Montana Code > Title 19 > Chapter 3 > Part 12 – Survivorship Benefits and Death Payments


§ 19-3-1201	Eligibility for death payments
§ 19-3-1202	Amount of death payment
§ 19-3-1203	Election of optional death annuity
§ 19-3-1204	Survivorship benefit elected by beneficiary
§ 19-3-1205	Amount of survivorship benefit
§ 19-3-1210	Death payments to designated beneficiaries of retired members
§ 19-3-1211	Refund when former member dies after transferring to another system
§ 19-3-1212	Nonapplication of part to defined contribution plan

Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
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
Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201