-9-1208","jurisdiction":"us-mt","citation":"19-9-1208","heading":"Distribution of DROP benefit.","body":"(1) Upon termination of service, a participant is entitled to:\n(a) receive a lump-sum distribution of the participant's DROP benefit;\n(b) roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or\n(c) any other distribution or method of payment of the DROP benefit approved by the board.\n(2) A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code.\n(3) The amount of a distribution, rollover, transfer, or other payment of a DROP benefit pursuant to this section must include interest credited to the participant's account as follows:\n(a) through June 30, 2009, interest must be credited every fiscal yearend at a rate reflecting the retirement system's annual investment earnings for the applicable fiscal year;\n(b) after June 30, 2009, interest must be credited every fiscal yearend at the actuarially assumed rate of return. Proportionate interest must be credited for distributions taking place at other than a fiscal yearend.","path":["TITLE 19. PUBLIC RETIREMENT SYSTEMS","CHAPTER 9. POLICE RETIREMENT -- STATEWIDE PLAN","Part 12. Deferred Retirement Option Plan (DROP)"],"source_url":"https://mca.legmt.gov/bills/mca/title_0190/chapter_0090/part_0120/section_0080/0190-0090-0120-0080.html","current_through":"Montana Code Annotated 2025","vintage":"","retrieved_at":"2026-09-14T04:49:00Z","sha256":"84091b8f314b54e9314f6aef41c4726bc3ffc213851e8f62fdc172b14b2a120e","source_id":"us-mt","stale":false,"prev":"us-mt/19-9-1207","next":"us-mt/19-9-1301"},"notice":"GroundRules: Original legal text. Not legal advice."}