Involuntary lump sum distributions.
If the monthly benefit payable to any participant is less than one hundred dollars
($100.00) or if the present single-sum value of a benefit is less than two thousand
five hundred dollars ($2,500.00) and the payment of such benefit has not begun, the
board of trustees may, in its sole discretion, pay the actuarial equivalent of such
benefit in a lump sum, or in monthly installments, without the consent of the participant
or the participant's spouse or beneficiary.
(b)
Interest rate calculation.
For purposes of computing the present value of a benefit payable under this section
the interest to be used shall be as defined in section 16-136(b).
