86.359. Retroactive payments to be lump sum with interest, rate.
Retroactive payments to be lump sum with interest, rate.
86.359. If a retroactive payment is made to a member, survivingspouse, dependent child, or other beneficiary under sections 86.200 to86.366 for any reason, a lump sum equal to the sum of the retroactivemonthly payments, plus interest, shall be paid. For this purpose, interestshall be credited at the rate of six percent annum, compounded annually.
(L. 2006 S.B. 871)