Concerning the threshold for payment of a lump sum retirement allowance in lieu of a monthly benefit.
By resolution, returned to Senate Rules Committee for third reading.
Summary
The bill lets the retirement system director offer a lump‑sum payment instead of a monthly benefit when the calculated monthly amount is under $250, with the threshold adjusted each year. It also creates a request process for beneficiaries receiving less than $50 per month, and provides a way to restore service credit by returning the lump sum with interest.
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