General Information Relating to Public Employees' Retirement System of Montana : a Brief Explanation of the Provisions of the Public Employees' Retirement Act 1952
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O- May an employee who becomes a member later withdraw from the Re- tirement System? A. No. Once an employee becomes a member he must remain a mem- ber unless he changes employment and becomes an elective officer or direct appointee of the Governor of Montana. 6. 0- When may contributions to the retirement system be withdrawn? A. An application for refund of a member's contributions can be made only after his or her termination of service and full payment can be made only upon receipt of a memb...er's contributions. —10— 7. Q. What amount of a member's contributions may be refunded? A. A member with less than ten (10) years of creditable service may withdraw 90% of his contributions without interest; a member with ten (10) years or more of service may withdraw 100% of his con- tributions without interest. Either of these withdrawals forfeits all rights a member has in the retirement system. 8. Q. What benefit is gained by re-depositing a withdrawn contribution when a member re-enters public service?
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