§ 49-13-403. Allowance payable by lump-sum payment.

(1) If a retiree's allowance, as computed under Section 49-13-402, 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.