Ark. Code Ann. § 24-7-706 — AR Code / Title 24 / Chapter 7 / Subchapter 7 / Section 24-7-706
Annuity options
Status: in_force

(a) (1) Before the date the first payment of his or her annuity becomes due, a member may elect to receive his or her annuity as a straight life annuity, or he or she may elect to receive the actuarial equivalent, at that time, of his or her straight life annuity in a reduced annuity payable throughout his or her life. (2) The member may designate one (1) or more beneficiaries, in accordance with one (1) of the following options: (A) Option A - 100% Survivor Annuity. (i) Under Option A, upon the death of a retiree, his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; (B) Option B - 50% Survivor Annuity. (i) Under Option B, upon the death of a retiree, one-half (½) of his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or (C) Option C - Annuity for Ten (10) Years Certain and Life Thereafter. (i) Under Option C, a retiree shall receive a reduced annuity payable throughout his or her life with the provision that if he or she dies before he or she has received one hundred twenty (120) monthly annuity payments, the payments shall be continued for the remainder of the period of one hundred twenty (120) months and paid to such persons in equal shares as the retiree has nominated by written designation executed and filed with the board. (ii) If the designated beneficiaries predecease the retiree, the retiree may nominate successor beneficiaries or may elect to return to his or her single lifetime benefit equivalent by written designation executed and filed with the board, to be effective the month following receipt of his or her election by the Arkansas Teacher Retirement System. (iii) (a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent. (b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system. (iv) If no designated beneficiary survives the retiree, the annuity reserve for the remainder of the annuity payments shall be paid to the retiree's estate. (v) If the last designated beneficiary receiving annuity payments dies before all annuity payments are made, the annuity reserve for the remainder of the annuity payments shall be paid to the beneficiary's estate. (vi) Effective the month following completion of the one-hundred-twenty-month period, the retiree's annuity shall return to his or her single lifetime benefit equivalent. (3) In addition to the persons eligible to be designated as a beneficiary under either Option A or Option B in subdivision (a)(2) of this section, the board may promulgate rules concerning the addition of classes of eligible persons to be designated as a beneficiary under this section and for the rights of option beneficiaries of deceased disability retirees under § 24-7-704 . (4) (A) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option A beneficiaries, the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option A beneficiaries, the spouse shall receive fifty percent (50%) of the retiree's reduced annuity and the remaining fifty percent (50%) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option A beneficiary and a spouse is not designated as the retiree's Option A beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option A beneficiary. (B) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option B beneficiaries, one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option B beneficiaries, the spouse shall receive fifty percent (50%) of one-half (½) of the retiree's reduced annuity and the remaining fifty percent (50%) of one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option B beneficiary and a spouse is not designated as the retiree's Option B beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option B beneficiary. (5) If both a spouse and one (1) or more dependent children are designated as the Option A or Option B beneficiaries of a retiree and annuity payments to either the spouse or one (1) or more of the dependent children have begun, the following shall apply: (A) A dependent child's portion of the annuity shall not revert to the spouse or any other dependent children if the dependent child: (i) Predeceases the spouse or any other dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments; and (B) The spouse's portion of the annuity shall not revert to any dependent child if the spouse: (i) Predeceases one (1) or more dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments. (b) (1) (A) If a member's marital status changes after retirement due to the death of the member's spouse, or a divorce or marriage dissolution from the member's spouse who is also the member's designated beneficiary, then the member may elect to cancel any optional plan designating the former spouse as a beneficiary. (B) A member's election under subdivision (b)(1)(A) of this section shall cause the member to return to his or her lifetime benefit equivalent, to be effective the month following the system's receipt of the approved form. (2) A retiree who is receiving a single lifetime benefit and who marries after retirement may elect to cancel his or her single lifetime benefit and may elect an annuity providing continuing lifetime benefits to his or her spouse under rules promulgated by the board. (c) If a member fails to elect an option, his or her annuity shall be paid to him or her as a straight life annuity. (d) (1) Notwithstanding anything contained in this section to the contrary, the residue beneficiary under § 24-7-709 may elect to cancel the form of annuity in effect and elect Option A - 100% Survivor Annuity upon the death of a retiree on or after July 1, 1989, if: (A) The retiree died within one (1) year following the effective date of retirement; (B) The retiree was receiving a straight life annuity; and (C) The residue beneficiary otherwise qualifies for an Option A - 100% Survivor Annuity. (2) The election to change may be made only one (1) time and shall be on a form approved by the system. (3) The election form must be received by the system within one hundred twenty (120) days of the death of the retiree. (4) A surviving spouse who is eligible to receive an annuity under this section may elect to receive a lump-sum distribution of the retiree's residue in lieu of the spousal annuity if: (A) The retiree did not designate one (1) or more dependent children as a beneficiary; and (B) The surviving spouse files a written waiver of his or her right to the spousal annuity with the system. (5) If a residue beneficiary elects the Option A - 100% Survivor Annuity under this subsection and is the surviving spouse of a disability retiree, the same procedures used under § 24-7-710 to determine when an active member's surviving spouse is entitled to begin receiving benefit payments shall be used to determine when the residue beneficiary is entitled to begin receiving benefit payments. (e) (1) Notwithstanding anything in this section to the contrary, a retiree who retired on or after July 1, 1994, may elect to cancel his or her election made at retirement for receiving an annuity and elect another option, provided that he or she: (A) Does so within one (1) year after July 1, 1995, or within one (1) year of retirement; (B) Files with the system a new election form approved by the system; and (C) (i) Repays to the system the difference between the amount of the annuity received when he or she retired and the new annuity due as a result of the election change, plus interest from July 1, 1994, or his or her retirement date, whichever is later, to the date of payment in full. (ii) The difference shall be calculated retroactively to July 1, 1994, or his or her retirement date, whichever is later. (2) The election to change shall be made only one (1) time. (3) The election change shall be effective retroactively to the effective date of his or her annuity. (f) The board shall: (1) Promulgate rules as necessary to administer this section; and (2) Institute fair procedures for members of the system, including without limitation: (A) Requirements for designating a beneficiary; and (B) Spousal election. (g) A retiree's effective retirement date and the date when survivor benefits under this section are payable shall be determined by the law in effect at the time of the retiree's death. Amended by Act 2023, No. 170,§ 5, eff. 7/1/2023. Amended by Act 2023, No. 170,§ 4, eff. 7/1/2023. Amended by Act 2023, No. 170,§ 3, eff. 7/1/2023. Amended by Act 2023, No. 170,§ 2, eff. 7/1/2023. Amended by Act 2023, No. 170,§ 1, eff. 7/1/2023. Amended by Act 2023, No. 107,§ 41, eff. 7/1/2023. Amended by Act 2017, No. 293,§ 5, eff. 2/28/2017. Amended by Act 2015, No. 375,§ 2, eff. 3/11/2015. Amended by Act 2015, No. 375,§ 1, eff. 3/11/2015. Amended by Act 2015, No. 301,§ 8, eff. 3/4/2015. Acts 1973, No. 427, § 9; 1977, No. 541, § 5; 1979, No. 681, § 7; 1983, No. 619, § 10; 1983, No. 665, § 10; A.S.A. 1947, § 80-1443; Acts 1991, No. 51, § 1; 1995, No. 528, § 1; 1999, No. 395, §§ 1, 2; 1999, No. 866, § 7; 2005, No. 385, § 7; 2007, No. 97, § 12; 2011, No. 137, § 2; 2011, No. 557, § 1.

(a) (1) Before the date the first payment of his or her annuity becomes due, a member may elect to receive his or her annuity as a straight life annuity, or he or she may elect to receive the actuarial equivalent, at that time, of his or her straight life annuity in a reduced annuity payable throughout his or her life. (2) The member may designate one (1) or more beneficiaries, in accordance with one (1) of the following options: (A) Option A - 100% Survivor Annuity. (i) Under Option A, upon the death of a retiree, his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; (B) Option B - 50% Survivor Annuity. (i) Under Option B, upon the death of a retiree, one-half (½) of his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or (C) Option C - Annuity for Ten (10) Years Certain and Life Thereafter. (i) Under Option C, a retiree shall receive a reduced annuity payable throughout his or her life with the provision that if he or she dies before he or she has received one hundred twenty (120) monthly annuity payments, the payments shall be continued for the remainder of the period of one hundred twenty (120) months and paid to such persons in equal shares as the retiree has nominated by written designation executed and filed with the board. (ii) If the designated beneficiaries predecease the retiree, the retiree may nominate successor beneficiaries or may elect to return to his or her single lifetime benefit equivalent by written designation executed and filed with the board, to be effective the month following receipt of his or her election by the Arkansas Teacher Retirement System. (iii) (a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent. (b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system. (iv) If no designated beneficiary survives the retiree, the annuity reserve for the remainder of the annuity payments shall be paid to the retiree's estate. (v) If the last designated beneficiary receiving annuity payments dies before all annuity payments are made, the annuity reserve for the remainder of the annuity payments shall be paid to the beneficiary's estate. (vi) Effective the month following completion of the one-hundred-twenty-month period, the retiree's annuity shall return to his or her single lifetime benefit equivalent. (3) In addition to the persons eligible to be designated as a beneficiary under either Option A or Option B in subdivision (a)(2) of this section, the board may promulgate rules concerning the addition of classes of eligible persons to be designated as a beneficiary under this section and for the rights of option beneficiaries of deceased disability retirees under § 24-7-704 . (4) (A) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option A beneficiaries, the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option A beneficiaries, the spouse shall receive fifty percent (50%) of the retiree's reduced annuity and the remaining fifty percent (50%) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option A beneficiary and a spouse is not designated as the retiree's Option A beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option A beneficiary. (B) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option B beneficiaries, one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option B beneficiaries, the spouse shall receive fifty percent (50%) of one-half (½) of the retiree's reduced annuity and the remaining fifty percent (50%) of one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option B beneficiary and a spouse is not designated as the retiree's Option B beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option B beneficiary. (5) If both a spouse and one (1) or more dependent children are designated as the Option A or Option B beneficiaries of a retiree and annuity payments to either the spouse or one (1) or more of the dependent children have begun, the following shall apply: (A) A dependent child's portion of the annuity shall not revert to the spouse or any other dependent children if the dependent child: (i) Predeceases the spouse or any other dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments; and (B) The spouse's portion of the annuity shall not revert to any dependent child if the spouse: (i) Predeceases one (1) or more dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments.

(1) Before the date the first payment of his or her annuity becomes due, a member may elect to receive his or her annuity as a straight life annuity, or he or she may elect to receive the actuarial equivalent, at that time, of his or her straight life annuity in a reduced annuity payable throughout his or her life.

(2) The member may designate one (1) or more beneficiaries, in accordance with one (1) of the following options: (A) Option A - 100% Survivor Annuity. (i) Under Option A, upon the death of a retiree, his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; (B) Option B - 50% Survivor Annuity. (i) Under Option B, upon the death of a retiree, one-half (½) of his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or (C) Option C - Annuity for Ten (10) Years Certain and Life Thereafter. (i) Under Option C, a retiree shall receive a reduced annuity payable throughout his or her life with the provision that if he or she dies before he or she has received one hundred twenty (120) monthly annuity payments, the payments shall be continued for the remainder of the period of one hundred twenty (120) months and paid to such persons in equal shares as the retiree has nominated by written designation executed and filed with the board. (ii) If the designated beneficiaries predecease the retiree, the retiree may nominate successor beneficiaries or may elect to return to his or her single lifetime benefit equivalent by written designation executed and filed with the board, to be effective the month following receipt of his or her election by the Arkansas Teacher Retirement System. (iii) (a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent. (b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system. (iv) If no designated beneficiary survives the retiree, the annuity reserve for the remainder of the annuity payments shall be paid to the retiree's estate. (v) If the last designated beneficiary receiving annuity payments dies before all annuity payments are made, the annuity reserve for the remainder of the annuity payments shall be paid to the beneficiary's estate. (vi) Effective the month following completion of the one-hundred-twenty-month period, the retiree's annuity shall return to his or her single lifetime benefit equivalent.

(A) Option A - 100% Survivor Annuity. (i) Under Option A, upon the death of a retiree, his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction;

(i) Under Option A, upon the death of a retiree, his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the Board of Trustees of the Arkansas Teacher Retirement System before the date the first payment of his or her annuity becomes due.

(ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction;

(a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section.

(1) The retiree's spouse;

(2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section; or

(3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(A)(ii) (c) of this section.

(b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date.

(c) A child of a retiree qualifies as a dependent child and may be designated as an Option A beneficiary of the retiree if the child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction;

(B) Option B - 50% Survivor Annuity. (i) Under Option B, upon the death of a retiree, one-half (½) of his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due. (ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or

(i) Under Option B, upon the death of a retiree, one-half (½) of his or her reduced annuity shall be continued throughout the life of and paid as provided under subdivision (a)(4) of this section to the persons that he or she nominates by written designation executed and filed with the board before the date the first payment of his or her annuity becomes due.

(ii) (a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section. (b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date. (c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or

(a) The designated beneficiary or beneficiaries of a retiree shall be either: (1) The retiree's spouse; (2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or (3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section.

(1) The retiree's spouse;

(2) One (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section; or

(3) Both the retiree's spouse and one (1) or more of the retiree's children who qualify as a dependent child under subdivision (a)(2)(B)(ii) (c) of this section.

(b) The spouse of a retiree may be designated as the retiree's beneficiary if the retiree has been married to the spouse for at least one (1) year immediately preceding the first annuity payment due date.

(c) A dependent child of a retiree may be designated as an Option B beneficiary of the retiree if the dependent child has been adjudged physically or mentally incapacitated by a court of competent jurisdiction; or

(C) Option C - Annuity for Ten (10) Years Certain and Life Thereafter. (i) Under Option C, a retiree shall receive a reduced annuity payable throughout his or her life with the provision that if he or she dies before he or she has received one hundred twenty (120) monthly annuity payments, the payments shall be continued for the remainder of the period of one hundred twenty (120) months and paid to such persons in equal shares as the retiree has nominated by written designation executed and filed with the board. (ii) If the designated beneficiaries predecease the retiree, the retiree may nominate successor beneficiaries or may elect to return to his or her single lifetime benefit equivalent by written designation executed and filed with the board, to be effective the month following receipt of his or her election by the Arkansas Teacher Retirement System. (iii) (a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent. (b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system. (iv) If no designated beneficiary survives the retiree, the annuity reserve for the remainder of the annuity payments shall be paid to the retiree's estate. (v) If the last designated beneficiary receiving annuity payments dies before all annuity payments are made, the annuity reserve for the remainder of the annuity payments shall be paid to the beneficiary's estate. (vi) Effective the month following completion of the one-hundred-twenty-month period, the retiree's annuity shall return to his or her single lifetime benefit equivalent.

(i) Under Option C, a retiree shall receive a reduced annuity payable throughout his or her life with the provision that if he or she dies before he or she has received one hundred twenty (120) monthly annuity payments, the payments shall be continued for the remainder of the period of one hundred twenty (120) months and paid to such persons in equal shares as the retiree has nominated by written designation executed and filed with the board.

(ii) If the designated beneficiaries predecease the retiree, the retiree may nominate successor beneficiaries or may elect to return to his or her single lifetime benefit equivalent by written designation executed and filed with the board, to be effective the month following receipt of his or her election by the Arkansas Teacher Retirement System.

(iii) (a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent. (b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system.

(a) If the designated beneficiary is the spouse of the retiree and the marriage ends in divorce or other marriage dissolution, the retiree may: (1) Nominate a successor beneficiary; or (2) Elect to return to his or her single lifetime benefit equivalent.

(1) Nominate a successor beneficiary; or

(2) Elect to return to his or her single lifetime benefit equivalent.

(b) The nomination or election made under subdivision (a)(2)(C)(iii) (a) of this section shall be in writing, executed by the retiree, and filed with the board, to be effective the month following receipt of his or her election by the system.

(iv) If no designated beneficiary survives the retiree, the annuity reserve for the remainder of the annuity payments shall be paid to the retiree's estate.

(v) If the last designated beneficiary receiving annuity payments dies before all annuity payments are made, the annuity reserve for the remainder of the annuity payments shall be paid to the beneficiary's estate.

(vi) Effective the month following completion of the one-hundred-twenty-month period, the retiree's annuity shall return to his or her single lifetime benefit equivalent.

(3) In addition to the persons eligible to be designated as a beneficiary under either Option A or Option B in subdivision (a)(2) of this section, the board may promulgate rules concerning the addition of classes of eligible persons to be designated as a beneficiary under this section and for the rights of option beneficiaries of deceased disability retirees under § 24-7-704 .

(4) (A) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option A beneficiaries, the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option A beneficiaries, the spouse shall receive fifty percent (50%) of the retiree's reduced annuity and the remaining fifty percent (50%) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option A beneficiary and a spouse is not designated as the retiree's Option A beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option A beneficiary. (B) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option B beneficiaries, one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option B beneficiaries, the spouse shall receive fifty percent (50%) of one-half (½) of the retiree's reduced annuity and the remaining fifty percent (50%) of one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option B beneficiary and a spouse is not designated as the retiree's Option B beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option B beneficiary.

(A) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option A beneficiaries, the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option A beneficiaries, the spouse shall receive fifty percent (50%) of the retiree's reduced annuity and the remaining fifty percent (50%) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option A beneficiary and a spouse is not designated as the retiree's Option A beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option A beneficiary.

(i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option A beneficiaries, the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child.

(ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option A beneficiaries, the spouse shall receive fifty percent (50%) of the retiree's reduced annuity and the remaining fifty percent (50%) of the retiree's reduced annuity shall be paid in equal shares to the dependent children.

(iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option A beneficiary and a spouse is not designated as the retiree's Option A beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option A beneficiary.

(B) (i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option B beneficiaries, one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child. (ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option B beneficiaries, the spouse shall receive fifty percent (50%) of one-half (½) of the retiree's reduced annuity and the remaining fifty percent (50%) of one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the dependent children. (iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option B beneficiary and a spouse is not designated as the retiree's Option B beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option B beneficiary.

(i) Upon the death of a retiree, if both a spouse and one (1) dependent child are designated as the retiree's Option B beneficiaries, one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the spouse and the dependent child.

(ii) Upon the death of a retiree, if both a spouse and more than one (1) dependent child are designated as the retiree's Option B beneficiaries, the spouse shall receive fifty percent (50%) of one-half (½) of the retiree's reduced annuity and the remaining fifty percent (50%) of one-half (½) of the retiree's reduced annuity shall be paid in equal shares to the dependent children.

(iii) Upon the death of a retiree, if more than one (1) dependent child is designated as the retiree's Option B beneficiary and a spouse is not designated as the retiree's Option B beneficiary, the retiree's reduced annuity shall be paid in equal shares to each dependent child designated as the retiree's Option B beneficiary.

(5) If both a spouse and one (1) or more dependent children are designated as the Option A or Option B beneficiaries of a retiree and annuity payments to either the spouse or one (1) or more of the dependent children have begun, the following shall apply: (A) A dependent child's portion of the annuity shall not revert to the spouse or any other dependent children if the dependent child: (i) Predeceases the spouse or any other dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments; and (B) The spouse's portion of the annuity shall not revert to any dependent child if the spouse: (i) Predeceases one (1) or more dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments.

(A) A dependent child's portion of the annuity shall not revert to the spouse or any other dependent children if the dependent child: (i) Predeceases the spouse or any other dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments; and

(i) Predeceases the spouse or any other dependent children; or

(ii) Otherwise becomes ineligible to continue receiving annuity payments; and

(B) The spouse's portion of the annuity shall not revert to any dependent child if the spouse: (i) Predeceases one (1) or more dependent children; or (ii) Otherwise becomes ineligible to continue receiving annuity payments.

(i) Predeceases one (1) or more dependent children; or

(ii) Otherwise becomes ineligible to continue receiving annuity payments.

(b) (1) (A) If a member's marital status changes after retirement due to the death of the member's spouse, or a divorce or marriage dissolution from the member's spouse who is also the member's designated beneficiary, then the member may elect to cancel any optional plan designating the former spouse as a beneficiary. (B) A member's election under subdivision (b)(1)(A) of this section shall cause the member to return to his or her lifetime benefit equivalent, to be effective the month following the system's receipt of the approved form. (2) A retiree who is receiving a single lifetime benefit and who marries after retirement may elect to cancel his or her single lifetime benefit and may elect an annuity providing continuing lifetime benefits to his or her spouse under rules promulgated by the board.

(1) (A) If a member's marital status changes after retirement due to the death of the member's spouse, or a divorce or marriage dissolution from the member's spouse who is also the member's designated beneficiary, then the member may elect to cancel any optional plan designating the former spouse as a beneficiary. (B) A member's election under subdivision (b)(1)(A) of this section shall cause the member to return to his or her lifetime benefit equivalent, to be effective the month following the system's receipt of the approved form.

(A) If a member's marital status changes after retirement due to the death of the member's spouse, or a divorce or marriage dissolution from the member's spouse who is also the member's designated beneficiary, then the member may elect to cancel any optional plan designating the former spouse as a beneficiary.

(B) A member's election under subdivision (b)(1)(A) of this section shall cause the member to return to his or her lifetime benefit equivalent, to be effective the month following the system's receipt of the approved form.

(2) A retiree who is receiving a single lifetime benefit and who marries after retirement may elect to cancel his or her single lifetime benefit and may elect an annuity providing continuing lifetime benefits to his or her spouse under rules promulgated by the board.

(c) If a member fails to elect an option, his or her annuity shall be paid to him or her as a straight life annuity.

(d) (1) Notwithstanding anything contained in this section to the contrary, the residue beneficiary under § 24-7-709 may elect to cancel the form of annuity in effect and elect Option A - 100% Survivor Annuity upon the death of a retiree on or after July 1, 1989, if: (A) The retiree died within one (1) year following the effective date of retirement; (B) The retiree was receiving a straight life annuity; and (C) The residue beneficiary otherwise qualifies for an Option A - 100% Survivor Annuity. (2) The election to change may be made only one (1) time and shall be on a form approved by the system. (3) The election form must be received by the system within one hundred twenty (120) days of the death of the retiree. (4) A surviving spouse who is eligible to receive an annuity under this section may elect to receive a lump-sum distribution of the retiree's residue in lieu of the spousal annuity if: (A) The retiree did not designate one (1) or more dependent children as a beneficiary; and (B) The surviving spouse files a written waiver of his or her right to the spousal annuity with the system. (5) If a residue beneficiary elects the Option A - 100% Survivor Annuity under this subsection and is the surviving spouse of a disability retiree, the same procedures used under § 24-7-710 to determine when an active member's surviving spouse is entitled to begin receiving benefit payments shall be used to determine when the residue beneficiary is entitled to begin receiving benefit payments.

(1) Notwithstanding anything contained in this section to the contrary, the residue beneficiary under § 24-7-709 may elect to cancel the form of annuity in effect and elect Option A - 100% Survivor Annuity upon the death of a retiree on or after July 1, 1989, if: (A) The retiree died within one (1) year following the effective date of retirement; (B) The retiree was receiving a straight life annuity; and (C) The residue beneficiary otherwise qualifies for an Option A - 100% Survivor Annuity.

(A) The retiree died within one (1) year following the effective date of retirement;

(B) The retiree was receiving a straight life annuity; and

(C) The residue beneficiary otherwise qualifies for an Option A - 100% Survivor Annuity.

(2) The election to change may be made only one (1) time and shall be on a form approved by the system.

(3) The election form must be received by the system within one hundred twenty (120) days of the death of the retiree.

(4) A surviving spouse who is eligible to receive an annuity under this section may elect to receive a lump-sum distribution of the retiree's residue in lieu of the spousal annuity if: (A) The retiree did not designate one (1) or more dependent children as a beneficiary; and (B) The surviving spouse files a written waiver of his or her right to the spousal annuity with the system.

(A) The retiree did not designate one (1) or more dependent children as a beneficiary; and

(B) The surviving spouse files a written waiver of his or her right to the spousal annuity with the system.

(5) If a residue beneficiary elects the Option A - 100% Survivor Annuity under this subsection and is the surviving spouse of a disability retiree, the same procedures used under § 24-7-710 to determine when an active member's surviving spouse is entitled to begin receiving benefit payments shall be used to determine when the residue beneficiary is entitled to begin receiving benefit payments.

(e) (1) Notwithstanding anything in this section to the contrary, a retiree who retired on or after July 1, 1994, may elect to cancel his or her election made at retirement for receiving an annuity and elect another option, provided that he or she: (A) Does so within one (1) year after July 1, 1995, or within one (1) year of retirement; (B) Files with the system a new election form approved by the system; and (C) (i) Repays to the system the difference between the amount of the annuity received when he or she retired and the new annuity due as a result of the election change, plus interest from July 1, 1994, or his or her retirement date, whichever is later, to the date of payment in full. (ii) The difference shall be calculated retroactively to July 1, 1994, or his or her retirement date, whichever is later. (2) The election to change shall be made only one (1) time. (3) The election change shall be effective retroactively to the effective date of his or her annuity.

(1) Notwithstanding anything in this section to the contrary, a retiree who retired on or after July 1, 1994, may elect to cancel his or her election made at retirement for receiving an annuity and elect another option, provided that he or she: (A) Does so within one (1) year after July 1, 1995, or within one (1) year of retirement; (B) Files with the system a new election form approved by the system; and (C) (i) Repays to the system the difference between the amount of the annuity received when he or she retired and the new annuity due as a result of the election change, plus interest from July 1, 1994, or his or her retirement date, whichever is later, to the date of payment in full. (ii) The difference shall be calculated retroactively to July 1, 1994, or his or her retirement date, whichever is later.

(A) Does so within one (1) year after July 1, 1995, or within one (1) year of retirement;

(B) Files with the system a new election form approved by the system; and

(C) (i) Repays to the system the difference between the amount of the annuity received when he or she retired and the new annuity due as a result of the election change, plus interest from July 1, 1994, or his or her retirement date, whichever is later, to the date of payment in full. (ii) The difference shall be calculated retroactively to July 1, 1994, or his or her retirement date, whichever is later.

(i) Repays to the system the difference between the amount of the annuity received when he or she retired and the new annuity due as a result of the election change, plus interest from July 1, 1994, or his or her retirement date, whichever is later, to the date of payment in full.

(ii) The difference shall be calculated retroactively to July 1, 1994, or his or her retirement date, whichever is later.

(2) The election to change shall be made only one (1) time.

(3) The election change shall be effective retroactively to the effective date of his or her annuity.

(f) The board shall: (1) Promulgate rules as necessary to administer this section; and (2) Institute fair procedures for members of the system, including without limitation: (A) Requirements for designating a beneficiary; and (B) Spousal election.

(1) Promulgate rules as necessary to administer this section; and

(2) Institute fair procedures for members of the system, including without limitation: (A) Requirements for designating a beneficiary; and (B) Spousal election.

(A) Requirements for designating a beneficiary; and

(B) Spousal election.

(g) A retiree's effective retirement date and the date when survivor benefits under this section are payable shall be determined by the law in effect at the time of the retiree's death.

Amended by Act 2023, No. 170,§ 5, eff. 7/1/2023.

Amended by Act 2023, No. 170,§ 4, eff. 7/1/2023.

Amended by Act 2023, No. 170,§ 3, eff. 7/1/2023.

Amended by Act 2023, No. 170,§ 2, eff. 7/1/2023.

Amended by Act 2023, No. 170,§ 1, eff. 7/1/2023.

Amended by Act 2023, No. 107,§ 41, eff. 7/1/2023.

Amended by Act 2017, No. 293,§ 5, eff. 2/28/2017.

Amended by Act 2015, No. 375,§ 2, eff. 3/11/2015.

Amended by Act 2015, No. 375,§ 1, eff. 3/11/2015.

Amended by Act 2015, No. 301,§ 8, eff. 3/4/2015.

Acts 1973, No. 427, § 9; 1977, No. 541, § 5; 1979, No. 681, § 7; 1983, No. 619, § 10; 1983, No. 665, § 10; A.S.A. 1947, § 80-1443; Acts 1991, No. 51, § 1; 1995, No. 528, § 1; 1999, No. 395, §§ 1, 2; 1999, No. 866, § 7; 2005, No. 385, § 7; 2007, No. 97, § 12; 2011, No. 137, § 2; 2011, No. 557, § 1.
Ark. Code Ann. § 24-10-506 — AR Code / Title 24 / Chapter 10 / Subchapter 5 / Section 24-10-506
Other local police and fire service
Status: in_force

(a) An active member of the Arkansas Local Police and Fire Retirement System shall be entitled to purchase credited service in the system equivalent to a period not to exceed fifteen (15) years if the member: (1) (A) Has at least five (5) years of actual service with the system. (B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section; (2) (A) Had service: (i) With a local government covered by a municipal policemen's pension and relief fund under § 24-11-401 et seq. or a municipal firemen's relief and pension fund under § 24-11-801 et seq.; or (ii) (a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system. (b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet. (B) Service that is or will be eligible for benefit payment from another plan shall not be eligible for purchase under the system; and (3) Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased. This actuarial equivalent would be as of the time of the purchase of credited service and would be determined by the actuary to the system. (b) The Board of Trustees of the Arkansas Local Police and Fire Retirement System may make the final determination as to: (1) The length of purchased service credit; (2) The amount of regular interest to be charged; and (3) The manner in which payment will be made to the system. (c) Service credit purchased under this section may be used to determine the member's total credited service for the amount upon retirement and shall not be used to determine his or her final average pay for service under the system. Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013. Amended by Act 2013, No. 1065,§ 2, eff. 4/11/2013. Acts 1993, No. 1084, § 1; 1997, No. 1352, § 1; 1999, No. 1455, § 1; 2007, No. 1057, § 1; 2011, No. 167, § 1.

(a) An active member of the Arkansas Local Police and Fire Retirement System shall be entitled to purchase credited service in the system equivalent to a period not to exceed fifteen (15) years if the member: (1) (A) Has at least five (5) years of actual service with the system. (B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section; (2) (A) Had service: (i) With a local government covered by a municipal policemen's pension and relief fund under § 24-11-401 et seq. or a municipal firemen's relief and pension fund under § 24-11-801 et seq.; or (ii) (a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system. (b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet. (B) Service that is or will be eligible for benefit payment from another plan shall not be eligible for purchase under the system; and (3) Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased. This actuarial equivalent would be as of the time of the purchase of credited service and would be determined by the actuary to the system.

(1) (A) Has at least five (5) years of actual service with the system. (B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section;

(A) Has at least five (5) years of actual service with the system.

(B) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section;

(2) (A) Had service: (i) With a local government covered by a municipal policemen's pension and relief fund under § 24-11-401 et seq. or a municipal firemen's relief and pension fund under § 24-11-801 et seq.; or (ii) (a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system. (b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet. (B) Service that is or will be eligible for benefit payment from another plan shall not be eligible for purchase under the system; and

(A) Had service: (i) With a local government covered by a municipal policemen's pension and relief fund under § 24-11-401 et seq. or a municipal firemen's relief and pension fund under § 24-11-801 et seq.; or (ii) (a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system. (b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet.

(i) With a local government covered by a municipal policemen's pension and relief fund under § 24-11-401 et seq. or a municipal firemen's relief and pension fund under § 24-11-801 et seq.; or

(ii) (a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system. (b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet.

(a) As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system.

(b) As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet.

(B) Service that is or will be eligible for benefit payment from another plan shall not be eligible for purchase under the system; and

(3) Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased. This actuarial equivalent would be as of the time of the purchase of credited service and would be determined by the actuary to the system.

(b) The Board of Trustees of the Arkansas Local Police and Fire Retirement System may make the final determination as to: (1) The length of purchased service credit; (2) The amount of regular interest to be charged; and (3) The manner in which payment will be made to the system.

(1) The length of purchased service credit;

(2) The amount of regular interest to be charged; and

(3) The manner in which payment will be made to the system.

(c) Service credit purchased under this section may be used to determine the member's total credited service for the amount upon retirement and shall not be used to determine his or her final average pay for service under the system.

Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.

Amended by Act 2013, No. 1065,§ 2, eff. 4/11/2013.

Acts 1993, No. 1084, § 1; 1997, No. 1352, § 1; 1999, No. 1455, § 1; 2007, No. 1057, § 1; 2011, No. 167, § 1.
Ark. Code Ann. § 24-11-401 — AR Code / Title 24 / Chapter 11 / Subchapter 4 / Section 24-11-401
Applicability
Status: in_force

This subchapter shall not apply to any city that had a policemen's pension and relief fund on June 10, 1937. Acts 1937, No. 250, § 21; Pope's Dig., § 9876; A.S.A. 1947, § 19-1820.

This subchapter shall not apply to any city that had a policemen's pension and relief fund on June 10, 1937.

Acts 1937, No. 250, § 21; Pope's Dig., § 9876; A.S.A. 1947, § 19-1820.
Ark. Code Ann. § 24-10-504 — AR Code / Title 24 / Chapter 10 / Subchapter 5 / Section 24-10-504
Forfeiture and restoration
Status: in_force

(a) (1) When a member is no longer employed by any employer in covered employment, he or she shall cease to be a member of the Arkansas Local Police and Fire Retirement System. (2) Except as otherwise provided in this chapter, upon termination of his or her membership his or her credited service shall be forfeited by him or her. (3) If the person becomes reemployed by any employer in covered employment, he or she shall again become a member of the system under subdivision (a)(4) of this section. (4) Upon his or her reemployment, his or her credited service last forfeited by him or her shall be restored to his or her credit, but only if he or she returns to the system the amount, if any, he or she withdrew from the system, together with regular interest from the date of withdrawal to the date of repayment. (b) (1) Upon a member's retirement, he or she shall cease to be a member. (2) Except under subdivision (b)(3) of this section or as otherwise provided in this chapter, he or she shall not again become a member of the system. (3) Upon a member's retirement for a period of not less than ninety (90) days, the member may return to volunteer service with a covered employer and may continue to draw the retirant's annuity if the retirant desires to return to the covered employer and voluntarily waives further service credit in the system or in any other police or firefighter-related pension fund. (c) (1) Should a former member entitled to a vested annuity provided for in § 24-10-611 reenter covered employment before becoming a retirant, he or she shall cease to be entitled to a vested annuity and shall become a member, with his or her previous credited service reactivated and to be increased by the reemployment. (2) (A) If a former member entitled to a vested annuity under § 24-10-611 reenters covered employment after becoming a retirant, the former member may again become a member with previous credited service restored and increased by the period of reemployment, but only if the former member: (i) Was not a participant in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701 ; (ii) Was a retirant for at least thirty (30) days; and (iii) Remains reemployed for at least twelve (12) months. (B) During the time of reemployment, the retirement benefits shall not be paid. (C) The former member may exercise the reemployment option under this subdivision (c)(2) one (1) time only. (D) (i) At the end of the period of reemployment, the retirement benefit will be recalculated using service time, including the reemployment service, and final average pay. (ii) However, the final average pay shall be the same final average pay used initially to calculate the retirement benefit unless the period of reemployment lasts at least thirty-six (36) months, in which case the final average pay will be recalculated as defined under § 24-10-102(17) . (d) (1) Upon the retirement of a member whose credited service results from employment with more than one (1) employer, the amount of his or her annuity shall be based upon his or her total credited service in force at the time of his or her retirement and his or her final average pay during the total credited service. (2) Each employer shall be responsible financially, within the provisions of this chapter, for the portion of the annuity based upon the service credited the member for employment with the employer, and the benefit program to be applied to each portion of credited service shall be the benefit program the employer had in effect at the time the member left the employment of the employer. (e) (1) Regardless of whether a retirant was a participant in the Local Police and Fire Deferred Retirement Option Plan or retired under § 24-10-606 , a retirant may return to employment after he or she retires if the retirant: (A) Was a retirant for at least ninety (90) days; (B) In a manner prescribed by the system, waives his or her right to any benefit accrual, including without limitation a benefit provided under § 24-10-607 ; and (C) Either: (i) Returns to a covered employer other than the covered employer or covered employers from which he or she retired; or (ii) (a) Returns to employment in an entry level position with the covered employer from which he or she retired. (b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator. (2) A member contribution shall not be required during the period of a retirant's reemployment under this section. (3) An employer shall report to the system, in a manner prescribed by the system, that a retirant is an employee of the employer no later than ten (10) calendar days from the date on which the retirant returns to employment with the employer under this section. (4) (A) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall charge an employer of a retirant who returns to employment under this section an employer contribution. (B) An employer shall remit to the system, in a time and manner prescribed by the system, the employer contribution charged to the employer by the board. (C) The board may assess penalties according to its rules against an employer who fails to comply with the reporting requirements described in subdivision (e)(3) of this section. (5) The employer contributions and applicable penalties charged or assessed under this section shall not be eligible for participation in funding with or the receipt of premium tax revenues provided under § 24-11-214 . (6) This subsection does not apply to a retirant who retires under the provisions of § 24-10-607 . (7) A retirant who retired before January 1, 2020, may return to employment as provided by this subsection. Amended by Act 2021, No. 344,§ 2, eff. 7/28/2021. Amended by Act 2021, No. 344,§ 1, eff. 7/28/2021. Amended by Act 2019, No. 988,§ 1, eff. 1/1/2020. Amended by Act 2013, No. 40,§ 7, eff. 2/6/2013. Acts 1981, No. 364, § 4; A.S.A. 1947, § 12-3804; Acts 1999, No. 710, § 1; 2003, No. 476, § 1; 2003, No. 1733, § 1. See Act 2019, No. 988, § 3.

(a) (1) When a member is no longer employed by any employer in covered employment, he or she shall cease to be a member of the Arkansas Local Police and Fire Retirement System. (2) Except as otherwise provided in this chapter, upon termination of his or her membership his or her credited service shall be forfeited by him or her. (3) If the person becomes reemployed by any employer in covered employment, he or she shall again become a member of the system under subdivision (a)(4) of this section. (4) Upon his or her reemployment, his or her credited service last forfeited by him or her shall be restored to his or her credit, but only if he or she returns to the system the amount, if any, he or she withdrew from the system, together with regular interest from the date of withdrawal to the date of repayment.

(1) When a member is no longer employed by any employer in covered employment, he or she shall cease to be a member of the Arkansas Local Police and Fire Retirement System.

(2) Except as otherwise provided in this chapter, upon termination of his or her membership his or her credited service shall be forfeited by him or her.

(3) If the person becomes reemployed by any employer in covered employment, he or she shall again become a member of the system under subdivision (a)(4) of this section.

(4) Upon his or her reemployment, his or her credited service last forfeited by him or her shall be restored to his or her credit, but only if he or she returns to the system the amount, if any, he or she withdrew from the system, together with regular interest from the date of withdrawal to the date of repayment.

(b) (1) Upon a member's retirement, he or she shall cease to be a member. (2) Except under subdivision (b)(3) of this section or as otherwise provided in this chapter, he or she shall not again become a member of the system. (3) Upon a member's retirement for a period of not less than ninety (90) days, the member may return to volunteer service with a covered employer and may continue to draw the retirant's annuity if the retirant desires to return to the covered employer and voluntarily waives further service credit in the system or in any other police or firefighter-related pension fund.

(1) Upon a member's retirement, he or she shall cease to be a member.

(2) Except under subdivision (b)(3) of this section or as otherwise provided in this chapter, he or she shall not again become a member of the system.

(3) Upon a member's retirement for a period of not less than ninety (90) days, the member may return to volunteer service with a covered employer and may continue to draw the retirant's annuity if the retirant desires to return to the covered employer and voluntarily waives further service credit in the system or in any other police or firefighter-related pension fund.

(c) (1) Should a former member entitled to a vested annuity provided for in § 24-10-611 reenter covered employment before becoming a retirant, he or she shall cease to be entitled to a vested annuity and shall become a member, with his or her previous credited service reactivated and to be increased by the reemployment. (2) (A) If a former member entitled to a vested annuity under § 24-10-611 reenters covered employment after becoming a retirant, the former member may again become a member with previous credited service restored and increased by the period of reemployment, but only if the former member: (i) Was not a participant in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701 ; (ii) Was a retirant for at least thirty (30) days; and (iii) Remains reemployed for at least twelve (12) months. (B) During the time of reemployment, the retirement benefits shall not be paid. (C) The former member may exercise the reemployment option under this subdivision (c)(2) one (1) time only. (D) (i) At the end of the period of reemployment, the retirement benefit will be recalculated using service time, including the reemployment service, and final average pay. (ii) However, the final average pay shall be the same final average pay used initially to calculate the retirement benefit unless the period of reemployment lasts at least thirty-six (36) months, in which case the final average pay will be recalculated as defined under § 24-10-102(17) .

(1) Should a former member entitled to a vested annuity provided for in § 24-10-611 reenter covered employment before becoming a retirant, he or she shall cease to be entitled to a vested annuity and shall become a member, with his or her previous credited service reactivated and to be increased by the reemployment.

(2) (A) If a former member entitled to a vested annuity under § 24-10-611 reenters covered employment after becoming a retirant, the former member may again become a member with previous credited service restored and increased by the period of reemployment, but only if the former member: (i) Was not a participant in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701 ; (ii) Was a retirant for at least thirty (30) days; and (iii) Remains reemployed for at least twelve (12) months. (B) During the time of reemployment, the retirement benefits shall not be paid. (C) The former member may exercise the reemployment option under this subdivision (c)(2) one (1) time only. (D) (i) At the end of the period of reemployment, the retirement benefit will be recalculated using service time, including the reemployment service, and final average pay. (ii) However, the final average pay shall be the same final average pay used initially to calculate the retirement benefit unless the period of reemployment lasts at least thirty-six (36) months, in which case the final average pay will be recalculated as defined under § 24-10-102(17) .

(A) If a former member entitled to a vested annuity under § 24-10-611 reenters covered employment after becoming a retirant, the former member may again become a member with previous credited service restored and increased by the period of reemployment, but only if the former member: (i) Was not a participant in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701 ; (ii) Was a retirant for at least thirty (30) days; and (iii) Remains reemployed for at least twelve (12) months.

(i) Was not a participant in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701 ;

(ii) Was a retirant for at least thirty (30) days; and

(iii) Remains reemployed for at least twelve (12) months.

(B) During the time of reemployment, the retirement benefits shall not be paid.

(C) The former member may exercise the reemployment option under this subdivision (c)(2) one (1) time only.

(D) (i) At the end of the period of reemployment, the retirement benefit will be recalculated using service time, including the reemployment service, and final average pay. (ii) However, the final average pay shall be the same final average pay used initially to calculate the retirement benefit unless the period of reemployment lasts at least thirty-six (36) months, in which case the final average pay will be recalculated as defined under § 24-10-102(17) .

(i) At the end of the period of reemployment, the retirement benefit will be recalculated using service time, including the reemployment service, and final average pay.

(ii) However, the final average pay shall be the same final average pay used initially to calculate the retirement benefit unless the period of reemployment lasts at least thirty-six (36) months, in which case the final average pay will be recalculated as defined under § 24-10-102(17) .

(d) (1) Upon the retirement of a member whose credited service results from employment with more than one (1) employer, the amount of his or her annuity shall be based upon his or her total credited service in force at the time of his or her retirement and his or her final average pay during the total credited service. (2) Each employer shall be responsible financially, within the provisions of this chapter, for the portion of the annuity based upon the service credited the member for employment with the employer, and the benefit program to be applied to each portion of credited service shall be the benefit program the employer had in effect at the time the member left the employment of the employer.

(1) Upon the retirement of a member whose credited service results from employment with more than one (1) employer, the amount of his or her annuity shall be based upon his or her total credited service in force at the time of his or her retirement and his or her final average pay during the total credited service.

(2) Each employer shall be responsible financially, within the provisions of this chapter, for the portion of the annuity based upon the service credited the member for employment with the employer, and the benefit program to be applied to each portion of credited service shall be the benefit program the employer had in effect at the time the member left the employment of the employer.

(e) (1) Regardless of whether a retirant was a participant in the Local Police and Fire Deferred Retirement Option Plan or retired under § 24-10-606 , a retirant may return to employment after he or she retires if the retirant: (A) Was a retirant for at least ninety (90) days; (B) In a manner prescribed by the system, waives his or her right to any benefit accrual, including without limitation a benefit provided under § 24-10-607 ; and (C) Either: (i) Returns to a covered employer other than the covered employer or covered employers from which he or she retired; or (ii) (a) Returns to employment in an entry level position with the covered employer from which he or she retired. (b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator. (2) A member contribution shall not be required during the period of a retirant's reemployment under this section. (3) An employer shall report to the system, in a manner prescribed by the system, that a retirant is an employee of the employer no later than ten (10) calendar days from the date on which the retirant returns to employment with the employer under this section. (4) (A) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall charge an employer of a retirant who returns to employment under this section an employer contribution. (B) An employer shall remit to the system, in a time and manner prescribed by the system, the employer contribution charged to the employer by the board. (C) The board may assess penalties according to its rules against an employer who fails to comply with the reporting requirements described in subdivision (e)(3) of this section. (5) The employer contributions and applicable penalties charged or assessed under this section shall not be eligible for participation in funding with or the receipt of premium tax revenues provided under § 24-11-214 . (6) This subsection does not apply to a retirant who retires under the provisions of § 24-10-607 . (7) A retirant who retired before January 1, 2020, may return to employment as provided by this subsection.

(1) Regardless of whether a retirant was a participant in the Local Police and Fire Deferred Retirement Option Plan or retired under § 24-10-606 , a retirant may return to employment after he or she retires if the retirant: (A) Was a retirant for at least ninety (90) days; (B) In a manner prescribed by the system, waives his or her right to any benefit accrual, including without limitation a benefit provided under § 24-10-607 ; and (C) Either: (i) Returns to a covered employer other than the covered employer or covered employers from which he or she retired; or (ii) (a) Returns to employment in an entry level position with the covered employer from which he or she retired. (b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator.

(A) Was a retirant for at least ninety (90) days;

(B) In a manner prescribed by the system, waives his or her right to any benefit accrual, including without limitation a benefit provided under § 24-10-607 ; and

(C) Either: (i) Returns to a covered employer other than the covered employer or covered employers from which he or she retired; or (ii) (a) Returns to employment in an entry level position with the covered employer from which he or she retired. (b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator.

(i) Returns to a covered employer other than the covered employer or covered employers from which he or she retired; or

(ii) (a) Returns to employment in an entry level position with the covered employer from which he or she retired. (b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator.

(a) Returns to employment in an entry level position with the covered employer from which he or she retired.

(b) Subdivision (e)(1)(C)(ii) (a) of this section does not apply to a retirant who returns to employment in a position appointed by a mayor, city manager, or city administrator.

(2) A member contribution shall not be required during the period of a retirant's reemployment under this section.

(3) An employer shall report to the system, in a manner prescribed by the system, that a retirant is an employee of the employer no later than ten (10) calendar days from the date on which the retirant returns to employment with the employer under this section.

(4) (A) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall charge an employer of a retirant who returns to employment under this section an employer contribution. (B) An employer shall remit to the system, in a time and manner prescribed by the system, the employer contribution charged to the employer by the board. (C) The board may assess penalties according to its rules against an employer who fails to comply with the reporting requirements described in subdivision (e)(3) of this section.

(A) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall charge an employer of a retirant who returns to employment under this section an employer contribution.

(B) An employer shall remit to the system, in a time and manner prescribed by the system, the employer contribution charged to the employer by the board.

(C) The board may assess penalties according to its rules against an employer who fails to comply with the reporting requirements described in subdivision (e)(3) of this section.

(5) The employer contributions and applicable penalties charged or assessed under this section shall not be eligible for participation in funding with or the receipt of premium tax revenues provided under § 24-11-214 .

(6) This subsection does not apply to a retirant who retires under the provisions of § 24-10-607 .

(7) A retirant who retired before January 1, 2020, may return to employment as provided by this subsection.

Amended by Act 2021, No. 344,§ 2, eff. 7/28/2021.

Amended by Act 2021, No. 344,§ 1, eff. 7/28/2021.

Amended by Act 2019, No. 988,§ 1, eff. 1/1/2020.

Amended by Act 2013, No. 40,§ 7, eff. 2/6/2013.

Acts 1981, No. 364, § 4; A.S.A. 1947, § 12-3804; Acts 1999, No. 710, § 1; 2003, No. 476, § 1; 2003, No. 1733, § 1.

See Act 2019, No. 988, § 3.
Ark. Code Ann. § 24-7-807 — AR Code / Title 24 / Chapter 7 / Subchapter 8 / Section 24-7-807
Participation in plan
Status: in_force

Participation in an alternate retirement plan established pursuant to this subchapter shall be as follows: (1) Any staff member employed or appointed by a college or university on or after the establishment of its alternate retirement plan shall participate in the plan or in the Arkansas Teacher Retirement System; (2) Any staff member employed or appointed by a college or university prior to July 1, 1969, who is a member of the retirement system shall continue in that membership or shall participate in the alternate retirement plan, as provided in this subchapter; (3) (A) Any staff member employed or appointed by a college or university with less than ten (10) years of member service in the retirement system may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university. (B) The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university within one (1) year after he or she becomes eligible to participate in the alternate retirement plan, except that, on or after July 1, 1993, until December 31, 1993, any staff member employed or appointed by a college or university who has less than ten (10) years of member service in the retirement system and who has not already so elected may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university. The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university. (C) All accumulated contributions to the credit of the staff member in the members' deposit account which is maintained pursuant to the provisions of § 24-7-406 shall be returned to the staff member, and all of his or her credited service under the retirement system shall be cancelled; (4) (A) (i) Any staff member employed or appointed by a college or university with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining sixty (60) years of age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement. (B) The election authorized under subdivision (4)(A) of this section shall be made in writing and filed with the retirement system and with the disbursing officer of the employing college or university on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan. (C) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of sixty (60) years of age; (5) (A) (i) Any Division of Higher Education employee who transferred from another state department or division covered by a state-supported retirement system may elect to participate in an alternate retirement plan. (ii) The employee shall file written notice of his or her election with the Commissioner of the Division of Higher Education. (B) (i) Any division employee with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining the normal retirement age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement. (C) (i) The election authorized under this subdivision (5) shall be made in writing and filed with the retirement system and with the commissioner on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan. (ii) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of normal retirement age and on his or her retirement from covered employment. (D) (i) Effective July 1, 2001, staff members who elect to participate in an alternate retirement plan may elect to become members of the retirement system. (ii) Service credit forfeited while a member of an alternate retirement plan cannot be established in the retirement system. (iii) The election to withdraw from the alternate retirement plan and become a member of the retirement system shall be made by December 31, 2001, and notice of the election shall be made in writing and filed with the retirement system and the disbursing officer of the employing college or university by December 31, 2001. (6) (A) Each college or university shall provide to each new employee of the college or university a written document explaining to the employee each of his or her retirement plan options. (B) The written document shall contain a line for the employee's signature verifying that he or she understands his or her retirement plan options. (C) The signed document shall be added to the employee's personnel file. Amended by Act 2023, No. 786,§ 52, eff. 4/12/2023. Amended by Act 2019, No. 910,§ 2376, eff. 7/1/2019. Acts 1967, No. 436, § 4; 1969, No. 232, § 1; 1969, No. 622, § 1; 1975, No. 235, § 1; 1979, No. 227, § 1; A.S.A. 1947, § 80-1460; Acts 1991, No. 511, § 5; 1993, No. 299, § 1; 1995, No. 332, § 1; 1997, No. 944, § 1; 1997, No. 1053, § 10; 1999, No. 908, § 1; 2001, No. 1784, § 1; 2007, No. 831, § 1.

Participation in an alternate retirement plan established pursuant to this subchapter shall be as follows:

(1) Any staff member employed or appointed by a college or university on or after the establishment of its alternate retirement plan shall participate in the plan or in the Arkansas Teacher Retirement System;

(2) Any staff member employed or appointed by a college or university prior to July 1, 1969, who is a member of the retirement system shall continue in that membership or shall participate in the alternate retirement plan, as provided in this subchapter;

(3) (A) Any staff member employed or appointed by a college or university with less than ten (10) years of member service in the retirement system may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university. (B) The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university within one (1) year after he or she becomes eligible to participate in the alternate retirement plan, except that, on or after July 1, 1993, until December 31, 1993, any staff member employed or appointed by a college or university who has less than ten (10) years of member service in the retirement system and who has not already so elected may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university. The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university. (C) All accumulated contributions to the credit of the staff member in the members' deposit account which is maintained pursuant to the provisions of § 24-7-406 shall be returned to the staff member, and all of his or her credited service under the retirement system shall be cancelled;

(A) Any staff member employed or appointed by a college or university with less than ten (10) years of member service in the retirement system may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university.

(B) The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university within one (1) year after he or she becomes eligible to participate in the alternate retirement plan, except that, on or after July 1, 1993, until December 31, 1993, any staff member employed or appointed by a college or university who has less than ten (10) years of member service in the retirement system and who has not already so elected may elect to terminate his or her membership in the retirement system and participate in the alternate retirement plan established by the employing college or university. The election shall be in writing and filed with the retirement system and the disbursing officer of the employing college or university.

(C) All accumulated contributions to the credit of the staff member in the members' deposit account which is maintained pursuant to the provisions of § 24-7-406 shall be returned to the staff member, and all of his or her credited service under the retirement system shall be cancelled;

(4) (A) (i) Any staff member employed or appointed by a college or university with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining sixty (60) years of age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement. (B) The election authorized under subdivision (4)(A) of this section shall be made in writing and filed with the retirement system and with the disbursing officer of the employing college or university on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan. (C) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of sixty (60) years of age;

(A) (i) Any staff member employed or appointed by a college or university with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining sixty (60) years of age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement.

(i) Any staff member employed or appointed by a college or university with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining sixty (60) years of age and on his or her retirement from covered employment.

(ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement.

(B) The election authorized under subdivision (4)(A) of this section shall be made in writing and filed with the retirement system and with the disbursing officer of the employing college or university on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan.

(C) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of sixty (60) years of age;

(5) (A) (i) Any Division of Higher Education employee who transferred from another state department or division covered by a state-supported retirement system may elect to participate in an alternate retirement plan. (ii) The employee shall file written notice of his or her election with the Commissioner of the Division of Higher Education. (B) (i) Any division employee with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining the normal retirement age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement. (C) (i) The election authorized under this subdivision (5) shall be made in writing and filed with the retirement system and with the commissioner on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan. (ii) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of normal retirement age and on his or her retirement from covered employment. (D) (i) Effective July 1, 2001, staff members who elect to participate in an alternate retirement plan may elect to become members of the retirement system. (ii) Service credit forfeited while a member of an alternate retirement plan cannot be established in the retirement system. (iii) The election to withdraw from the alternate retirement plan and become a member of the retirement system shall be made by December 31, 2001, and notice of the election shall be made in writing and filed with the retirement system and the disbursing officer of the employing college or university by December 31, 2001.

(A) (i) Any Division of Higher Education employee who transferred from another state department or division covered by a state-supported retirement system may elect to participate in an alternate retirement plan. (ii) The employee shall file written notice of his or her election with the Commissioner of the Division of Higher Education.

(i) Any Division of Higher Education employee who transferred from another state department or division covered by a state-supported retirement system may elect to participate in an alternate retirement plan.

(ii) The employee shall file written notice of his or her election with the Commissioner of the Division of Higher Education.

(B) (i) Any division employee with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining the normal retirement age and on his or her retirement from covered employment. (ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement.

(i) Any division employee with five (5) or more years of actual service who elects to participate only in the alternate retirement plan and who has left his or her contributions in the retirement system shall be eligible to receive an annuity on or after attaining the normal retirement age and on his or her retirement from covered employment.

(ii) The amount of the annuity shall be determined by the benefit formula of the retirement system at the time of his or her retirement.

(C) (i) The election authorized under this subdivision (5) shall be made in writing and filed with the retirement system and with the commissioner on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan. (ii) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of normal retirement age and on his or her retirement from covered employment.

(i) The election authorized under this subdivision (5) shall be made in writing and filed with the retirement system and with the commissioner on or before July 1 of the year in which the person makes the election to participate in the alternate retirement plan.

(ii) The person's annuity shall begin on the first day of the month following the date his or her application for retirement is filed with the board of trustees on or after his or her attainment of normal retirement age and on his or her retirement from covered employment.

(D) (i) Effective July 1, 2001, staff members who elect to participate in an alternate retirement plan may elect to become members of the retirement system. (ii) Service credit forfeited while a member of an alternate retirement plan cannot be established in the retirement system. (iii) The election to withdraw from the alternate retirement plan and become a member of the retirement system shall be made by December 31, 2001, and notice of the election shall be made in writing and filed with the retirement system and the disbursing officer of the employing college or university by December 31, 2001.

(i) Effective July 1, 2001, staff members who elect to participate in an alternate retirement plan may elect to become members of the retirement system.

(ii) Service credit forfeited while a member of an alternate retirement plan cannot be established in the retirement system.

(iii) The election to withdraw from the alternate retirement plan and become a member of the retirement system shall be made by December 31, 2001, and notice of the election shall be made in writing and filed with the retirement system and the disbursing officer of the employing college or university by December 31, 2001.

(6) (A) Each college or university shall provide to each new employee of the college or university a written document explaining to the employee each of his or her retirement plan options. (B) The written document shall contain a line for the employee's signature verifying that he or she understands his or her retirement plan options. (C) The signed document shall be added to the employee's personnel file.

(A) Each college or university shall provide to each new employee of the college or university a written document explaining to the employee each of his or her retirement plan options.

(B) The written document shall contain a line for the employee's signature verifying that he or she understands his or her retirement plan options.

(C) The signed document shall be added to the employee's personnel file.

Amended by Act 2023, No. 786,§ 52, eff. 4/12/2023.

Amended by Act 2019, No. 910,§ 2376, eff. 7/1/2019.

Acts 1967, No. 436, § 4; 1969, No. 232, § 1; 1969, No. 622, § 1; 1975, No. 235, § 1; 1979, No. 227, § 1; A.S.A. 1947, § 80-1460; Acts 1991, No. 511, § 5; 1993, No. 299, § 1; 1995, No. 332, § 1; 1997, No. 944, § 1; 1997, No. 1053, § 10; 1999, No. 908, § 1; 2001, No. 1784, § 1; 2007, No. 831, § 1.
Ark. Code Ann. § 24-4-301 — AR Code / Title 24 / Chapter 4 / Subchapter 3 / Section 24-4-301
Membership as condition to employment
Status: in_force

(a) (1) Except as set forth in this subsection, all state employees, as defined in § 24-4-101(18) and (46) , shall become members of the Arkansas Public Employees' Retirement System as a condition of employment. (2) (A) (i) (a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. (b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (ii) (a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time. (b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (B) Any member of the General Assembly who was serving in that capacity at the commencement of the Eighty-fourth General Assembly and who had elected not to participate in the Arkansas Public Employees' Retirement System under the provisions of § 24-4-301(a)(2)(A) prior to its amendment by Acts 2003, No. 1403, may elect to participate and receive current credit in the system. The member is eligible to receive prior service credit for the time he or she was first elected to the General Assembly until the date of election to participate provided that: (i) The member pays, or causes to be paid, all employer contributions based on the employer's normal cost from the most recent actuarial valuation and the compensation that would have been paid had he or she been a member of the system during that time and regular interest on the employer contributions computed from the date the service was rendered to the date payment is received by the system; (ii) The payment shall be made in a lump sum; and (iii) The member may pay for all prior service, or a portion of the prior service, consisting of one-year increments. (b) All county employees, as defined in § 24-4-101(15), (18), and (28) , who are in the employ of a county July 1, 1959, and all persons who became or become county employees in the employ of a county after June 30, 1959, shall become members of the system as a condition of continuing in or obtaining county employment, as the case may be. (c) All municipal employees, as defined in § 24-4-101(18), (25), and (28) , who are in the employ of a municipality as of the date the municipality becomes a participating public employer and all persons who become municipal employees in the employ of a municipality on or after the date it becomes a participating public employer shall become members of the system as a condition of continuing in or entering the employ of the municipality. However, no employee shall be included whose compensation is less than one thousand five hundred dollars ($1,500) per annum. (d) All nonstate employees, as defined in § 24-4-101(18), (23), (28), and (34) , who are in the employ of a nonstate employer as of the date the nonstate employer becomes a participating public employer and all persons who become nonstate employees in the employ of a nonstate employer on or after the date it becomes a participating public employer shall become members of the system as a condition of continuing in or entering the employ of the nonstate employer. (e) (1) From and after July 1, 1973, all elected and appointed state and county constitutional officials shall be or become members of the system. (2) Any current member of the system who has service prior to July 1, 1973, as an elected or appointed constitutional official, which service is not credited to his or her retirement account because the member elected not to become a member of the system during that time, shall receive credited service for that time, but only if: (A) The person is a contributing member of the system on the date the service is purchased and the person has at the time of purchase at least two (2) years of credited service in the system; (B) The member buys all of the service rendered during the period of time in which he or she did not participate in the system; and (C) The member pays or causes to be paid all employee contributions at the rate and on the compensation that would have been paid had he or she been a member of the system during that period of time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system. Amended by Act 2019, No. 448,§ 2, eff. 3/13/2019. Acts 1957, No. 177, § 6; 1959, No. 42, § 6; 1961, No. 64, § 3; 1973, No. 586, § 1; 1975, No. 577, § 1; A.S.A. 1947, § 12-2506; Acts 1987, No. 57, § 1; 1997, No. 299, § 12; 1999, No. 705, § 1; 2001, No. 151, § 16; 2003, No. 1403, § 1; 2007, No. 176, § 4.

(a) (1) Except as set forth in this subsection, all state employees, as defined in § 24-4-101(18) and (46) , shall become members of the Arkansas Public Employees' Retirement System as a condition of employment. (2) (A) (i) (a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. (b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (ii) (a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time. (b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (B) Any member of the General Assembly who was serving in that capacity at the commencement of the Eighty-fourth General Assembly and who had elected not to participate in the Arkansas Public Employees' Retirement System under the provisions of § 24-4-301(a)(2)(A) prior to its amendment by Acts 2003, No. 1403, may elect to participate and receive current credit in the system. The member is eligible to receive prior service credit for the time he or she was first elected to the General Assembly until the date of election to participate provided that: (i) The member pays, or causes to be paid, all employer contributions based on the employer's normal cost from the most recent actuarial valuation and the compensation that would have been paid had he or she been a member of the system during that time and regular interest on the employer contributions computed from the date the service was rendered to the date payment is received by the system; (ii) The payment shall be made in a lump sum; and (iii) The member may pay for all prior service, or a portion of the prior service, consisting of one-year increments.

(1) Except as set forth in this subsection, all state employees, as defined in § 24-4-101(18) and (46) , shall become members of the Arkansas Public Employees' Retirement System as a condition of employment.

(2) (A) (i) (a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. (b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (ii) (a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time. (b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (B) Any member of the General Assembly who was serving in that capacity at the commencement of the Eighty-fourth General Assembly and who had elected not to participate in the Arkansas Public Employees' Retirement System under the provisions of § 24-4-301(a)(2)(A) prior to its amendment by Acts 2003, No. 1403, may elect to participate and receive current credit in the system. The member is eligible to receive prior service credit for the time he or she was first elected to the General Assembly until the date of election to participate provided that: (i) The member pays, or causes to be paid, all employer contributions based on the employer's normal cost from the most recent actuarial valuation and the compensation that would have been paid had he or she been a member of the system during that time and regular interest on the employer contributions computed from the date the service was rendered to the date payment is received by the system; (ii) The payment shall be made in a lump sum; and (iii) The member may pay for all prior service, or a portion of the prior service, consisting of one-year increments.

(A) (i) (a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. (b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits. (ii) (a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time. (b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits.

(i) (a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. (b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits.

(a) A person who is first elected as a member of the General Assembly on or after July 1, 1999, shall have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials.

(b) However, if the member's only service under an Arkansas retirement plan, as provided under § 24-2-401 et seq., is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits.

(ii) (a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time. (b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits.

(a) A person who was first elected as a member of the General Assembly before July 1, 1999, may elect to have his or her employment covered as a regular state employee member in lieu of coverage under special provisions relating to General Assembly members or to elected officials. The member may make the election at any time.

(b) However, if the member's only service under an Arkansas retirement plan is service as a member of the General Assembly, then the member must have ten (10) or more years of actual service to be eligible for benefits.

(B) Any member of the General Assembly who was serving in that capacity at the commencement of the Eighty-fourth General Assembly and who had elected not to participate in the Arkansas Public Employees' Retirement System under the provisions of § 24-4-301(a)(2)(A) prior to its amendment by Acts 2003, No. 1403, may elect to participate and receive current credit in the system. The member is eligible to receive prior service credit for the time he or she was first elected to the General Assembly until the date of election to participate provided that: (i) The member pays, or causes to be paid, all employer contributions based on the employer's normal cost from the most recent actuarial valuation and the compensation that would have been paid had he or she been a member of the system during that time and regular interest on the employer contributions computed from the date the service was rendered to the date payment is received by the system; (ii) The payment shall be made in a lump sum; and (iii) The member may pay for all prior service, or a portion of the prior service, consisting of one-year increments.

(i) The member pays, or causes to be paid, all employer contributions based on the employer's normal cost from the most recent actuarial valuation and the compensation that would have been paid had he or she been a member of the system during that time and regular interest on the employer contributions computed from the date the service was rendered to the date payment is received by the system;

(ii) The payment shall be made in a lump sum; and

(iii) The member may pay for all prior service, or a portion of the prior service, consisting of one-year increments.

(b) All county employees, as defined in § 24-4-101(15), (18), and (28) , who are in the employ of a county July 1, 1959, and all persons who became or become county employees in the employ of a county after June 30, 1959, shall become members of the system as a condition of continuing in or obtaining county employment, as the case may be.

(c) All municipal employees, as defined in § 24-4-101(18), (25), and (28) , who are in the employ of a municipality as of the date the municipality becomes a participating public employer and all persons who become municipal employees in the employ of a municipality on or after the date it becomes a participating public employer shall become members of the system as a condition of continuing in or entering the employ of the municipality. However, no employee shall be included whose compensation is less than one thousand five hundred dollars ($1,500) per annum.

(d) All nonstate employees, as defined in § 24-4-101(18), (23), (28), and (34) , who are in the employ of a nonstate employer as of the date the nonstate employer becomes a participating public employer and all persons who become nonstate employees in the employ of a nonstate employer on or after the date it becomes a participating public employer shall become members of the system as a condition of continuing in or entering the employ of the nonstate employer.

(e) (1) From and after July 1, 1973, all elected and appointed state and county constitutional officials shall be or become members of the system. (2) Any current member of the system who has service prior to July 1, 1973, as an elected or appointed constitutional official, which service is not credited to his or her retirement account because the member elected not to become a member of the system during that time, shall receive credited service for that time, but only if: (A) The person is a contributing member of the system on the date the service is purchased and the person has at the time of purchase at least two (2) years of credited service in the system; (B) The member buys all of the service rendered during the period of time in which he or she did not participate in the system; and (C) The member pays or causes to be paid all employee contributions at the rate and on the compensation that would have been paid had he or she been a member of the system during that period of time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.

(1) From and after July 1, 1973, all elected and appointed state and county constitutional officials shall be or become members of the system.

(2) Any current member of the system who has service prior to July 1, 1973, as an elected or appointed constitutional official, which service is not credited to his or her retirement account because the member elected not to become a member of the system during that time, shall receive credited service for that time, but only if: (A) The person is a contributing member of the system on the date the service is purchased and the person has at the time of purchase at least two (2) years of credited service in the system; (B) The member buys all of the service rendered during the period of time in which he or she did not participate in the system; and (C) The member pays or causes to be paid all employee contributions at the rate and on the compensation that would have been paid had he or she been a member of the system during that period of time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.

(A) The person is a contributing member of the system on the date the service is purchased and the person has at the time of purchase at least two (2) years of credited service in the system;

(B) The member buys all of the service rendered during the period of time in which he or she did not participate in the system; and

(C) The member pays or causes to be paid all employee contributions at the rate and on the compensation that would have been paid had he or she been a member of the system during that period of time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.

Amended by Act 2019, No. 448,§ 2, eff. 3/13/2019.

Acts 1957, No. 177, § 6; 1959, No. 42, § 6; 1961, No. 64, § 3; 1973, No. 586, § 1; 1975, No. 577, § 1; A.S.A. 1947, § 12-2506; Acts 1987, No. 57, § 1; 1997, No. 299, § 12; 1999, No. 705, § 1; 2001, No. 151, § 16; 2003, No. 1403, § 1; 2007, No. 176, § 4.
Ark. Code Ann. § 24-6-216 — AR Code / Title 24 / Chapter 6 / Subchapter 2 / Section 24-6-216
Benefits - Survivor's pension upon death of retirant
Status: in_force

(a) (1) In the event a retirant dies and leaves a spouse to whom the retirant was married, the surviving spouse shall receive a pension equal to seventy-five percent (75%) of the retirant's pension, but only if the spouse has under care the retirant's dependent children whose dates of birth are prior to the retirant's date of retirement. (2) When the spouse no longer has under care such a dependent child, the pension shall be reduced to fifty percent (50%) of the retirant's pension. (3) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate. (b) (1) In the event a retirant dies and leaves a spouse to whom he or she was married and who does not have under care the retirant's dependent children, the surviving spouse shall receive a pension equal to fifty percent (50%) of the retirant's pension. (2) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate. (c) (1) In the event a retirant dies and does not leave a spouse eligible for a pension as provided for in this section, or in the event the surviving spouse dies or remarries and the pension provided for in subsection (a) of this section is terminated, and there is surviving the retirant a dependent child, or children, each such child shall receive a pension of an equal share of seventy-five percent (75%) of the retirant's pension. (2) In no case shall the pension payable to any such child exceed twenty-five percent (25%) of the retirant's pension. (d) (1) (A) A child shall be a dependent child until his or her death, his or her marriage, or his or her attainment of eighteen (18) years of age, whichever occurs first. (B) (i) However, the age-eighteen maximum shall be extended as long as the child is continuously enrolled as a full-time student at an accredited secondary school or accredited postsecondary institution of higher education, but in no event beyond his or her attainment of twenty-three (23) years of age. (ii) The eighteen-year maximum shall also be extended for any child who has been deemed physically or mentally incompetent by a court with jurisdiction over the individual or by the Board of Trustees of the State Police Retirement System, for as long as the incompetency exists. (2) Once a child ceases to be dependent, his or her annuity shall terminate and there shall be a redetermination of the amount payable to any remaining dependent children. (3) The board is authorized to establish through rules a means of verification of enrollment in a secondary school or postsecondary institution of higher education by a surviving dependent child under this section for purposes of pension benefits. (e) (1) If a surviving spouse who is receiving survivor's benefits under this section remarries, and the benefits are discontinued, and the surviving spouse again becomes unmarried, benefits provided in this section for the spouse shall be resumed. (2) Benefits shall be resumed for any surviving spouse who had remarried but is unmarried on that date, but no such benefits will be paid the surviving spouse for any period prior to July 1, 1991. (f) Before the date his or her first annuity payment becomes due, but not thereafter, a noncontributory Tier I member may elect to: (1) Receive his or her annuity as a straight life annuity; or (2) (A) Have his or her annuity reduced and nominate a beneficiary in accordance with the option provisions of § 24-6-408 . (B) However, in the instance of Option B75 under § 24-6-408(a)(4) , the reduced annuity shall be seventy-eight percent (78%) if the retirant's age and his or her beneficiary's age are the same on the first payment due date. The reduced annuity of seventy-eight percent (78%) shall be: (i) Decreased by three-quarters of one percent (0.75%) for each year the beneficiary's age is less than the retirant's age; or (ii) Increased by three-quarters of one percent (0.75%), up to a maximum of ninety percent (90%), for each year that the beneficiary's age is more than the retirant's age. Amended by Act 2019, No. 315,§ 2874, eff. 7/24/2019. Acts 1951, No. 311, § 5; 1953, No. 309, § 1; 1957, No. 308, § 1; 1959, No. 484, § 5; 1977, No. 403, § 1; 1981, No. 909, § 8; A.S.A. 1947, § 42-455; Acts 1989, No. 529, § 1; 1991, No. 387, § 1; 1995, No. 731, § 1; 2001, No. 151, § 61; 2009, No. 742, § 3.

(a) (1) In the event a retirant dies and leaves a spouse to whom the retirant was married, the surviving spouse shall receive a pension equal to seventy-five percent (75%) of the retirant's pension, but only if the spouse has under care the retirant's dependent children whose dates of birth are prior to the retirant's date of retirement. (2) When the spouse no longer has under care such a dependent child, the pension shall be reduced to fifty percent (50%) of the retirant's pension. (3) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate.

(1) In the event a retirant dies and leaves a spouse to whom the retirant was married, the surviving spouse shall receive a pension equal to seventy-five percent (75%) of the retirant's pension, but only if the spouse has under care the retirant's dependent children whose dates of birth are prior to the retirant's date of retirement.

(2) When the spouse no longer has under care such a dependent child, the pension shall be reduced to fifty percent (50%) of the retirant's pension.

(3) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate.

(b) (1) In the event a retirant dies and leaves a spouse to whom he or she was married and who does not have under care the retirant's dependent children, the surviving spouse shall receive a pension equal to fifty percent (50%) of the retirant's pension. (2) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate.

(1) In the event a retirant dies and leaves a spouse to whom he or she was married and who does not have under care the retirant's dependent children, the surviving spouse shall receive a pension equal to fifty percent (50%) of the retirant's pension.

(2) Upon the spouse's remarriage or death, the pension provided for in this subsection shall terminate.

(c) (1) In the event a retirant dies and does not leave a spouse eligible for a pension as provided for in this section, or in the event the surviving spouse dies or remarries and the pension provided for in subsection (a) of this section is terminated, and there is surviving the retirant a dependent child, or children, each such child shall receive a pension of an equal share of seventy-five percent (75%) of the retirant's pension. (2) In no case shall the pension payable to any such child exceed twenty-five percent (25%) of the retirant's pension.

(1) In the event a retirant dies and does not leave a spouse eligible for a pension as provided for in this section, or in the event the surviving spouse dies or remarries and the pension provided for in subsection (a) of this section is terminated, and there is surviving the retirant a dependent child, or children, each such child shall receive a pension of an equal share of seventy-five percent (75%) of the retirant's pension.

(2) In no case shall the pension payable to any such child exceed twenty-five percent (25%) of the retirant's pension.

(d) (1) (A) A child shall be a dependent child until his or her death, his or her marriage, or his or her attainment of eighteen (18) years of age, whichever occurs first. (B) (i) However, the age-eighteen maximum shall be extended as long as the child is continuously enrolled as a full-time student at an accredited secondary school or accredited postsecondary institution of higher education, but in no event beyond his or her attainment of twenty-three (23) years of age. (ii) The eighteen-year maximum shall also be extended for any child who has been deemed physically or mentally incompetent by a court with jurisdiction over the individual or by the Board of Trustees of the State Police Retirement System, for as long as the incompetency exists. (2) Once a child ceases to be dependent, his or her annuity shall terminate and there shall be a redetermination of the amount payable to any remaining dependent children. (3) The board is authorized to establish through rules a means of verification of enrollment in a secondary school or postsecondary institution of higher education by a surviving dependent child under this section for purposes of pension benefits.

(1) (A) A child shall be a dependent child until his or her death, his or her marriage, or his or her attainment of eighteen (18) years of age, whichever occurs first. (B) (i) However, the age-eighteen maximum shall be extended as long as the child is continuously enrolled as a full-time student at an accredited secondary school or accredited postsecondary institution of higher education, but in no event beyond his or her attainment of twenty-three (23) years of age. (ii) The eighteen-year maximum shall also be extended for any child who has been deemed physically or mentally incompetent by a court with jurisdiction over the individual or by the Board of Trustees of the State Police Retirement System, for as long as the incompetency exists.

(A) A child shall be a dependent child until his or her death, his or her marriage, or his or her attainment of eighteen (18) years of age, whichever occurs first.

(B) (i) However, the age-eighteen maximum shall be extended as long as the child is continuously enrolled as a full-time student at an accredited secondary school or accredited postsecondary institution of higher education, but in no event beyond his or her attainment of twenty-three (23) years of age. (ii) The eighteen-year maximum shall also be extended for any child who has been deemed physically or mentally incompetent by a court with jurisdiction over the individual or by the Board of Trustees of the State Police Retirement System, for as long as the incompetency exists.

(i) However, the age-eighteen maximum shall be extended as long as the child is continuously enrolled as a full-time student at an accredited secondary school or accredited postsecondary institution of higher education, but in no event beyond his or her attainment of twenty-three (23) years of age.

(ii) The eighteen-year maximum shall also be extended for any child who has been deemed physically or mentally incompetent by a court with jurisdiction over the individual or by the Board of Trustees of the State Police Retirement System, for as long as the incompetency exists.

(2) Once a child ceases to be dependent, his or her annuity shall terminate and there shall be a redetermination of the amount payable to any remaining dependent children.

(3) The board is authorized to establish through rules a means of verification of enrollment in a secondary school or postsecondary institution of higher education by a surviving dependent child under this section for purposes of pension benefits.

(e) (1) If a surviving spouse who is receiving survivor's benefits under this section remarries, and the benefits are discontinued, and the surviving spouse again becomes unmarried, benefits provided in this section for the spouse shall be resumed. (2) Benefits shall be resumed for any surviving spouse who had remarried but is unmarried on that date, but no such benefits will be paid the surviving spouse for any period prior to July 1, 1991.

(1) If a surviving spouse who is receiving survivor's benefits under this section remarries, and the benefits are discontinued, and the surviving spouse again becomes unmarried, benefits provided in this section for the spouse shall be resumed.

(2) Benefits shall be resumed for any surviving spouse who had remarried but is unmarried on that date, but no such benefits will be paid the surviving spouse for any period prior to July 1, 1991.

(f) Before the date his or her first annuity payment becomes due, but not thereafter, a noncontributory Tier I member may elect to: (1) Receive his or her annuity as a straight life annuity; or (2) (A) Have his or her annuity reduced and nominate a beneficiary in accordance with the option provisions of § 24-6-408 . (B) However, in the instance of Option B75 under § 24-6-408(a)(4) , the reduced annuity shall be seventy-eight percent (78%) if the retirant's age and his or her beneficiary's age are the same on the first payment due date. The reduced annuity of seventy-eight percent (78%) shall be: (i) Decreased by three-quarters of one percent (0.75%) for each year the beneficiary's age is less than the retirant's age; or (ii) Increased by three-quarters of one percent (0.75%), up to a maximum of ninety percent (90%), for each year that the beneficiary's age is more than the retirant's age.

(1) Receive his or her annuity as a straight life annuity; or

(2) (A) Have his or her annuity reduced and nominate a beneficiary in accordance with the option provisions of § 24-6-408 . (B) However, in the instance of Option B75 under § 24-6-408(a)(4) , the reduced annuity shall be seventy-eight percent (78%) if the retirant's age and his or her beneficiary's age are the same on the first payment due date. The reduced annuity of seventy-eight percent (78%) shall be: (i) Decreased by three-quarters of one percent (0.75%) for each year the beneficiary's age is less than the retirant's age; or (ii) Increased by three-quarters of one percent (0.75%), up to a maximum of ninety percent (90%), for each year that the beneficiary's age is more than the retirant's age.

(A) Have his or her annuity reduced and nominate a beneficiary in accordance with the option provisions of § 24-6-408 .

(B) However, in the instance of Option B75 under § 24-6-408(a)(4) , the reduced annuity shall be seventy-eight percent (78%) if the retirant's age and his or her beneficiary's age are the same on the first payment due date. The reduced annuity of seventy-eight percent (78%) shall be: (i) Decreased by three-quarters of one percent (0.75%) for each year the beneficiary's age is less than the retirant's age; or (ii) Increased by three-quarters of one percent (0.75%), up to a maximum of ninety percent (90%), for each year that the beneficiary's age is more than the retirant's age.

(i) Decreased by three-quarters of one percent (0.75%) for each year the beneficiary's age is less than the retirant's age; or

(ii) Increased by three-quarters of one percent (0.75%), up to a maximum of ninety percent (90%), for each year that the beneficiary's age is more than the retirant's age.

Amended by Act 2019, No. 315,§ 2874, eff. 7/24/2019.

Acts 1951, No. 311, § 5; 1953, No. 309, § 1; 1957, No. 308, § 1; 1959, No. 484, § 5; 1977, No. 403, § 1; 1981, No. 909, § 8; A.S.A. 1947, § 42-455; Acts 1989, No. 529, § 1; 1991, No. 387, § 1; 1995, No. 731, § 1; 2001, No. 151, § 61; 2009, No. 742, § 3.
Ark. Code Ann. § 24-11-204 — AR Code / Title 24 / Chapter 11 / Subchapter 2 / Section 24-11-204
General financial objective of plan
Status: in_force

(a) The general financial objective of each plan shall be to establish and receive contributions, expressed as percentages of active employee payroll or, in the case of volunteer fire department pension plans, expressed in dollar amounts, which will remain approximately level from year to year and which will not have to be increased for future generations of citizens. (b) More specifically, contributions received each year shall be sufficient both: (1) To fully cover the costs of benefit commitments being made to employees for their service being rendered in each year; and (2) To make a level payment which, if paid annually over a reasonable period of future years, will fully cover the unfunded costs of benefit commitments for service previously rendered. Acts 1979, No. 700, § 3; 1981, No. 286, § 3; A.S.A. 1947, § 19-5703.

(a) The general financial objective of each plan shall be to establish and receive contributions, expressed as percentages of active employee payroll or, in the case of volunteer fire department pension plans, expressed in dollar amounts, which will remain approximately level from year to year and which will not have to be increased for future generations of citizens.

(b) More specifically, contributions received each year shall be sufficient both: (1) To fully cover the costs of benefit commitments being made to employees for their service being rendered in each year; and (2) To make a level payment which, if paid annually over a reasonable period of future years, will fully cover the unfunded costs of benefit commitments for service previously rendered.

(1) To fully cover the costs of benefit commitments being made to employees for their service being rendered in each year; and

(2) To make a level payment which, if paid annually over a reasonable period of future years, will fully cover the unfunded costs of benefit commitments for service previously rendered.

Acts 1979, No. 700, § 3; 1981, No. 286, § 3; A.S.A. 1947, § 19-5703.
Ark. Code Ann. § 24-12-122 — AR Code / Title 24 / Chapter 12 / Subchapter 1 / Section 24-12-122
Deputy city clerks
Status: in_force

(a) Any deputy city clerk in a city of the first class who shall have served twenty (20) years as deputy city clerk, who shall have attained the age of sixty-five (65), and who shall retire from office or be succeeded by another deputy city clerk may receive for the remainder of his or her life the retirement pay provided for in this section. (b) (1) Any deputy city clerk who shall retire or be succeeded by another deputy city clerk within the provisions of this section may be paid monthly a sum equal to one-half (½) of the monthly salary received by him or her during the last preceding year of his or her service. (2) The retirement pay shall be paid by the city from its general fund account when appropriated for that purpose by the governing body of the city. Acts 1959, No. 271, §§ 1, 2; 1973, No. 118, § 1; A.S.A. 1947, §§ 19-1033, 19-1034.

(a) Any deputy city clerk in a city of the first class who shall have served twenty (20) years as deputy city clerk, who shall have attained the age of sixty-five (65), and who shall retire from office or be succeeded by another deputy city clerk may receive for the remainder of his or her life the retirement pay provided for in this section.

(b) (1) Any deputy city clerk who shall retire or be succeeded by another deputy city clerk within the provisions of this section may be paid monthly a sum equal to one-half (½) of the monthly salary received by him or her during the last preceding year of his or her service. (2) The retirement pay shall be paid by the city from its general fund account when appropriated for that purpose by the governing body of the city.

(1) Any deputy city clerk who shall retire or be succeeded by another deputy city clerk within the provisions of this section may be paid monthly a sum equal to one-half (½) of the monthly salary received by him or her during the last preceding year of his or her service.

(2) The retirement pay shall be paid by the city from its general fund account when appropriated for that purpose by the governing body of the city.

Acts 1959, No. 271, §§ 1, 2; 1973, No. 118, § 1; A.S.A. 1947, §§ 19-1033, 19-1034.
Ark. Code Ann. § 24-8-405 — AR Code / Title 24 / Chapter 8 / Subchapter 4 / Section 24-8-405
Eligibility for benefits - Regular and disability retirement - Surviving spouses' rights
Status: in_force

(a) A judge of a municipal court upon reaching sixty-eight (68) years of age and having served for a minimum of seven (7) years immediately prior to retirement may retire. (b) (1) If incapacitating illness or disability should occur during any term to which a judge has been elected, he or she shall be eligible to retire at one-half (½) pay as provided in this section. (2) The retirement salary to be paid to the retiree shall be one-half (½) of the salary being paid at the time of retirement for and during his or her natural life. (c) Notice of retirement shall be in writing and sent to the chair of the board of trustees who, upon finding that the applicant meets the requirements of this subchapter, shall authorize the secretary of the board to issue vouchers in payment to the applicant in accordance with the provisions of this subchapter for and during the natural life of the applicant. (d) (1) Upon the death of a judge receiving, or eligible to receive, retirement benefits under this subchapter, leaving a surviving spouse, there shall be paid to the surviving spouse for the remainder of his or her natural life, or until he or she remarries, a sum equal to one-half (½) of the retirement pay which the deceased judge was receiving, or would have been eligible to receive, at the time of his or her death. (2) Upon the death of a judge while serving in that capacity, leaving a surviving spouse who has been married to and living with the judge for at least five (5) years immediately preceding his or her death, the surviving spouse, if not remarried prior thereto, shall, upon reaching fifty (50) years of age, be entitled to and shall receive, until his or her death or remarriage, benefits in an amount equal to one-half (½) of the retirement benefits to which the deceased judge would have been entitled had he or she been eligible for retirement on the date of his or her death. Acts 1965, No. 19, § 2; 1967, No. 126, § 1; 1973, No. 229, § 1; 1977, No. 721, § 2; A.S.A. 1947, § 22-942.

(a) A judge of a municipal court upon reaching sixty-eight (68) years of age and having served for a minimum of seven (7) years immediately prior to retirement may retire.

(b) (1) If incapacitating illness or disability should occur during any term to which a judge has been elected, he or she shall be eligible to retire at one-half (½) pay as provided in this section. (2) The retirement salary to be paid to the retiree shall be one-half (½) of the salary being paid at the time of retirement for and during his or her natural life.

(1) If incapacitating illness or disability should occur during any term to which a judge has been elected, he or she shall be eligible to retire at one-half (½) pay as provided in this section.

(2) The retirement salary to be paid to the retiree shall be one-half (½) of the salary being paid at the time of retirement for and during his or her natural life.

(c) Notice of retirement shall be in writing and sent to the chair of the board of trustees who, upon finding that the applicant meets the requirements of this subchapter, shall authorize the secretary of the board to issue vouchers in payment to the applicant in accordance with the provisions of this subchapter for and during the natural life of the applicant.

(d) (1) Upon the death of a judge receiving, or eligible to receive, retirement benefits under this subchapter, leaving a surviving spouse, there shall be paid to the surviving spouse for the remainder of his or her natural life, or until he or she remarries, a sum equal to one-half (½) of the retirement pay which the deceased judge was receiving, or would have been eligible to receive, at the time of his or her death. (2) Upon the death of a judge while serving in that capacity, leaving a surviving spouse who has been married to and living with the judge for at least five (5) years immediately preceding his or her death, the surviving spouse, if not remarried prior thereto, shall, upon reaching fifty (50) years of age, be entitled to and shall receive, until his or her death or remarriage, benefits in an amount equal to one-half (½) of the retirement benefits to which the deceased judge would have been entitled had he or she been eligible for retirement on the date of his or her death.

(1) Upon the death of a judge receiving, or eligible to receive, retirement benefits under this subchapter, leaving a surviving spouse, there shall be paid to the surviving spouse for the remainder of his or her natural life, or until he or she remarries, a sum equal to one-half (½) of the retirement pay which the deceased judge was receiving, or would have been eligible to receive, at the time of his or her death.

(2) Upon the death of a judge while serving in that capacity, leaving a surviving spouse who has been married to and living with the judge for at least five (5) years immediately preceding his or her death, the surviving spouse, if not remarried prior thereto, shall, upon reaching fifty (50) years of age, be entitled to and shall receive, until his or her death or remarriage, benefits in an amount equal to one-half (½) of the retirement benefits to which the deceased judge would have been entitled had he or she been eligible for retirement on the date of his or her death.

Acts 1965, No. 19, § 2; 1967, No. 126, § 1; 1973, No. 229, § 1; 1977, No. 721, § 2; A.S.A. 1947, § 22-942.
Ark. Code Ann. § 24-11-418 — AR Code / Title 24 / Chapter 11 / Subchapter 4 / Section 24-11-418
Former military service credit purchase
Status: in_force

(a) Any active member of a policemen's pension and relief fund may purchase credited service in the pension fund equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member's employment covered by the pension fund, if the member: (1) Received an honorable discharge from the armed forces; (2) Has at least twenty (20) years of actual service in the pension fund; and (3) (A) Contributes to the pension fund an amount that is the actuarial equivalent of the value of the credited service to be purchased. (B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the Arkansas Fire and Police Pension Review Board or for a pension fund under administration of the Arkansas Local Police and Fire Retirement System, the actuary for that system. (b) The board of trustees of the policemen's pension and relief fund shall make the final determination as to the: (1) Length of purchased service credit; (2) Amount of regular interest to be charged; and (3) Manner in which payment is made to the pension fund. (c) Service credit purchased under this section shall be used to determine the member's total credited service under the pension fund but shall not be used to determine his or her final average pay under the pension fund. Amended by Act 2013, No. 41,§ 12, eff. 2/6/2013. Acts 1981, No. 514, § 1; A.S.A. 1947, § 19-1828; Acts 1987, No. 811, § 1; 1991, No. 371, § 1; Acts 2009, No. 256, § 1.

(a) Any active member of a policemen's pension and relief fund may purchase credited service in the pension fund equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member's employment covered by the pension fund, if the member: (1) Received an honorable discharge from the armed forces; (2) Has at least twenty (20) years of actual service in the pension fund; and (3) (A) Contributes to the pension fund an amount that is the actuarial equivalent of the value of the credited service to be purchased. (B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the Arkansas Fire and Police Pension Review Board or for a pension fund under administration of the Arkansas Local Police and Fire Retirement System, the actuary for that system.

(1) Received an honorable discharge from the armed forces;

(2) Has at least twenty (20) years of actual service in the pension fund; and

(3) (A) Contributes to the pension fund an amount that is the actuarial equivalent of the value of the credited service to be purchased. (B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the Arkansas Fire and Police Pension Review Board or for a pension fund under administration of the Arkansas Local Police and Fire Retirement System, the actuary for that system.

(A) Contributes to the pension fund an amount that is the actuarial equivalent of the value of the credited service to be purchased.

(B) The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the Arkansas Fire and Police Pension Review Board or for a pension fund under administration of the Arkansas Local Police and Fire Retirement System, the actuary for that system.

(b) The board of trustees of the policemen's pension and relief fund shall make the final determination as to the: (1) Length of purchased service credit; (2) Amount of regular interest to be charged; and (3) Manner in which payment is made to the pension fund.

(1) Length of purchased service credit;

(2) Amount of regular interest to be charged; and

(3) Manner in which payment is made to the pension fund.

(c) Service credit purchased under this section shall be used to determine the member's total credited service under the pension fund but shall not be used to determine his or her final average pay under the pension fund.

Amended by Act 2013, No. 41,§ 12, eff. 2/6/2013.

Acts 1981, No. 514, § 1; A.S.A. 1947, § 19-1828; Acts 1987, No. 811, § 1; 1991, No. 371, § 1; Acts 2009, No. 256, § 1.
Ark. Code Ann. § 24-6-403 — AR Code / Title 24 / Chapter 6 / Subchapter 4 / Section 24-6-403
Definitions
Status: in_force

As used in this subchapter: (1) "Accumulated contribution" means the sum of all amounts deducted from the salaries of a member and credited to his or her individual account in the members' deposit account, together with regular interest credited thereon; (2) "Actual service" means the service credited to a member under this subchapter. Employment in a position covered by this subchapter shall be credited at the rate of one (1) month for each month of employment; (3) "Actuarial equivalent" means a benefit of equal reserve value where "reserve" means the present value of all payments paid on account of any benefit based upon such reasonable rates of interest and tables of experience as a plan shall adopt from time to time; (4) "Beneficiary" means any person except a retirant who is in receipt of or who is entitled to receive a pension or other benefit payable from funds of the State Police Retirement System; (5) "Board" means the Board of Trustees of the State Police Retirement System; (6) "Director" means the Director of the Division of Arkansas State Police; (7) "Division" means the Division of Arkansas State Police; (8) (A) "Final average compensation" means the average of the highest annual salaries paid a member during any period of forty-eight (48) calendar months of credited service with a public employer. (B) Should a member have less than forty-eight (48) calendar months of credited service, "final average compensation" means the average of the annual salaries paid to the member during his or her total years of service; (9) "Member" means any state police officer who is included in the membership of the system as provided in § 24-6-402 ; (10) (A) "Pension" means a monthly amount payable from the funds of the system throughout the life of a person. (B) All pensions shall be paid in equal monthly installments; (11) "Pension reserve" means the present value of a pension computed upon the basis of such mortality and other tables of experience, and regular interest as the board, from time to time, shall adopt; (12) "Regular interest" means such rates of interest per annum compounded annually as the board, from time to time, shall prescribe; (13) "Retirant" means any member who retires with a pension payable from funds of the system; (14) "Retirement" means a member's withdrawal from the employ of the division with a pension payable from the funds of the system; (15) (A) "Salary" means the compensation paid a member for service rendered as a state police officer. (B) In no case shall the term "salary" include reimbursement for lodging, meals, or travel expenses; (16) "Service" means service rendered to the division by a state police officer and shall include previous service, if any, rendered by him or her as an Arkansas state ranger; (17) (A) "State police officer" means any employee of the Division of Arkansas State Police who holds the rank of state trooper or a higher rank, and it shall include the director. (B) The term "state police officer" shall not include any civilian employee of the division, nor shall it include any person who is temporarily employed as a state trooper for an emergency. (C) In any case of doubt as to who is a state police officer, the board shall decide the question; and (18) "System" means the State Police Retirement System. Acts 1997, No. 1071, § 1; 1999, No. 387, § 2; 2001, No. 151, § 65.

As used in this subchapter:

(1) "Accumulated contribution" means the sum of all amounts deducted from the salaries of a member and credited to his or her individual account in the members' deposit account, together with regular interest credited thereon;

(2) "Actual service" means the service credited to a member under this subchapter. Employment in a position covered by this subchapter shall be credited at the rate of one (1) month for each month of employment;

(3) "Actuarial equivalent" means a benefit of equal reserve value where "reserve" means the present value of all payments paid on account of any benefit based upon such reasonable rates of interest and tables of experience as a plan shall adopt from time to time;

(4) "Beneficiary" means any person except a retirant who is in receipt of or who is entitled to receive a pension or other benefit payable from funds of the State Police Retirement System;

(5) "Board" means the Board of Trustees of the State Police Retirement System;

(6) "Director" means the Director of the Division of Arkansas State Police;

(7) "Division" means the Division of Arkansas State Police;

(8) (A) "Final average compensation" means the average of the highest annual salaries paid a member during any period of forty-eight (48) calendar months of credited service with a public employer. (B) Should a member have less than forty-eight (48) calendar months of credited service, "final average compensation" means the average of the annual salaries paid to the member during his or her total years of service;

(A) "Final average compensation" means the average of the highest annual salaries paid a member during any period of forty-eight (48) calendar months of credited service with a public employer.

(B) Should a member have less than forty-eight (48) calendar months of credited service, "final average compensation" means the average of the annual salaries paid to the member during his or her total years of service;

(9) "Member" means any state police officer who is included in the membership of the system as provided in § 24-6-402 ;

(10) (A) "Pension" means a monthly amount payable from the funds of the system throughout the life of a person. (B) All pensions shall be paid in equal monthly installments;

(A) "Pension" means a monthly amount payable from the funds of the system throughout the life of a person.

(B) All pensions shall be paid in equal monthly installments;

(11) "Pension reserve" means the present value of a pension computed upon the basis of such mortality and other tables of experience, and regular interest as the board, from time to time, shall adopt;

(12) "Regular interest" means such rates of interest per annum compounded annually as the board, from time to time, shall prescribe;

(13) "Retirant" means any member who retires with a pension payable from funds of the system;

(14) "Retirement" means a member's withdrawal from the employ of the division with a pension payable from the funds of the system;

(15) (A) "Salary" means the compensation paid a member for service rendered as a state police officer. (B) In no case shall the term "salary" include reimbursement for lodging, meals, or travel expenses;

(A) "Salary" means the compensation paid a member for service rendered as a state police officer.

(B) In no case shall the term "salary" include reimbursement for lodging, meals, or travel expenses;

(16) "Service" means service rendered to the division by a state police officer and shall include previous service, if any, rendered by him or her as an Arkansas state ranger;

(17) (A) "State police officer" means any employee of the Division of Arkansas State Police who holds the rank of state trooper or a higher rank, and it shall include the director. (B) The term "state police officer" shall not include any civilian employee of the division, nor shall it include any person who is temporarily employed as a state trooper for an emergency. (C) In any case of doubt as to who is a state police officer, the board shall decide the question; and

(A) "State police officer" means any employee of the Division of Arkansas State Police who holds the rank of state trooper or a higher rank, and it shall include the director.

(B) The term "state police officer" shall not include any civilian employee of the division, nor shall it include any person who is temporarily employed as a state trooper for an emergency.

(C) In any case of doubt as to who is a state police officer, the board shall decide the question; and

(18) "System" means the State Police Retirement System.

Acts 1997, No. 1071, § 1; 1999, No. 387, § 2; 2001, No. 151, § 65.
Ark. Code Ann. § 24-4-104 — AR Code / Title 24 / Chapter 4 / Subchapter 1 / Section 24-4-104
Board of trustees - Creation - Members
Status: in_force

(a) The administration and control of the Arkansas Public Employees' Retirement System shall be vested in a board called the "Board of Trustees of the Arkansas Public Employees' Retirement System". (b) The board shall consist of the following members: (1) The Auditor of State, the Treasurer of State, and the Secretary of the Department of Finance and Administration shall be ex officio members; (2) (A) Three (3) members who are state employees and three (3) members who are nonstate employees to be appointed by the Governor. (B) Each nonstate employee trustee and each state employee trustee shall have at least five (5) continuous years of service with a public employer or employers and shall be a member of the Arkansas Public Employees' Retirement System. (C) (i) No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (ii) No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (D) The three (3) nonstate employee trustees shall consist of at least one (1) currently elected county judge and at least one (1) mayor. (E) Subdivisions (b)(2)(B)-(D) of this section do not apply to members appointed under subdivisions (b)(3) and (4) of this section; (3) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the President Pro Tempore of the Senate. (B) One (1) of the members described in subdivision (b)(3)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System; and (4) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the Speaker of the House of Representatives. (B) One (1) of the members described in subdivision (b)(4)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System. (c) (1) The term of office of appointed trustees shall be six (6) years. (2) (A) The Governor shall declare a vacancy on the board when a: (i) Nonstate employee trustee leaves the employ of a participating public employer; (ii) State employee trustee leaves state employment; (iii) Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and (iv) Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board. (B) A vacancy declared under subdivisions (c)(2)(A)(iii) and (iv) of this section shall be for the seat of the newly retired trustee. (C) The Governor shall appoint a state employee member or a nonstate employee member to fill the vacancy for the remainder of the unexpired term within thirty (30) days of the date on which the vacancy is declared. (d) (1) Annually, the board shall select from its membership a chair and a vice chair. (2) The board shall appoint an executive director who shall be the executive administrative officer of the Arkansas Public Employees' Retirement System and shall also be ex officio secretary of the board, but who shall have no vote on questions before the board and who shall be directly responsible to the board. (3) By resolution duly adopted, the board may delegate to the executive director any of the powers and duties vested in or imposed upon it by law. (4) Within such limitations as may be contained in legislative appropriations therefor, the executive director, subject to the approval of the board, may employ and fix the compensation of such secretarial, clerical, professional, and other personnel as may be required for the proper administration of the Arkansas Public Employees' Retirement System. Amended by Act 2023, No. 436,§ 1, eff. 8/1/2023. Amended by Act 2021, No. 686,§ 1, eff. 7/28/2021. Amended by Act 2017, No. 311,§ 2, eff. 3/1/2017. Amended by Act 2017, No. 311,§ 1, eff. 3/1/2017. Acts 1957, No. 177, § 3; 1959, No. 42, § 3; 1965, No. 153, § 4; 1975, No. 732, § 1; 1985, No. 7, § 1; A.S.A. 1947, § 12-2503.

(a) The administration and control of the Arkansas Public Employees' Retirement System shall be vested in a board called the "Board of Trustees of the Arkansas Public Employees' Retirement System".

(b) The board shall consist of the following members: (1) The Auditor of State, the Treasurer of State, and the Secretary of the Department of Finance and Administration shall be ex officio members; (2) (A) Three (3) members who are state employees and three (3) members who are nonstate employees to be appointed by the Governor. (B) Each nonstate employee trustee and each state employee trustee shall have at least five (5) continuous years of service with a public employer or employers and shall be a member of the Arkansas Public Employees' Retirement System. (C) (i) No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (ii) No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (D) The three (3) nonstate employee trustees shall consist of at least one (1) currently elected county judge and at least one (1) mayor. (E) Subdivisions (b)(2)(B)-(D) of this section do not apply to members appointed under subdivisions (b)(3) and (4) of this section; (3) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the President Pro Tempore of the Senate. (B) One (1) of the members described in subdivision (b)(3)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System; and (4) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the Speaker of the House of Representatives. (B) One (1) of the members described in subdivision (b)(4)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System.

(1) The Auditor of State, the Treasurer of State, and the Secretary of the Department of Finance and Administration shall be ex officio members;

(2) (A) Three (3) members who are state employees and three (3) members who are nonstate employees to be appointed by the Governor. (B) Each nonstate employee trustee and each state employee trustee shall have at least five (5) continuous years of service with a public employer or employers and shall be a member of the Arkansas Public Employees' Retirement System. (C) (i) No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (ii) No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (D) The three (3) nonstate employee trustees shall consist of at least one (1) currently elected county judge and at least one (1) mayor. (E) Subdivisions (b)(2)(B)-(D) of this section do not apply to members appointed under subdivisions (b)(3) and (4) of this section;

(A) Three (3) members who are state employees and three (3) members who are nonstate employees to be appointed by the Governor.

(B) Each nonstate employee trustee and each state employee trustee shall have at least five (5) continuous years of service with a public employer or employers and shall be a member of the Arkansas Public Employees' Retirement System.

(C) (i) No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System. (ii) No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System.

(i) No more than one (1) of the three (3) members who are nonstate employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System.

(ii) No more than one (1) of the three (3) members who are state employee trustees appointed by the Governor shall be a retired member of the Arkansas Public Employees' Retirement System.

(D) The three (3) nonstate employee trustees shall consist of at least one (1) currently elected county judge and at least one (1) mayor.

(E) Subdivisions (b)(2)(B)-(D) of this section do not apply to members appointed under subdivisions (b)(3) and (4) of this section;

(3) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the President Pro Tempore of the Senate. (B) One (1) of the members described in subdivision (b)(3)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System; and

(A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the President Pro Tempore of the Senate.

(B) One (1) of the members described in subdivision (b)(3)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System; and

(4) (A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the Speaker of the House of Representatives. (B) One (1) of the members described in subdivision (b)(4)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System.

(A) Two (2) members who retired from employment covered by the Arkansas Public Employees' Retirement System to be appointed by the Speaker of the House of Representatives.

(B) One (1) of the members described in subdivision (b)(4)(A) of this section shall be a retired law enforcement officer who is not a retired member of the State Police Retirement System.

(c) (1) The term of office of appointed trustees shall be six (6) years. (2) (A) The Governor shall declare a vacancy on the board when a: (i) Nonstate employee trustee leaves the employ of a participating public employer; (ii) State employee trustee leaves state employment; (iii) Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and (iv) Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board. (B) A vacancy declared under subdivisions (c)(2)(A)(iii) and (iv) of this section shall be for the seat of the newly retired trustee. (C) The Governor shall appoint a state employee member or a nonstate employee member to fill the vacancy for the remainder of the unexpired term within thirty (30) days of the date on which the vacancy is declared.

(1) The term of office of appointed trustees shall be six (6) years.

(2) (A) The Governor shall declare a vacancy on the board when a: (i) Nonstate employee trustee leaves the employ of a participating public employer; (ii) State employee trustee leaves state employment; (iii) Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and (iv) Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board. (B) A vacancy declared under subdivisions (c)(2)(A)(iii) and (iv) of this section shall be for the seat of the newly retired trustee. (C) The Governor shall appoint a state employee member or a nonstate employee member to fill the vacancy for the remainder of the unexpired term within thirty (30) days of the date on which the vacancy is declared.

(A) The Governor shall declare a vacancy on the board when a: (i) Nonstate employee trustee leaves the employ of a participating public employer; (ii) State employee trustee leaves state employment; (iii) Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and (iv) Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board.

(i) Nonstate employee trustee leaves the employ of a participating public employer;

(ii) State employee trustee leaves state employment;

(iii) Member who is a nonstate employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a nonstate employee trustee on the board; and

(iv) Member who is a state employee trustee retires and there is another retired member of the Arkansas Public Employees' Retirement System who is a state employee trustee on the board.

(B) A vacancy declared under subdivisions (c)(2)(A)(iii) and (iv) of this section shall be for the seat of the newly retired trustee.

(C) The Governor shall appoint a state employee member or a nonstate employee member to fill the vacancy for the remainder of the unexpired term within thirty (30) days of the date on which the vacancy is declared.

(d) (1) Annually, the board shall select from its membership a chair and a vice chair. (2) The board shall appoint an executive director who shall be the executive administrative officer of the Arkansas Public Employees' Retirement System and shall also be ex officio secretary of the board, but who shall have no vote on questions before the board and who shall be directly responsible to the board. (3) By resolution duly adopted, the board may delegate to the executive director any of the powers and duties vested in or imposed upon it by law. (4) Within such limitations as may be contained in legislative appropriations therefor, the executive director, subject to the approval of the board, may employ and fix the compensation of such secretarial, clerical, professional, and other personnel as may be required for the proper administration of the Arkansas Public Employees' Retirement System.

(1) Annually, the board shall select from its membership a chair and a vice chair.

(2) The board shall appoint an executive director who shall be the executive administrative officer of the Arkansas Public Employees' Retirement System and shall also be ex officio secretary of the board, but who shall have no vote on questions before the board and who shall be directly responsible to the board.

(3) By resolution duly adopted, the board may delegate to the executive director any of the powers and duties vested in or imposed upon it by law.

(4) Within such limitations as may be contained in legislative appropriations therefor, the executive director, subject to the approval of the board, may employ and fix the compensation of such secretarial, clerical, professional, and other personnel as may be required for the proper administration of the Arkansas Public Employees' Retirement System.

Amended by Act 2023, No. 436,§ 1, eff. 8/1/2023.

Amended by Act 2021, No. 686,§ 1, eff. 7/28/2021.

Amended by Act 2017, No. 311,§ 2, eff. 3/1/2017.

Amended by Act 2017, No. 311,§ 1, eff. 3/1/2017.

Acts 1957, No. 177, § 3; 1959, No. 42, § 3; 1965, No. 153, § 4; 1975, No. 732, § 1; 1985, No. 7, § 1; A.S.A. 1947, § 12-2503.
Ark. Code Ann. § 24-7-901 — AR Code / Title 24 / Chapter 7 / Subchapter 9 / Section 24-7-901
Definitions
Status: in_force

As used in this subchapter, unless the context otherwise requires: (1) "Alternate retirement plan" means a retirement plan, based on the purchase of contracts approved by the Career Education and Workforce Development Board before the effective date of Acts 2019, No. 910, which provides retirement and death benefits for the: (A) Instructors and administrative staff of the technical institutes or postsecondary vocational-technical schools of the State of Arkansas; and (B) Staff of the Department of Career Education as it existed before the effective date of Acts 2019, No. 910; (2) "Retirement system" means the Arkansas Teacher Retirement System; (3) "School" means any technical institute or postsecondary vocational-technical school established pursuant to § 6-51-202 for the vocational training of students; and (4) "Staff members" means both instructors and administrative staff of a technical institute or postsecondary vocational-technical school and the staff of the department who are eligible for membership in the retirement system. Amended by Act 2021, No. 545,§ 25, eff. 7/28/2021. Amended by Act 2019, No. 84,§ 1, eff. 7/24/2019. Acts 1983, No. 480, § 1; A.S.A. 1947, § 80-1466; Acts 1999, No. 1323, § 49.

As used in this subchapter, unless the context otherwise requires:

(1) "Alternate retirement plan" means a retirement plan, based on the purchase of contracts approved by the Career Education and Workforce Development Board before the effective date of Acts 2019, No. 910, which provides retirement and death benefits for the: (A) Instructors and administrative staff of the technical institutes or postsecondary vocational-technical schools of the State of Arkansas; and (B) Staff of the Department of Career Education as it existed before the effective date of Acts 2019, No. 910;

(A) Instructors and administrative staff of the technical institutes or postsecondary vocational-technical schools of the State of Arkansas; and

(B) Staff of the Department of Career Education as it existed before the effective date of Acts 2019, No. 910;

(2) "Retirement system" means the Arkansas Teacher Retirement System;

(3) "School" means any technical institute or postsecondary vocational-technical school established pursuant to § 6-51-202 for the vocational training of students; and

(4) "Staff members" means both instructors and administrative staff of a technical institute or postsecondary vocational-technical school and the staff of the department who are eligible for membership in the retirement system.

Amended by Act 2021, No. 545,§ 25, eff. 7/28/2021.

Amended by Act 2019, No. 84,§ 1, eff. 7/24/2019.

Acts 1983, No. 480, § 1; A.S.A. 1947, § 80-1466; Acts 1999, No. 1323, § 49.
Ark. Code Ann. § 24-11-206 — AR Code / Title 24 / Chapter 11 / Subchapter 2 / Section 24-11-206
Annual financial report
Status: in_force

(a) Each plan shall cause to be prepared an annual financial report following the close of each fiscal year. The financial report shall contain at least the following information: (1) A summary of the benefits available to covered persons; and (2) The accounting information specified in § 24-11-207 . (b) The annual financial report shall be filed with the Executive Director of the Arkansas Fire and Police Pension Review Board. Acts 1979, No. 700, § 2; 1981, No. 286, § 2; 1983, No. 512, § 1; A.S.A. 1947, § 19-5702.

(a) Each plan shall cause to be prepared an annual financial report following the close of each fiscal year. The financial report shall contain at least the following information: (1) A summary of the benefits available to covered persons; and (2) The accounting information specified in § 24-11-207 .

(1) A summary of the benefits available to covered persons; and

(2) The accounting information specified in § 24-11-207 .

(b) The annual financial report shall be filed with the Executive Director of the Arkansas Fire and Police Pension Review Board.

Acts 1979, No. 700, § 2; 1981, No. 286, § 2; 1983, No. 512, § 1; A.S.A. 1947, § 19-5702.
Ark. Code Ann. § 24-5-113 — AR Code / Title 24 / Chapter 5 / Subchapter 1 / Section 24-5-113
Eligibility for benefits - Disability retirement - Definition
Status: in_force

(a) A member shall be eligible for disability retirement benefits after five (5) or more years of creditable service in the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation, but no member shall be eligible to receive benefits for a disability incurred prior to his or her becoming a member of the Arkansas State Highway Employees' Retirement System. (b) No member may be retired on account of disability until conclusive evidence, based on a proper medical examination, has been submitted to the Board of Trustees of the Arkansas State Highway Employees' Retirement System that the member is disabled to the extent that he or she can no longer perform his or her assigned duties. (c) A member who is retired because of disability shall be required to undergo periodic medical examinations at the discretion of the board. (d) If and when a medical examination shows that the disability has been removed, disability retirement benefits shall cease. (e) A disability allowance shall not be granted unless there is conclusive evidence that the disability will be permanent or of long duration. (f) (1) If a disability retirant secures employment with an employer not considered a state employer, as defined by § 24-2-401 , for the purpose of determining whether he or she is capable of returning to employment, then the disability retirant shall be allowed to earn compensation from the employment for a period of time not to exceed nine (9) months, during which period of time the retirant shall receive no monthly benefits from the system. (2) If the retirant becomes unable to continue his or her employment before the nine-month period expires, then his or her disability retirement benefits from the system shall be reinstated and be effective the first day of the month after terminating employment. (3) Only one (1) trial work period is allowed any disability retirant, but the nine (9) months need not be consecutive. (4) The trial work period does not prevent the consideration of any medical evidence which may demonstrate recovery before the ninth month of trial work. (5) (A) If, at the end of the nine-month trial work period, the retirant wishes to continue his or her employment outside the system, then the disability retirement status shall terminate. (B) For the purpose of determining eligibility for any other benefit, the retirant shall be considered to have terminated active membership as of the time of disability retirement but for a reason other than disability or death. (6) (A) If the former disability retirant again becomes an employee of a state employer as defined by § 24-2-401 , he or she shall immediately again become a member of the system, and his or her credited service at the time of disability retirement shall be restored. (B) The amount of the accumulated contributions at the time of his or her disability retirement shall be restored to the member's deposit account, but in no event shall he or she be given service credit for the period he or she was in receipt of his or her disability annuity. (g) As used in this section, "suitable job or position" means a job or position the requirements of which can be physically or mentally performed, as determined by a physician, and for which the remuneration would be substantially gainful, as defined by the Social Security Administration as the maximum amount that a person under sixty-five (65) years of age may earn. (h) (1) At least one (1) time each year, the board may require any disability retirant to submit a form attesting to his or her current work status. (2) If such a retirant refuses to submit the form, his or her disability annuity may be suspended by the board until the form is properly submitted to the board. (3) If his or her refusal continues for one (1) year, all his or her rights in and to a disability annuity may be revoked by the board. Amended by Act 2017, No. 707,§ 280, eff. 8/1/2017. Acts 1949, No. 454, § 11; A.S.A. 1947, § 76-1911; Acts 1997, No. 347, § 4; 1997, No. 1053, § 15.

(a) A member shall be eligible for disability retirement benefits after five (5) or more years of creditable service in the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation, but no member shall be eligible to receive benefits for a disability incurred prior to his or her becoming a member of the Arkansas State Highway Employees' Retirement System.

(b) No member may be retired on account of disability until conclusive evidence, based on a proper medical examination, has been submitted to the Board of Trustees of the Arkansas State Highway Employees' Retirement System that the member is disabled to the extent that he or she can no longer perform his or her assigned duties.

(c) A member who is retired because of disability shall be required to undergo periodic medical examinations at the discretion of the board.

(d) If and when a medical examination shows that the disability has been removed, disability retirement benefits shall cease.

(e) A disability allowance shall not be granted unless there is conclusive evidence that the disability will be permanent or of long duration.

(f) (1) If a disability retirant secures employment with an employer not considered a state employer, as defined by § 24-2-401 , for the purpose of determining whether he or she is capable of returning to employment, then the disability retirant shall be allowed to earn compensation from the employment for a period of time not to exceed nine (9) months, during which period of time the retirant shall receive no monthly benefits from the system. (2) If the retirant becomes unable to continue his or her employment before the nine-month period expires, then his or her disability retirement benefits from the system shall be reinstated and be effective the first day of the month after terminating employment. (3) Only one (1) trial work period is allowed any disability retirant, but the nine (9) months need not be consecutive. (4) The trial work period does not prevent the consideration of any medical evidence which may demonstrate recovery before the ninth month of trial work. (5) (A) If, at the end of the nine-month trial work period, the retirant wishes to continue his or her employment outside the system, then the disability retirement status shall terminate. (B) For the purpose of determining eligibility for any other benefit, the retirant shall be considered to have terminated active membership as of the time of disability retirement but for a reason other than disability or death. (6) (A) If the former disability retirant again becomes an employee of a state employer as defined by § 24-2-401 , he or she shall immediately again become a member of the system, and his or her credited service at the time of disability retirement shall be restored. (B) The amount of the accumulated contributions at the time of his or her disability retirement shall be restored to the member's deposit account, but in no event shall he or she be given service credit for the period he or she was in receipt of his or her disability annuity.

(1) If a disability retirant secures employment with an employer not considered a state employer, as defined by § 24-2-401 , for the purpose of determining whether he or she is capable of returning to employment, then the disability retirant shall be allowed to earn compensation from the employment for a period of time not to exceed nine (9) months, during which period of time the retirant shall receive no monthly benefits from the system.

(2) If the retirant becomes unable to continue his or her employment before the nine-month period expires, then his or her disability retirement benefits from the system shall be reinstated and be effective the first day of the month after terminating employment.

(3) Only one (1) trial work period is allowed any disability retirant, but the nine (9) months need not be consecutive.

(4) The trial work period does not prevent the consideration of any medical evidence which may demonstrate recovery before the ninth month of trial work.

(5) (A) If, at the end of the nine-month trial work period, the retirant wishes to continue his or her employment outside the system, then the disability retirement status shall terminate. (B) For the purpose of determining eligibility for any other benefit, the retirant shall be considered to have terminated active membership as of the time of disability retirement but for a reason other than disability or death.

(A) If, at the end of the nine-month trial work period, the retirant wishes to continue his or her employment outside the system, then the disability retirement status shall terminate.

(B) For the purpose of determining eligibility for any other benefit, the retirant shall be considered to have terminated active membership as of the time of disability retirement but for a reason other than disability or death.

(6) (A) If the former disability retirant again becomes an employee of a state employer as defined by § 24-2-401 , he or she shall immediately again become a member of the system, and his or her credited service at the time of disability retirement shall be restored. (B) The amount of the accumulated contributions at the time of his or her disability retirement shall be restored to the member's deposit account, but in no event shall he or she be given service credit for the period he or she was in receipt of his or her disability annuity.

(A) If the former disability retirant again becomes an employee of a state employer as defined by § 24-2-401 , he or she shall immediately again become a member of the system, and his or her credited service at the time of disability retirement shall be restored.

(B) The amount of the accumulated contributions at the time of his or her disability retirement shall be restored to the member's deposit account, but in no event shall he or she be given service credit for the period he or she was in receipt of his or her disability annuity.

(g) As used in this section, "suitable job or position" means a job or position the requirements of which can be physically or mentally performed, as determined by a physician, and for which the remuneration would be substantially gainful, as defined by the Social Security Administration as the maximum amount that a person under sixty-five (65) years of age may earn.

(h) (1) At least one (1) time each year, the board may require any disability retirant to submit a form attesting to his or her current work status. (2) If such a retirant refuses to submit the form, his or her disability annuity may be suspended by the board until the form is properly submitted to the board. (3) If his or her refusal continues for one (1) year, all his or her rights in and to a disability annuity may be revoked by the board.

(1) At least one (1) time each year, the board may require any disability retirant to submit a form attesting to his or her current work status.

(2) If such a retirant refuses to submit the form, his or her disability annuity may be suspended by the board until the form is properly submitted to the board.

(3) If his or her refusal continues for one (1) year, all his or her rights in and to a disability annuity may be revoked by the board.

Amended by Act 2017, No. 707,§ 280, eff. 8/1/2017.

Acts 1949, No. 454, § 11; A.S.A. 1947, § 76-1911; Acts 1997, No. 347, § 4; 1997, No. 1053, § 15.