reglab/housing_qa huggingface dataset:
AR Code § 24-10-613 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-613. Disposition of accumulated contributions

 (a)  (1) On or after July 1, 2013, if a retirant and his or her eligible beneficiary, if any, both die before they have received in annuity payments a total amount equal to the accumulated contributions standing to the retirant's credit in the Arkansas Local Police and Fire Retirement System at the time of his or her retirement, the difference between the accumulated contributions and the total amount of annuities received by them shall be paid to the persons the retirant nominated in a manner prescribed by the system and filed with the Board of Trustees of the Arkansas Local Police and Fire Retirement System.  (2) If no designated person survives the retirant and his or her beneficiary, the difference shall be paid to the estates of the survivor of the retirant and his or her beneficiary.    (b) In the event a member ceases to be a member, other than by death, before the date he or she becomes vested to receive an annuity payable by the system, he or she shall be paid the accumulated contributions standing to his or her credit in the members' deposit account upon his or her proper application filed with the board.  (c)  (1) In the event a member dies and no annuity becomes or will become payable by the system on account of his or her death, the accumulated contributions standing to his or her credit in the members' deposit account at the time of his or her death shall be paid to the persons he or she nominated in a manner prescribed by the system and filed with the board.  (2) If there are no designated persons surviving the member, the accumulated contributions shall be paid to his or her surviving spouse or to his or her estate, if there is no surviving spouse.    (d)  (1) In the event a member's membership in the system terminates and no annuity becomes or will become payable on his or her account, any accumulated contributions standing to his or her credit in the members' deposit account and unclaimed by the member or his or her legal representative within three (3) years from and after the date his or her membership terminated shall be transferred to the income-expense account.  (2) If, thereafter, proper application is made for the accumulated contributions, the board shall pay them from the income-expense account but without interest after the date payment was first due.
AR Code § 24-10-614 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-614. Payment of reserve value

 (a) The plan may pay the reserve value of any annuity benefit to a retirant or beneficiary when the annuity benefit payment is less than twenty dollars ($20.00) per month, except that the consent of the payee shall be required if the payment exceeds one thousand seven hundred fifty dollars ($1,750).  (b) The reserve value shall be the actuarial equivalent of the annuity otherwise payable.  (c) Any lump-sum payment so made shall be a complete discharge of all liability under the plan with respect to the annuity.
AR Code § 24-10-615 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-615. Suspension of payments upon request

 (a) Notwithstanding any other provision of a plan, a person entitled to receive a plan benefit may request in a manner prescribed by the system, for personal reasons and without disclosure thereof, to suspend for any period the payment of all or any part of the benefit otherwise payable to him or her under this chapter.  (b) Upon receipt of proper notice, the plan shall authorize the suspension, and the person shall be deemed to have forfeited all rights to the amount of benefits so suspended but shall have the right to have the full benefit otherwise payable reinstated as to future monthly payments upon proper notice to the plan to revoke the prior request for a suspension under this section.
AR Code § 24-10-616 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-616. Subjection of benefit rights to legal process

 The right of a person to an annuity, the return of accumulated contributions, the annuity itself, any annuity option, any other right accrued or accruing under the provisions of this chapter, and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any other process of law whatsoever and shall be unassignable, except as is specifically provided in this chapter. However, an employer shall have the right of setoff for any claim arising from embezzlement by, or fraud of, a member, retirant, or beneficiary.
AR Code § 24-10-617 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-617. Survivor health benefits

 (a) When a municipal employee who is vested in a municipal retirement system under the Arkansas Local Police and Fire Retirement System, § 24-10-101 et seq., or under a local policemen's pension and relief fund, § 24-11-401 et seq., or under a firemen's relief and pension fund, § 24-11-801 et seq., is killed or dies in the course of his or her employment and is survived by a spouse, or has surviving dependents actively drawing a benefit from those municipal retirement systems, then the surviving spouse or surviving dependents may continue to participate in the municipality's healthcare plan as long as the surviving spouse or surviving dependents pay both employer and employee contributions to the healthcare plan.  (b) However, a surviving spouse or surviving dependent may qualify to continue on the healthcare plan only so long as they remain an eligible beneficiary under the retirement system.
AR Code § 24-10-618 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-618. Limitation on benefits granted by Acts 1997, No. 765

 No benefit enhancement provided for by § 24-10-610 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-10-610 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
AR Code § 24-10-619 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-619. Limitation on benefits granted by Acts 1997, No. 1136

 No benefit enhancement provided for by §§ 24-10-604, 24-10-605, and 24-10-611 shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by §§ 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years until the unfunded actuarial accrued liability is reduced to a level less than the standards prescribed by § 24-1-101 et seq.
AR Code § 24-10-620 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 6 - Benefits|§ 24-10-620. Limitations on benefits

 (a)  (1) Notwithstanding any language to the contrary under this chapter, benefits attributable to employer contributions and paid under the Arkansas Local Police and Fire Retirement System shall not exceed the limitations of the Internal Revenue Code of 1986, 26 U.S.C. § 415, as it existed on January 1, 2011, that are applicable to government retirement plans for employees of police and fire departments, including without limitation the dollar limitations in the Internal Revenue Code of 1986, 26 U.S.C. § 415(b)(1)(A), as it existed on January 1, 2011.  (2) If the dollar amount referenced in the Internal Revenue Code of 1986, 26 U.S.C. § 415(b)(1)(A), as it existed on January 1, 2011, is increased pursuant to regulations issued under that section, the increase shall be effective as of January 1 of the calendar year for which the regulations were effective.    (b) The annual benefits, as may be increased in subsequent years, that are paid to a retirant of the system shall not exceed the limitations under the Internal Revenue Code of 1986, 26 U.S.C. § 415(b), as it existed on January 1, 2011, applicable to the annuity effective date under that section.  (c) For purposes of determining compliance with the Internal Revenue Code of 1986, 26 U.S.C. § 415, as it existed on January 1, 2011, “compensation” is defined as set forth in United States Department of the Treasury Regulation, 26 C.F.R. § 1.415-2(d)(2), as it existed on January 1, 2011.
AR Code § 24-10-701 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-701. Election to participate

 (a) In lieu of terminating employment and accepting a voluntary service retirement benefit, a police officer or firefighter who is a member in paid service with the Arkansas Local Police and Fire Retirement System may elect in a manner prescribed by the system to participate in the Local Police and Fire Deferred Retirement Option Plan under this section and defer the receipt of benefits in accordance with the provisions of this subchapter, provided that the member meets one (1) of the following requirements:  (1) The member has at least twenty-eight (28) years of service; or  (2) The member has at least twenty (20) years of service and is at least fifty-five (55) years of age.    (b) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall approve the participation in the plan.
AR Code § 24-10-702 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-702. Credited service

 (a) For purposes of this subchapter, “credited service”:  (1) Includes military service credit under § 24-10-502; and  (2) Does not include service credit that is purchased under the Arkansas Local Police and Fire Retirement System.    (b) An active member in paid service may use up to thirty-six (36) months of actual volunteer service credit with the system to attain eligibility to participate in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701.  (c) In all cases, the accrual of any additional service credit shall not occur upon the enrollment in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-701.
AR Code § 24-10-703 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-703. Contributions

 (a) If a member begins participation in the Local Police and Fire Deferred Retirement Option Plan, the employer and employee contributions shall continue to be paid.  (b) Employer and employee contributions for employees who participate in the plan shall be credited to the Arkansas Local Police and Fire Retirement System.  (c)  (1) For a member who has at least twenty-eight (28) years of service before electing to participate in the plan, seventy-five percent (75%) of the member's monthly retirement benefit that would have been payable had the member elected to cease employment and receive a service retirement shall be paid into the member's plan account.  (2) For a member who has at least twenty (20) years of service but less than twenty-eight (28) years of service and is at least fifty-five (55) years of age before electing to participate in the plan, seventy-two percent (72%) of the member's monthly retirement benefit that would have been payable had the member elected to cease employment and receive a service retirement shall be paid into the member's plan account.
AR Code § 24-10-704 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-704. Benefits — Rate of return

 (a) The member's monthly retirement benefit shall not change unless the retirement annuity as defined in § 24-10-602 is increased.  (b)  (1) A member who participates in this plan shall be credited interest at a rate of six percent (6%) per annum.  (2) The interest shall be credited to the individual account balance of the member on an annual basis.    (c)  (1) When a member has reached year six (6) of participation in the Local Police and Fire Deferred Retirement Option Plan under § 24-10-706, the amount of the benefit calculated at the time of enrollment in the plan shall be redetermined consistent with § 24-10-602.  (2) The redetermined amount shall be the amount of the benefit as of the immediately preceding July 1 increased by three percent (3%).  (3) The redetermined amount shall be payable only when the member elects to cease employment and receive a service retirement and shall not be added to the plan account.
AR Code § 24-10-705 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-705. Method of payment

 At the option of the participant, the participant in the Local Police and Fire Deferred Retirement Option Plan shall receive:   (1) A lump-sum payment from the account equal to the payments into the plan account;  (2) A monthly annuity that is the actuarial equivalent of the lump-sum amount and paid in the form of one (1) of the options for an annuity under § 24-10-603; or  (3) Another method of payment if another method is approved by the Board of Trustees of the Arkansas Local Police and Fire Retirement System.
AR Code § 24-10-706 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-706. Duration

 (a) The duration of participation in the Local Police and Fire Deferred Retirement Option Plan for active paid service police officers and firefighters shall not exceed seven (7) years.  (b) At the conclusion of a member's participation in the plan, the member shall terminate employment with the employer and shall start receiving the member's monthly retirement benefit that would have been received if the member had retired at the time the member elected to participate in the plan.  (c)  (1) At the conclusion of a member's participation in the plan, the member may defer receiving payment of the participant's account and continue with the funds deposited in the plan.  (2) Interest credited under subdivision (c)(1) of this section shall be calculated in the same manner as § 24-10-704(b), except the interest shall be credited at a rate of two percent (2%) per annum.    (d)  (1) The payment of funds accumulated in the plan may be deferred one (1) time.  (2) All funds in the plan shall be distributed in a manner prescribed by the Board of Trustees of the Arkansas Local Police and Fire Retirement System no later than December 31 of the year the participant attains the age of seventy and one-half (70 1/2) years.
AR Code § 24-10-707 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-707. Death of participant

 (a) If the participant dies during the period of participation in the Local Police and Fire Deferred Retirement Option Plan, a lump-sum payment equal to the account balance of the participant shall be paid to the participant's survivors or if none, to the participant's estate.  (b) A survivor is entitled to the annuity provided under § 24-10-603 based on the service and final average salary at the time the member elected to participate in the plan.
AR Code § 24-10-708 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-708. Disability of participant

 If the participant becomes disabled during the period of participation in the Local Police and Fire Deferred Retirement Option Plan, the participant shall be treated as any other member who has elected to conclude the other member's participation.
AR Code § 24-10-709 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 10 - Arkansas Local Police And Fire Retirement System|Subchapter 7 - Local Police and Fire Deferred Retirement Option Plan|§ 24-10-709. Partial-annuity-and-lump-sum option

 (a) If a member does not terminate employment and retire on the date the member meets the service requirements of § 24-10-604 for an unreduced annuity and was not eligible for or has not elected to participate in the Local Police and Fire Deferred Retirement Option Plan as provided in this subchapter, the member may elect, in a manner prescribed by the Arkansas Local Police and Fire Retirement System, at the time of retirement to participate in the partial-annuity-and-lump-sum option under this section.  (b)  (1)  (A) At the time of retirement, a member electing to participate shall be eligible to receive a lump-sum distribution in an amount not exceeding one (1) month of benefit for each completed month of service beyond eligibility for an unreduced benefit.  (B) The lump sum shall not exceed an amount equal to sixty (60) months of benefits.    (2) The member electing to participate in the partial-annuity-and-lump-sum option shall then have the member's annuity reduced by an amount that is an actuarially determined equivalent of the withdrawal amount.    (c) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall adopt rules under this section governing the application for the partial-annuity-and-lump-sum option and the determination of the actuarially equivalent amount of the withdrawal.
AR Code § 24-11-101 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 1 - General Provisions|§ 24-11-101. Legislative intent

 (a) The provisions of this subchapter are intended to establish procedures whereby the benefits to members and beneficiaries under the firemen's relief and pension funds and the policemen's pension and relief funds within the respective municipalities of this state may be increased on an orderly basis without a deterioration of actuarial soundness and are further intended to establish procedures for review and certification in order that the proposed increase in pension and relief fund benefits will not result in a deterioration of actuarial soundness prior to the adoption or implementation thereof.  (b) It is not the intent of this subchapter to repeal or modify any of the existing firemen's relief and pension fund or policemen's pension and relief fund laws of this state, and this subchapter shall be construed to supplement and to be in addition to any of those laws in effect.
AR Code § 24-11-103 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 1 - General Provisions|§ 24-11-103. Actuarial valuation

 (a) The cost of actuarial valuation made under the provisions of § 24-11-102 shall be paid by the board of trustees of the firemen's relief and pension fund or the board of trustees of the policemen's pension and relief fund which proposes to increase member or beneficiary benefits under the fund.  (b) The actuarial valuation shall include:  (1) The current financial and actuarial status of the income and liabilities of the firemen's relief and pension fund or policemen's pension and relief fund;  (2) A detailed statement of the proposed benefit increases;  (3) A comparison reflecting that the level of contributions and other income under the pension and relief fund is sufficient to amortize the unfunded liabilities resulting from the benefit increase over a thirty-year period; and  (4) A valuation determining whether, in the opinion of the actuary, the benefit increase, in conjunction with the addition of resources to reserves to increase actuarial soundness, will result in a deterioration of the actuarial soundness of the fund.
AR Code § 24-11-104 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 1 - General Provisions|§ 24-11-104. Rules

 The Department of Finance and Administration is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of §§ 24-11-301 and 24-11-809.
AR Code § 24-11-105 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 1 - General Provisions|§ 24-11-105. Survivor benefits for spouses who remarry

 The board of trustees of the local firemen's relief and pension fund or the board of trustees of the local policemen's pension and relief fund may elect to continue paying survivor benefits to spouses who remarry after they begin receiving benefits under the plan. However, before the election is effective, the election shall be approved by a majority vote of the governing body of the political subdivision, if any, after the plan meets the requirements for benefit increases under § 24-11-102.
AR Code § 24-11-201 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-201. Definitions

 As used in this subchapter, unless the context otherwise requires:   (1) “Accountant” means an accountant who is authorized by Arkansas law to practice public accounting in Arkansas;  (2) “Actuary” means an actuary:  (A) Who is a member of the American Academy of Actuaries or who meets other criteria for qualification which may be established by the General Assembly; and  (B) Who is experienced in retirement plan financing; and    (3) “Plan” means any Arkansas municipal policemen's pension and relief fund or any Arkansas municipal firemen's relief and pension fund, including relief and pension funds of volunteer fire departments.
AR Code § 24-11-202 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 11 - Local Police And Fire Pension And Relief Funds|Subchapter 2 - Disclosure of Financial Condition — Arkansas Fire and Police Pension Review Board|§ 24-11-202. Noncompliance with subchapter

 (a) If it is determined that a plan is not complying with the provisions of this subchapter, the Executive Director of the Arkansas Fire and Police Pension Review Board shall certify the noncompliance to the Secretary of the Department of Finance and Administration, who shall withhold all moneys otherwise due the plan from the state until compliance is achieved.  (b) All actions taken by the executive director shall be subject to review and acceptance by the Arkansas Fire and Police Pension Review Board.