SEC. 25-13-11.1. Payment of retirement benefits by means of direct deposit.
The Public Employees' Retirement System shall make payments of retirement benefits under this chapter to members who retire effective on or after January 1, 2003, and to the beneficiaries of those members, by means of direct deposit to an account with a financial institution that is a participant of the Automated Clearing House designated by the member or beneficiary, unless the member or beneficiary can demonstrate that payment by means of direct deposit will cause the member or beneficiary undue hardship.
SOURCES: Laws, 2002, ch. 627, § 3, HB 1148, eff from and after July 1, 2002.
Chapter Index | Table of Contents