Montana Code 19-3-1103. Disability benefit reduced by earnings
19-3-1103. Disability benefit reduced by earnings. (1) (a) If the recipient of a disability retirement benefit is self-employed or employed in a position not covered by the retirement system, the recipient shall submit to the board an annual earnings statement, and any other documentation requested by the board, covering each month during which the recipient was self-employed or employed in the position.
Terms Used In Montana Code 19-3-1103
- Compensation: means remuneration paid out of funds controlled by an employer in payment for the member's services or for time during which the member is excused from work because of a holiday or because the member has taken compensatory leave, sick leave, annual leave, banked holiday time, or a leave of absence before any pretax deductions allowed by state or federal law are made. See Montana Code 19-3-108
- retirement system: means the public employees' retirement system established in 19-3-103. See Montana Code 19-3-108
(b)The amount of the recipient’s retirement benefit for each month of employment must be reduced to an amount that, when added to the compensation earned by the recipient in that occupation, does not exceed the amount of the recipient’s monthly compensation at the time of the recipient’s retirement.
(c)The board shall annually adjust the recipient’s monthly compensation as it was at the time of retirement by an inflationary factor if the recipient has been receiving a disability retirement benefit for more than 36 consecutive months.
(d)If the disability benefit recipient fails to submit the documentation as required under subsection (1)(a), the board may suspend the benefit payments until it receives the documentation.
(2)Benefit adjustments granted by the legislature may not be included in calculations required under this section.