19-2-903. Adjustment of errors in payments.
19-2-903. Adjustment of errors in payments. (1) If the amount of a contribution payment is incorrect, the board may reject the payment or accept the payment and approve any of the following methods to collect the correct amount:
(a) adjustment of subsequent payments from a member or an employer;
(b) installment payments or a lump-sum payment from an employer; or
(c) a lump-sum payment or a rollover from a member.
(2) If a purchase of service credit made pursuant to 19-2-704 is determined to be incorrect, the board may approve correcting the error by any of the following methods:
(a) adjusting the subsequent lump-sum or installment payments from the member or the member's employer;
(b) accepting a lump-sum payment or rollover from the member for the amount underpaid; or
(c) granting the member service credit proportional to the amount actually paid.
(3) If fraud or error results in a member, survivor, or beneficiary receiving more or less than entitled to, then on the discovery of the error, the board shall correct the error and, if necessary, equitably adjust the payments.
History: En. 68-2509 by Sec. 57, Ch. 323, L. 1973; amd. Sec. 4, Ch. 132, L. 1977; R.C.M. 1947, 68-2509; amd. Sec. 32, Ch. 265, L. 1993; Sec. 19-3-1403, MCA 1991; redes. 19-2-903 by Sec. 238, Ch. 265, L. 1993; amd. Sec. 14, Ch. 99, L. 2001; amd. Sec. 7, Ch. 329, L. 2005.