- (1) "DROP" means the deferred retirement option plan.
- (2) "DROP account" means the amount of money that has accrued to a DROP participant and includes the monthly DROP accrual plus post retirement adjustments, times the applicable number of months of participation, and interest.
- (3) "Monthly DROP accrual" means the amount equal to the monthly benefit that would have been payable to the participant had the participant terminated and retired.
Authorizing statute(s): 19-2-403, 19-9-1203, MCA
Implementing statute(s): 19-9-1205, MCA
History: NEW, 2002 MAR p. 2652, Eff. 7/12/02; AMD & TRANS, from ARM 2.43.1101, 2008 MAR p. 2467, Eff. 12/1/08.