§ 24-6-506. Method of collection

A participant in the Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan shall receive, at the option of the participant:

1. (1) A lump-sum payment from the plan account equal to the payments to the plan account;

2. (2) A true annuity based upon the plan account of the participant; or

3. (3) Any other method of payment if approved by the Board of Trustees of the State Police Retirement System.