19-7-804. Election to purchase additional service. (1) Except as provided in subsection (6), at any time before retirement, a member may make a written election with the board to purchase 1 additional year of service credit for every 5 years of membership service.
(2) Service purchased under this section must be credited for the purpose of meeting retirement eligibility and for calculating retirement benefits.
(3) To qualify this service, a member shall:
(a) make a written election with the board to qualify the service; and
(b) contribute to the pension trust fund the actuarial cost of granting the service in the sheriffs' retirement system, as determined by the board, based on the most recent actuarial valuation of the system.
(4) Contributions to qualify service under this section may be made in a lump-sum payment or in installments as agreed upon by the member and the board. Payments must be completed prior to retirement.
(5) Service qualified under this section may not be:
(a) credited in any other retirement system under Title 19; or
(b) used to qualify for the purchase of military service under 19-7-803.
(6) The combined total of additional years of service purchased under the provisions of 19-7-803 and this section may not exceed 5 years.
History: En. Sec. 1, Ch. 214, L. 1991; amd. Sec. 143, Ch. 265, L. 1993; Sec. 19-7-311, MCA 1991; redes. 19-7-804 by Code Commissioner, 1993.