49-23-305 - Allowance payable by lump-sum payment.
49-23-305. Allowance payable by lump-sum payment.
(1) If a retiree's allowance, as computed under this chapter, amounts to $25 or less, theallowance may be settled by the office by making a lump-sum payment of an amount actuariallyequivalent to the allowance.
(2) A payment made under this section constitutes a full and complete settlement of theretiree's claim against this system.
Enacted by Chapter 266, 2010 General Session