Montana § 19-3-2123 - Payout Of Vested Account Balances When Terminating Plan Membership
Full text of Montana Montana Code Annotated § 19-3-2123 — Payout Of Vested Account Balances When Terminating Plan Membership, with citation guidance and answers to common questions.
§ 19-3-2123. Payout Of Vested Account Balances When Terminating Plan Membership
Payout of vested account balances when terminating plan membership. Except as provided in 19-3-2142 , any time after termination of service, a member or the member's beneficiary may terminate plan membership by filing a written application with the board and removing the member's vested account balance from the plan through any combination of the following payout options, each of which is subject to applicable regulations of the internal revenue service: (1) a direct rollover to an eligible retirement plan, which includes an individual retirement account or annuity and, effective January 1, 2008, a Roth IRA provided for in section 408A of the Internal Revenue Code, 26 U.S.C. 408A, pursuant to section 401(a)(31) of the Internal Revenue Code, 26 U.S.C. 401(a)(31); (2) a regular rollover to an eligible retirement plan pursuant to section 402(c) of the Internal Revenue Code, 26 U.S.C. 402(c); or (3) a lump-sum distribution of the member's vested account balance.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 19-3-2123
What does Montana Code Annotated § 19-3-2123 cover?
Section 19-3-2123 ("Payout Of Vested Account Balances When Terminating Plan Membership") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 19-3-2123?
A common citation format is "Montana Code Annotated § 19-3-2123" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 19-3-2123 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.