For the purpose of this chapter, the following definitions apply:

(1) "Board" or "retirement board" means the teachers' retirement board as provided for in 2-5-1010 , MCA.

(2) "Enrolled actuary" means a person who is enrolled by the joint board for the enrollment of actuaries established under subtitle C of the title III of the Employee Retirement Income Security Act of 1974.

(3) "Service credits" or "creditable service" means the number of years credited to a member's account for which contributions have been received as required by statute or rule.

(4) "School term or school year" means the fiscal year July 1 through June 30.