Section 42Part 6 — Benefits
Cash out of small benefits
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Notwithstanding any provision of this Act to the contrary, if the commuted value of the pension benefit on termination is less than five thousand dollars or such other sum as may be prescribed, the administrator may distribute such benefit to the former member, or, if the member is deceased, to that member's spouse or civil partner, dependent child or designated beneficiary, as appropriate, in a single lump sum cash payment payable on the date of termination.
Referenced By
- Section 34 — Transfer
section 42 - cash out of small benefits