Ark. Code Ann. § 24-4-507 — AR Code / Title 24 / Chapter 4 / Subchapter 5 / Section 24-4-507
Eligibility for benefits - Credited service
Status: in_force

(a) (1) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine, by appropriate rules consistent with the provisions of this chapter, the amount of service to be credited any member for any fiscal year. (2) (A) For periods of time prior to July 1, 1991, in no case shall less than ten (10) days of service rendered by a member in any calendar month be credited as a month of service, nor shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a year of service unless the member is employed by the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state, in which case nine (9) months would constitute a year of credited service. (B) For periods of time prior to July 1, 1991, in no case can less than nine (9) months of service rendered in any fiscal year be credited as a full year of service, nor shall more than one (1) year of service be credited any member for all service rendered by him or her in a fiscal year. (3) (A) Beginning July 1, 1992, and thereafter, service rendered by a member in any calendar month shall be credited as service based upon the member's number of hours of service in that month and in accordance with the following schedule: Click here to view form. (B) Beginning July 1, 1991, in no case shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a full year of service, except that the minimum shall be lowered to nine (9) months for a member whose covered employment is employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools. (C) Any member who retires on or after July 1, 1999, shall receive six (6) months of service credit for each full semester of service rendered in any fiscal year for covered employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state. (4) Prior service credits shall not be granted to any member who did not become a member of the Arkansas Public Employees' Retirement System on the date his or her public employer became a participating public employer, nor shall current service credit be granted any member for any period of time not covered by accumulated contributions standing to his or her credit in the members' deposit account, except as otherwise provided in this chapter. (b) (1) A member's credited service shall include periods of time, not to exceed a total of five (5) years, during which the member's employment with a public employer was, or is, interrupted due to service rendered by him or her in the United States Armed Forces during a national emergency, but only if: (A) The person was, or is, an employee of a public employer at the time he or she entered, or enters the United States Armed Forces; (B) The person was, or is, reemployed by a public employer within six (6) years from and after the termination of the armed service required of him or her; and (C) The person returns to the members' deposit account the amounts withdrawn by him or her, together with regular interest from the date of withdrawal to the date of repayment. (2) In any case of doubt as to the period to be so credited any member, the board shall have the final power to determine the period. (3) During the period of a member's armed service and until his or her return to the employ of a public employer, a member's contributions to the system shall be suspended. (4) In no case shall the period of armed service be included in computing a member's average compensation. Amended by Act 2019, No. 315,§ 2855, eff. 7/24/2019. Acts 1957, No. 177, § 10; 1959, No. 42, § 10; 1965, No. 153, §§ 9, 10; 1969, No. 313, § 3; 1975, No. 907, § 6; 1981, No. 859, § 3; A.S.A. 1947, § 12-2510; Acts 1991, No. 757, § 1; 1999, No. 325, § 7; 2001, No. 151, § 22; 2011, No. 38, § 6.

(a) (1) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine, by appropriate rules consistent with the provisions of this chapter, the amount of service to be credited any member for any fiscal year. (2) (A) For periods of time prior to July 1, 1991, in no case shall less than ten (10) days of service rendered by a member in any calendar month be credited as a month of service, nor shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a year of service unless the member is employed by the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state, in which case nine (9) months would constitute a year of credited service. (B) For periods of time prior to July 1, 1991, in no case can less than nine (9) months of service rendered in any fiscal year be credited as a full year of service, nor shall more than one (1) year of service be credited any member for all service rendered by him or her in a fiscal year. (3) (A) Beginning July 1, 1992, and thereafter, service rendered by a member in any calendar month shall be credited as service based upon the member's number of hours of service in that month and in accordance with the following schedule: Click here to view form. (B) Beginning July 1, 1991, in no case shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a full year of service, except that the minimum shall be lowered to nine (9) months for a member whose covered employment is employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools. (C) Any member who retires on or after July 1, 1999, shall receive six (6) months of service credit for each full semester of service rendered in any fiscal year for covered employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state. (4) Prior service credits shall not be granted to any member who did not become a member of the Arkansas Public Employees' Retirement System on the date his or her public employer became a participating public employer, nor shall current service credit be granted any member for any period of time not covered by accumulated contributions standing to his or her credit in the members' deposit account, except as otherwise provided in this chapter.

(1) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine, by appropriate rules consistent with the provisions of this chapter, the amount of service to be credited any member for any fiscal year.

(2) (A) For periods of time prior to July 1, 1991, in no case shall less than ten (10) days of service rendered by a member in any calendar month be credited as a month of service, nor shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a year of service unless the member is employed by the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state, in which case nine (9) months would constitute a year of credited service. (B) For periods of time prior to July 1, 1991, in no case can less than nine (9) months of service rendered in any fiscal year be credited as a full year of service, nor shall more than one (1) year of service be credited any member for all service rendered by him or her in a fiscal year.

(A) For periods of time prior to July 1, 1991, in no case shall less than ten (10) days of service rendered by a member in any calendar month be credited as a month of service, nor shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a year of service unless the member is employed by the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state, in which case nine (9) months would constitute a year of credited service.

(B) For periods of time prior to July 1, 1991, in no case can less than nine (9) months of service rendered in any fiscal year be credited as a full year of service, nor shall more than one (1) year of service be credited any member for all service rendered by him or her in a fiscal year.

(3) (A) Beginning July 1, 1992, and thereafter, service rendered by a member in any calendar month shall be credited as service based upon the member's number of hours of service in that month and in accordance with the following schedule: Click here to view form. (B) Beginning July 1, 1991, in no case shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a full year of service, except that the minimum shall be lowered to nine (9) months for a member whose covered employment is employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools. (C) Any member who retires on or after July 1, 1999, shall receive six (6) months of service credit for each full semester of service rendered in any fiscal year for covered employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state.

(A) Beginning July 1, 1992, and thereafter, service rendered by a member in any calendar month shall be credited as service based upon the member's number of hours of service in that month and in accordance with the following schedule: Click here to view form.

Click here to view form.

(B) Beginning July 1, 1991, in no case shall less than eleven (11) months of service rendered by a member in any fiscal year be credited as a full year of service, except that the minimum shall be lowered to nine (9) months for a member whose covered employment is employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools.

(C) Any member who retires on or after July 1, 1999, shall receive six (6) months of service credit for each full semester of service rendered in any fiscal year for covered employment with the Arkansas School for the Blind or the Arkansas School for the Deaf, the state colleges and universities, or the public schools of the state.

(4) Prior service credits shall not be granted to any member who did not become a member of the Arkansas Public Employees' Retirement System on the date his or her public employer became a participating public employer, nor shall current service credit be granted any member for any period of time not covered by accumulated contributions standing to his or her credit in the members' deposit account, except as otherwise provided in this chapter.

(b) (1) A member's credited service shall include periods of time, not to exceed a total of five (5) years, during which the member's employment with a public employer was, or is, interrupted due to service rendered by him or her in the United States Armed Forces during a national emergency, but only if: (A) The person was, or is, an employee of a public employer at the time he or she entered, or enters the United States Armed Forces; (B) The person was, or is, reemployed by a public employer within six (6) years from and after the termination of the armed service required of him or her; and (C) The person returns to the members' deposit account the amounts withdrawn by him or her, together with regular interest from the date of withdrawal to the date of repayment. (2) In any case of doubt as to the period to be so credited any member, the board shall have the final power to determine the period. (3) During the period of a member's armed service and until his or her return to the employ of a public employer, a member's contributions to the system shall be suspended. (4) In no case shall the period of armed service be included in computing a member's average compensation.

(1) A member's credited service shall include periods of time, not to exceed a total of five (5) years, during which the member's employment with a public employer was, or is, interrupted due to service rendered by him or her in the United States Armed Forces during a national emergency, but only if: (A) The person was, or is, an employee of a public employer at the time he or she entered, or enters the United States Armed Forces; (B) The person was, or is, reemployed by a public employer within six (6) years from and after the termination of the armed service required of him or her; and (C) The person returns to the members' deposit account the amounts withdrawn by him or her, together with regular interest from the date of withdrawal to the date of repayment.

(A) The person was, or is, an employee of a public employer at the time he or she entered, or enters the United States Armed Forces;

(B) The person was, or is, reemployed by a public employer within six (6) years from and after the termination of the armed service required of him or her; and

(C) The person returns to the members' deposit account the amounts withdrawn by him or her, together with regular interest from the date of withdrawal to the date of repayment.

(2) In any case of doubt as to the period to be so credited any member, the board shall have the final power to determine the period.

(3) During the period of a member's armed service and until his or her return to the employ of a public employer, a member's contributions to the system shall be suspended.

(4) In no case shall the period of armed service be included in computing a member's average compensation.

Amended by Act 2019, No. 315,§ 2855, eff. 7/24/2019.

Acts 1957, No. 177, § 10; 1959, No. 42, § 10; 1965, No. 153, §§ 9, 10; 1969, No. 313, § 3; 1975, No. 907, § 6; 1981, No. 859, § 3; A.S.A. 1947, § 12-2510; Acts 1991, No. 757, § 1; 1999, No. 325, § 7; 2001, No. 151, § 22; 2011, No. 38, § 6.

4_507_1 - Attachment
Ark. Code Ann. § 24-2-614 — AR Code / Title 24 / Chapter 2 / Subchapter 6 / Section 24-2-614
Loyalty
Status: in_force

Trustees shall invest and manage the trust assets solely in the interest of the members and benefit recipients of the trust. Acts 2001, No. 151, § 8.

Trustees shall invest and manage the trust assets solely in the interest of the members and benefit recipients of the trust.

Acts 2001, No. 151, § 8.
Ark. Code Ann. § 24-4-740 — AR Code / Title 24 / Chapter 4 / Subchapter 7 / Section 24-4-740
Transfer of Director of the Administrative Office of Courts to Arkansas Public Employees' Retirement System
Status: in_force

(a) Effective July 1, 1993, the Director of the Administrative Office of the Courts shall cease to be a member of the Arkansas Judicial Retirement System. At that time, the director shall become a member of the Arkansas Public Employees' Retirement System. (b) (1) (A) The retirement and survivors' benefit to be received by the director occupying the position on July 1, 1993, shall not be less than that which he or she would have received under the provisions of § 24-8-218 , including any increases after retirement, had he or she remained in the Arkansas Judicial Retirement System. (B) Provided, further, he or she shall meet the eligibility requirements of § 24-8-215 and § 24-8-218 in order to receive the retirement and survivors' benefits provided under § 24-8-218 and shall meet the requirements of § 24-8-217 in order to receive the disability benefits provided under § 24-8-218 . (2) (A) The State of Arkansas, as employer, shall contribute to the Arkansas Public Employees' Retirement System twelve percent (12%) of the salary amount of the director occupying the position on July 1, 1993. (B) The director occupying the position on July 1, 1993, shall contribute six percent (6%) of his or her pay until such time as he or she is eligible for retirement under the provisions of § 24-8-215 . (C) Provided, further, all contributions made to the Arkansas Judicial Retirement System by the employer on behalf of the director occupying the position on July 1, 1993, and all contributions made by the director, shall be transferred to the Arkansas Public Employees' Retirement System. (D) In the event the director ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid into the system by the director. (c) The retirement benefit to be received by any new person occupying the position of director after July 1, 1993, shall be based upon the regular annuity and benefit provisions for the Arkansas Public Employees' Retirement System. The contributions to be made by the employer shall be the same as those required for the State Division of the Arkansas Public Employees' Retirement System. The person occupying the position thereafter shall not make contributions to the system. Acts 1993, No. 944, § 1.

(a) Effective July 1, 1993, the Director of the Administrative Office of the Courts shall cease to be a member of the Arkansas Judicial Retirement System. At that time, the director shall become a member of the Arkansas Public Employees' Retirement System.

(b) (1) (A) The retirement and survivors' benefit to be received by the director occupying the position on July 1, 1993, shall not be less than that which he or she would have received under the provisions of § 24-8-218 , including any increases after retirement, had he or she remained in the Arkansas Judicial Retirement System. (B) Provided, further, he or she shall meet the eligibility requirements of § 24-8-215 and § 24-8-218 in order to receive the retirement and survivors' benefits provided under § 24-8-218 and shall meet the requirements of § 24-8-217 in order to receive the disability benefits provided under § 24-8-218 . (2) (A) The State of Arkansas, as employer, shall contribute to the Arkansas Public Employees' Retirement System twelve percent (12%) of the salary amount of the director occupying the position on July 1, 1993. (B) The director occupying the position on July 1, 1993, shall contribute six percent (6%) of his or her pay until such time as he or she is eligible for retirement under the provisions of § 24-8-215 . (C) Provided, further, all contributions made to the Arkansas Judicial Retirement System by the employer on behalf of the director occupying the position on July 1, 1993, and all contributions made by the director, shall be transferred to the Arkansas Public Employees' Retirement System. (D) In the event the director ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid into the system by the director.

(1) (A) The retirement and survivors' benefit to be received by the director occupying the position on July 1, 1993, shall not be less than that which he or she would have received under the provisions of § 24-8-218 , including any increases after retirement, had he or she remained in the Arkansas Judicial Retirement System. (B) Provided, further, he or she shall meet the eligibility requirements of § 24-8-215 and § 24-8-218 in order to receive the retirement and survivors' benefits provided under § 24-8-218 and shall meet the requirements of § 24-8-217 in order to receive the disability benefits provided under § 24-8-218 .

(A) The retirement and survivors' benefit to be received by the director occupying the position on July 1, 1993, shall not be less than that which he or she would have received under the provisions of § 24-8-218 , including any increases after retirement, had he or she remained in the Arkansas Judicial Retirement System.

(B) Provided, further, he or she shall meet the eligibility requirements of § 24-8-215 and § 24-8-218 in order to receive the retirement and survivors' benefits provided under § 24-8-218 and shall meet the requirements of § 24-8-217 in order to receive the disability benefits provided under § 24-8-218 .

(2) (A) The State of Arkansas, as employer, shall contribute to the Arkansas Public Employees' Retirement System twelve percent (12%) of the salary amount of the director occupying the position on July 1, 1993. (B) The director occupying the position on July 1, 1993, shall contribute six percent (6%) of his or her pay until such time as he or she is eligible for retirement under the provisions of § 24-8-215 . (C) Provided, further, all contributions made to the Arkansas Judicial Retirement System by the employer on behalf of the director occupying the position on July 1, 1993, and all contributions made by the director, shall be transferred to the Arkansas Public Employees' Retirement System. (D) In the event the director ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid into the system by the director.

(A) The State of Arkansas, as employer, shall contribute to the Arkansas Public Employees' Retirement System twelve percent (12%) of the salary amount of the director occupying the position on July 1, 1993.

(B) The director occupying the position on July 1, 1993, shall contribute six percent (6%) of his or her pay until such time as he or she is eligible for retirement under the provisions of § 24-8-215 .

(C) Provided, further, all contributions made to the Arkansas Judicial Retirement System by the employer on behalf of the director occupying the position on July 1, 1993, and all contributions made by the director, shall be transferred to the Arkansas Public Employees' Retirement System.

(D) In the event the director ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid into the system by the director.

(c) The retirement benefit to be received by any new person occupying the position of director after July 1, 1993, shall be based upon the regular annuity and benefit provisions for the Arkansas Public Employees' Retirement System. The contributions to be made by the employer shall be the same as those required for the State Division of the Arkansas Public Employees' Retirement System. The person occupying the position thereafter shall not make contributions to the system.

Acts 1993, No. 944, § 1.
Ark. Code Ann. § 24-5-202 — AR Code / Title 24 / Chapter 5 / Subchapter 2 / Section 24-5-202
Requirements
Status: in_force

(a) In the event a plan is established, the Arkansas State Highway Employees' Deferred Retirement Option Plan shall have, as a minimum, provisions which require that: (1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System approve of the person's participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (2) The member's deferred retirement benefits deposited into an account in which shall be accumulated the member's deferred option contributions plus interest; (3) The rate of interest to be credited to each member's deferred option account shall be an amount to be determined by the board, to be paid on the mean balance in the account for the fiscal year; (4) When a member begins participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan, the member's contributions and the state's contributions, as employer, to the Arkansas State Highway Employees' Retirement System shall be as follows: (A) Beginning on July 1, 2021, the state shall remit contributions to the Arkansas State Highway Employees' Retirement System for a member participating in the Arkansas State Highway Employees' Deferred Retirement Option Plan in an amount equal to the employer contribution for an active employee as prescribed in § 24-5-109 ; (B) For an employee hired before July 1, 2021, the employee contribution to the Arkansas State Highway Employees' Retirement System shall cease upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; and (C) For an employee hired after June 30, 2021, the employee shall be required to remit member contributions to the Arkansas State Highway Employees' Retirement System in an amount equal to the current active employee contribution rate upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (5) A member's selection of the deferred retirement option, the time of the retirement deferral, and the selection of the retirement annuity are irrevocable; (6) The duration of participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan shall not exceed five (5) years except under subsection (b) of this section; and (7) (A) The service retirement benefit for a member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall not include an amount added to the member's annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) . (B) A member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall be eligible to receive an amount added to his or her annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) if: (i) The member ceases participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (ii) The member terminates his or her employment with the Arkansas Department of Transportation; and (iii) Annuity benefit payments to the member begin. (b) (1) The member may participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the later of sixty-five (65) years of age or the fifth anniversary of the member's entry into the plan. (2) The member who enters the Arkansas State Highway Employees' Deferred Retirement Option Plan before sixty (60) years of age may continue to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the member retires or reaches sixty-five (65) years of age. (3) (A) An employee hired before July 1, 2021, who participates in the Arkansas State Highway Employees' Deferred Retirement Option Plan for more than five (5) years shall contribute six percent (6%) of his or her gross salary to the Arkansas State Highway Employees' Retirement System. (B) An employee hired after June 30, 2021, shall contribute the current member contribution rate for active members to the Arkansas State Highway Employees' Retirement System as prescribed in § 24-5-108 . (4) In order to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan longer than five (5) years, the amount deposited into the member's deferred retirement option plan account shall be cost neutral to the system, and the system's actuary shall determine this amount. (c) The board may determine any other provisions of the plan, such as the amount of credited service to participate, the method of collections for participants of the Arkansas State Highway Employees' Deferred Retirement Option Plan, and the payment methods in the event of the death of a participant. Amended by Act 2021, No. 150,§ 2, eff. 7/1/2021. Amended by Act 2021, No. 138,§ 2, eff. 7/1/2021. Amended by Act 2021, No. 138,§ 1, eff. 7/1/2021. Amended by Act 2017, No. 707,§ 284, eff. 8/1/2017. Acts 1997, No. 1073, § 2; 2003, No. 776, § 1.

(a) In the event a plan is established, the Arkansas State Highway Employees' Deferred Retirement Option Plan shall have, as a minimum, provisions which require that: (1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System approve of the person's participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (2) The member's deferred retirement benefits deposited into an account in which shall be accumulated the member's deferred option contributions plus interest; (3) The rate of interest to be credited to each member's deferred option account shall be an amount to be determined by the board, to be paid on the mean balance in the account for the fiscal year; (4) When a member begins participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan, the member's contributions and the state's contributions, as employer, to the Arkansas State Highway Employees' Retirement System shall be as follows: (A) Beginning on July 1, 2021, the state shall remit contributions to the Arkansas State Highway Employees' Retirement System for a member participating in the Arkansas State Highway Employees' Deferred Retirement Option Plan in an amount equal to the employer contribution for an active employee as prescribed in § 24-5-109 ; (B) For an employee hired before July 1, 2021, the employee contribution to the Arkansas State Highway Employees' Retirement System shall cease upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; and (C) For an employee hired after June 30, 2021, the employee shall be required to remit member contributions to the Arkansas State Highway Employees' Retirement System in an amount equal to the current active employee contribution rate upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (5) A member's selection of the deferred retirement option, the time of the retirement deferral, and the selection of the retirement annuity are irrevocable; (6) The duration of participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan shall not exceed five (5) years except under subsection (b) of this section; and (7) (A) The service retirement benefit for a member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall not include an amount added to the member's annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) . (B) A member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall be eligible to receive an amount added to his or her annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) if: (i) The member ceases participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (ii) The member terminates his or her employment with the Arkansas Department of Transportation; and (iii) Annuity benefit payments to the member begin.

(1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System approve of the person's participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan;

(2) The member's deferred retirement benefits deposited into an account in which shall be accumulated the member's deferred option contributions plus interest;

(3) The rate of interest to be credited to each member's deferred option account shall be an amount to be determined by the board, to be paid on the mean balance in the account for the fiscal year;

(4) When a member begins participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan, the member's contributions and the state's contributions, as employer, to the Arkansas State Highway Employees' Retirement System shall be as follows: (A) Beginning on July 1, 2021, the state shall remit contributions to the Arkansas State Highway Employees' Retirement System for a member participating in the Arkansas State Highway Employees' Deferred Retirement Option Plan in an amount equal to the employer contribution for an active employee as prescribed in § 24-5-109 ; (B) For an employee hired before July 1, 2021, the employee contribution to the Arkansas State Highway Employees' Retirement System shall cease upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; and (C) For an employee hired after June 30, 2021, the employee shall be required to remit member contributions to the Arkansas State Highway Employees' Retirement System in an amount equal to the current active employee contribution rate upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan;

(A) Beginning on July 1, 2021, the state shall remit contributions to the Arkansas State Highway Employees' Retirement System for a member participating in the Arkansas State Highway Employees' Deferred Retirement Option Plan in an amount equal to the employer contribution for an active employee as prescribed in § 24-5-109 ;

(B) For an employee hired before July 1, 2021, the employee contribution to the Arkansas State Highway Employees' Retirement System shall cease upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; and

(C) For an employee hired after June 30, 2021, the employee shall be required to remit member contributions to the Arkansas State Highway Employees' Retirement System in an amount equal to the current active employee contribution rate upon beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan;

(5) A member's selection of the deferred retirement option, the time of the retirement deferral, and the selection of the retirement annuity are irrevocable;

(6) The duration of participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan shall not exceed five (5) years except under subsection (b) of this section; and

(7) (A) The service retirement benefit for a member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall not include an amount added to the member's annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) . (B) A member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall be eligible to receive an amount added to his or her annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) if: (i) The member ceases participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (ii) The member terminates his or her employment with the Arkansas Department of Transportation; and (iii) Annuity benefit payments to the member begin.

(A) The service retirement benefit for a member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall not include an amount added to the member's annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) .

(B) A member beginning participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan after June 30, 2021, shall be eligible to receive an amount added to his or her annuity to offset the cost of health insurance and health care as provided in § 24-5-125(a)(1) if: (i) The member ceases participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan; (ii) The member terminates his or her employment with the Arkansas Department of Transportation; and (iii) Annuity benefit payments to the member begin.

(i) The member ceases participation in the Arkansas State Highway Employees' Deferred Retirement Option Plan;

(ii) The member terminates his or her employment with the Arkansas Department of Transportation; and

(iii) Annuity benefit payments to the member begin.

(b) (1) The member may participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the later of sixty-five (65) years of age or the fifth anniversary of the member's entry into the plan. (2) The member who enters the Arkansas State Highway Employees' Deferred Retirement Option Plan before sixty (60) years of age may continue to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the member retires or reaches sixty-five (65) years of age. (3) (A) An employee hired before July 1, 2021, who participates in the Arkansas State Highway Employees' Deferred Retirement Option Plan for more than five (5) years shall contribute six percent (6%) of his or her gross salary to the Arkansas State Highway Employees' Retirement System. (B) An employee hired after June 30, 2021, shall contribute the current member contribution rate for active members to the Arkansas State Highway Employees' Retirement System as prescribed in § 24-5-108 . (4) In order to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan longer than five (5) years, the amount deposited into the member's deferred retirement option plan account shall be cost neutral to the system, and the system's actuary shall determine this amount.

(1) The member may participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the later of sixty-five (65) years of age or the fifth anniversary of the member's entry into the plan.

(2) The member who enters the Arkansas State Highway Employees' Deferred Retirement Option Plan before sixty (60) years of age may continue to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan until the member retires or reaches sixty-five (65) years of age.

(3) (A) An employee hired before July 1, 2021, who participates in the Arkansas State Highway Employees' Deferred Retirement Option Plan for more than five (5) years shall contribute six percent (6%) of his or her gross salary to the Arkansas State Highway Employees' Retirement System. (B) An employee hired after June 30, 2021, shall contribute the current member contribution rate for active members to the Arkansas State Highway Employees' Retirement System as prescribed in § 24-5-108 .

(A) An employee hired before July 1, 2021, who participates in the Arkansas State Highway Employees' Deferred Retirement Option Plan for more than five (5) years shall contribute six percent (6%) of his or her gross salary to the Arkansas State Highway Employees' Retirement System.

(B) An employee hired after June 30, 2021, shall contribute the current member contribution rate for active members to the Arkansas State Highway Employees' Retirement System as prescribed in § 24-5-108 .

(4) In order to participate in the Arkansas State Highway Employees' Deferred Retirement Option Plan longer than five (5) years, the amount deposited into the member's deferred retirement option plan account shall be cost neutral to the system, and the system's actuary shall determine this amount.

(c) The board may determine any other provisions of the plan, such as the amount of credited service to participate, the method of collections for participants of the Arkansas State Highway Employees' Deferred Retirement Option Plan, and the payment methods in the event of the death of a participant.

Amended by Act 2021, No. 150,§ 2, eff. 7/1/2021.

Amended by Act 2021, No. 138,§ 2, eff. 7/1/2021.

Amended by Act 2021, No. 138,§ 1, eff. 7/1/2021.

Amended by Act 2017, No. 707,§ 284, eff. 8/1/2017.

Acts 1997, No. 1073, § 2; 2003, No. 776, § 1.
Ark. Code Ann. § 24-4-804 — AR Code / Title 24 / Chapter 4 / Subchapter 8 / Section 24-4-804
Cessation of participation - Definition
Status: in_force

(a) The member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service. (b) (1) (A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit. (B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts. (2) Furthermore, when the member's participation in the plan ceases, the board shall cause the member's annuity benefit to be paid directly to the member in the form of regular monthly amounts in the same amount and manner as would have been the case if the member had retired on the deferred retirement option date and had made the same election pursuant to § 24-4-606 that was made on or before the deferred retirement option date. (c) (1) When a member's participation in the plan ceases, the member shall separate from service as provided in § 24-4-520 unless the separation period would prevent a popularly elected official from taking or holding office. (2) (A) (i) This section does not apply to a member who: (a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board. (ii) This section does not apply to a member who: (a) Was an employee of the Department of Agriculture; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the department. (B) As used in subdivision (c)(2)(A) of this section, "essential seasonal staff member" means an employee of the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board who: (i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and (ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis: (a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or (b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board. Amended by Act 2023, No. 527,§ 2, eff. 8/1/2023. Amended by Act 2019, No. 910,§ 121, eff. 7/1/2019. Amended by Act 2019, No. 624,§ 1, eff. 4/1/2019. Amended by Act 2019, No. 448,§ 12, eff. 3/13/2019. Amended by Act 2017, No. 552,§ 1, eff. 1/1/2018. Acts 1997, No. 1052, § 4; 2001, No. 151, § 51; 2011, No. 38, § 9.

(a) The member's participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service.

(b) (1) (A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit. (B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts. (2) Furthermore, when the member's participation in the plan ceases, the board shall cause the member's annuity benefit to be paid directly to the member in the form of regular monthly amounts in the same amount and manner as would have been the case if the member had retired on the deferred retirement option date and had made the same election pursuant to § 24-4-606 that was made on or before the deferred retirement option date.

(1) (A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit. (B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts.

(A) When the member's participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or as a monthly benefit paid in the form elected by the member for payment of the deferred retirement benefit.

(B) The Board of Trustees of the Arkansas Public Employees' Retirement System shall determine factors to be used for the conversion of deferred option account balances to monthly amounts.

(2) Furthermore, when the member's participation in the plan ceases, the board shall cause the member's annuity benefit to be paid directly to the member in the form of regular monthly amounts in the same amount and manner as would have been the case if the member had retired on the deferred retirement option date and had made the same election pursuant to § 24-4-606 that was made on or before the deferred retirement option date.

(c) (1) When a member's participation in the plan ceases, the member shall separate from service as provided in § 24-4-520 unless the separation period would prevent a popularly elected official from taking or holding office. (2) (A) (i) This section does not apply to a member who: (a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board. (ii) This section does not apply to a member who: (a) Was an employee of the Department of Agriculture; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the department. (B) As used in subdivision (c)(2)(A) of this section, "essential seasonal staff member" means an employee of the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board who: (i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and (ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis: (a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or (b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(1) When a member's participation in the plan ceases, the member shall separate from service as provided in § 24-4-520 unless the separation period would prevent a popularly elected official from taking or holding office.

(2) (A) (i) This section does not apply to a member who: (a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board. (ii) This section does not apply to a member who: (a) Was an employee of the Department of Agriculture; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the department. (B) As used in subdivision (c)(2)(A) of this section, "essential seasonal staff member" means an employee of the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board who: (i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and (ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis: (a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or (b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(A) (i) This section does not apply to a member who: (a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board. (ii) This section does not apply to a member who: (a) Was an employee of the Department of Agriculture; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the department.

(i) This section does not apply to a member who: (a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(a) Was an employee of the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board;

(b) Is a participant in the plan; and

(c) Is an essential seasonal staff member with the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(ii) This section does not apply to a member who: (a) Was an employee of the Department of Agriculture; (b) Is a participant in the plan; and (c) Is an essential seasonal staff member with the department.

(a) Was an employee of the Department of Agriculture;

(b) Is a participant in the plan; and

(c) Is an essential seasonal staff member with the department.

(B) As used in subdivision (c)(2)(A) of this section, "essential seasonal staff member" means an employee of the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board who: (i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and (ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis: (a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or (b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(i) Has specialized knowledge, skill, or training pertaining to necessary duties or tasks to be completed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board in times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; and

(ii) Is employed by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board on a part-time basis: (a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or (b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

(a) During times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board; or

(b) As an instructor to train other staff for times of emergency, disaster cleanup, extreme weather, or other circumstances deemed pressing by the department, the Arkansas Forestry Commission, the Arkansas Livestock and Poultry Commission, or the State Plant Board.

Amended by Act 2023, No. 527,§ 2, eff. 8/1/2023.

Amended by Act 2019, No. 910,§ 121, eff. 7/1/2019.

Amended by Act 2019, No. 624,§ 1, eff. 4/1/2019.

Amended by Act 2019, No. 448,§ 12, eff. 3/13/2019.

Amended by Act 2017, No. 552,§ 1, eff. 1/1/2018.

Acts 1997, No. 1052, § 4; 2001, No. 151, § 51; 2011, No. 38, § 9.
Ark. Code Ann. § 24-11-833 — AR Code / Title 24 / Chapter 11 / Subchapter 8 / Section 24-11-833
Fire-related service
Status: in_force

(a) A member of a firemen's relief and pension fund who has fire-related service with the municipal government is entitled to purchase credited service in the system equivalent to the amount of employment service he or she has with the municipal fire department in a position as fire-related employment service up to a maximum of three (3) years of credited service, provided that the member contributes to the system an amount as the Arkansas Fire and Police Pension Review Board shall determine would be actuarially equivalent to the value of the service purchased. (b) The board shall have the final power to determine the value of the service purchased. (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. (d) As used in this section, "fire-related service" means service with a municipality that has firefighters covered under a firemen's relief and pension fund in a job or in a paid position within a covered fire department or fire department where the person performs duties that are related to the delivery of fire services, including service such as a fire department radio dispatcher or other similar service. Amended by Act 2013, No. 41,§ 35, eff. 2/6/2013. Acts 1999, No. 1171, § 2.

(a) A member of a firemen's relief and pension fund who has fire-related service with the municipal government is entitled to purchase credited service in the system equivalent to the amount of employment service he or she has with the municipal fire department in a position as fire-related employment service up to a maximum of three (3) years of credited service, provided that the member contributes to the system an amount as the Arkansas Fire and Police Pension Review Board shall determine would be actuarially equivalent to the value of the service purchased.

(b) The board shall have the final power to determine the value of the service purchased.

(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.

(d) As used in this section, "fire-related service" means service with a municipality that has firefighters covered under a firemen's relief and pension fund in a job or in a paid position within a covered fire department or fire department where the person performs duties that are related to the delivery of fire services, including service such as a fire department radio dispatcher or other similar service.

Amended by Act 2013, No. 41,§ 35, eff. 2/6/2013.

Acts 1999, No. 1171, § 2.
Ark. Code Ann. § 24-10-609 — AR Code / Title 24 / Chapter 10 / Subchapter 6 / Section 24-10-609
Death of member in volunteer service
Status: in_force

(a) (1) If an active member who has accrued five (5) or more years of credited service, including credited service for the year immediately preceding his or her death, or who has attained his or her normal retirement age dies in employer volunteer service before retirement, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 . (2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary. (b) (1) If an active member dies in employer volunteer service before retirement as a result of a personal injury or disease that the Board of Trustees of the Arkansas Local Police and Fire Retirement System finds to have arisen out of and in the course of his or her actual performance of duty as an employee, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 . (2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary. (3) For the sole purpose of computing the amount of the annuity on account of any member who does not have twenty-five (25) years of credited volunteer service in force at time of death, credited volunteer service shall be granted for the period from the date of his or her death to the date he or she would have completed twenty-five (25) years of credited volunteer service. (c) (1) (A) Upon a member's death while in volunteer service and in qualifying circumstances provided in subsections (a) and (b) of this section, his or her dependent children shall each receive an annuity of fifteen dollars ($15.00) monthly. (B) However, while there are three (3) or more dependent children, each dependent child shall receive an annuity of an equal share of forty dollars ($40.00) monthly. (2) Upon a child's ceasing to be a dependent child, his or her annuity shall terminate, and there shall be a redetermination of the amounts payable to any remaining dependent children. (d) Annuities payable under the provisions of this section shall commence the first day of the calendar month next following the date of the member's death or a later date specified for the commencement of annuity payments. (e) A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for benefits under this section. Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013. Amended by Act 2013, No. 1065,§ 9, eff. 4/11/2013. Acts 1981, No. 364, § 5; 1983, No. 654, § 1; A.S.A. 1947, § 12-3805; Acts 1995, No. 1031, § 2; 2003, No. 477, § 1.

(a) (1) If an active member who has accrued five (5) or more years of credited service, including credited service for the year immediately preceding his or her death, or who has attained his or her normal retirement age dies in employer volunteer service before retirement, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 . (2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary.

(1) If an active member who has accrued five (5) or more years of credited service, including credited service for the year immediately preceding his or her death, or who has attained his or her normal retirement age dies in employer volunteer service before retirement, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 .

(2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary.

(A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ;

(B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and

(C) Nominated the spouse as joint beneficiary.

(b) (1) If an active member dies in employer volunteer service before retirement as a result of a personal injury or disease that the Board of Trustees of the Arkansas Local Police and Fire Retirement System finds to have arisen out of and in the course of his or her actual performance of duty as an employee, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 . (2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary. (3) For the sole purpose of computing the amount of the annuity on account of any member who does not have twenty-five (25) years of credited volunteer service in force at time of death, credited volunteer service shall be granted for the period from the date of his or her death to the date he or she would have completed twenty-five (25) years of credited volunteer service.

(1) If an active member dies in employer volunteer service before retirement as a result of a personal injury or disease that the Board of Trustees of the Arkansas Local Police and Fire Retirement System finds to have arisen out of and in the course of his or her actual performance of duty as an employee, the applicable benefits provided in this subsection and subsection (c) of this section shall be paid, subject to § 24-10-610 .

(2) His or her surviving spouse, who was married to the member at least one (1) year immediately preceding his or her death, shall receive an annuity computed in the same manner in all respects as if the member had: (A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ; (B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and (C) Nominated the spouse as joint beneficiary.

(A) Retired the date of his or her death with entitlement to an annuity provided for in § 24-10-602 ;

(B) Elected Option B50 survivor beneficiary annuity provided for in § 24-10-603 ; and

(C) Nominated the spouse as joint beneficiary.

(3) For the sole purpose of computing the amount of the annuity on account of any member who does not have twenty-five (25) years of credited volunteer service in force at time of death, credited volunteer service shall be granted for the period from the date of his or her death to the date he or she would have completed twenty-five (25) years of credited volunteer service.

(c) (1) (A) Upon a member's death while in volunteer service and in qualifying circumstances provided in subsections (a) and (b) of this section, his or her dependent children shall each receive an annuity of fifteen dollars ($15.00) monthly. (B) However, while there are three (3) or more dependent children, each dependent child shall receive an annuity of an equal share of forty dollars ($40.00) monthly. (2) Upon a child's ceasing to be a dependent child, his or her annuity shall terminate, and there shall be a redetermination of the amounts payable to any remaining dependent children.

(1) (A) Upon a member's death while in volunteer service and in qualifying circumstances provided in subsections (a) and (b) of this section, his or her dependent children shall each receive an annuity of fifteen dollars ($15.00) monthly. (B) However, while there are three (3) or more dependent children, each dependent child shall receive an annuity of an equal share of forty dollars ($40.00) monthly.

(A) Upon a member's death while in volunteer service and in qualifying circumstances provided in subsections (a) and (b) of this section, his or her dependent children shall each receive an annuity of fifteen dollars ($15.00) monthly.

(B) However, while there are three (3) or more dependent children, each dependent child shall receive an annuity of an equal share of forty dollars ($40.00) monthly.

(2) Upon a child's ceasing to be a dependent child, his or her annuity shall terminate, and there shall be a redetermination of the amounts payable to any remaining dependent children.

(d) Annuities payable under the provisions of this section shall commence the first day of the calendar month next following the date of the member's death or a later date specified for the commencement of annuity payments.

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

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

Amended by Act 2013, No. 1065,§ 9, eff. 4/11/2013.

Acts 1981, No. 364, § 5; 1983, No. 654, § 1; A.S.A. 1947, § 12-3805; Acts 1995, No. 1031, § 2; 2003, No. 477, § 1.
Ark. Code Ann. § 24-2-505 — AR Code / Title 24 / Chapter 2 / Subchapter 5 / Section 24-2-505
Compliance with Heroes Earnings Assistance and Relief Tax Act of 2008
Status: in_force

(a) (1) In the case of a member who dies while performing qualified military service, including state active military duty, on or after January 1, 2011, and who otherwise would have been entitled to reemployment rights under the Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. § 4301 et seq., as in effect on January 1, 2011, the survivors of that member are entitled to any additional benefits that would have been provided under the public employee retirement plan had the member resumed employment with a covered employer on the day preceding his or her death and then terminated employment on the actual date of death. (2) Subdivision (a)(1) of this section does not apply to benefit accruals relating to the period of qualified military service. (3) The member's qualified military service shall be counted for purposes of determining whether the individual in issue was vested with the public employee retirement plan. (b) In the case of a member who becomes disabled while performing qualified military service, including state active military duty, on or after January 1, 2011, and who otherwise would have been entitled to reemployment rights under the federal Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. § 4301 et seq., as in effect on January 1, 2011, that member is considered to have resumed employment with a covered employer on the day preceding the onset of his or her disability and then terminated employment on the actual date he or she became disabled. (c) A member who dies or becomes disabled while performing qualified military service, including state active military duty, is deemed to have made employee contributions for the purpose of determining benefits other than benefit accruals that are contingent on those contributions for the period of qualified military service. (d) This section applies to each public retirement system unless the system has a specific provision regarding the Heroes Earnings Assistance and Relief Tax Act of 2008, Pub. L. No. 110-245, already in its law. Amended by Act 2019, No. 474,§ 3, eff. 7/24/2019. Amended by Act 2019, No. 474,§ 2, eff. 7/24/2019. Acts 2011, No. 38, § 5.

(a) (1) In the case of a member who dies while performing qualified military service, including state active military duty, on or after January 1, 2011, and who otherwise would have been entitled to reemployment rights under the Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. § 4301 et seq., as in effect on January 1, 2011, the survivors of that member are entitled to any additional benefits that would have been provided under the public employee retirement plan had the member resumed employment with a covered employer on the day preceding his or her death and then terminated employment on the actual date of death. (2) Subdivision (a)(1) of this section does not apply to benefit accruals relating to the period of qualified military service. (3) The member's qualified military service shall be counted for purposes of determining whether the individual in issue was vested with the public employee retirement plan.

(1) In the case of a member who dies while performing qualified military service, including state active military duty, on or after January 1, 2011, and who otherwise would have been entitled to reemployment rights under the Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. § 4301 et seq., as in effect on January 1, 2011, the survivors of that member are entitled to any additional benefits that would have been provided under the public employee retirement plan had the member resumed employment with a covered employer on the day preceding his or her death and then terminated employment on the actual date of death.

(2) Subdivision (a)(1) of this section does not apply to benefit accruals relating to the period of qualified military service.

(3) The member's qualified military service shall be counted for purposes of determining whether the individual in issue was vested with the public employee retirement plan.

(b) In the case of a member who becomes disabled while performing qualified military service, including state active military duty, on or after January 1, 2011, and who otherwise would have been entitled to reemployment rights under the federal Uniformed Services Employment and Reemployment Rights Act, 38 U.S.C. § 4301 et seq., as in effect on January 1, 2011, that member is considered to have resumed employment with a covered employer on the day preceding the onset of his or her disability and then terminated employment on the actual date he or she became disabled.

(c) A member who dies or becomes disabled while performing qualified military service, including state active military duty, is deemed to have made employee contributions for the purpose of determining benefits other than benefit accruals that are contingent on those contributions for the period of qualified military service.

(d) This section applies to each public retirement system unless the system has a specific provision regarding the Heroes Earnings Assistance and Relief Tax Act of 2008, Pub. L. No. 110-245, already in its law.

Amended by Act 2019, No. 474,§ 3, eff. 7/24/2019.

Amended by Act 2019, No. 474,§ 2, eff. 7/24/2019.

Acts 2011, No. 38, § 5.
Ark. Code Ann. § 24-7-502 — AR Code / Title 24 / Chapter 7 / Subchapter 5 / Section 24-7-502
Termination of active membership - Definitions
Status: in_force

(a) (1) A member of the Arkansas Teacher Retirement System shall terminate covered employment and remain terminated during the member's applicable termination separation period to become and remain eligible for retirement. (2) Effective July 1, 2023, a member shall not be terminated from employment for purposes of retirement eligibility if within the fourth full calendar month of the member's effective date of retirement the member: (A) Becomes employed with a covered employer; and (B) Has not attained the system's normal retirement age. (3) A member who fails to meet both the termination requirement and the termination separation period requirement of this subsection shall: (A) Repay retirement benefits paid during the period the member did not meet the requirements; and (B) Forfeit all future retirement benefits until the member files a new completed retirement application using the standard system process. (4) The system may require the repayment of retirement benefits, interest, and distributions from the member directly or indirectly by using the system's standard withholding rule. (5) If a member fails to meet the termination requirement or to complete the termination separation period, then the member is not eligible to receive retirement benefits until the member files a new completed retirement application using the standard system process. The member shall be subject to a new termination separation period. (6) During the termination separation period, the member shall remain terminated and shall not: (A) Form an employment relationship with a covered employer; (B) Render any compensable services to or on behalf of a covered employer, except that a member may perform volunteer activities for a covered employer that do not have the effect of holding a position open for the member during a termination separation period; (C) Exercise any authority to act as a representative of a covered employer or exercise any authority over employees of a covered employer; or (D) Be indirectly employed by or through an independent contractor, limited liability company, partnership, corporation, or legal entity that is employed by a covered employer if the member has substantial control of the employer-employee relationship, including without limitation the ability to negotiate rates of pay with the covered employer or assign work and work hours to the member. (b) (1) When a member is no longer employed by an employer in a position covered by the system, the person shall cease to be an active member of the system. (2) If an inactive member has not retired and later becomes reemployed by an employer in a position covered by the system, the member shall become an active member and be eligible to accrue additional service credit. (3) If the member's service credit during reemployment is less than one-fourth (¼) of a fiscal year under § 24-7-601 , he or she shall be considered to be an inactive member at the termination of the reemployed service, and the only monthly benefits payable shall be those provided by § 24-7-707 . (c) Upon a member's retirement, the person shall cease to be an active member and, except as otherwise provided in this act, he or she shall not accrue additional service credit or make contributions to the system. (d) As used in this section: (1) (A) "Terminate" means: (i) The member's covered employment has ended at all covered employers; (ii) A complete severance of the employer-employee relationship has occurred at all covered employers that the member was employed with before the member retired from the Arkansas Teacher Retirement System; (iii) The member has ceased performing any employment services for any covered employer, except for uncompensated functions related to the transfer of the duties or the transfer of the position of the member; (iv) The member has not formed any express or implied employment agreement or taken action that would obligate the member to render compensable services to a covered employer or entitle a covered employer to the services of the member after the termination separation period; (v) The member has followed normal retirement procedures for resigning from the covered employer unless involuntarily terminated before the member's effective date of retirement; and (vi) All covered employers have paid or have initiated the process to pay all accumulated benefits such as annual leave and sick leave to the member by the effective date of retirement. (B) "Terminate" does not mean: (i) Taking a leave of absence; or (ii) Performing any job duties or services without remuneration, except for the functions related to the transfer of duties or the transfer of the position itself. (C) Providing volunteer activities at a covered employer that does not have the effect of holding a position open for the member during a termination separation period does not mean that the member is not terminated; and (2) "Termination separation period" means the time from a member's effective date of retirement until the date that the member is no longer prohibited by state law from returning to work at a covered employer. Amended by Act 2023, No. 436,§ 3, eff. 8/1/2023. Amended by Act 2023, No. 183,§ 1, eff. 7/1/2023. Amended by Act 2023, No. 107,§ 27, eff. 7/1/2023. Amended by Act 2021, No. 290,§ 2, eff. 9/1/2021. Amended by Act 2021, No. 279,§ 9, eff. 7/1/2021. Amended by Act 2021, No. 190,§ 4, eff. 7/1/2021. Acts 1973, No. 427, § 6; 1975, No. 549, § 3; 1977, No. 541, § 2; 1981, No. 365, § 3; 1983, No. 619, § 6; 1983, No. 665, § 6; A.S.A. 1947, § 80-1440.3; Acts 1989, No. 652, § 5; 1993, No. 435, § 6; 1995, No. 542, § 4; 2001, No. 1146, § 1; 2007, No. 97, § 7; 2009, No. 743, § 1; 2011, No. 45, § 3.; 2011, No. 69, § 12; 2011, No. 565, §§ 1, 2; 2011, No. 974, § 2.

(a) (1) A member of the Arkansas Teacher Retirement System shall terminate covered employment and remain terminated during the member's applicable termination separation period to become and remain eligible for retirement. (2) Effective July 1, 2023, a member shall not be terminated from employment for purposes of retirement eligibility if within the fourth full calendar month of the member's effective date of retirement the member: (A) Becomes employed with a covered employer; and (B) Has not attained the system's normal retirement age. (3) A member who fails to meet both the termination requirement and the termination separation period requirement of this subsection shall: (A) Repay retirement benefits paid during the period the member did not meet the requirements; and (B) Forfeit all future retirement benefits until the member files a new completed retirement application using the standard system process. (4) The system may require the repayment of retirement benefits, interest, and distributions from the member directly or indirectly by using the system's standard withholding rule. (5) If a member fails to meet the termination requirement or to complete the termination separation period, then the member is not eligible to receive retirement benefits until the member files a new completed retirement application using the standard system process. The member shall be subject to a new termination separation period. (6) During the termination separation period, the member shall remain terminated and shall not: (A) Form an employment relationship with a covered employer; (B) Render any compensable services to or on behalf of a covered employer, except that a member may perform volunteer activities for a covered employer that do not have the effect of holding a position open for the member during a termination separation period; (C) Exercise any authority to act as a representative of a covered employer or exercise any authority over employees of a covered employer; or (D) Be indirectly employed by or through an independent contractor, limited liability company, partnership, corporation, or legal entity that is employed by a covered employer if the member has substantial control of the employer-employee relationship, including without limitation the ability to negotiate rates of pay with the covered employer or assign work and work hours to the member.

(1) A member of the Arkansas Teacher Retirement System shall terminate covered employment and remain terminated during the member's applicable termination separation period to become and remain eligible for retirement.

(2) Effective July 1, 2023, a member shall not be terminated from employment for purposes of retirement eligibility if within the fourth full calendar month of the member's effective date of retirement the member: (A) Becomes employed with a covered employer; and (B) Has not attained the system's normal retirement age.

(A) Becomes employed with a covered employer; and

(B) Has not attained the system's normal retirement age.

(3) A member who fails to meet both the termination requirement and the termination separation period requirement of this subsection shall: (A) Repay retirement benefits paid during the period the member did not meet the requirements; and (B) Forfeit all future retirement benefits until the member files a new completed retirement application using the standard system process.

(A) Repay retirement benefits paid during the period the member did not meet the requirements; and

(B) Forfeit all future retirement benefits until the member files a new completed retirement application using the standard system process.

(4) The system may require the repayment of retirement benefits, interest, and distributions from the member directly or indirectly by using the system's standard withholding rule.

(5) If a member fails to meet the termination requirement or to complete the termination separation period, then the member is not eligible to receive retirement benefits until the member files a new completed retirement application using the standard system process. The member shall be subject to a new termination separation period.

(6) During the termination separation period, the member shall remain terminated and shall not: (A) Form an employment relationship with a covered employer; (B) Render any compensable services to or on behalf of a covered employer, except that a member may perform volunteer activities for a covered employer that do not have the effect of holding a position open for the member during a termination separation period; (C) Exercise any authority to act as a representative of a covered employer or exercise any authority over employees of a covered employer; or (D) Be indirectly employed by or through an independent contractor, limited liability company, partnership, corporation, or legal entity that is employed by a covered employer if the member has substantial control of the employer-employee relationship, including without limitation the ability to negotiate rates of pay with the covered employer or assign work and work hours to the member.

(A) Form an employment relationship with a covered employer;

(B) Render any compensable services to or on behalf of a covered employer, except that a member may perform volunteer activities for a covered employer that do not have the effect of holding a position open for the member during a termination separation period;

(C) Exercise any authority to act as a representative of a covered employer or exercise any authority over employees of a covered employer; or

(D) Be indirectly employed by or through an independent contractor, limited liability company, partnership, corporation, or legal entity that is employed by a covered employer if the member has substantial control of the employer-employee relationship, including without limitation the ability to negotiate rates of pay with the covered employer or assign work and work hours to the member.

(b) (1) When a member is no longer employed by an employer in a position covered by the system, the person shall cease to be an active member of the system. (2) If an inactive member has not retired and later becomes reemployed by an employer in a position covered by the system, the member shall become an active member and be eligible to accrue additional service credit. (3) If the member's service credit during reemployment is less than one-fourth (¼) of a fiscal year under § 24-7-601 , he or she shall be considered to be an inactive member at the termination of the reemployed service, and the only monthly benefits payable shall be those provided by § 24-7-707 .

(1) When a member is no longer employed by an employer in a position covered by the system, the person shall cease to be an active member of the system.

(2) If an inactive member has not retired and later becomes reemployed by an employer in a position covered by the system, the member shall become an active member and be eligible to accrue additional service credit.

(3) If the member's service credit during reemployment is less than one-fourth (¼) of a fiscal year under § 24-7-601 , he or she shall be considered to be an inactive member at the termination of the reemployed service, and the only monthly benefits payable shall be those provided by § 24-7-707 .

(c) Upon a member's retirement, the person shall cease to be an active member and, except as otherwise provided in this act, he or she shall not accrue additional service credit or make contributions to the system.

(d) As used in this section: (1) (A) "Terminate" means: (i) The member's covered employment has ended at all covered employers; (ii) A complete severance of the employer-employee relationship has occurred at all covered employers that the member was employed with before the member retired from the Arkansas Teacher Retirement System; (iii) The member has ceased performing any employment services for any covered employer, except for uncompensated functions related to the transfer of the duties or the transfer of the position of the member; (iv) The member has not formed any express or implied employment agreement or taken action that would obligate the member to render compensable services to a covered employer or entitle a covered employer to the services of the member after the termination separation period; (v) The member has followed normal retirement procedures for resigning from the covered employer unless involuntarily terminated before the member's effective date of retirement; and (vi) All covered employers have paid or have initiated the process to pay all accumulated benefits such as annual leave and sick leave to the member by the effective date of retirement. (B) "Terminate" does not mean: (i) Taking a leave of absence; or (ii) Performing any job duties or services without remuneration, except for the functions related to the transfer of duties or the transfer of the position itself. (C) Providing volunteer activities at a covered employer that does not have the effect of holding a position open for the member during a termination separation period does not mean that the member is not terminated; and (2) "Termination separation period" means the time from a member's effective date of retirement until the date that the member is no longer prohibited by state law from returning to work at a covered employer.

(1) (A) "Terminate" means: (i) The member's covered employment has ended at all covered employers; (ii) A complete severance of the employer-employee relationship has occurred at all covered employers that the member was employed with before the member retired from the Arkansas Teacher Retirement System; (iii) The member has ceased performing any employment services for any covered employer, except for uncompensated functions related to the transfer of the duties or the transfer of the position of the member; (iv) The member has not formed any express or implied employment agreement or taken action that would obligate the member to render compensable services to a covered employer or entitle a covered employer to the services of the member after the termination separation period; (v) The member has followed normal retirement procedures for resigning from the covered employer unless involuntarily terminated before the member's effective date of retirement; and (vi) All covered employers have paid or have initiated the process to pay all accumulated benefits such as annual leave and sick leave to the member by the effective date of retirement. (B) "Terminate" does not mean: (i) Taking a leave of absence; or (ii) Performing any job duties or services without remuneration, except for the functions related to the transfer of duties or the transfer of the position itself. (C) Providing volunteer activities at a covered employer that does not have the effect of holding a position open for the member during a termination separation period does not mean that the member is not terminated; and

(A) "Terminate" means: (i) The member's covered employment has ended at all covered employers; (ii) A complete severance of the employer-employee relationship has occurred at all covered employers that the member was employed with before the member retired from the Arkansas Teacher Retirement System; (iii) The member has ceased performing any employment services for any covered employer, except for uncompensated functions related to the transfer of the duties or the transfer of the position of the member; (iv) The member has not formed any express or implied employment agreement or taken action that would obligate the member to render compensable services to a covered employer or entitle a covered employer to the services of the member after the termination separation period; (v) The member has followed normal retirement procedures for resigning from the covered employer unless involuntarily terminated before the member's effective date of retirement; and (vi) All covered employers have paid or have initiated the process to pay all accumulated benefits such as annual leave and sick leave to the member by the effective date of retirement.

(i) The member's covered employment has ended at all covered employers;

(ii) A complete severance of the employer-employee relationship has occurred at all covered employers that the member was employed with before the member retired from the Arkansas Teacher Retirement System;

(iii) The member has ceased performing any employment services for any covered employer, except for uncompensated functions related to the transfer of the duties or the transfer of the position of the member;

(iv) The member has not formed any express or implied employment agreement or taken action that would obligate the member to render compensable services to a covered employer or entitle a covered employer to the services of the member after the termination separation period;

(v) The member has followed normal retirement procedures for resigning from the covered employer unless involuntarily terminated before the member's effective date of retirement; and

(vi) All covered employers have paid or have initiated the process to pay all accumulated benefits such as annual leave and sick leave to the member by the effective date of retirement.

(B) "Terminate" does not mean: (i) Taking a leave of absence; or (ii) Performing any job duties or services without remuneration, except for the functions related to the transfer of duties or the transfer of the position itself.

(i) Taking a leave of absence; or

(ii) Performing any job duties or services without remuneration, except for the functions related to the transfer of duties or the transfer of the position itself.

(C) Providing volunteer activities at a covered employer that does not have the effect of holding a position open for the member during a termination separation period does not mean that the member is not terminated; and

(2) "Termination separation period" means the time from a member's effective date of retirement until the date that the member is no longer prohibited by state law from returning to work at a covered employer.

Amended by Act 2023, No. 436,§ 3, eff. 8/1/2023.

Amended by Act 2023, No. 183,§ 1, eff. 7/1/2023.

Amended by Act 2023, No. 107,§ 27, eff. 7/1/2023.

Amended by Act 2021, No. 290,§ 2, eff. 9/1/2021.

Amended by Act 2021, No. 279,§ 9, eff. 7/1/2021.

Amended by Act 2021, No. 190,§ 4, eff. 7/1/2021.

Acts 1973, No. 427, § 6; 1975, No. 549, § 3; 1977, No. 541, § 2; 1981, No. 365, § 3; 1983, No. 619, § 6; 1983, No. 665, § 6; A.S.A. 1947, § 80-1440.3; Acts 1989, No. 652, § 5; 1993, No. 435, § 6; 1995, No. 542, § 4; 2001, No. 1146, § 1; 2007, No. 97, § 7; 2009, No. 743, § 1; 2011, No. 45, § 3.; 2011, No. 69, § 12; 2011, No. 565, §§ 1, 2; 2011, No. 974, § 2.
Ark. Code Ann. § 24-8-902 — AR Code / Title 24 / Chapter 8 / Subchapter 9 / Section 24-8-902
Additional funding for district court clerks
Status: in_force

(a) A local government that has established a municipal judge's retirement fund shall contribute an amount of money to the Arkansas Public Employees' Retirement System that shall represent the actuarially determined accrued liability for those court clerks and former court clerks who are covered by the municipal judge's retirement fund on December 31, 2004. (b) The assets of the municipal judge's retirement fund equal to the benefit obligations for the court clerks under subsection (a) of this section shall be paid to the system on January 1, 2005. (c) (1) If the municipal judge's retirement fund does not have sufficient funds available to pay the benefit obligations for the court clerks under subsection (a) of this section to the system, then the remaining amount of actuarially determined accrued liability shall be paid on or before December 31 each year for up to the next thirty (30) years based on a thirty-year amortization period. (2) If the amount in the municipal judge's retirement fund is greater than the actuarially determined amount of the liabilities to be transferred to the system, that excess may be retained by the local government for the sole purpose of paying for the retirement benefits of district court clerks. (d) (1) The accrued benefit used to determine the accrued liability under this section shall be determined by: (A) Calculating the benefit that the court clerk would be eligible to receive on December 31, 2004, as provided by law before January 1, 2005, if the court clerk was eligible to begin receiving benefits on January 1, 2005; and (B) Multiplying the amount in subdivision (d)(1)(A) of this section by the number of years of eligible service and then dividing by the greater of: (i) The number of years of service needed to be eligible to retire; or (ii) The current years of eligible service. (2) The service years are to be determined under the law before January 1, 2005. Acts 2003, No. 1375, § 1; 2005, No. 1022, § 16; 2007, No. 177, § 13.

(a) A local government that has established a municipal judge's retirement fund shall contribute an amount of money to the Arkansas Public Employees' Retirement System that shall represent the actuarially determined accrued liability for those court clerks and former court clerks who are covered by the municipal judge's retirement fund on December 31, 2004.

(b) The assets of the municipal judge's retirement fund equal to the benefit obligations for the court clerks under subsection (a) of this section shall be paid to the system on January 1, 2005.

(c) (1) If the municipal judge's retirement fund does not have sufficient funds available to pay the benefit obligations for the court clerks under subsection (a) of this section to the system, then the remaining amount of actuarially determined accrued liability shall be paid on or before December 31 each year for up to the next thirty (30) years based on a thirty-year amortization period. (2) If the amount in the municipal judge's retirement fund is greater than the actuarially determined amount of the liabilities to be transferred to the system, that excess may be retained by the local government for the sole purpose of paying for the retirement benefits of district court clerks.

(1) If the municipal judge's retirement fund does not have sufficient funds available to pay the benefit obligations for the court clerks under subsection (a) of this section to the system, then the remaining amount of actuarially determined accrued liability shall be paid on or before December 31 each year for up to the next thirty (30) years based on a thirty-year amortization period.

(2) If the amount in the municipal judge's retirement fund is greater than the actuarially determined amount of the liabilities to be transferred to the system, that excess may be retained by the local government for the sole purpose of paying for the retirement benefits of district court clerks.

(d) (1) The accrued benefit used to determine the accrued liability under this section shall be determined by: (A) Calculating the benefit that the court clerk would be eligible to receive on December 31, 2004, as provided by law before January 1, 2005, if the court clerk was eligible to begin receiving benefits on January 1, 2005; and (B) Multiplying the amount in subdivision (d)(1)(A) of this section by the number of years of eligible service and then dividing by the greater of: (i) The number of years of service needed to be eligible to retire; or (ii) The current years of eligible service. (2) The service years are to be determined under the law before January 1, 2005.

(1) The accrued benefit used to determine the accrued liability under this section shall be determined by: (A) Calculating the benefit that the court clerk would be eligible to receive on December 31, 2004, as provided by law before January 1, 2005, if the court clerk was eligible to begin receiving benefits on January 1, 2005; and (B) Multiplying the amount in subdivision (d)(1)(A) of this section by the number of years of eligible service and then dividing by the greater of: (i) The number of years of service needed to be eligible to retire; or (ii) The current years of eligible service.

(A) Calculating the benefit that the court clerk would be eligible to receive on December 31, 2004, as provided by law before January 1, 2005, if the court clerk was eligible to begin receiving benefits on January 1, 2005; and

(B) Multiplying the amount in subdivision (d)(1)(A) of this section by the number of years of eligible service and then dividing by the greater of: (i) The number of years of service needed to be eligible to retire; or (ii) The current years of eligible service.

(i) The number of years of service needed to be eligible to retire; or

(ii) The current years of eligible service.

(2) The service years are to be determined under the law before January 1, 2005.

Acts 2003, No. 1375, § 1; 2005, No. 1022, § 16; 2007, No. 177, § 13.
Ark. Code Ann. § 24-8-901 — AR Code / Title 24 / Chapter 8 / Subchapter 9 / Section 24-8-901
Definition
Status: in_force

As used in this subchapter, "municipal judge's retirement fund" means a local municipal judge and clerk retirement fund established by a local government under § 24-8-301 et seq., § 24-8-401 et seq., or § 24-8-501 et seq. Acts 2003, No. 1375, § 1.

As used in this subchapter, "municipal judge's retirement fund" means a local municipal judge and clerk retirement fund established by a local government under § 24-8-301 et seq., § 24-8-401 et seq., or § 24-8-501 et seq.

Acts 2003, No. 1375, § 1.
Ark. Code Ann. § 24-5-109 — AR Code / Title 24 / Chapter 5 / Subchapter 1 / Section 24-5-109
Employer contributions
Status: in_force

(a) An employer contribution shall be a set percentage rate of the compensation of the employee as defined in § 24-5-101 and described in § 24-5-202 . (b) (1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall propose a set percentage rate after receiving recommendations from the actuary for the system. (2) The employer contribution rate recommended by the board shall be approved by the State Highway Commission. (3) The percentage rate shall not be less than twelve and nine-tenths percent (12.9%) of compensation. (4) The employer contribution rate shall be recommended based on a contribution policy established by the board. (5) The system shall use the contribution rate last approved by the commission until a new contribution rate is approved by the commission. Amended by Act 2021, No. 137,§ 1, eff. 7/28/2021. Amended by Act 2019, No. 295,§ 2, eff. 7/1/2019. Acts 1949, No. 454, § 10; 1953, No. 403, § 8; 1969, No. 167, § 6; 1975, No. 599, § 2; 1977, No. 722, § 2; 1979, No. 821, § 1; 1981, No. 295, §§ 8-10; A.S.A. 1947, § 76-1910.

(a) An employer contribution shall be a set percentage rate of the compensation of the employee as defined in § 24-5-101 and described in § 24-5-202 .

(b) (1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall propose a set percentage rate after receiving recommendations from the actuary for the system. (2) The employer contribution rate recommended by the board shall be approved by the State Highway Commission. (3) The percentage rate shall not be less than twelve and nine-tenths percent (12.9%) of compensation. (4) The employer contribution rate shall be recommended based on a contribution policy established by the board. (5) The system shall use the contribution rate last approved by the commission until a new contribution rate is approved by the commission.

(1) The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall propose a set percentage rate after receiving recommendations from the actuary for the system.

(2) The employer contribution rate recommended by the board shall be approved by the State Highway Commission.

(3) The percentage rate shall not be less than twelve and nine-tenths percent (12.9%) of compensation.

(4) The employer contribution rate shall be recommended based on a contribution policy established by the board.

(5) The system shall use the contribution rate last approved by the commission until a new contribution rate is approved by the commission.

Amended by Act 2021, No. 137,§ 1, eff. 7/28/2021.

Amended by Act 2019, No. 295,§ 2, eff. 7/1/2019.

Acts 1949, No. 454, § 10; 1953, No. 403, § 8; 1969, No. 167, § 6; 1975, No. 599, § 2; 1977, No. 722, § 2; 1979, No. 821, § 1; 1981, No. 295, §§ 8-10; A.S.A. 1947, § 76-1910.
Ark. Code Ann. § 24-5-129 — AR Code / Title 24 / Chapter 5 / Subchapter 1 / Section 24-5-129
Increase in monthly retirement benefit - Acts 1997, No. 349
Status: in_force

(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two and two-tenths percent (2.2%) above the annuity such retiree or beneficiary received for June 1997. (b) The increase in benefits as provided in this section shall be added to the annuity for the purpose of computing the annual postretirement increase as provided in § 24-5-119(a) for the benefit redetermination July 1, 1997. Acts 1997, No. 349.Acts 1997, No. 349, § 2.

(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two and two-tenths percent (2.2%) above the annuity such retiree or beneficiary received for June 1997.

(b) The increase in benefits as provided in this section shall be added to the annuity for the purpose of computing the annual postretirement increase as provided in § 24-5-119(a) for the benefit redetermination July 1, 1997.

Acts 1997, No. 349.Acts 1997, No. 349, § 2.
Ark. Code Ann. § 24-4-523 — AR Code / Title 24 / Chapter 4 / Subchapter 5 / Section 24-4-523
[Repealed]
Status: repealed

Repealed by Act 2013, No. 332,§ 10, eff. 3/14/2013. Acts 2001, No. 151, § 30.

Repealed by Act 2013, No. 332,§ 10, eff. 3/14/2013.

Acts 2001, No. 151, § 30.
Ark. Code Ann. § 24-11-428 — AR Code / Title 24 / Chapter 11 / Subchapter 4 / Section 24-11-428
Return of salary deductions
Status: in_force

In the event of resignation or discharge from the police department of any member thereof, all moneys deducted from his or her salary shall be immediately returned to him or her without interest. Acts 1937, No. 250, § 2; Pope's Dig., § 9857; Acts 1939, No. 11, §§ 1, 2; 1953, No. 86, § 1; 1957, No. 415, § 1; 1963, No. 211, § 1; 1969, No. 68, § 1; 1981, No. 486, § 2; 1983, No. 46, § 1; A.S.A. 1947, § 19-1802.

In the event of resignation or discharge from the police department of any member thereof, all moneys deducted from his or her salary shall be immediately returned to him or her without interest.

Acts 1937, No. 250, § 2; Pope's Dig., § 9857; Acts 1939, No. 11, §§ 1, 2; 1953, No. 86, § 1; 1957, No. 415, § 1; 1963, No. 211, § 1; 1969, No. 68, § 1; 1981, No. 486, § 2; 1983, No. 46, § 1; A.S.A. 1947, § 19-1802.
Ark. Code Ann. § 24-10-602 — AR Code / Title 24 / Chapter 10 / Subchapter 6 / Section 24-10-602
Annuity generally - Definitions
Status: in_force

(a) Upon a member's retirement, he or she shall receive an annuity for life in accordance with the applicable benefit program elected by his or her employer, as follows: (1) Benefit Program 1. (A) For each year of paid service resulting from employment: (i) In a position not also covered by Social Security, three percent (3%) of his or her final average pay; and (ii) In a position also covered by Social Security, two percent (2%) of his or her final average pay. (B) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored; (2) Benefit Program 2. (A) For each year of paid service rendered on or after the election date of the Benefit Program 2 and before the election is rescinded: (i) In a position also covered by Social Security, three percent (3%) of the member's final average salary; and (ii) In a position not covered by Social Security, three and thirty-four hundredths percent (3.34%) of the member's final average salary. (B) (i) For each year of paid service rendered before the election date of the Benefit Program 2 or after the election is rescinded: (a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and (b) In a position not covered by Social Security, three percent (3%) of the member's final average salary. (ii) A member who has paid service rendered before the election date of Benefit Program 2 or after the election is rescinded and subsequently readopted may have the paid service rendered on or after July 28, 1995, treated as though the paid service had been rendered after the election date of Benefit Program 2 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System. (iii) As used in subdivision (a)(2)(B)(ii) of this section, "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary. (C) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored; (3) As used in subdivisions (a)(1) and (2) of this section, "Social Security's minimum age for an immediate unreduced retirement benefit" means one (1) of the following: (A) If the member is retiring as provided in § 24-10-607 and is in receipt of a disability benefit under the Social Security Act, 42 U.S.C. § 301 et seq., the age when the Social Security disability benefit becomes effective; (B) If the member's retirement is effective before July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , age sixty-two (62); or (C) If the member's retirement is effective on or after July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , the minimum age for the member's receipt of an immediate unreduced Social Security old age benefit; (4) Benefit Program 3. (A) The total benefit amount computed under subdivisions (a)(1) and (2) of this section shall not exceed at the time of retirement one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(4)(B) of this section for volunteer service; (B) (i) For retirements effective before July 1, 2003, annuity amounts based upon volunteer service shall be in accordance with system provisions in force before July 1, 2003. (ii) For retirements effective July 1, 2003, and the twelve (12) calendar months thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), to a maximum of two hundred dollars ($200) monthly for all volunteer service. (iii) For retirements effective in the twelve (12) calendar months beginning July 1 thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), increased by any percentage increase in the inflation index for the period from December 2003 to the December immediately preceding the July 1, to a maximum for all volunteer service of two hundred dollars ($200) monthly, similarly increased by any percentage increase in the inflation index; and (5) Benefit Program 4. (A) For each year of volunteer service rendered on or after the election of Benefit Program 4 and before the election is rescinded: (i) The total benefit amount computed under subdivision (a)(2) of this section shall not at the time of retirement exceed one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(5)(B) of this section for volunteer service; and (ii) For retirements effective July 1, 2013, the monthly annuity amount for each year of volunteer service shall be ten dollars ($10.00), increased by any percentage increase in the inflation index for the calendar year preceding July 1, to a maximum of four hundred dollars ($400) monthly for all volunteer service. (B) The increased benefit associated with Benefit Program 4 in excess of that defined in Benefit Program 3 shall not be funded through an allocation of premium tax revenues. (C) The election of Benefit Program 4 may be rescinded only one (1) time by the political subdivision. (D) (i) A member who has volunteer service rendered before the election date of Benefit Program 4 or after the election is rescinded and subsequently readopted may have the volunteer service rendered on or after July 1, 2013, treated as though the volunteer service had been rendered after the election of Benefit Program 4 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the board. (ii) As used in this subdivision (a)(5)(D), "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary. (b) If each portion of a member's credited service is not covered by the same benefit program, then his or her total annuity for life shall be the total of the annuity for life determined under each applicable benefit program. (c) Each employer shall have the credited service of each of its members covered by Benefit Program 1 as provided for in this section, unless the employer shall have elected another benefit program provided for in this section. (d) (1) By majority vote of its governing body, each political subdivision may elect from time to time to cover its members who retire in the future under one (1) of the benefit programs provided for in this section. (2) The clerk or secretary of the governing body of the political subdivision shall certify, in a manner and form acceptable to the board, the election of the benefit program to the board within ten (10) days of the vote. (3) The effective date of the political subdivision's benefit program is the first day of the calendar month specified by the governing body, the first day of the calendar month next following receipt by the board of the certification of election of benefit program, or the effective date of the political subdivision's becoming an employer, whichever is the latest date. (4) The election of Benefit Program 2 may be rescinded only one (1) time by the political subdivision. (5) If the changed benefit program provides smaller annuities for life than the benefit program previously in effect, then the changed benefit program shall be applicable only to credited service for employment rendered from and after the effective date of the change. (e) Should an employer change its election of benefit program as provided in this section, the employer contributions shall be correspondingly changed effective the same date as the benefit program change. (f) The limitation on increases in an employer's contribution provided by § 24-10-405(h) shall not apply to any contribution increase resulting from: (1) An employer's electing a benefit program that provides larger annuities; and (2) Increased benefits applicable to retirements on or after July 1, 2001, as provided in subdivisions (a)(1)-(3) of this section. (g) Increases made to a member's annuity benefits under subsection (a) of this section after August 12, 2005, shall result in a corresponding increase in the employer contributions effective on the same date as the member's annuity benefits increase. Amended by Act 2023, No. 536,§ 2, eff. 7/1/2023. Amended by Act 2013, No. 315,§ 2, eff. 3/11/2013. Amended by Act 2013, No. 315,§ 1, eff. 3/11/2013. Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1991, No. 428, § 1; 1995, No. 474, § 1; 1997, No. 1242, §§ 1, 2; 1999, No. 869, § 1; 1999, No. 1453, §§ 1, 2; 2001, No. 1133, § 1; 2001, No. 1536, § 1; 2001, No. 1703, §§ 1, 2; 2003, No. 480, §§ 1-3; 2003, No. 777, § 1; 2003, No. 1367, § 2; 2005, No. 1286, § 1; 2007, No. 294, § 1; 2007, No. 1569, § 1; 2009, No. 720, §§ 2-4.

(a) Upon a member's retirement, he or she shall receive an annuity for life in accordance with the applicable benefit program elected by his or her employer, as follows: (1) Benefit Program 1. (A) For each year of paid service resulting from employment: (i) In a position not also covered by Social Security, three percent (3%) of his or her final average pay; and (ii) In a position also covered by Social Security, two percent (2%) of his or her final average pay. (B) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored; (2) Benefit Program 2. (A) For each year of paid service rendered on or after the election date of the Benefit Program 2 and before the election is rescinded: (i) In a position also covered by Social Security, three percent (3%) of the member's final average salary; and (ii) In a position not covered by Social Security, three and thirty-four hundredths percent (3.34%) of the member's final average salary. (B) (i) For each year of paid service rendered before the election date of the Benefit Program 2 or after the election is rescinded: (a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and (b) In a position not covered by Social Security, three percent (3%) of the member's final average salary. (ii) A member who has paid service rendered before the election date of Benefit Program 2 or after the election is rescinded and subsequently readopted may have the paid service rendered on or after July 28, 1995, treated as though the paid service had been rendered after the election date of Benefit Program 2 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System. (iii) As used in subdivision (a)(2)(B)(ii) of this section, "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary. (C) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored; (3) As used in subdivisions (a)(1) and (2) of this section, "Social Security's minimum age for an immediate unreduced retirement benefit" means one (1) of the following: (A) If the member is retiring as provided in § 24-10-607 and is in receipt of a disability benefit under the Social Security Act, 42 U.S.C. § 301 et seq., the age when the Social Security disability benefit becomes effective; (B) If the member's retirement is effective before July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , age sixty-two (62); or (C) If the member's retirement is effective on or after July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , the minimum age for the member's receipt of an immediate unreduced Social Security old age benefit; (4) Benefit Program 3. (A) The total benefit amount computed under subdivisions (a)(1) and (2) of this section shall not exceed at the time of retirement one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(4)(B) of this section for volunteer service; (B) (i) For retirements effective before July 1, 2003, annuity amounts based upon volunteer service shall be in accordance with system provisions in force before July 1, 2003. (ii) For retirements effective July 1, 2003, and the twelve (12) calendar months thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), to a maximum of two hundred dollars ($200) monthly for all volunteer service. (iii) For retirements effective in the twelve (12) calendar months beginning July 1 thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), increased by any percentage increase in the inflation index for the period from December 2003 to the December immediately preceding the July 1, to a maximum for all volunteer service of two hundred dollars ($200) monthly, similarly increased by any percentage increase in the inflation index; and (5) Benefit Program 4. (A) For each year of volunteer service rendered on or after the election of Benefit Program 4 and before the election is rescinded: (i) The total benefit amount computed under subdivision (a)(2) of this section shall not at the time of retirement exceed one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(5)(B) of this section for volunteer service; and (ii) For retirements effective July 1, 2013, the monthly annuity amount for each year of volunteer service shall be ten dollars ($10.00), increased by any percentage increase in the inflation index for the calendar year preceding July 1, to a maximum of four hundred dollars ($400) monthly for all volunteer service. (B) The increased benefit associated with Benefit Program 4 in excess of that defined in Benefit Program 3 shall not be funded through an allocation of premium tax revenues. (C) The election of Benefit Program 4 may be rescinded only one (1) time by the political subdivision. (D) (i) A member who has volunteer service rendered before the election date of Benefit Program 4 or after the election is rescinded and subsequently readopted may have the volunteer service rendered on or after July 1, 2013, treated as though the volunteer service had been rendered after the election of Benefit Program 4 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the board. (ii) As used in this subdivision (a)(5)(D), "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(1) Benefit Program 1. (A) For each year of paid service resulting from employment: (i) In a position not also covered by Social Security, three percent (3%) of his or her final average pay; and (ii) In a position also covered by Social Security, two percent (2%) of his or her final average pay. (B) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(A) For each year of paid service resulting from employment: (i) In a position not also covered by Social Security, three percent (3%) of his or her final average pay; and (ii) In a position also covered by Social Security, two percent (2%) of his or her final average pay.

(i) In a position not also covered by Social Security, three percent (3%) of his or her final average pay; and

(ii) In a position also covered by Social Security, two percent (2%) of his or her final average pay.

(B) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989.

(a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service resulting from employment in a position also covered by Social Security.

(b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989.

(ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit.

(a) The member's death; or

(b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit.

(iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(2) Benefit Program 2. (A) For each year of paid service rendered on or after the election date of the Benefit Program 2 and before the election is rescinded: (i) In a position also covered by Social Security, three percent (3%) of the member's final average salary; and (ii) In a position not covered by Social Security, three and thirty-four hundredths percent (3.34%) of the member's final average salary. (B) (i) For each year of paid service rendered before the election date of the Benefit Program 2 or after the election is rescinded: (a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and (b) In a position not covered by Social Security, three percent (3%) of the member's final average salary. (ii) A member who has paid service rendered before the election date of Benefit Program 2 or after the election is rescinded and subsequently readopted may have the paid service rendered on or after July 28, 1995, treated as though the paid service had been rendered after the election date of Benefit Program 2 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System. (iii) As used in subdivision (a)(2)(B)(ii) of this section, "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary. (C) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(A) For each year of paid service rendered on or after the election date of the Benefit Program 2 and before the election is rescinded: (i) In a position also covered by Social Security, three percent (3%) of the member's final average salary; and (ii) In a position not covered by Social Security, three and thirty-four hundredths percent (3.34%) of the member's final average salary.

(i) In a position also covered by Social Security, three percent (3%) of the member's final average salary; and

(ii) In a position not covered by Social Security, three and thirty-four hundredths percent (3.34%) of the member's final average salary.

(B) (i) For each year of paid service rendered before the election date of the Benefit Program 2 or after the election is rescinded: (a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and (b) In a position not covered by Social Security, three percent (3%) of the member's final average salary. (ii) A member who has paid service rendered before the election date of Benefit Program 2 or after the election is rescinded and subsequently readopted may have the paid service rendered on or after July 28, 1995, treated as though the paid service had been rendered after the election date of Benefit Program 2 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System. (iii) As used in subdivision (a)(2)(B)(ii) of this section, "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(i) For each year of paid service rendered before the election date of the Benefit Program 2 or after the election is rescinded: (a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and (b) In a position not covered by Social Security, three percent (3%) of the member's final average salary.

(a) In a position also covered by Social Security, two percent (2%) of the member's final average salary; and

(b) In a position not covered by Social Security, three percent (3%) of the member's final average salary.

(ii) A member who has paid service rendered before the election date of Benefit Program 2 or after the election is rescinded and subsequently readopted may have the paid service rendered on or after July 28, 1995, treated as though the paid service had been rendered after the election date of Benefit Program 2 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System.

(iii) As used in subdivision (a)(2)(B)(ii) of this section, "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(C) (i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989. (ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit. (iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(i) (a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security. (b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989.

(a) In addition, if the member is retiring as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , and if the member's age at retirement is less than Social Security's minimum age for an immediate unreduced retirement benefit, then the member shall receive a temporary annuity equal to one percent (1%) of his or her final average pay for each year of paid service rendered before the election date of Benefit Program 2 and resulting from employment in a position also covered by Social Security.

(b) The provisions of this section that allow a member who retires as provided in § 24-10-607 , whose employment was also covered by Social Security, and who is thereby eligible for a temporary annuity shall be applied retroactively to all persons who retired under those circumstances on or after October 1, 1989.

(ii) The temporary annuity shall terminate at the end of the calendar month in which the earlier of the following events occurs: (a) The member's death; or (b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit.

(a) The member's death; or

(b) His or her attainment of Social Security's minimum age for an immediate unreduced retirement benefit.

(iii) Any member who has had a temporary annuity terminated because of an award of disability retirement under the Social Security Act, 42 U.S.C. § 301 et seq., shall have that temporary annuity restored;

(3) As used in subdivisions (a)(1) and (2) of this section, "Social Security's minimum age for an immediate unreduced retirement benefit" means one (1) of the following: (A) If the member is retiring as provided in § 24-10-607 and is in receipt of a disability benefit under the Social Security Act, 42 U.S.C. § 301 et seq., the age when the Social Security disability benefit becomes effective; (B) If the member's retirement is effective before July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , age sixty-two (62); or (C) If the member's retirement is effective on or after July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , the minimum age for the member's receipt of an immediate unreduced Social Security old age benefit;

(A) If the member is retiring as provided in § 24-10-607 and is in receipt of a disability benefit under the Social Security Act, 42 U.S.C. § 301 et seq., the age when the Social Security disability benefit becomes effective;

(B) If the member's retirement is effective before July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , age sixty-two (62); or

(C) If the member's retirement is effective on or after July 1, 2001, as provided in § 24-10-604 , § 24-10-605 , § 24-10-606 , or § 24-10-607 , the minimum age for the member's receipt of an immediate unreduced Social Security old age benefit;

(4) Benefit Program 3. (A) The total benefit amount computed under subdivisions (a)(1) and (2) of this section shall not exceed at the time of retirement one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(4)(B) of this section for volunteer service; (B) (i) For retirements effective before July 1, 2003, annuity amounts based upon volunteer service shall be in accordance with system provisions in force before July 1, 2003. (ii) For retirements effective July 1, 2003, and the twelve (12) calendar months thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), to a maximum of two hundred dollars ($200) monthly for all volunteer service. (iii) For retirements effective in the twelve (12) calendar months beginning July 1 thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), increased by any percentage increase in the inflation index for the period from December 2003 to the December immediately preceding the July 1, to a maximum for all volunteer service of two hundred dollars ($200) monthly, similarly increased by any percentage increase in the inflation index; and

(A) The total benefit amount computed under subdivisions (a)(1) and (2) of this section shall not exceed at the time of retirement one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(4)(B) of this section for volunteer service;

(B) (i) For retirements effective before July 1, 2003, annuity amounts based upon volunteer service shall be in accordance with system provisions in force before July 1, 2003. (ii) For retirements effective July 1, 2003, and the twelve (12) calendar months thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), to a maximum of two hundred dollars ($200) monthly for all volunteer service. (iii) For retirements effective in the twelve (12) calendar months beginning July 1 thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), increased by any percentage increase in the inflation index for the period from December 2003 to the December immediately preceding the July 1, to a maximum for all volunteer service of two hundred dollars ($200) monthly, similarly increased by any percentage increase in the inflation index; and

(i) For retirements effective before July 1, 2003, annuity amounts based upon volunteer service shall be in accordance with system provisions in force before July 1, 2003.

(ii) For retirements effective July 1, 2003, and the twelve (12) calendar months thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), to a maximum of two hundred dollars ($200) monthly for all volunteer service.

(iii) For retirements effective in the twelve (12) calendar months beginning July 1 thereafter, the monthly annuity amount for each year of volunteer service shall be five dollars ($5.00), increased by any percentage increase in the inflation index for the period from December 2003 to the December immediately preceding the July 1, to a maximum for all volunteer service of two hundred dollars ($200) monthly, similarly increased by any percentage increase in the inflation index; and

(5) Benefit Program 4. (A) For each year of volunteer service rendered on or after the election of Benefit Program 4 and before the election is rescinded: (i) The total benefit amount computed under subdivision (a)(2) of this section shall not at the time of retirement exceed one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(5)(B) of this section for volunteer service; and (ii) For retirements effective July 1, 2013, the monthly annuity amount for each year of volunteer service shall be ten dollars ($10.00), increased by any percentage increase in the inflation index for the calendar year preceding July 1, to a maximum of four hundred dollars ($400) monthly for all volunteer service. (B) The increased benefit associated with Benefit Program 4 in excess of that defined in Benefit Program 3 shall not be funded through an allocation of premium tax revenues. (C) The election of Benefit Program 4 may be rescinded only one (1) time by the political subdivision. (D) (i) A member who has volunteer service rendered before the election date of Benefit Program 4 or after the election is rescinded and subsequently readopted may have the volunteer service rendered on or after July 1, 2013, treated as though the volunteer service had been rendered after the election of Benefit Program 4 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the board. (ii) As used in this subdivision (a)(5)(D), "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(A) For each year of volunteer service rendered on or after the election of Benefit Program 4 and before the election is rescinded: (i) The total benefit amount computed under subdivision (a)(2) of this section shall not at the time of retirement exceed one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(5)(B) of this section for volunteer service; and (ii) For retirements effective July 1, 2013, the monthly annuity amount for each year of volunteer service shall be ten dollars ($10.00), increased by any percentage increase in the inflation index for the calendar year preceding July 1, to a maximum of four hundred dollars ($400) monthly for all volunteer service.

(i) The total benefit amount computed under subdivision (a)(2) of this section shall not at the time of retirement exceed one hundred percent (100%) of the final average pay plus the amounts provided in subdivision (a)(5)(B) of this section for volunteer service; and

(ii) For retirements effective July 1, 2013, the monthly annuity amount for each year of volunteer service shall be ten dollars ($10.00), increased by any percentage increase in the inflation index for the calendar year preceding July 1, to a maximum of four hundred dollars ($400) monthly for all volunteer service.

(B) The increased benefit associated with Benefit Program 4 in excess of that defined in Benefit Program 3 shall not be funded through an allocation of premium tax revenues.

(C) The election of Benefit Program 4 may be rescinded only one (1) time by the political subdivision.

(D) (i) A member who has volunteer service rendered before the election date of Benefit Program 4 or after the election is rescinded and subsequently readopted may have the volunteer service rendered on or after July 1, 2013, treated as though the volunteer service had been rendered after the election of Benefit Program 4 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the board. (ii) As used in this subdivision (a)(5)(D), "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(i) A member who has volunteer service rendered before the election date of Benefit Program 4 or after the election is rescinded and subsequently readopted may have the volunteer service rendered on or after July 1, 2013, treated as though the volunteer service had been rendered after the election of Benefit Program 4 by paying to the system the actuarial cost of the increased benefit by a single contribution or by an agreement to pay an increased rate of contributions if approved by the board.

(ii) As used in this subdivision (a)(5)(D), "actuarial cost" means an amount that is the actuarial equivalent of the value of the credited service to be purchased at the time of the purchase, as determined by the system's actuary.

(b) If each portion of a member's credited service is not covered by the same benefit program, then his or her total annuity for life shall be the total of the annuity for life determined under each applicable benefit program.

(c) Each employer shall have the credited service of each of its members covered by Benefit Program 1 as provided for in this section, unless the employer shall have elected another benefit program provided for in this section.

(d) (1) By majority vote of its governing body, each political subdivision may elect from time to time to cover its members who retire in the future under one (1) of the benefit programs provided for in this section. (2) The clerk or secretary of the governing body of the political subdivision shall certify, in a manner and form acceptable to the board, the election of the benefit program to the board within ten (10) days of the vote. (3) The effective date of the political subdivision's benefit program is the first day of the calendar month specified by the governing body, the first day of the calendar month next following receipt by the board of the certification of election of benefit program, or the effective date of the political subdivision's becoming an employer, whichever is the latest date. (4) The election of Benefit Program 2 may be rescinded only one (1) time by the political subdivision. (5) If the changed benefit program provides smaller annuities for life than the benefit program previously in effect, then the changed benefit program shall be applicable only to credited service for employment rendered from and after the effective date of the change.

(1) By majority vote of its governing body, each political subdivision may elect from time to time to cover its members who retire in the future under one (1) of the benefit programs provided for in this section.

(2) The clerk or secretary of the governing body of the political subdivision shall certify, in a manner and form acceptable to the board, the election of the benefit program to the board within ten (10) days of the vote.

(3) The effective date of the political subdivision's benefit program is the first day of the calendar month specified by the governing body, the first day of the calendar month next following receipt by the board of the certification of election of benefit program, or the effective date of the political subdivision's becoming an employer, whichever is the latest date.

(4) The election of Benefit Program 2 may be rescinded only one (1) time by the political subdivision.

(5) If the changed benefit program provides smaller annuities for life than the benefit program previously in effect, then the changed benefit program shall be applicable only to credited service for employment rendered from and after the effective date of the change.

(e) Should an employer change its election of benefit program as provided in this section, the employer contributions shall be correspondingly changed effective the same date as the benefit program change.

(f) The limitation on increases in an employer's contribution provided by § 24-10-405(h) shall not apply to any contribution increase resulting from: (1) An employer's electing a benefit program that provides larger annuities; and (2) Increased benefits applicable to retirements on or after July 1, 2001, as provided in subdivisions (a)(1)-(3) of this section.

(1) An employer's electing a benefit program that provides larger annuities; and

(2) Increased benefits applicable to retirements on or after July 1, 2001, as provided in subdivisions (a)(1)-(3) of this section.

(g) Increases made to a member's annuity benefits under subsection (a) of this section after August 12, 2005, shall result in a corresponding increase in the employer contributions effective on the same date as the member's annuity benefits increase.

Amended by Act 2023, No. 536,§ 2, eff. 7/1/2023.

Amended by Act 2013, No. 315,§ 2, eff. 3/11/2013.

Amended by Act 2013, No. 315,§ 1, eff. 3/11/2013.

Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1991, No. 428, § 1; 1995, No. 474, § 1; 1997, No. 1242, §§ 1, 2; 1999, No. 869, § 1; 1999, No. 1453, §§ 1, 2; 2001, No. 1133, § 1; 2001, No. 1536, § 1; 2001, No. 1703, §§ 1, 2; 2003, No. 480, §§ 1-3; 2003, No. 777, § 1; 2003, No. 1367, § 2; 2005, No. 1286, § 1; 2007, No. 294, § 1; 2007, No. 1569, § 1; 2009, No. 720, §§ 2-4.
Ark. Code Ann. § 24-6-207 — AR Code / Title 24 / Chapter 6 / Subchapter 2 / Section 24-6-207
Membership
Status: in_force

(a) The Director of the Division of Arkansas State Police and all other state police officers shall become members of the State Police Retirement System. (b) All persons who became, or become, state police officers after March 19, 1951, shall become members of the system. (c) None of the other employees of the Division of Arkansas State Police shall be eligible to membership in the system, and the conferring of rank upon any such employee shall not, in itself, constitute eligibility to membership in the system. (d) Any state police officer, upon appointment as Secretary of the Department of Public Safety, shall be eligible to continue his or her membership in the State Police Retirement System. Amended by Act 2019, No. 910,§ 6032, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 6031, eff. 7/1/2019. Amended by Act 2019, No. 910,§ 6030, eff. 7/1/2019. Acts 1951, No. 311, § 5; 1953, No. 309, § 1; 1957, No. 308, § 1; 1959, No. 484, § 5; A.S.A. 1947, § 42-455.

(a) The Director of the Division of Arkansas State Police and all other state police officers shall become members of the State Police Retirement System.

(b) All persons who became, or become, state police officers after March 19, 1951, shall become members of the system.

(c) None of the other employees of the Division of Arkansas State Police shall be eligible to membership in the system, and the conferring of rank upon any such employee shall not, in itself, constitute eligibility to membership in the system.

(d) Any state police officer, upon appointment as Secretary of the Department of Public Safety, shall be eligible to continue his or her membership in the State Police Retirement System.

Amended by Act 2019, No. 910,§ 6032, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 6031, eff. 7/1/2019.

Amended by Act 2019, No. 910,§ 6030, eff. 7/1/2019.

Acts 1951, No. 311, § 5; 1953, No. 309, § 1; 1957, No. 308, § 1; 1959, No. 484, § 5; A.S.A. 1947, § 42-455.
Ark. Code Ann. § 24-4-724 — AR Code / Title 24 / Chapter 4 / Subchapter 7 / Section 24-4-724
Members joining after employer - Current service credit
Status: in_force

(a) (1) (A) Any member of the Arkansas Public Employees' Retirement System who became, or becomes, a member after the date that his or her employer became, or becomes, a public employer in the system shall receive current service for employment with a public employer in the system or with a municipality in the State of Arkansas if the employee was not eligible for coverage or does not participate in or is not eligible to receive a benefit from a retirement plan authorized by a municipality in the State of Arkansas and by the laws of the State of Arkansas during employment. (B) He or she shall receive credit only if he or she has at least five (5) years of current service credit since becoming a member of the system and he or she 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 during that 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. (2) As used in this subsection, employment by a municipality in the State of Arkansas shall include the mayor, city attorney, city treasurer, city clerk, clerk-treasurer, municipal judge, municipal court clerk, and any other city employee. (b) The compensation to be used in computing the payments shall be the compensation on which contributions would have been made had the person been a member of the system during the time for which current service credit is purchased. (c) The payment shall be made in a lump sum. (d) The member may pay for all his or her prior and interim current service or a portion thereof consisting of multiples of one (1) year. Amended by Act 2013, No. 337,§ 5, eff. 7/1/2013. Acts 1973, No. 187, § 4; 1975, No. 907, § 5; 1985, No. 938, § 16; A.S.A. 1947, § 12-2549.5; Acts 1987, No. 327, § 3; 1993, No. 432, § 11; 1997, No. 299, § 22.

(a) (1) (A) Any member of the Arkansas Public Employees' Retirement System who became, or becomes, a member after the date that his or her employer became, or becomes, a public employer in the system shall receive current service for employment with a public employer in the system or with a municipality in the State of Arkansas if the employee was not eligible for coverage or does not participate in or is not eligible to receive a benefit from a retirement plan authorized by a municipality in the State of Arkansas and by the laws of the State of Arkansas during employment. (B) He or she shall receive credit only if he or she has at least five (5) years of current service credit since becoming a member of the system and he or she 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 during that 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. (2) As used in this subsection, employment by a municipality in the State of Arkansas shall include the mayor, city attorney, city treasurer, city clerk, clerk-treasurer, municipal judge, municipal court clerk, and any other city employee.

(1) (A) Any member of the Arkansas Public Employees' Retirement System who became, or becomes, a member after the date that his or her employer became, or becomes, a public employer in the system shall receive current service for employment with a public employer in the system or with a municipality in the State of Arkansas if the employee was not eligible for coverage or does not participate in or is not eligible to receive a benefit from a retirement plan authorized by a municipality in the State of Arkansas and by the laws of the State of Arkansas during employment. (B) He or she shall receive credit only if he or she has at least five (5) years of current service credit since becoming a member of the system and he or she 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 during that 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) Any member of the Arkansas Public Employees' Retirement System who became, or becomes, a member after the date that his or her employer became, or becomes, a public employer in the system shall receive current service for employment with a public employer in the system or with a municipality in the State of Arkansas if the employee was not eligible for coverage or does not participate in or is not eligible to receive a benefit from a retirement plan authorized by a municipality in the State of Arkansas and by the laws of the State of Arkansas during employment.

(B) He or she shall receive credit only if he or she has at least five (5) years of current service credit since becoming a member of the system and he or she 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 during that 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.

(2) As used in this subsection, employment by a municipality in the State of Arkansas shall include the mayor, city attorney, city treasurer, city clerk, clerk-treasurer, municipal judge, municipal court clerk, and any other city employee.

(b) The compensation to be used in computing the payments shall be the compensation on which contributions would have been made had the person been a member of the system during the time for which current service credit is purchased.

(c) The payment shall be made in a lump sum.

(d) The member may pay for all his or her prior and interim current service or a portion thereof consisting of multiples of one (1) year.

Amended by Act 2013, No. 337,§ 5, eff. 7/1/2013.

Acts 1973, No. 187, § 4; 1975, No. 907, § 5; 1985, No. 938, § 16; A.S.A. 1947, § 12-2549.5; Acts 1987, No. 327, § 3; 1993, No. 432, § 11; 1997, No. 299, § 22.
Ark. Code Ann. § 24-5-108 — AR Code / Title 24 / Chapter 5 / Subchapter 1 / Section 24-5-108
Members' contributions
Status: in_force

(a) (1) A member of the Arkansas State Highway Employees' Retirement System shall be assessed six percent (6%) of his or her salary or wages by payroll deductions, and the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall transmit the payroll deductions from the member's salary or wages to the bank designated as the depository for the funds of the system or to the Treasurer of State, as appropriate. (2) (A) Beginning on July 1, 2019, the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall assess the member contribution rate after receiving recommendations from the actuary of the system. (B) An assessed member contribution rate shall be: (i) Not more than seven percent (7%) of compensation; and (ii) Increased by no more than five-tenths of one percent (0.5%) in a single year. (b) (1) (A) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the Arkansas State Highway Employees' Retirement System Fund to the credit of his or her account an amount equal to four percent (4%) of his or her earnings for each year of his or her authenticated prior and current service not covered, plus such interest as the board may prescribe. (B) Each year, or fractional part thereof, for which such prior and current service contributions are paid shall be added to the current service record of the member in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 , subject to the provision that no member may accrue more than thirty-five (35) years of creditable service. (2) (A) (i) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe. (ii) These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 . (B) The plan for such payment shall be as prescribed by the board. (c) It is expressly guaranteed that all member contributions shall be held in trust for the exclusive benefit of the individual contributor. Amended by Act 2019, No. 295,§ 1, eff. 7/1/2019. Acts 1949, No. 454, § 9; 1953, No. 403, §§ 6, 7; 1969, No. 167, § 5; 1975, No. 599, § 1; 1977, No. 722, § 1; 1981, No. 295, § 7; A.S.A. 1947, § 76-1909.

(a) (1) A member of the Arkansas State Highway Employees' Retirement System shall be assessed six percent (6%) of his or her salary or wages by payroll deductions, and the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall transmit the payroll deductions from the member's salary or wages to the bank designated as the depository for the funds of the system or to the Treasurer of State, as appropriate. (2) (A) Beginning on July 1, 2019, the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall assess the member contribution rate after receiving recommendations from the actuary of the system. (B) An assessed member contribution rate shall be: (i) Not more than seven percent (7%) of compensation; and (ii) Increased by no more than five-tenths of one percent (0.5%) in a single year.

(1) A member of the Arkansas State Highway Employees' Retirement System shall be assessed six percent (6%) of his or her salary or wages by payroll deductions, and the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall transmit the payroll deductions from the member's salary or wages to the bank designated as the depository for the funds of the system or to the Treasurer of State, as appropriate.

(2) (A) Beginning on July 1, 2019, the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall assess the member contribution rate after receiving recommendations from the actuary of the system. (B) An assessed member contribution rate shall be: (i) Not more than seven percent (7%) of compensation; and (ii) Increased by no more than five-tenths of one percent (0.5%) in a single year.

(A) Beginning on July 1, 2019, the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall assess the member contribution rate after receiving recommendations from the actuary of the system.

(B) An assessed member contribution rate shall be: (i) Not more than seven percent (7%) of compensation; and (ii) Increased by no more than five-tenths of one percent (0.5%) in a single year.

(i) Not more than seven percent (7%) of compensation; and

(ii) Increased by no more than five-tenths of one percent (0.5%) in a single year.

(b) (1) (A) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the Arkansas State Highway Employees' Retirement System Fund to the credit of his or her account an amount equal to four percent (4%) of his or her earnings for each year of his or her authenticated prior and current service not covered, plus such interest as the board may prescribe. (B) Each year, or fractional part thereof, for which such prior and current service contributions are paid shall be added to the current service record of the member in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 , subject to the provision that no member may accrue more than thirty-five (35) years of creditable service. (2) (A) (i) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe. (ii) These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 . (B) The plan for such payment shall be as prescribed by the board.

(1) (A) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the Arkansas State Highway Employees' Retirement System Fund to the credit of his or her account an amount equal to four percent (4%) of his or her earnings for each year of his or her authenticated prior and current service not covered, plus such interest as the board may prescribe. (B) Each year, or fractional part thereof, for which such prior and current service contributions are paid shall be added to the current service record of the member in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 , subject to the provision that no member may accrue more than thirty-five (35) years of creditable service.

(A) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the Arkansas State Highway Employees' Retirement System Fund to the credit of his or her account an amount equal to four percent (4%) of his or her earnings for each year of his or her authenticated prior and current service not covered, plus such interest as the board may prescribe.

(B) Each year, or fractional part thereof, for which such prior and current service contributions are paid shall be added to the current service record of the member in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 , subject to the provision that no member may accrue more than thirty-five (35) years of creditable service.

(2) (A) (i) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe. (ii) These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 . (B) The plan for such payment shall be as prescribed by the board.

(A) (i) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe. (ii) These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 .

(i) As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe.

(ii) These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§ 24-5-115 - 24-5-118 .

(B) The plan for such payment shall be as prescribed by the board.

(c) It is expressly guaranteed that all member contributions shall be held in trust for the exclusive benefit of the individual contributor.

Amended by Act 2019, No. 295,§ 1, eff. 7/1/2019.

Acts 1949, No. 454, § 9; 1953, No. 403, §§ 6, 7; 1969, No. 167, § 5; 1975, No. 599, § 1; 1977, No. 722, § 1; 1981, No. 295, § 7; A.S.A. 1947, § 76-1909.
Ark. Code Ann. § 24-8-320 — AR Code / Title 24 / Chapter 8 / Subchapter 3 / Section 24-8-320
Municipal Court Retirement Transition Group
Status: in_force

(a) Currently, the municipal judges and court clerks in Arkansas are covered under numerous and separate retirement plans run independently by each municipal government. Under Arkansas Constitution, Amendment 80, all municipal courts in existence shall be known as district courts and all judges of those courts shall become district judges effective January 1, 2005. (b) The Municipal Court Retirement Transition Group shall be established to review the transition of municipal courts to district courts and to study the impact this transition will have on those retirement benefit plans. (c) The group shall consist of: (1) Three (3) members of the Joint Committee on Public Retirement and Social Security Programs as appointed by the cochairs of the Joint Committee on Public Retirement and Social Security Programs; (2) The Executive Director of the Arkansas Public Employees' Retirement System; (3) A representative from the Board of Trustees of the Arkansas Judicial Retirement System appointed by the board; (4) The President of the Arkansas Municipal League or a designee; (5) The President of the Association of Arkansas Counties or a designee; (6) The Director of the Administrative Office of the Courts or a designee; and (7) The Director of the Department of Finance and Administration or a designee. (d) The group shall determine if any legislation is necessary and shall bring it before the Joint Committee on Public Retirement and Social Security Programs at the Eighty-fourth General Assembly. Acts 2001, No. 1613, § 4.

(a) Currently, the municipal judges and court clerks in Arkansas are covered under numerous and separate retirement plans run independently by each municipal government. Under Arkansas Constitution, Amendment 80, all municipal courts in existence shall be known as district courts and all judges of those courts shall become district judges effective January 1, 2005.

(b) The Municipal Court Retirement Transition Group shall be established to review the transition of municipal courts to district courts and to study the impact this transition will have on those retirement benefit plans.

(c) The group shall consist of: (1) Three (3) members of the Joint Committee on Public Retirement and Social Security Programs as appointed by the cochairs of the Joint Committee on Public Retirement and Social Security Programs; (2) The Executive Director of the Arkansas Public Employees' Retirement System; (3) A representative from the Board of Trustees of the Arkansas Judicial Retirement System appointed by the board; (4) The President of the Arkansas Municipal League or a designee; (5) The President of the Association of Arkansas Counties or a designee; (6) The Director of the Administrative Office of the Courts or a designee; and (7) The Director of the Department of Finance and Administration or a designee.

(1) Three (3) members of the Joint Committee on Public Retirement and Social Security Programs as appointed by the cochairs of the Joint Committee on Public Retirement and Social Security Programs;

(2) The Executive Director of the Arkansas Public Employees' Retirement System;

(3) A representative from the Board of Trustees of the Arkansas Judicial Retirement System appointed by the board;

(4) The President of the Arkansas Municipal League or a designee;

(5) The President of the Association of Arkansas Counties or a designee;

(6) The Director of the Administrative Office of the Courts or a designee; and

(7) The Director of the Department of Finance and Administration or a designee.

(d) The group shall determine if any legislation is necessary and shall bring it before the Joint Committee on Public Retirement and Social Security Programs at the Eighty-fourth General Assembly.

Acts 2001, No. 1613, § 4.
Ark. Code Ann. § 24-4-519 — AR Code / Title 24 / Chapter 4 / Subchapter 5 / Section 24-4-519
Current service credit - Nonuniformed employees
Status: in_force

(a) (1) (A) A person who on December 31, 1998, was a nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System or a former nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System who was an active member of the system on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq. and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality. (B) A former nonuniformed employee of a municipality or municipalities who had at least six (6) years of service as a nonuniformed employee, ten (10) years of service as a member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 , and is in a position of policy-making authority for a state agency may waive all rights to receive benefits for the service under any retirement plan and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality or municipalities. (C) A former nonuniformed employee whose employment was with a municipality not participating in the Arkansas Public Employees' Retirement System, whose employment accrued before January 1, 1970, and who was an active member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq., and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality. (2) The waiver must be filed with the Arkansas Public Employees' Retirement System and with the governing body of the municipality. (b) The current or former paid nonuniformed employee shall receive credit only if the employee or the municipality pays or causes to be paid to the Arkansas Public Employees' Retirement System Fund: (1) All necessary employee contributions at the rate and on the compensation that would have been paid had the employee been a member during that time; (2) 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 (3) 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 Arkansas Public Employees' Retirement System. (c) The employer's contributions and employees' contributions, if applicable, shall be transmitted to the Arkansas Public Employees' Retirement System in the form and manner, together with the supporting data, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall prescribe from time to time. (d) The governing body of the municipality may pay the employer contributions and employee contributions, if applicable, on behalf of the employee for services rendered. (e) "Paid nonuniformed employees" has the same meaning as provided by § 24-12-101 . Acts 1999, No. 706, § 1.

(a) (1) (A) A person who on December 31, 1998, was a nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System or a former nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System who was an active member of the system on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq. and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality. (B) A former nonuniformed employee of a municipality or municipalities who had at least six (6) years of service as a nonuniformed employee, ten (10) years of service as a member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 , and is in a position of policy-making authority for a state agency may waive all rights to receive benefits for the service under any retirement plan and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality or municipalities. (C) A former nonuniformed employee whose employment was with a municipality not participating in the Arkansas Public Employees' Retirement System, whose employment accrued before January 1, 1970, and who was an active member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq., and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality. (2) The waiver must be filed with the Arkansas Public Employees' Retirement System and with the governing body of the municipality.

(1) (A) A person who on December 31, 1998, was a nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System or a former nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System who was an active member of the system on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq. and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality. (B) A former nonuniformed employee of a municipality or municipalities who had at least six (6) years of service as a nonuniformed employee, ten (10) years of service as a member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 , and is in a position of policy-making authority for a state agency may waive all rights to receive benefits for the service under any retirement plan and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality or municipalities. (C) A former nonuniformed employee whose employment was with a municipality not participating in the Arkansas Public Employees' Retirement System, whose employment accrued before January 1, 1970, and who was an active member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq., and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality.

(A) A person who on December 31, 1998, was a nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System or a former nonuniformed employee of a municipality that participates in the Arkansas Public Employees' Retirement System who was an active member of the system on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq. and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality.

(B) A former nonuniformed employee of a municipality or municipalities who had at least six (6) years of service as a nonuniformed employee, ten (10) years of service as a member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 , and is in a position of policy-making authority for a state agency may waive all rights to receive benefits for the service under any retirement plan and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality or municipalities.

(C) A former nonuniformed employee whose employment was with a municipality not participating in the Arkansas Public Employees' Retirement System, whose employment accrued before January 1, 1970, and who was an active member of the Arkansas Public Employees' Retirement System or a reciprocal system as defined by § 24-2-401 on December 31, 1998, may waive all rights to receive benefits under § 24-12-101 et seq., and apply for and receive current service credit in the Arkansas Public Employees' Retirement System for service rendered as a paid nonuniformed employee of the municipality.

(2) The waiver must be filed with the Arkansas Public Employees' Retirement System and with the governing body of the municipality.

(b) The current or former paid nonuniformed employee shall receive credit only if the employee or the municipality pays or causes to be paid to the Arkansas Public Employees' Retirement System Fund: (1) All necessary employee contributions at the rate and on the compensation that would have been paid had the employee been a member during that time; (2) 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 (3) 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 Arkansas Public Employees' Retirement System.

(1) All necessary employee contributions at the rate and on the compensation that would have been paid had the employee been a member during that time;

(2) 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

(3) 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 Arkansas Public Employees' Retirement System.

(c) The employer's contributions and employees' contributions, if applicable, shall be transmitted to the Arkansas Public Employees' Retirement System in the form and manner, together with the supporting data, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall prescribe from time to time.

(d) The governing body of the municipality may pay the employer contributions and employee contributions, if applicable, on behalf of the employee for services rendered.

(e) "Paid nonuniformed employees" has the same meaning as provided by § 24-12-101 .

Acts 1999, No. 706, § 1.
Ark. Code Ann. § 24-7-1004 — AR Code / Title 24 / Chapter 7 / Subchapter 10 / Section 24-7-1004
[Repealed]
Status: repealed

Repealed by Act 2013, No. 337,§ 3, eff. 7/1/2013. Acts 1971, No. 9, § 7; A.S.A. 1947, § 80-2889.

Repealed by Act 2013, No. 337,§ 3, eff. 7/1/2013.

Acts 1971, No. 9, § 7; A.S.A. 1947, § 80-2889.
Ark. Code Ann. § 24-10-507 — AR Code / Title 24 / Chapter 10 / Subchapter 5 / Section 24-10-507
Reciprocal system
Status: in_force

(a) (1) The Arkansas Local Police and Fire Retirement System is a reciprocal system under the provisions of §§ 24-2-401 - 24-2-405 . (2) For the purpose of reciprocal service credit under the Arkansas Local Police and Fire Retirement System, only an Arkansas statewide defined benefit retirement system that is qualified under the Internal Revenue Code is eligible. (b) Once a member has vested in the Arkansas Local Police and Fire Retirement System, in establishing the eligibility of the member for a voluntary retirement benefit, early retirement benefit, or duty death benefit from the Arkansas Local Police and Fire Retirement System, the credited service under all reciprocal systems shall be totaled, and the total credited service shall be used in determining the eligibility of the member for a benefit from the Arkansas Local Police and Fire Retirement System. (c) In determining the amount of a benefit from the Arkansas Local Police and Fire Retirement System, only the following shall be used: (1) Credited service under the Arkansas Local Police and Fire Retirement System; (2) The benefit formula of the Arkansas Local Police and Fire Retirement System; and (3) (A) The final average pay of the Arkansas Local Police and Fire Retirement System. (B) The Arkansas Local Police and Fire Retirement System shall use the final average pay of the reciprocal system furnishing the highest final average pay at the time of retirement if the member has: (i) Established reciprocity before April 1, 2021; and (ii) Member contributions on account with the Arkansas Local Police and Fire Retirement System. Amended by Act 2021, No. 374,§ 1, eff. 4/1/2021. Acts 1999, No. 537, § 4.

(a) (1) The Arkansas Local Police and Fire Retirement System is a reciprocal system under the provisions of §§ 24-2-401 - 24-2-405 . (2) For the purpose of reciprocal service credit under the Arkansas Local Police and Fire Retirement System, only an Arkansas statewide defined benefit retirement system that is qualified under the Internal Revenue Code is eligible.

(1) The Arkansas Local Police and Fire Retirement System is a reciprocal system under the provisions of §§ 24-2-401 - 24-2-405 .

(2) For the purpose of reciprocal service credit under the Arkansas Local Police and Fire Retirement System, only an Arkansas statewide defined benefit retirement system that is qualified under the Internal Revenue Code is eligible.

(b) Once a member has vested in the Arkansas Local Police and Fire Retirement System, in establishing the eligibility of the member for a voluntary retirement benefit, early retirement benefit, or duty death benefit from the Arkansas Local Police and Fire Retirement System, the credited service under all reciprocal systems shall be totaled, and the total credited service shall be used in determining the eligibility of the member for a benefit from the Arkansas Local Police and Fire Retirement System.

(c) In determining the amount of a benefit from the Arkansas Local Police and Fire Retirement System, only the following shall be used: (1) Credited service under the Arkansas Local Police and Fire Retirement System; (2) The benefit formula of the Arkansas Local Police and Fire Retirement System; and (3) (A) The final average pay of the Arkansas Local Police and Fire Retirement System. (B) The Arkansas Local Police and Fire Retirement System shall use the final average pay of the reciprocal system furnishing the highest final average pay at the time of retirement if the member has: (i) Established reciprocity before April 1, 2021; and (ii) Member contributions on account with the Arkansas Local Police and Fire Retirement System.

(1) Credited service under the Arkansas Local Police and Fire Retirement System;

(2) The benefit formula of the Arkansas Local Police and Fire Retirement System; and

(3) (A) The final average pay of the Arkansas Local Police and Fire Retirement System. (B) The Arkansas Local Police and Fire Retirement System shall use the final average pay of the reciprocal system furnishing the highest final average pay at the time of retirement if the member has: (i) Established reciprocity before April 1, 2021; and (ii) Member contributions on account with the Arkansas Local Police and Fire Retirement System.

(A) The final average pay of the Arkansas Local Police and Fire Retirement System.

(B) The Arkansas Local Police and Fire Retirement System shall use the final average pay of the reciprocal system furnishing the highest final average pay at the time of retirement if the member has: (i) Established reciprocity before April 1, 2021; and (ii) Member contributions on account with the Arkansas Local Police and Fire Retirement System.

(i) Established reciprocity before April 1, 2021; and

(ii) Member contributions on account with the Arkansas Local Police and Fire Retirement System.

Amended by Act 2021, No. 374,§ 1, eff. 4/1/2021.

Acts 1999, No. 537, § 4.