General Information Relating to Public Employees' Retirement System of Montana : a Brief Explanation of the Provisions of the Public Employees' Retirement Act 1947
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c. (1) Retirement benefits: The basic age of retirement is 65 with thirty-five years of service.
EXAMPLE: John Doe has worked thirty- five (35) years and is a member of the System. His average salary for the last three years is $250.00 per month. With thirty-five years of service he would be entitled to fifty percent (50"-) of his av- erage salary for the last three (3) years.
50"r Of $250.00 per month equal.s $125.00 per month.
(2) Optional Retirement under Amend- ments io vhe Law: Optional re...tirement under amendments to the law may be obtained by persons who have had ten (10) years or more service and have attained ihe age of .sixty (60) years. Retirement at age 60, however, is subject to a discount, because of such re- tirement at an earlier age.
EXAMPLE: John Doe worked ten (10) years, six (6) months for the State and having reached the age of sixty (60) years, desires to retire. His average sal- ary for the last three (3) years has been $200.00 per month. What amount will he receive as retirement?
What to read after General Information Relating to Public Employees' Retirement System of Montana : a Brief Explanation of the Provisions of the Public Employees' Retirement Act 1947?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement System to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
c. (1) Retirement benefits: The basic age of retirement is 65 with thirty-five years of service.
EXAMPLE: John Doe has worked thirty- five (35) years and is a member of the System. His average salary for the last three years is $250.00 per month. With thirty-five years of service he would be entitled to fifty percent (50"-) of his av- erage salary for the last three (3) years.
50"r Of $250.00 per month equal.s $125.00 per month.
(2) Optional Retirement under Amend- ments io vhe Law: Optional re...tirement under amendments to the law may be obtained by persons who have had ten (10) years or more service and have attained ihe age of .sixty (60) years. Retirement at age 60, however, is subject to a discount, because of such re- tirement at an earlier age.
EXAMPLE: John Doe worked ten (10) years, six (6) months for the State and having reached the age of sixty (60) years, desires to retire. His average sal- ary for the last three (3) years has been $200.00 per month. What amount will he receive as retirement?
What to read after General Information Relating to Public Employees' Retirement System of Montana : a Brief Explanation of the Provisions of the Public Employees' Retirement Act 1947?
You can find similar books in the "Read Also" column, or choose other free books by Montana. Public Employees' Retirement System to read onlineMoreLess
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