2.44.506    BENEFIT PAYMENTS

(1) The first benefit will be payable the last day of the month in which the benefit began and future benefits will be payable the last day of each succeeding month.

(2) Monthly benefits will be paid based upon information provided by the member and estimates prepared by the teachers' retirement system until final salary information and contributions are received.   Adjustments will be retroactive to the retirement effective date.

(3) At the time application for retirement benefits is made, each applicant must submit a copy of their final year's contract, any previous contract(s) as may be requested and a copy of their letter of resignation if one was submitted to their employer.   If a member does not have a written contract, a statement from their employer verifying their daily or hourly rate of pay, their full time equivalent and the number of days they were employed in the fiscal year will be accepted.

(4) Monthly benefits will be prorated to the date of death of the retiree or beneficiary.

History: Sec. 19-4-201, 19-20-201 MCA; IMP, Sec. 19-4-703, 19-20-703 and 19-20-716 MCA; Eff. 12/31/72; AMD, 1987 MAR p. 2233, Eff. 12/11/87; AMD, 1989 MAR p. 1276, Eff. 9/1/89; AMD, 1993 MAR p. 493, Eff. 6/11/93; AMD, 1999 MAR p. 2243, Eff. 10/8/99.