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Utah State Retirement and Insurance Benefit Act | |
Public Employees' Contributory Retirement Act | |
Section 403 | Allowance payable by lump sum payment. |
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49-12-403. Allowance payable by lump sum payment. (1) If a retiree's allowance, as computed under this chapter, amounts to $25 or less, the allowance may be settled by the office by making a lump-sum payment of an amount actuarially equivalent to the allowance. (2) A payment made under this section constitutes a full and complete settlement of the retiree's claim against this system.
Renumbered and Amended by Chapter 250, 2002 General Session |
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