reglab/housing_qa huggingface dataset:
AR Code § 24-8-704 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-704. Membership generally

 (a) Whether elected or appointed to office, all chancery, circuit, and circuit-chancery judges, judges of the Court of Appeals, and justices of the Supreme Court shall participate in the Arkansas Judicial Retirement System.  (b) A person who becomes a member of the system on or after July 30, 1999, shall participate in the Tier Two Actual Judicial Service Benefit Plan for the system.  (c) Any active member who was a member of the system before July 30, 1999, shall have until the end of the term of office in which the member is serving on July 30, 1999, to elect coverage under the benefit provisions of this subchapter. A former member who was an active member on December 31, 1998, shall have until July 31, 1999, or ninety (90) days after July 30, 1999, whichever is later, to elect coverage under the benefit provisions of the subchapter. The election shall be made as directed by the Board of Trustees of the Arkansas Judicial Retirement System and shall be irrevocable.
AR Code § 24-8-705 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-705. Members electing coverage

 (a) A member electing coverage under this subchapter shall be entitled to:  (1) A refund to the member for any credited service purchased under the Arkansas Judicial Retirement System together with six percent (6%) interest compounded annually from the date of payment;  (2) Restoration of service to another state-supported retirement system of any credited service that had been transferred to the Arkansas Judicial Retirement System upon refunding to that system any sums transferred by that system along with six percent (6%) interest compounded annually from the date of the transfer; or  (3) Substitute purchased service for actual service for which no member contribution was made, as provided under subsection (b) of this section.    (b)  (1) A member or former member who elects coverage under this subchapter and who has accrued additional actual service prior to the date of transfer but after the date member contributions ceased shall pay to the Arkansas Judicial Retirement System on the effective date of transfer the contributions that would have been paid on the additional actual service at the rate of five percent (5%) of the pay received along with six percent (6%) interest computed annually from the date the contributions would have been paid to the effective date of transfer. However, in no instance, shall the member be required to pay contributions on active service that would exceed the amount required in § 24-8-708.  (2)  (A) If the member or former member has actual service for which no member contributions were made, then purchased service may be used to reduce the period of actual service for which payments are due under subdivision (b)(1) of this section. The purchased service may be subtracted from the period of actual service for which contributions were not made and the member or former member shall make payments only on the remaining period. However, purchased service shall not be substituted for contributions required for actual service occurring after the first twenty (20) years of actual service.  (B) Purchased service substituted for actual service under subsection (b) of this section shall be the most expensive service purchased by the member.  (C) If the member or former member has credited service remaining after making the substitution allowed under this subsection, the remaining credited service may be refunded under subdivision (a)(1) of this section or restored to another state system under subdivision (a)(2) of this section.  (D) Any purchased service substituted under subsection (b) of this section may not be used as credited service in another state-supported system.
AR Code § 24-8-706 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-706. Contributions — Members — Refund

 (a) The contribution of each member of the Tier Two Actual Judicial Service Benefit Plan for the Arkansas Judicial Retirement System shall be five percent (5%) of each member's annual salary.  (b) If a judge or justice ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid by him or her into the system. If a judge or justice who has received a refund returns to covered employment under the Arkansas Judicial Retirement System or a reciprocal system as defined in § 24-2-401(3), the person shall be eligible in accordance with methods and procedures established by the Board of Trustees of the Arkansas Judicial Retirement System to repay the refund and restore the service forfeited when the refund was received.  (c) For purposes of deferring federal and state income tax and pursuant to the provisions of 26 U.S.C. 414(h)(2), as adopted by § 26-51-414, the state shall pick up the members' contributions to the Judicial Retirement Fund under the Tier Two Actual Judicial Service Benefit Plan for the Arkansas Judicial Retirement System. Member contributions picked up by the state shall be paid from the same source of funds used for the payment of salary to a member. A deduction shall be made from each member's salary, equal to the amount of the member's contribution picked up by the employer. For all other purposes, member contributions picked up by the state shall be considered member contributions.
AR Code § 24-8-707 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-707. Contributions — State

 (a) The state, as employer, shall make contributions to the Arkansas Judicial Retirement System of twelve percent (12%) of the active member payroll.  (b) The Chief Fiscal Officer of the State is authorized and directed to make annual transfers each July 1 to the Judges Retirement Fund from the Constitutional Officers Fund and the State Central Services Fund in an amount determined by computing the dollar amount required based on the actuarially determined employer rate in the most recent annual actuarial valuation and subtracting from that amount the statutory contribution amount specified in subsection (a) of this section, and further, reduced by the amount of the court cost revenue transferred to the Judges Retirement Fund from the State Administration of Justice Fund in accordance with § 16-10-310.
AR Code § 24-8-708 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-708. Contributions — Cessation upon maximum benefit eligibility

 When a judge or justice has sufficient service to receive the maximum benefit under § 24-8-713(a), no further contribution shall be required.
AR Code § 24-8-709 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-709. Actual service requirement

 Benefits and eligibility for benefits under this subchapter shall be based on actual service in the Arkansas Judicial Retirement System. Laws allowing the purchase of credited service or providing free credited service shall not apply to this subchapter. However, the provisions of § 24-2-401 et seq. may be used to meet the service requirements of this subchapter.
AR Code § 24-8-710 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-710. Eligibility for benefits — Retirement generally

 (a) Any member who has a minimum of twenty (20) years of actual service may retire regardless of age, and any judge or justice who has served at least eight (8) years shall be eligible for benefits upon reaching age sixty-five (65).  (b)  (1) Any judge or justice who becomes seventy (70) years of age during a term of office to which he or she has been elected may complete the term without forfeiting his or her rights to retirement benefits under this section.  (2)  (A) Any judge or justice who is not eligible to retire at age seventy (70) may continue to serve as judge or justice until the completion of the term of office in which he or she has sufficient service to retire without losing his or her retirement benefits.  (B) The judge or justice shall lose all retirement benefits if he or she serves beyond the end of the term needed to get sufficient service to retire.    (3)  (A) Otherwise, judges or justices must retire by their seventieth birthday or lose their retirement benefits.  (B) However, any active judge or justice who was serving prior to July 1, 1965, may continue to serve until any age and upon retirement shall be eligible to receive retirement benefits.
AR Code § 24-8-711 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-711. Eligibility for benefits — Early retirement

 (a) Any member of the Tier Two Actual Judicial Service Benefit Plan for the Arkansas Judicial Retirement System who has eight (8) years or more of actual service in the system may elect to retire and receive retirement benefits at any time after reaching age sixty-two (62) and before reaching age sixty-five (65).  (b) The retirement benefits of a member electing to retire before age sixty-five (65) with less than twenty (20) years of actual service shall be reduced six percent (6%) for each full year and proportionately for any part of a year that the judge or justice retires before reaching age sixty-five (65).
AR Code § 24-8-712 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-712. Eligibility for benefits — Disability retirement

 (a) Any member under the Tier Two Actual Judicial Service Benefit Plan of the Arkansas Judicial Retirement System who has served a minimum of three (3) consecutive years as a member of the system shall receive retirement benefits if any incapacitating disability as determined by the Board of Trustees of the Arkansas Judicial Retirement System shall occur during any term for which the judge or justice has been elected.  (b)  (1) A judgment of disability should not be granted by the board until it is reasonably assured of a judge's or justice's permanent physical or mental incapacity to perform the duties of his or her judicial office.  (2) The board should act only upon proper certification of incapacity by two (2) or more physicians.
AR Code § 24-8-714 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-714. Restrictions on benefits

 (a) The sections of this subchapter are to be complementary, except that no person may take benefits under two (2) or more sections of this subchapter at the same time.  (b) Retirement and survivors' benefits shall be measured by the salary payable for the position last held by the retired or deceased judge or justice at the time of retirement.
AR Code § 24-8-716 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-716. Effect on other laws

 The provisions of this subchapter shall be accumulative to all present laws pertaining to the retirement of judges of the circuit, chancery, and circuit-chancery courts and of justices of the Supreme Court and shall in no way repeal, amend, or modify such laws except as otherwise specifically provided in this subchapter.
AR Code § 24-8-717 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 7 - Tier Two Actual Judicial Service Benefit Plan|§ 24-8-717. Redetermination of benefits

 Notwithstanding § 24-8-715 [repealed], each July 1 the Arkansas Judicial Retirement System shall redetermine the amount of each monthly benefit which has been paid by the system under the Tier Two Actual Judicial Service Benefit Plan for at least twelve (12) full calendar months. The redetermined amount shall be payable for the following twelve (12) calendar months. The redetermined amount shall be the amount of the benefit payable as of the immediately preceding July 1 increased by three percent (3%).
AR Code § 24-8-901 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 9 - District Court Clerks' Retirement|§ 24-8-901. Definition

 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.
AR Code § 24-8-902 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 9 - District Court Clerks' Retirement|§ 24-8-902. Additional funding for district court clerks

 (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.
AR Code § 24-8-903 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 9 - District Court Clerks' Retirement|§ 24-8-903. Retirement membership of district court clerks

 (a) All municipal court clerks and district court clerks who are members of a municipal judge's retirement fund on December 31, 2004, shall become members of the Arkansas Public Employees' Retirement System on January 1, 2005.  (b) If the local government employing the district court clerk on December 31, 2004, is not a participating employer under the system, then the local government shall become a participating employer under the system for the district court clerk beginning on January 1, 2005.
AR Code § 24-8-904 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 8 - Retirement Of Judges And Court Employees|Subchapter 9 - District Court Clerks' Retirement|§ 24-8-904. Reciprocal system

 (a) Court clerks placed in the Arkansas Public Employees' Retirement System under this subchapter shall be covered by the reciprocal provisions of §§ 24-2-401 — 24-2-404.  (b) There is no reciprocal service between the local municipal judge retirement systems and the reciprocal systems listed in § 24-2-401(3) before January 1, 2005.  (c) In establishing eligibility for a benefit from each system, the credited service under all reciprocal systems is totaled, and the credited service is used in determining eligibility for each system benefit.  (d)  (1) Only the credited service under that system and the benefit formula of that system are used in determining the amount of a benefit from each system.  (2) This subchapter is not intended to decrease the benefits earned nor increase the eligibility requirements for members who were participants in a local plan, as authorized by law, prior to January 1, 2005.  (3) The benefits earned and those eligibility requirements shall transfer to the Arkansas Public Employees' Retirement System.    (e) If a system provides a benefit amount that is not dependent on length of credited service, the benefit amount shall be reduced to the proportion that system-credited service bears to total reciprocal system-credited service.
AR Code § 24-9-201 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-201. Legislative intent

 Authorized investments of moneys by the governing bodies of the various trust funds within this state are now provided by law. It is not the intent of this subchapter to change or prescribe the allowable investments in certificates of deposit, registered securities, or negotiable securities.
AR Code § 24-9-202 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-202. Definition

 As used in this subchapter, unless the context otherwise requires, “trust funds” means all assets and holdings of the various firemen's and policemen's pension funds of this state. In addition, other assets and holdings which are of a trust nature and are under the administration of political subdivisions of this state are, for purposes of this subchapter, to be considered trust funds. However, trust funds shall not include funds required to be maintained by ordinances, resolutions, or indentures securing bond issues of political subdivisions.
AR Code § 24-9-203 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-203. Applicability

 This subchapter shall apply to all funds as defined in § 24-9-202 and administered by any political subdivision of this state.
AR Code § 24-9-204 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-204. Employment of trust administrators

 (a) By board action, the board of trustees may employ a commercial firm normally engaged in providing trust services, if each employee of the trust department who handles the trust funds is covered by a good and sufficient fidelity bond, to act as the agent for the board of the trust for the purpose of maintaining and administering the fund and to provide such assistance or services as the board of the trust may reasonably require in the performance of its duties.  (b) The bank or firm so employed shall not have the authority to make any investment decision or any determination as to the eligibility of any person entitled to receive a pension or any other benefit from the fund, nor to make any determination as to the amount of any pension or benefit which any person may be entitled to receive from the fund.
AR Code § 24-9-205 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-205. Bank accounts

 When the governing body of a trust deposits money of that trust in a commercial bank account or in a trust account of a trust department of a bank or other firm normally engaged in providing trust services, the following minimum requirements must be met:   (1) Funds must be deposited into the account in the name of the trust;  (2) Withdrawals from the account, whether by check or warrant, shall require the signatures of the chair and the treasurer of the board of the trust; and  (3)  (A) The treasurer shall execute a bond to the board of trustees with good and sufficient sureties in such penal sum as the board shall direct, conditioned on the faithful performance of the duties of his or her office.  (B) The bond shall be filed in the office of the board of trustees.
AR Code § 24-9-206 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-206. Certificates of deposit

 When a governing body of a trust shall decide to invest moneys belonging to the trust in certificates of deposit, the following conditions must be met:   (1) The certificate of deposit must be issued in the name of the trust;  (2) The certificate, when received, must be maintained at the office of the board of trustees or in the trust department of a firm normally engaged in providing trust services; and  (3) Subsequent to the purchasing of a certificate of deposit, the board of trustees shall be required to request confirmation of the validity of the certificate directly from the issuing bank.
AR Code § 24-9-207 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-207. Registered securities

 (a)  (1) When the governing body of a trust decides to invest trust moneys in registered securities, all the securities purchased shall be issued in the name of the trust with at least the signatures of two (2) members of the board required for renegotiation of the securities.  (2) One (1) signature shall be that of the board treasurer and the other that of the chair of the board.    (b) The securities are to be maintained in the office of the board of trustees or the trust department of a commercial firm normally engaged in providing trust services.  (c)  (1) Subsequent to the purchase of the securities, the board of trustees shall request confirmation directly from the issuing company of the registration of the securities. The confirmation shall be made by the board independently of the agent through whom the securities were purchased.  (2) The board of trustees shall maintain copies of the confirmation letters as a part of its records.
AR Code § 24-9-208 (2020)
2020 Arkansas Code|Title 24 - Retirement And Pensions|Chapter 9 - Local Pension Funds Generally|Subchapter 2 - Investment of Pension and Trust Funds|§ 24-9-208. Negotiable securities

 (a) When the board of trustees of a trust decides to invest trust moneys in negotiable securities, the board shall purchase the securities from reputable bonded dealers in those securities.  (b) The board shall require the dealers to certify to the authenticity of the securities.  (c) The securities shall be held in the office of the board of trustees or by the trust department of a commercial firm normally engaged in providing trust services.  (d) The sale of negotiable securities shall require written authorization from at least two (2) board members, one being the board treasurer and the other the chair of the board.