Utah Statutes
§ 49-12-403 — Allowance payable by lump sum payment.
Utah·Title 49 Utah State Retirement and Insurance Benefit Act·Ch. 49-12 Public Employees' Contributory Retirement Act·Part 49-12-4 Defined Benefit
(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.
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Legislative History
Renumbered and Amended by Chapter 250, 2002 General Session
Nearby Sections
15
§ 49-11-1001
Partial lump-sum payment option.§ 49-11-101
Title.§ 49-11-102
Definitions.§ 49-11-103
Purpose -- Liberal construction.§ 49-11-1102
Public notice of administrative board meetings -- Posting on Utah Public Notice Website.§ 49-11-1103
Public information requests.§ 49-11-1201
Title.§ 49-11-1202
Definitions.§ 49-11-1203
Applicability.§ 49-11-1206
Notice of postretirement reemployment.§ 49-11-1208
Rulemaking.