§ 19-6-1008

19-6-1008. Distribution of DROP benefit. (1) Upon termination of service, a participant is entitled to: (a) receive a lump-sum distribution of the participant's DROP benefit; (b) roll the participant's DROP benefit into another eligible retirement plan in a manner prescribed and authorized by the board; or (c) any other distribution or method of payment of the DROP benefit approved by the board. (2) A distribution pursuant to this section is subject to the provisions of 19-2-907 and 19-2-909 and all other applicable provisions of Title 19 and the Internal Revenue Code. History: En. Sec. 8, Ch. 258, L. 2015.