Idaho Code 59-1343 – Conversion and Commutation of Certain Payments
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 59-1343
- board: means the board provided for in sections 59-1304 and 59-1305, Idaho Code, to administer the retirement system. See Idaho Code 59-1302
- Month: means a calendar month, unless otherwise expressed. See Idaho Code 73-114
- Retirement: means the acceptance of a retirement allowance under this chapter upon termination of employment and, unless otherwise provided by law, requires a termination of employment from an employer participating in PERSI, the judges retirement fund, the firefighters retirement fund or the optional retirement plan. See Idaho Code 59-1302
Unless the retirement board establishes a different level by rule, benefit payments of less than twenty dollars ($20.00) per month shall be commuted into an actuarially equivalent single sum.