There is a newer version of the Utah Code
2015 Utah Code
Title 49 - Utah State Retirement and Insurance Benefit Act
Chapter 12 - Public Employees' Contributory Retirement Act
Part 4 - Defined Benefit
Section 403 - Allowance payable by lump sum payment.
UT Code § 49-12-403 (2015) What's This?
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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