reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 4 - FUNDS - CONTRIBUTIONS - MANAGEMENT OF ASSETS (§§ 24-10-401 — 24-10-411) › Section 24-10-408 - State contributions - System administrative expenses

(a)
Subject to the provisions of this chapter, the state shall not contribute to finance the Arkansas Local Police and Fire Retirement System, except those amounts which the political subdivision may receive under laws providing for a general apportionment of political subdivision moneys throughout the state.
(b)
The system administrative expenses provided by employer contributions and by system investment return shall not exceed a total of one-half of one percent (0.5%) of active member pays plus one percent (1%) of system assets.
(c)
Because the system is covering future hires and not present employees, it will be a few years until the system has grown enough that the administrative expense maximum specified in subsection (b) of this section will cover all system administrative expenses. Until the inevitable growth has occurred, the portion of system administrative expenses not covered by that maximum amount shall be paid from the revenues derived from the premium taxes levied on foreign insurers by the Arkansas Insurance Code or any other funds designated for support of firefighters' pension funds and police officers' pension funds in political subdivisions.
Acts 1981, No. 364, § 6; A.S.A. 1947, § 12-3806.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 4 - FUNDS - CONTRIBUTIONS - MANAGEMENT OF ASSETS (§§ 24-10-401 — 24-10-411) › Section 24-10-409 - Proration of state revenues between political subdivision and its relief fund

(a)
For each political subdivision with a relief fund in effect, the relief fund has been receiving revenues from the state derived from the taxes levied on foreign and domestic insurers by the Arkansas Insurance Code, and §§
24-11-301
,
24-11-801
-
24-11-807
,
24-11-809
,
24-11-813
-
24-11-816
,
24-11-818
-
24-11-820
,
26-57-601
-
26-57-605
, and
26-57-607
or any other state funds designated for support of fire and police retirement programs in political subdivisions.
(b)
(1)
(A)
Those state revenues shall be prorated between the relief fund and the political subdivision based upon the total number of members active and retired and beneficiaries covered by the relief fund and by the Arkansas Local Police and Fire Retirement System.
(B)
However, the amount allocated:
(i)
To the political subdivision shall not exceed one hundred percent (100%) of the cost as calculated under §
24-11-214(e)(8)
; and
(ii)
To the local pension and relief fund shall not exceed one hundred percent (100%) of the cost as calculated under §
24-11-214(e)(7)
.
(2)
In the case of multiple beneficiaries of a single deceased member, those individuals shall be counted as one (1) for purposes of this section.
(c)
If there is a mixture of employees acquiring paid service and employees acquiring volunteer service, one (1) paid service employee shall be equal to five (5) volunteer service employees for prorating purposes.
(d)
Each political subdivision without a relief fund in effect July 1, 1981, which subsequently covers its fire or police department under the system shall also receive insurance revenues.
(e)
(1)
Except as provided in subdivision (e)(2) of this section, all moneys received by the political subdivisions shall be applied to the employer contribution required to support this system.
(2)
If there is any money remaining after the subsidy account balance has been exhausted, as calculated by the actuary for the Arkansas Fire and Police Pension Review Board, the governing body of the political subdivision may transfer any or all of the excess moneys to the governing body's policemen's pension and relief fund or firemen's relief and pension fund, or both, with the prior written approval of the board.
Acts 1981, No. 364, § 6; 1985, No. 755, § 1; A.S.A. 1947, § 12-3806; Acts 1989, No. 459, § 1; 1989, No. 587, § 1; 2003, No. 1797, § 4; 2005, No. 248, § 1; 2011, No. 556, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 4 - FUNDS - CONTRIBUTIONS - MANAGEMENT OF ASSETS (§§ 24-10-401 — 24-10-411) › Section 24-10-410 - Delinquent payments

(a)
If any political subdivision fails to make any payment due the Arkansas Local Police and Fire Retirement System for a period of ten (10) days after the payment is due, the political subdivision shall become delinquent, and the delinquency shall be certified by the Board of Trustees of the Arkansas Local Police and Fire Retirement System to the Treasurer of State.
(b)
Until the delinquency, together with regular interest, is satisfied, the Treasurer of State is authorized and directed to withhold all moneys due the political subdivision by the state.
Acts 1981, No. 364, § 6; A.S.A. 1947, § 12-3806; Acts 1987, No. 271, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-503 - [Repealed]

Repealed by Act 2021, No. 72,§ 2, eff. 4/1/2021.
Amended by Act 2013, No. 40,§ 6, eff. 2/6/2013.
Acts 1981, No. 364, § 4; A.S.A. 1947, § 12-3804.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-505 - Public service with other Arkansas systems

(a)
For the purpose of this section, "related system" means any of four (4) retirement systems:
(1)
The Arkansas Local Police and Fire Retirement System;
(2)
The Arkansas Public Employees' Retirement System;
(3)
The State Police Retirement System; or
(4)
The Arkansas Teacher Retirement System.
(b)
The benefit payable by each related system shall be based upon:
(1)
The service credit with that system;
(2)
The benefit program the related system had in effect at the time the member terminated service covered by the related system; and
(3)
The member's service and pay covered by the related system while the service was being rendered.
(c)
During any period that a person is employed in a position covered by a related system, that employee is ineligible to receive a refund of accumulated contributions from any related system in which that employee has service credits and accumulated contributions standing in his or her account. Accumulated contributions may only be refunded when the employee terminates all employment covered by a related system and does not have, in the aggregate, sufficient years of credited service to be eligible for an age and service benefit from any of the related systems.
Acts 1987, No. 357, § 4; 1993, No. 873, § 1; 1997, No. 485, § 8; 1997, No. 1011, § 1; 1997, No. 1024, § 1; 1999, No. 537, § 6; 1999, No. 1070, §§ 1-3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-506 - Other local police and fire service

(a)
An active member of the Arkansas Local Police and Fire Retirement System shall be entitled to purchase credited service in the system equivalent to a period not to exceed fifteen (15) years if the member:
(1)
(A)
Has at least five (5) years of actual service with the system.
(B)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section;
(2)
(A)
Had service:
(i)
With a local government covered by a municipal policemen's pension and relief fund under §
24-11-401
et seq. or a municipal firemen's relief and pension fund under §
24-11-801
et seq.; or
(ii)
(a)
As a public safety officer or law enforcement officer in an agency for which the service as a public safety officer or law enforcement officer was not covered by the system.
(b)
As used in this section, "service as a public safety officer" includes paid service with a municipality that has police officers or firefighters covered under a policemen's pension and relief fund or a firemen's relief and pension fund where the member performed services as a cadet.
(B)
Service that is or will be eligible for benefit payment from another plan shall not be eligible for purchase under the system; and
(3)
Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased. This actuarial equivalent would be as of the time of the purchase of credited service and would be determined by the actuary to the system.
(b)
The Board of Trustees of the Arkansas Local Police and Fire Retirement System may make the final determination as to:
(1)
The length of purchased service credit;
(2)
The amount of regular interest to be charged; and
(3)
The manner in which payment will be made to the system.
(c)
Service credit purchased under this section may be used to determine the member's total credited service for the amount upon retirement and shall not be used to determine his or her final average pay for service under the system.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 2, eff. 4/11/2013.
Acts 1993, No. 1084, § 1; 1997, No. 1352, § 1; 1999, No. 1455, § 1; 2007, No. 1057, § 1; 2011, No. 167, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-507 - Reciprocal system

(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.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-508 - Service credit

(a)
An active member of the Arkansas Local Police and Fire Retirement System who has at least five (5) years of actual service and who has service in an Arkansas law enforcement agency or fire department and who has been employed as a public safety or law enforcement officer in any agency not covered by the system or any other system that is reciprocal to the system shall receive credited service for that service.
(b)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible under this section.
(c)
No additional service credit shall be credited under this section on or after April 1, 2019.
Amended by Act 2019, No. 178,§ 3, eff. 3/31/2019.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 3, eff. 4/11/2013.
Acts 1999, No. 716, § 1; 2005, No. 1418, § 1; 2011, No. 17, § 5.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-509 - Service credit not years of service

Service credit granted under §
24-10-508
shall not be considered as years of service for the purpose of benefit calculation.
Acts 1999, No. 716, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 5 - CREDITED SERVICE (§§ 24-10-501 — 24-10-510) › Section 24-10-510 - Service credit for former military personnel

(a)
An active member of the Arkansas Local Police and Fire Retirement System may purchase credited service in the system equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member's employment covered by the system, if the member:
(1)
Received an honorable discharge from the armed forces;
(2)
(A)
Has at least five (5) years of actual service in the system.
(B)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for purchase under this section; and
(3)
(A)
Contributes to the system an amount that is the actuarial equivalent of the value of the credited service to be purchased.
(B)
The actuarial equivalent is of the time of the purchase of the credited service and shall be determined by the actuary for the system.
(b)
The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall make the final determination as to the:
(1)
Length of purchased service credit;
(2)
Amount of regular interest to be charged; and
(3)
Manner in which payment is made to the system.
(c)
Service credit purchased under this section shall be used to determine the member's total credited service under the system but shall not be used to determine his or her final average pay under the system.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 4, eff. 4/11/2013.
Acts 1999, No. 883, § 1; 2003, No. 474, § 2; 2003, No. 478, § 1; 2003, No. 1473, § 71; 2009, No. 257, § 1; 2011, No. 91, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-601 - Generally

No benefit shall be paid by the Arkansas Local Police and Fire Retirement System based upon pay which is covered by any other retirement plan, except Social Security.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-604 - Voluntary retirement

(a)
(1)
A member in covered employment may retire with an annuity provided for in §
24-10-602
upon his or her written application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System setting forth at what time, at least thirty (30) days but not more than ninety (90) days subsequent to the execution and filing of his or her application, he or she desires to be retired, but only if, at the time of his or her separation from employment and at the time so specified for his or her retirement, the member shall have attained his or her normal retirement age and have five (5) years of credited service in force.
(2)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible under this section.
(b)
He or she shall have the right to elect an option provided for in §
24-10-603
.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 5, eff. 4/11/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1997, No. 1136, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-605 - Compulsory retirement

(a)
A member's employer shall determine the compulsory separation age for its employees.
(b)
Upon his or her separation from his or her last covered employment, a member with five (5) or more years of credited service in force who has attained his or her normal retirement age shall receive an annuity provided for in §
24-10-602
and shall have the right to elect an option provided for in §
24-10-603
.
(c)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual credited service in order to be eligible under this section.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 6, eff. 4/11/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1997, No. 1136, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-606 - Early retirement

(a)
An active member in covered employment who has not attained his or her normal retirement age may retire with an early annuity as provided in this section upon his or her proper application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System setting forth at what time, not less than thirty (30) days nor more than ninety (90) days subsequent to the execution and filing of his or her application, he or she desires to be retired, but only if, at the time of his or her separation from employment and at the time so specified for his or her retirement, the member has:
(1)
Attained age fifty (50) and has twenty (20) years of credited service in force; or
(2)
Twenty-five (25) years of actual credited paid service in the Arkansas Local Police and Fire Retirement System at any age.
(b)
He or she shall have the right to elect an option provided for in §
24-10-603
.
(c)
(1)
Upon early retirement, a member shall receive a certain percent of an annuity for life as provided for in §
24-10-602
.
(2)
The percent shall be one hundred percent (100%) reduced by one-half of one percent (0.5%) multiplied by the number of months by which his or her age at early retirement is less than his or her normal retirement age.
Amended by Act 2013, No. 40,§ 9, eff. 2/6/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 2009, No. 1317, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-610 - Limitations on death and disability annuities

If a death annuity is payable on behalf of a member who dies in employer service before retirement, or for the portion of a disability annuity payable before a disability retirant's attainment of age fifty-five (55), the total amount of the system annuities based on paid service shall not exceed one hundred percent (100%) of the amount of his or her final average pay at the time of death or disability.
Amended by Act 2013, No. 40,§ 11, eff. 2/6/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1993, No. 1202, § 1; 1995, No. 643, § 2; 1997, No. 765, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-611 - Termination of covered employment

(a)
A member who terminates covered employment before attaining his or her normal retirement age, for a reason other than death, early retirement, or disability retirement, shall be entitled to an annuity computed in accordance with the provisions of this section, as it provides at the time of the last termination of covered employment, subject to the member's satisfying all of the following conditions:
(1)
(A)
The member has five (5) years of credited service.
(B)
A member hired on or after July 1, 2013, shall accrue ten (10) years of actual service in order to be eligible for retirement;
(2)
The member lives to his or her annuity starting date;
(3)
The member makes proper application for retirement and payment of the annuity to the Arkansas Local Police and Fire Retirement System not less than thirty (30) days nor more than ninety (90) days before the date he or she attains his or her normal retirement age; and
(4)
The annuity starting date shall be the first day of the calendar month next following the later of:
(A)
The date the member attains his or her normal retirement age; and
(B)
The date the proper application is received by the system.
(b)
(1)
The monthly amount of a vested termination annuity shall be computed in the same manner as a normal annuity amount provided for in §
24-10-602
, but based upon his or her credited service and final average pay at the time of termination of covered employment.
(2)
If the effective date of the annuity is at least twelve (12) full months after termination, an amount of final average pay usable for the purposes of this section shall be redetermined.
(3)
(A)
The redetermined amount shall be the amount of final average pay at the time of termination of covered employment increased by one-half (½) of any percentage increase in the inflation index for the period from three (3) months immediately preceding the termination to three (3) months immediately preceding the annuity effective date.
(B)
For an annuity with an effective date that is on or after July 1, 2019, the pay used for the annuity computation shall be the final average pay at the time of termination from paid service employment with the system.
(4)
He or she shall have the right to elect an option provided for in §
24-10-603
.
Amended by Act 2019, No. 178,§ 8, eff. 3/31/2019.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 10, eff. 4/11/2013.
Amended by Act 2013, No. 40,§ 12, eff. 2/6/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1997, No. 1136, § 3; 1999, No. 1070, § 5; 2007, No. 294, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-612 - Redetermination of benefits

(a)
Beginning with the July 1 that is at least twelve (12) full months after the effective date of a monthly benefit, the amount of the benefit shall be redetermined effective each July 1, and the redetermined amount shall be payable for the ensuing year.
(b)
The redetermined amount shall be the amount of the benefit as of the immediately preceding July 1 increased by three percent (3%).
(c)
(1)
Effective July 1, 2009, there will be a one-time redetermination of benefits for paid service members who were receiving a benefit on or before June 30, 2009.
(2)
The paid service retirants will receive a benefit beginning July 1, 2009, which is the greater of:
(A)
The benefit calculated under §
24-10-602
, as in effect on July 1, 2009, using the member's final average salary at retirement; or
(B)
The monthly benefit that otherwise would be paid on July 1, 2009, under this section.
(3)
The redetermination under subdivisions (c)(1) and (2) of this section is applicable to all paid service members or their beneficiaries receiving benefits under this subchapter.
(4)
The Arkansas Local Police and Fire Retirement System shall not make any benefit payments retroactive to a date before July 1, 2009.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; Acts 1995, No. 1267, § 1; 1997, No. 289, § 1; 2003, No. 475, § 1; 2009, No. 720, § 5; 2009, No. 1316, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 11, eff. 4/11/2013.
Amended by Act 2013, No. 40,§ 13, eff. 2/6/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805; 1999, No. 1070, § 4.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Amended by Act 2013, No. 40,§ 14, eff. 2/6/2013.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 24-10-616 - Subjection of benefit rights to legal process

(a)
(1)
Except as otherwise provided in this chapter, 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 this chapter, and all moneys belonging to a plan:
(A)
Are not subject to:
(i)
Execution;
(ii)
Garnishment;
(iii)
Attachment;
(iv)
The operation of bankruptcy or insolvency laws; or
(v)
Any claim or process of law; and
(B)
Are unassignable.
(2)
However, an employer shall have the right of setoff for any claim arising from embezzlement by, or fraud of, a member, retirant, or beneficiary.
(b)
A final administrative decision of the Board of Trustees of the Arkansas Local Police and Fire Retirement System may be appealed by filing a complaint in Pulaski County Circuit Court.
Amended by Act 2021, No. 374,§ 2, eff. 4/1/2021.
Acts 1981, No. 364, § 5; A.S.A. 1947, § 12-3805.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Acts 1997, No. 695, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Acts 1997, No. 765, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Acts 1997, No. 1136, § 4.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 6 - BENEFITS (§§ 24-10-601 — 24-10-620) › Section 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.
Acts 2011, No. 17, § 6.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Amended by Act 2015, No. 829,§ 1, eff. 7/22/2015.
Amended by Act 2013, No. 40,§ 15, eff. 2/6/2013.
Acts 2003, No. 1734, § 1; 2005, No. 871, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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
.
Amended by Act 2015, No. 829,§ 2, eff. 7/22/2015.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Acts 2003, No. 1734, § 1; 2005, No. 871, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 12, eff. 7/1/2013.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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 ten (10) 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)
(A)
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 April 1 of the year following the calendar year in which the participant attains the applicable age.
(B)
In the case of a participant who attains seventy-two (72) years of age after December 31, 2022, and seventy-three (73) years of age before January 1, 2033, the applicable age is seventy-three (73) years of age.
(C)
In the case of a participant who attains seventy-four (74) years of age after December 31, 2032, the applicable age is seventy-five (75) years of age.
Amended by Act 2023, No. 44,§ 1, eff. 8/1/2023.
Amended by Act 2023, No. 458,§ 1, eff. 4/1/2023.
Amended by Act 2021, No. 374,§ 3, eff. 4/1/2021.
Amended by Act 2017, No. 608,§ 1, eff. 8/1/2017.
Amended by Act 2013, No. 1444,§ 1, eff. 4/22/2013.
Amended by Act 2013, No. 1065,§ 13, eff. 4/11/2013.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Amended by Act 2013, No. 40,§ 16, eff. 2/6/2013.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 10 - ARKANSAS LOCAL POLICE AND FIRE RETIREMENT SYSTEM (§§ 24-10-101 — 24-10-709) › Subchapter 7 - LOCAL POLICE AND FIRE DEFERRED RETIREMENT OPTION PLAN (§§ 24-10-701 — 24-10-709) › Section 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.
Amended by Act 2013, No. 40,§ 17, eff. 2/6/2013.
Acts 2003, No. 1734, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 11 - LOCAL POLICE AND FIRE PENSION AND RELIEF FUNDS (§§ 24-11-101 — 24-11-834) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-11-101 — 24-11-105) › Section 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.
Acts 1979, No. 839, § 3; 1981, No. 283, § 3; A.S.A. 1947, § 19-2232.