The lump sum option or small pension payout is available to retiring member's whose pension is less than $19.67 per month. If you qualify, you have 30 days from the date of your first pension payment to request the lump sum payment in writing.

The lump sum payment can be made directly to you, less withholding tax, or it can be transferred to another registered retirement savings option. In either instance you receive a one-time lump sum payment in exchange for future monthly payments. The lump sum threshold amount may change on January 1 each year.