reglab/housing_qa huggingface dataset:
AR Code § 24-5-106 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-106. Establishment of retirement fund

 (a) There is created a trust fund to be known as the “Arkansas State Highway Employees' Retirement System Fund”, which shall be the depository for moneys in the State Treasury or the designated bank as provided for in this chapter.  (b) The employer shall draw vouchers or cause vouchers to be drawn upon the State Highway and Transportation Department Fund for deposit into the Arkansas State Highway Employees' Retirement System Fund for such sums of money as are provided in § 24-5-109 to match employee contributions as certified by the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System:  (1) In accordance with the provisions of this section and §§ 24-5-101 — 24-5-105, 24-5-107 — 24-5-109, and 24-5-112 — 24-5-118; or  (2) As provided under § 24-5-137.    (c)  (1) The Treasurer of State, or a designated bank, shall be the legal custodian of the securities of the Arkansas State Highway Employees' Retirement System, subject to the orders and directions of the Board of Trustees of the Arkansas State Highway Employees' Retirement System.  (2) The system may deposit with the Treasurer of State, or a designated bank, safekeeping receipts or, in the case of federal bookkeeping entries, the evidence of investment that is issued in lieu of the actual securities.    (d) The Attorney General shall serve as legal advisor to the board.  (e) It shall be the duty of the Legislative Auditor to audit the finances of the system one time or more often if either the auditor or the board consider such action necessary.  (f) A decision on whether to invest, not invest, or withdraw from investment the funds of the system shall not be based on a consideration that the location of the investment, fund, company, or any other type of investment vehicle is in the State of Israel.
AR Code § 24-5-107 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-107. Membership

 (a) Any employee of the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation, as defined in § 24-5-101(7), shall become a member of the Arkansas State Highway Employees' Retirement System in the manner and under the conditions provided in this chapter.  (b) Membership in the system may be terminated by retirement, disability, superannuation, or death, or by withdrawal, either voluntary or involuntary, from active service in the department.  (c) Any member with not less than five (5) years of creditable service whose employment with the department is terminated for any reason may leave his or her contributions in the Arkansas State Highway Employees' Retirement System Fund and thereafter be entitled to retirement benefits as otherwise provided in this chapter.
AR Code § 24-5-108 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-108. Members' contributions

 (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 of Trustees of the Arkansas State Highway Employees' Retirement System, 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.
AR Code § 24-5-109 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-109. Employer's contribution

 (a)  (1) The employer contribution shall be a set percentage rate of the compensation of the employee as defined in § 24-5-101.  (2)  (A) The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall determine the set percentage rate after receiving recommendations from the actuary for the Arkansas State Highway Employees' Retirement System.  (B) The set percentage rate shall not be:  (i) Less than twelve and nine-tenths percent (12.9%) of compensation; or  (ii) Greater than fourteen and nine-tenths percent (14.9%) of compensation.        (b) In matching contributions paid under the provisions of § 24-5-108(b), the employer shall match all member contributions for authenticated prior and current service as follows:  (1) Four percent (4%) contribution for service through August 15, 1969;  (2) Six percent (6%) contribution for service from August 15, 1969, to July 1, 1975;  (3) Nine and nine-tenths percent (9.9%) contribution for service from June 30, 1975, to March 20, 1977;  (4) Eleven percent (11%) contribution for service from March 19, 1977, to July 1, 1979;  (5) Twelve and sixty-five hundredths percent (12.65%) contribution for service from June 30, 1979, to June 25, 1981; and  (6) Twelve and nine-tenths percent (12.9%) contribution for service from June 24, 1981.    (c)  (1) In the event that sufficient money is provided to the system to pay the increase in annuities as authorized by § 24-7-714 from other than the fund from which the employees are paid their gross earnings, then the employer's contribution rate for the then-current year shall be twenty-five hundredths of one percent (0.25%) less than the rate stated in subsection (a) of this section.  (2) In matching contributions under the provisions of § 24-5-108(b), the rate shall be the employer's contribution rate for the then-current year.
AR Code § 24-5-110 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-110. Credit for prior and current service in department

 (a)  (1) Any employee of the Arkansas Department of Transportation may make application within one (1) year from the date of becoming a member of the Arkansas State Highway Employees' Retirement System and receive credit for any authenticated prior service rendered as an employee of the department prior to July 1, 1949.  (2) In addition thereto, the employee may receive current service credit for any service rendered as an employee of the department since July 1, 1949, and prior to the date of becoming a member of the system, upon paying into the system to the credit of his or her account an amount equal to four percent (4%) of his or her earnings, not to exceed seven thousand five hundred dollars ($7,500) per annum, for each year of the authenticated prior service, or current service rendered prior to becoming a member of the system, in the event the employee has not previously obtained credit for such service.    (b)  (1) The employee shall pay into the system such necessary contributions and interest as may be prescribed by the Board of Trustees of the Arkansas State Highway Employees' Retirement System within a period of five (5) years.  (2) Not less than one-fifth (1/5) of the total prior service and current service contributions shall be paid during each year of the five-year period.
AR Code § 24-5-112 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-112. Eligibility for benefits — Voluntary retirement

 (a) A member may retire voluntarily as follows:  (1) At age sixty-five (65), or during any year thereafter until the age of compulsory retirement has been attained, with a minimum of five (5) years of creditable service in the Arkansas State Highway Employees' Retirement System;  (2) At age sixty-two (62), with a minimum of fifteen (15) years of creditable service in the system;  (3) At age sixty (60), with a minimum of twenty (20) years of creditable service in the system; or  (4) Regardless of age, with thirty (30) years of creditable service in the system.    (b)  (1) Any retired member who has creditable service with the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation for more than thirty-five (35) years and who is not receiving benefits based on his or her actual creditable service time, on February 27, 1991, shall have his or her annuity adjusted at that time.  (2) The adjustment shall be equivalent to the retirant's original annuity, adjusted for actual service time and subsequent cost-of-living and any ad hoc increases.  (3) The retirant shall be paid such adjusted annuity for each month thereafter.    (c) The Board of Trustees of the Arkansas State Highway Employees' Retirement System, by rule, may reduce the amount of creditable service required to retire voluntarily regardless of age from thirty (30) years of creditable service to an amount of no less than twenty-eight (28) years of creditable service, if the board determines that the change is fair and just to the members of the system and that it is actuarially appropriate.
AR Code § 24-5-114 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-114. Eligibility for benefits — Early retirement

 (a) In addition to retirement as provided in §§ 24-5-112 and 24-5-113, a member may retire after a minimum of five (5) years of service on and after the member's fifty-fifth birthday.  (b)  (1) However, the annuity otherwise payable, as provided in § 24-5-115, shall be reduced eight-tenths of one percent (0.8%) for each of the first sixty (60) months, or fraction thereof, that the early retirement date precedes the earliest date that the member could retire without a reduction in the annuity.  (2) The annuity shall be reduced three-tenths of one percent (0.3%) for each of the next sixty (60) months, or fraction thereof, that the early retirement date precedes the earliest date that the member could retire without a reduction in the annuity.
AR Code § 24-5-115 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-115. Benefits generally

 (a)  (1) Members retired for the reasons set forth in §§ 24-5-112 — 24-5-114 shall be eligible for annual retirement benefits based on two and two-tenths percent (2.2%) of their average compensation, as defined in § 24-5-101, limited to the amount upon which contributions, including supplemental contributions under the provisions of § 24-5-108(b), have been made, multiplied by the number of years of creditable service in the Arkansas State Highway Employees' Retirement System.  (2) Payments shall be made in equal monthly installments.    (b)  (1) In the event a member has not completed payment of his or her service contributions as provided for in § 24-5-108(b) and is current in his or her service contributions at the time of retirement, the Board of Trustees of the Arkansas State Highway Employees' Retirement System is authorized to deduct from each monthly annuity payment an amount equal to one-twelfth (1/12) of the unpaid balance of the service contributions.  (2) The deductions shall continue until all service contributions have been paid in full.
AR Code § 24-5-116 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-116. Benefits — Death of member or retirant

 (a)  (1) In the case of death of a member prior to retirement or of a member's beneficiary whose benefits have been deferred or who for any other reason has not withdrawn the member's contributions, the member's accumulated contributions and any life insurance policy proceeds shall become payable to the designated beneficiary or to the estate of the person having the deferred benefits if a beneficiary has not been designated or is deceased.  (2)  (A) The designated beneficiary may be changed by the member or member's beneficiary in the manner prescribed by the Board of Trustees of the Arkansas State Highway Employees' Retirement System, but the designated beneficiary shall have no legal claim on any contribution made by the state with a view to the retirement of the member or member's beneficiary.  (B) A member may designate different persons to be the beneficiaries for a member's retirement and for his or her life insurance policy in the manner prescribed by the board.      (b)  (1) If a retired member with a straight life annuity dies before he or she has been paid benefits equivalent to his or her contributions to the Arkansas State Highway Employees' Retirement System, the difference between the benefits received and his or her contributions while an active member of the system, together with any other balance to his or her credit in the system, shall be paid to his or her designated beneficiary.  (2) In the event there is no designated beneficiary, refund of the unpaid balance shall be paid to his or her estate.  (3)  (A) Payment of the refund shall be made in full or in installments, as determined by the board.  (B) The benefits may be paid directly to a curator or guardian, to an administrator or to an executor authorized to receive such payments, wherever such representative may be, without the appointment of a representative in this state.      (c)  (1) The system shall provide life insurance in the amount of fifteen thousand dollars ($15,000) for the benefit of each of its members.  (2) The insurance shall remain in force during the life of each member until his or her retirement and shall be paid for by the system.  (3) The system may offer a similar or lesser amount of life insurance coverage on the lives of the member's spouse and his or her dependents with the member bearing the costs of any additional coverage.
AR Code § 24-5-117 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-117. Benefits — Withdrawal from service

 (a)  (1) In the case of withdrawal from service within less than one (1) year after having become a member of the Arkansas State Highway Employees' Retirement System, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon request, shall pay to the member all of his or her accumulated contributions without interest.  (2)  (A) If withdrawal occurs after one (1) year of membership in the system, the board, upon request, shall pay to the member all of his or her accumulated contributions plus interest as determined by the board.  (B) The member so reimbursed shall have no legal claim on any contribution made by the state with a view to his or her retirement.    (3) Payment to a member under the conditions set forth in this subsection shall be made as provided by the board.  (4) A member's interest in the Arkansas State Highway Employees' Retirement System shall be exempt from attachment and execution.    (b)  (1) In the case of an employee's withdrawal from service after becoming a member of the system and when the employee's contribution has accumulated to a total of less than two hundred fifty dollars ($250), then the employee's accumulated contribution shall become forfeit to the Arkansas State Highway Employees' Retirement System Fund unless withdrawn by the former employee from the fund within the first three (3) years following the employee's termination of service with the Arkansas Department of Transportation, provided that such employee is not a member of a reciprocal system.  (2) In the event of forfeiture to the fund, the former employee shall have no further claim upon the Arkansas State Highway Employees' Retirement System.    (c) The payment of the cost of the refunded service shall be based on an actuarial equivalent as prescribed by the board if a member:  (1) Is reemployed by a state employer;  (2) Has received a refund from the Arkansas State Highway Employees' Retirement System; and  (3) Seeks to reinstate time withdrawn.
AR Code § 24-5-119 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-119. Redetermination of benefits

 (a) Beginning with the July 1 which is at least twelve (12) full months after the effective date of each benefit, the amount of each benefit shall be redetermined, and the redetermined amount shall be payable for the ensuing year.  (b)  (1) The redetermined amount shall be the amount of the benefit otherwise payable as of the immediately preceding July 1 increased by the lesser of three percent (3%) or the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers as determined by the United States Department of Labor over the one-year period ending in the December immediately preceding the date for which the redetermined amount is being calculated.  (2) However, the redetermined amount of the benefit to be paid shall not be less than the redetermined amount of the benefit paid in the preceding year.
AR Code § 24-5-120 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-120. Increase in monthly retirement benefit — Schedule

 (a) Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who retired prior to July 1, 1985, and who receive an annuity for July 1987, shall be increased by no more than fifteen percent (15%) of the annuity received for June 1987.  (b) The fifteen percent (15%) increase shall be in accordance with the following schedule:    Retired Percent Increase After 6-30-85 0% 7-1-83 through 6-30-85 1% 7-1-82 through 6-30-83 2% 7-1-81 through 6-30-82 3% 7-1-80 through 6-30-81 4% 7-1-79 through 6-30-80 5% 7-1-78 through 6-30-79 6% 7-1-77 through 6-30-78 7% 7-1-76 through 6-30-77 8% 7-1-75 through 6-30-76 9% 7-1-74 through 6-30-75 10% 7-1-73 through 6-30-74 11% 7-1-72 through 6-30-73 12% 7-1-71 through 6-30-72 13% 7-1-70 through 6-30-71 14% Before 7-1-70 15%   Click to view table.
AR Code § 24-5-123 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-123. Credit for military service

 (a) Any person who is a member of the Arkansas State Highway Employees' Retirement System shall be entitled to purchase creditable service in the system for a period not to exceed three (3) years for active service rendered by the member in the United States Armed Forces, after the member's first employment in a position covered by a state-supported retirement system, excluding active service for the purpose of attending schools or other peacetime training of the member in the military reserve or national guard, if the person:  (1) Has ten (10) years of creditable service with this retirement system;  (2) Received an honorable discharge from the armed forces;  (3) Is not receiving federal military service retirement pay, excluding federal military disability retirement pay;  (4) Is not qualified to claim the military service in the system under § 24-2-502 or § 24-5-101 et seq.; and  (5)  (A) Except as provided in subdivision (a)(5)(B) of this section, contributes to the members' deposit account a sum of money equal to an amount based on an actuarial equivalent as prescribed by the Board of Trustees of the Arkansas State Highway Employees' Retirement System.  (B) Subdivision (a)(5)(A) of this section does not apply if this section conflicts with the Uniformed Services Employment and Reemployment Rights Act of 1994, 38 U.S.C. § 4301 et seq., as in effect on February 1, 2011, as it provides for employees who leave employment for active military service.      (b)  (1) Interest shall be paid at the rate of six percent (6%) per year from December 31, 1987, or six (6) months after the end of the month in which the member first has ten (10) years of creditable service, whichever is later.  (2) In no event may payments be extended beyond three (3) years from the date of application.  (3) It is further required that all payments must be completed before this military service time can be used to compute annuity benefits at time of retirement.    (c)  (1) This section shall be supplemental to any other laws relating to the members of the system. Nothing in this section shall be construed to repeal or modify any existing provisions of this system's laws providing for creditable service in the system for military service, nor to diminish the right of any member of this system to obtain creditable service in the system for military service under existing laws.  (2)  (A) In no event shall any member of this system be entitled to receive in excess of five (5) years of creditable service for military service rendered by the member.  (B) No member shall be eligible for creditable service in more than one (1) state-supported retirement system.
AR Code § 24-5-124 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 5 - Arkansas State Highway Employees' Retirement|Subchapter 1 - General Provisions|§ 24-5-124. Minimum monthly benefit

 All persons who are now vested or who hereafter vest under the Arkansas Public Employees' Retirement System or the Arkansas State Highway Employees' Retirement System shall be entitled to a minimum monthly benefit of one hundred fifty dollars ($150).