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(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.
Cite this article: FindLaw.com - Utah Code Title 49. Utah State Retirement and Insurance Benefit Act § 49-22-306. Allowance payable by lump-sum payment - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-49-utah-state-retirement-and-insurance-benefit-act/ut-code-sect-49-22-306/
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