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, 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.
Enacted by Chapter 266, 2010 General Session