Utah § 49-11-1001 - Partial lump-sum payment option.
Full text of Utah Utah Code § 49-11-1001 — Partial lump-sum payment option., with citation guidance and answers to common questions.
§ 49-11-1001. Partial lump-sum payment option.
| (1) | Except as provided in Subsection (5), at the time of application for retirement, a member may elect to receive a lump-sum payment of a portion of the member's retirement allowance equal to 12 or 24 months of the member's allowance to be paid upon retirement. |
| (2) | The member's allowance shall be reduced to reflect the actuarial value of the lump-sum received under Subsection (1). |
| (3) | A member who has received a lump-sum payment under this section is not eligible for another lump-sum payment under this section. |
| (4) | The board may make rules to implement this section. |
| (5) | A member or participant of a system or plan under Chapter 22, New Public Employees' Tier II Contributory Retirement Act, or Chapter 23, New Public Safety and Firefighter Tier II Contributory Retirement Act, is not eligible to make an election under this section. |
Amended by Chapter 266, 2010 General Session
Frequently Asked Questions About Utah § 49-11-1001
What does Utah Code § 49-11-1001 cover?
Section 49-11-1001 ("Partial lump-sum payment option.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 49-11-1001?
A common citation format is "Utah Code § 49-11-1001" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 49-11-1001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.