reglab/statecodes huggingface dataset:
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-614 - Increase in monthly benefit amount - 1993

(a)
On July 1, 1993, the monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Public Employees' Retirement System who retired on June 1, 1993, or before, shall be increased by two and sixty-one hundredths percent (2.61%) of the benefit payable on June 1, 1993.
(b)
The increase in benefits provided in subsection (a) of this section shall be added to the monthly benefit after application of the annual postretirement increase, which is based on the consumer price index.
Acts 1993, No. 938, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-615 - Maximum benefit limitation

(a)
Notwithstanding any other provision of this chapter, benefits paid under the provisions of this chapter shall not exceed the limitations of the Internal Revenue Code,
26 U.S.C. § 415
, that are applicable to governmental retirement plans.
(b)
(1)
The Board of Trustees of the Arkansas Public Employees' Retirement System is hereby empowered and authorized to promulgate all necessary rules to implement the limitations of the Internal Revenue Code,
26 U.S.C. § 415
.
(2)
The rules adopted by the board pursuant to this section shall be amended to reflect any changes in the content or application of the Internal Revenue Code,
26 U.S.C. § 415
, enacted by the United States Congress or promulgated by the Internal Revenue Service.
Amended by Act 2019, No. 315,§ 2859, eff. 7/24/2019.
Acts 1995, No. 738, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-616 - Increase in monthly benefit amount - 1995

On July 1, 1995, the monthly benefit payable to retirants and beneficiaries of the Arkansas Public Employees' Retirement System who retired on June 1, 1995, or before, shall be increased by six and forty-five-hundredths percent (6.45%) of the benefit payable on June 1, 1995.
Acts 1995, No. 630, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-617 - Increase in monthly benefit amount - 1997

On July 1, 1997, the monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Public Employees' Retirement System who retired on or before June 1, 1997, shall be increased by three percent (3%) of the benefit payable on June 1, 1997.
Acts 1997, No. 318, § 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-618 - Increased benefits for persons retired before July 1, 1999

On July 1, 1999, and thereafter, the monthly benefit payable to the retirants and the beneficiaries of retirants of the Arkansas Public Employees' Retirement System who retired before July 1, 1989, shall be increased by an amount equal to one percent (1%) of the benefit payable on June 1, 1999, for each year or portion of a year of retirement prior to July 1, 1989.
Acts 1999, No. 496, § 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-619 - Increased benefits for persons retired before June 1, 1999

In addition to the monthly retirement benefit increase provided in §
24-4-618
, each retirant and beneficiary of a retirant of the Arkansas Public Employees' Retirement System who retired on or before June 1, 1999, shall receive an increase in his or her monthly benefit of fifty dollars ($50.00).
Acts 1999, No. 496, § 4.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-620 - Partial annuity withdrawal provision

(a)
Any member who does not terminate employment and retire on the date that member meets the age and service requirements of §
24-4-508
for an unreduced annuity and has not elected to participate in the Deferred Retirement Option Plan as provided in §
24-4-801
et seq. may elect at the time of retirement to participate in the Arkansas Public Employees' Retirement Partial Annuity Withdrawal Program.
(b)
A member electing to participate shall be eligible to receive, at the time of retirement, 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. The lump sum shall not exceed an amount equal to sixty (60) months of benefits.
(c)
A member electing to participate shall have his or her lifetime annuity reduced by an actuarially determined equivalent in accordance with rules adopted by the Board of Trustees of the Arkansas Public Employees' Retirement System.
Amended by Act 2019, No. 315,§ 2860, eff. 7/24/2019.
Acts 2001, No. 357, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-621 - Increase in benefits

(a)
On July 1, 2001, the monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Public Employees' Retirement System who retired on or before June 1, 2001, shall be increased by one and seven-tenths percent (1.7%) of the benefit payable on June 1, 2001.
(b)
The increase in benefits provided in subsection (a) of this section shall be added to the monthly benefit after the annual postretirement increase.
Acts 2001, No. 355, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 6 - BENEFITS (§§ 24-4-601 — 24-4-623) › Section 24-4-622 - Monthly benefit increase

(a)
On July 1, 2007, the monthly retirement benefit payable to retirants and beneficiaries of the Arkansas Public Employees' Retirement System who retired on or before June 1, 2007, shall be increased by one percent (1%) of the benefit payable on June 1, 2007.
(b)
The increase in benefits under subsection (a) of this section shall be added to the monthly benefit after the annual postretirement increase.
Acts 2007, No. 1568, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-704 - [Repealed]

Repealed by Act 2019, No. 448,§ 3, eff. 3/13/2019.
Acts 1975, No. 313, § 2; A.S.A. 1947, § 12-2510.10; Acts 2001, No. 151, § 34.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-705 - [Repealed]

Repealed by Act 2019, No. 448,§ 4, eff. 3/13/2019.
Acts 1971, No. 103, § 4; 1971, No. 305, § 1; 1973, No. 396, § 1; 1973, No. 665, § 1; A.S.A. 1947, § 12-2510.6; Acts 2001, No. 151, § 35.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-706 - [Repealed]

Repealed by Act 2019, No. 448,§ 5, eff. 3/13/2019.
Acts 1971, No. 103, § 5; 1971, No. 305, § 2; 1973, No. 254, § 1; 1973, No. 666, § 1; 1975, No. 907, § 9; 1979, No. 715, § 5; 1981, No. 859, § 7; A.S.A. 1947, § 12-2511.1; Acts 2001, No. 151, § 36; 2003, No. 1473, § 56.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-707 - [Repealed]

Repealed by Act 2019, No. 448,§ 6, eff. 3/13/2019.
Acts 1961, No. 193, § 1; A.S.A. 1947, § 12-2510.1; Acts 2001, No. 151, § 37.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-710 - [Repealed]

Repealed by Act 2019, No. 448,§ 7, eff. 3/13/2019.
Acts 1981, No. 412, § 1; 1981, No. 491, § 1; A.S.A. 1947, § 12-2580; Acts 1999, No. 627, § 3; 2001, No. 151, § 38.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-712 - [Repealed]

Repealed by Act 2019, No. 448,§ 8, eff. 3/13/2019.
Acts 1973, No. 447, §§ 1-3; 1975, No. 286, § 1; A.S.A. 1947, §§ 12-319 -- 12-321; Acts 2001, No. 151, § 39.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-714 - [Repealed]

Repealed by Act 2019, No. 448,§ 9, eff. 3/13/2019.
Acts 1971, No. 103, § 6; 1971, No. 305, § 3; 1973, No. 754, § 1; 1975 (Extended Sess., 1976), No. 1206, § 1; A.S.A. 1947, § 12-2511.2; reen. Acts 1987, No. 1004, § 1; 2001, No. 151, § 40.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-724 - Members joining after employer - Current service credit

(a)
(1)
(A)
Any member of the Arkansas Public Employees' Retirement System who became, or becomes, a member after the date that his or her employer became, or becomes, a public employer in the system shall receive current service for employment with a public employer in the system or with a municipality in the State of Arkansas if the employee was not eligible for coverage or does not participate in or is not eligible to receive a benefit from a retirement plan authorized by a municipality in the State of Arkansas and by the laws of the State of Arkansas during employment.
(B)
He or she shall receive credit only if he or she has at least five (5) years of current service credit since becoming a member of the system and he or she pays, or causes to be paid, all employee contributions at the rate and on the compensation that would have been paid had he or she been a member during that time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.
(2)
As used in this subsection, employment by a municipality in the State of Arkansas shall include the mayor, city attorney, city treasurer, city clerk, clerk-treasurer, municipal judge, municipal court clerk, and any other city employee.
(b)
The compensation to be used in computing the payments shall be the compensation on which contributions would have been made had the person been a member of the system during the time for which current service credit is purchased.
(c)
The payment shall be made in a lump sum.
(d)
The member may pay for all his or her prior and interim current service or a portion thereof consisting of multiples of one (1) year.
Amended by Act 2013, No. 337,§ 5, eff. 7/1/2013.
Acts 1973, No. 187, § 4; 1975, No. 907, § 5; 1985, No. 938, § 16; A.S.A. 1947, § 12-2549.5; Acts 1987, No. 327, § 3; 1993, No. 432, § 11; 1997, No. 299, § 22.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-726 - [Repealed]

Amended by Act 2019, No. 315,§ 2861, eff. 7/24/2019.
Repealed by Act 2019, No. 448,§ 10, eff. 3/13/2019.
Amended by Act 2019, No. 910,§ 1020, eff. 7/1/2019.
Amended by Act 2019, No. 910,§ 1019, eff. 7/1/2019.
Acts 1965 (2nd Ex. Sess.), No. 12, §§ 1-3, 5, 7, 8; A.S.A. 1947, §§ 12-2555 -- 12-2557, 12-2559, 12-2561, 12-2562.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-729 - Conservation district employees

(a)
The Board of Trustees of the Arkansas Public Employees' Retirement System is directed to include within the membership of the Arkansas Public Employees' Retirement System, as created by this chapter, all employees of conservation districts organized and operating under the provisions of this chapter.
(b)
(1)
(A)
The effective date of membership of the employees in the system shall be July 1, 1973.
(B)
The employees enrolled in the system shall be subject to the rights, privileges, and limitations prescribed in this chapter.
(2)
Every such employee shall become a member of the system as a condition of continuing or obtaining employment with any conservation district.
(c)
Any employee included within the membership of the system pursuant to this section shall be given credit for service rendered prior to July 1, 1957, as an employee of a public employer, as defined in §
24-4-101
, or as an employee of a conservation district organized and operating under this chapter, if the employee was so employed on July 1, 1957, and on July 1, 1973.
(d)
(1)
(A)
Any employee included within the membership of the system by this section who is an employee of a conservation district on July 1, 1973, may apply for and receive current service credit for service rendered as an employee of a public employer, as defined in §
24-4-101
, or as an employee of a conservation district from July 1, 1957, to July 1, 1973.
(B)
The employee shall receive credit only if the employee pays or causes to be paid to the Arkansas Public Employees' Retirement System Fund all necessary contributions, at the rate of four percent (4%) for the employee and four percent (4%) for the employer from July 1, 1957, to July 1, 1967, four percent (4%) for the employee and five percent (5%) for the employer from July 1, 1967, to July 1, 1969, and five percent (5%) for the employee and seven percent (7%) for the employer from July 1, 1969, to July 1, 1973, that would have been paid had the employee been a member of the system during that time.
(2)
Interest at the rate of four percent (4%) per annum compounded annually from July 1, 1957, shall be paid on all contributions, which shall be paid in full on or before July 1, 1974.
(e)
Each conservation district shall pay into the fund such sums of money as are necessary to match the contributions of its employees in the same form and manner as other public employers and shall be subject to all the provisions of this chapter, to the same extent as other public employers.
Acts 1973, No. 666, §§ 7-11; A.S.A. 1947, §§ 12-2575 -- 12-2575.4; Acts 2001, No. 151, § 42.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-737 - Certain city attorneys - Credited service

(a)
When the term of office of an elected city attorney is cut short due to the change in the form of city government and that person is employed to serve as the city attorney for the remainder of his or her term, he or she shall receive credited service under the Arkansas Public Employees' Retirement System for the remainder of his or her term, or portion thereof, that he or she is employed as the city attorney, to the same extent as if he or she were an elected city attorney instead of an employed city attorney.
(b)
The provisions of this section shall be retroactive to January 1, 1986.
Acts 1987, No. 975, §§ 1, 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-740 - Transfer of Director of the Administrative Office of Courts to Arkansas Public Employees' Retirement System

(a)
Effective July 1, 1993, the Director of the Administrative Office of the Courts shall cease to be a member of the Arkansas Judicial Retirement System. At that time, the director shall become a member of the Arkansas Public Employees' Retirement System.
(b)
(1)
(A)
The retirement and survivors' benefit to be received by the director occupying the position on July 1, 1993, shall not be less than that which he or she would have received under the provisions of §
24-8-218
, including any increases after retirement, had he or she remained in the Arkansas Judicial Retirement System.
(B)
Provided, further, he or she shall meet the eligibility requirements of §
24-8-215
and §
24-8-218
in order to receive the retirement and survivors' benefits provided under §
24-8-218
and shall meet the requirements of §
24-8-217
in order to receive the disability benefits provided under §
24-8-218
.
(2)
(A)
The State of Arkansas, as employer, shall contribute to the Arkansas Public Employees' Retirement System twelve percent (12%) of the salary amount of the director occupying the position on July 1, 1993.
(B)
The director occupying the position on July 1, 1993, shall contribute six percent (6%) of his or her pay until such time as he or she is eligible for retirement under the provisions of §
24-8-215
.
(C)
Provided, further, all contributions made to the Arkansas Judicial Retirement System by the employer on behalf of the director occupying the position on July 1, 1993, and all contributions made by the director, shall be transferred to the Arkansas Public Employees' Retirement System.
(D)
In the event the director ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to a refund of all contributions paid into the system by the director.
(c)
The retirement benefit to be received by any new person occupying the position of director after July 1, 1993, shall be based upon the regular annuity and benefit provisions for the Arkansas Public Employees' Retirement System. The contributions to be made by the employer shall be the same as those required for the State Division of the Arkansas Public Employees' Retirement System. The person occupying the position thereafter shall not make contributions to the system.
Acts 1993, No. 944, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-741 - [Repealed]

Repealed by Act 2019, No. 448,§ 11, eff. 3/13/2019.
Acts 1993, No. 1229, § 1; 2001, No. 151, § 45.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-742 - Credit for service with various local units of government

(a)
Any full-time employee of a public facilities board, rural waterworks facilities board, regional solid waste management board, joint county and municipal sanitation authority, regional water distribution board, public rehabilitation services corporation, or other local unit of government enrolled in the Arkansas Public Employees' Retirement System pursuant to this act who is a full-time employee of a participating public facilities board, regional solid waste management board, joint county and municipal sanitation authority, regional water distribution board, public rehabilitation services corporation, or other local unit of government in this state on the date his or her employer became, or becomes, a public employer in the system may apply for and receive current service credit for service rendered as a full-time employee of the public facilities board, regional solid waste management board, joint county and municipal sanitation authority, regional water distribution board, public rehabilitation services corporation, or other local unit of government.
(b)
The employee shall receive credit only if the employee or employer pays or causes to be paid to the Arkansas Public Employees' Retirement System Fund all necessary employee contributions at the rate and on the compensation that would have been paid had he or she been a member during that time, all employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time, and regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.
(c)
The employer's contributions and employees' contributions, if applicable, shall be transmitted to the system in the form and manner, together with the supporting data, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall prescribe from time to time.
(d)
The governing body of any public facilities board, rural waterworks facilities board, regional solid waste management board, joint county and municipal sanitation authority, regional water distribution board, public rehabilitation services corporation, or other local unit of government electing to include the full-time employees of the board within the membership of the system may pay the employer contributions and employee contributions, if applicable, on behalf of employees for services rendered.
Acts 1995, No. 398, § 5; 1995, No. 1292, § 5; 1997, No. 299, § 23; 2001, No. 151, § 46.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-743 - Intergovernmental Juvenile Detention Council employees

(a)
(1)
Any full-time employee of the Intergovernmental Juvenile Detention Council of the Tenth Judicial District enrolled in the Arkansas Public Employees' Retirement System pursuant to this section who is a full-time employee of the council on the date his or her employer becomes a public employer in the system, may apply for and receive current service credit for service rendered as a full-time employee of the council.
(2)
The employee shall receive credit only if the employee or employer pays, or causes to be paid, to the Arkansas Public Employees' Retirement System Fund all necessary employer contributions and employee contributions, if applicable, that would have been paid had the employee been a member of the system during that time, plus interest thereon at the rate directed by the Board of Trustees of the Arkansas Public Employees' Retirement System.
(3)
The employer's contributions and employees' contributions, if applicable, shall be transmitted to the system in the form and manner, together with the supporting data, as the board shall prescribe from time to time.
(b)
The council electing to include the full-time employees of the board within the membership of the system may pay the employer contributions and employee contributions, if applicable, on behalf of employees for services rendered.
Acts 1997, No. 76, § 6.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-744 - Elected county official

For the purpose of determining benefits under the Arkansas Public Employees' Retirement System, a member of the system who has service as an elected county official for a period during which the office was under the fee system, the salary of the member during that period shall be deemed to be the average salary for county officials in the same office in this state on July 1, 1997.
Acts 1997, No. 299, § 27.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-745 - General Assembly employees

(a)
An employee of the General Assembly who has at least five (5) years' service in the Arkansas Public Employees' Retirement System and who served at least four hundred (400) days as a session employee of the General Assembly may apply for and receive current service credit in the system for service rendered as a session employee.
(b)
The employee shall receive credit only if the employee or employer pays or causes to be paid to the Arkansas Public Employees' Retirement System Fund:
(1)
All necessary employee contributions at the rate and on the compensation that would have been paid had he or she been a member during that time;
(2)
All employer contributions based on the employer normal cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had he or she been a member during that time; and
(3)
Regular interest on the employee and employer contributions computed from the date the service was rendered to the date the payment is received by the system.
(c)
The employer's contributions and employees' contributions, if applicable, shall be transmitted to the system in the form and manner, together with the supporting data, as the Board of Trustees of the Arkansas Public Employees' Retirement System shall prescribe from time to time.
(d)
The employer may pay the employer contributions and employee contributions, if applicable, on behalf of the employee for services rendered.
Acts 1999, No. 325, § 12.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-746 - Authority to promulgate rules

The Board of Trustees of the Arkansas Public Employees' Retirement System shall have the authority to promulgate such rules as are necessary to provide for the participation of employers defined as public rehabilitative services corporations or other local units of government under the provisions of §
4-34-101
and such local units of government as are provided for under this Code. Provided, however, the board shall not admit or retain any employer whose participation in the Arkansas Public Employees' Retirement System would jeopardize the tax-qualified status of the plan under the Internal Revenue Code,
26 U.S.C. § 1
et seq., or that would subject the plan to additional federal requirements, or to any other consequence that the board would determine to be detrimental to the system.
Amended by Act 2019, No. 315,§ 2862, eff. 7/24/2019.
Acts 1999, No. 865, § 2; 2001, No. 151, § 47.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-747 - Erroneous membership of certain employees

(a)
A person who was erroneously included in the Arkansas Public Employees' Retirement System for at least two (2) years and whose disqualification from the Arkansas Public Employees' Retirement System was due to employment that caused the person to be a member of another state-supported or state-authorized retirement system may elect to restore service credit lost as a result of the erroneous dual coverage if:
(1)
The person is a member of the Arkansas Public Employees' Retirement System at the time of applying to restore the lost credited service;
(2)
The person applies to restore the lost service credit within two (2) years after the Arkansas Public Employees' Retirement System refunded contributions; and
(3)
Any contributions and interest that were refunded by the Arkansas Public Employees' Retirement System are repaid, along with any interest accruing from the date of the refunding until the funds are actually repaid to the Arkansas Public Employees' Retirement System.
(b)
A person who elects to restore credited service under this section shall not be entitled to receive credited service in the other state-supported retirement system for the same period. The other system shall refund contributions paid for the period plus reasonable interest on the contributions at the rate determined by the board of trustees of the other system.
Acts 1999, No. 1010, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-748 - Dual full-time employment

(a)
A person who was included in the Arkansas Public Employees' Retirement System for service at full-time employment while at the same time employed full time in another position covered under a municipal police pension and relief fund and whose disqualification from the system was due to dual coverage as a member of a municipal police pension and relief fund may receive service credit as a result of the dual coverage if:
(1)
After the initial full-time employment when service credit was lost, the person again becomes a member of the system;
(2)
The person applies to receive the lost service credit within five (5) years after the reemployment under the system; and
(3)
(A)
The member pays or causes to be paid:
(i)
The employee contributions at the rate of compensation that would have been paid as a system member during that time;
(ii)
Employer contributions based on the normal employer cost from the most recently completed regular annual actuarial valuation and the compensation that would have been paid had the person been a member during that time; and
(iii)
(a)
Regular interest on the employee and employer contributions.
(b)
Interest shall be computed from the date the service was rendered to the date the payment is received by the system.
(B)
The member may purchase all of the service or any portion thereof in multiples of one (1) year.
(b)
A person who elects to restore credited service under this section shall be limited to receiving credited service in the system for up to five (5) years of the initial dual full-time employment.
(c)
The Board of Trustees of the Arkansas Public Employees' Retirement System shall have the authority to promulgate any necessary forms for application to restore the service and reasonable rules to implement this section.
Amended by Act 2019, No. 315,§ 2863, eff. 7/24/2019.
Acts 2001, No. 1614, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-749 - Purchase of out-of-state governmental service

(a)
A member who has performed service other than military service as an employee of a state or local governmental entity in the United States other than in the State of Arkansas or the United States Government may receive credited service for the out-of-state governmental employment if:
(1)
The member has at least five (5) years of credited service at the time of application;
(2)
The number of years of out-of-state governmental employment applied for does not exceed five (5) years;
(3)
At the time of application the member furnishes evidence of the out-of-state service that is acceptable to the Arkansas Public Employees' Retirement System; and
(4)
The member pays to the member's deposit fund an amount equal to the actuarial present value of the credited service applied for under this section based upon assumptions recommended by the actuary.
(b)
A member may not receive the credited service provided for in this section if the service is also used for the purpose of establishing entitlement to, or the amount of, any other benefit to be paid by any federal, state, or local government entity except a benefit under the Social Security Act,
42 U.S.C. § 301
et seq.
(c)
The service credit provided for in this section is subject to any applicable limits under the Internal Revenue Code,
26 U.S.C. § 1
et seq.
Amended by Act 2013, No. 332,§ 11, eff. 3/14/2013.
Acts 2005, No. 1021, § 1; 2007, No. 1570, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-750 - Arkansas District Judge Retirement System abolished - Powers, duties, and plan liabilities transferred to Arkansas Public Employees' Retirement System

(a)
The Arkansas District Judge Retirement System, established by §
24-8-801
et seq. [repealed], is abolished, and its powers, duties, and plan liabilities are transferred to the Arkansas Public Employees' Retirement System by a type 3 transfer as prescribed in §
25-2-106
.
(b)
For purposes of this act, the Arkansas Public Employees' Retirement System shall be considered a principal department established by Acts 1971, No. 38.
(c)
(1)
The Arkansas Public Employees' Retirement System shall maintain the same process of payments under §
24-4-751
.
(2)
Active members of the Arkansas District Judge Retirement System on the date of the transfer shall continue to accrue the same program of benefits received before the transfer.
(3)
As employer, the government entity that pays the salary of a district judge shall make contributions to the Arkansas Public Employees' Retirement System as a percent of the salary of the active district judge at the rate previously established to fund the district judge benefit program unless the Arkansas Public Employees' Retirement System's actuary determines that a different required contribution rate should be applied.
(d)
Each district judge joining the Arkansas Public Employees' Retirement System after the date of transfer shall be deemed an elected official of a city or county and shall receive service credit under §
24-4-101(16)(B)
.
Acts 2007, No. 177, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-751 - Additional funding for retirement benefits

(a)
The government entity that had previously established a local municipal judge's retirement fund shall be required to contribute an amount of money that represents the actuarially determined accrued liability for those judges and former judges who were covered by the local fund on December 31, 2004.
(b)
The assets in the local municipal judge retirement fund, not to exceed the amount in subsection (a) of this section, shall be paid to the Arkansas Public Employees' Retirement System on January 1, 2008.
(c)
If the local municipal judge retirement fund does not have sufficient money available to pay the amount determined in subsection (a) of this section to the system on January 1, 2008, then the remaining amount of actuarially determined accrued liability shall be paid on or before December 31 each year after for up to the next thirty (30) years based on a thirty-year amortization period.
(d)
(1)
If the amount in the municipal judge 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 sponsoring government entity for the sole purpose of paying the retirement benefits of district judges.
(2)
If at any time in the future an obligation to fund the system no longer exists, then any excess shall be retained by the sponsoring government entity.
(e)
(1)
The accrued benefit used to determine the accrued liability under this section shall be determined by:
(A)
Calculating the benefit that the judge would be eligible to receive on December 31, 2004, as provided by law before July 16, 2003, if the judge was eligible to begin receiving benefits on January 1, 2005; and
(B)
Multiplying the amount in subdivision (e)(1)(A) of this section by the number of years of eligible service and then dividing by the greater of either the number of years of service needed to be eligible to retire or the current years of eligible service.
(2)
The service years shall be determined under the law before January 1, 2005.
(f)
The accrued benefit determined under subsection (e) of this section for any retiree or surviving spouse who is receiving benefits on December 31, 2004, shall be the amount that he or she is receiving or entitled to receive on that date.
Acts 2007, No. 177, § 10.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 7 - PROVISIONS APPLICABLE TO PARTICULAR EMPLOYEES (§§ 24-4-701 — 24-4-752) › Section 24-4-752 - State Police Trust Fund

(a)
All assets of the State Police Retirement System are transferred to the Arkansas Public Employees' Retirement System to hold in trust for the State Police Retirement System.
(b)
There is created under the Arkansas Public Employees' Retirement System a division that shall be known as the "State Police Trust Fund".
(c)
(1)
The State Police Trust Fund shall not be treated as segregated funds but shall be commingled with the assets of the Arkansas Public Employees' Retirement System strictly for investment purposes.
(2)
The assets shall be managed solely for the benefit of the retirees and beneficiaries of the State Police Retirement System and shall not be divested from the Arkansas Public Employees' Retirement System unless it can clearly be demonstrated it would be actuarially and fiscally prudent to do so.
(d)
(1)
As employer, the Division of Arkansas State Police shall make contributions to the State Police Trust Fund based on a percentage of each active state police officer's salary at the rate established to fund the State Police Retirement System's benefit program before July 1, 2009.
(2)
All other sources of revenue commonly accruing to the State Police Retirement System shall be payable to the State Police Trust Fund.
(e)
The Board of Trustees of the State Police Retirement System, the Board of Trustees of the Arkansas Public Employees' Retirement System, and administrative staff shall be immune from any suit or action based in whole or in part on the transfer of assets contemplated by this act.
Acts 2009, No. 1242, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 8 - DEFERRED RETIREMENT OPTION PLAN (§§ 24-4-801 — 24-4-806) › Section 24-4-801 - Participation

(a)
In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees' Retirement System pursuant to §
24-2-201
et seq. and §
24-4-101
et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan and to defer the receipt of retirement benefits in accordance with the provisions of this subchapter.
(b)
The conditions required for full participation in the plan are that the member must have at least thirty (30) years of actual service in the system.
(c)
The Board of Trustees of the Arkansas Public Employees' Retirement System, in consultation with its actuary, may promulgate rules lowering the required years of service for entry into the plan to an amount of not less than twenty-eight (28) years of service, subject to an early participation reduction. The reduction will be computed in a manner that is both equitable to all members and actuarially appropriate for the system.
Amended by Act 2019, No. 315,§ 2864, eff. 7/24/2019.
Acts 1997, No. 1052, § 1; 1999, No. 1325, § 2; 2001, No. 151, § 48.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 8 - DEFERRED RETIREMENT OPTION PLAN (§§ 24-4-801 — 24-4-806) › Section 24-4-802 - Eligibility - Effect of election

(a)
When a member of the Arkansas Public Employees' Retirement System elects participation in the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan, the member shall fill out an application form as developed by the Board of Trustees of the Arkansas Public Employees' Retirement System. The member's application shall be reviewed to determine whether or not the member meets the eligibility requirements specified in this subchapter. The member's deferred retirement option date shall be the later of:
(1)
The first day of the month following the system's determination that the member is eligible for plan participation; or
(2)
The date requested by the member on the application.
(b)
(1)
A member who elects participation in the plan may elect one (1) of the annuity options provided in §
24-4-606
.
(2)
The election shall be deemed to apply to the member's deferred retirement option plan benefit as well as to the member's monthly retirement benefit from the system at the time it becomes payable.
(c)
(1)
The election to participate in the plan is irrevocable and the duration of participation in the plan for active members shall not exceed ten (10) years.
(2)
Under no circumstances shall a member receive service credit under any state-supported retirement system during a period of participation or following a period of such participation in the same retirement system's plan.
(d)
When a member begins participation in the plan, the:
(1)
Employee contributions to the system on behalf of the member shall cease; and
(2)
Employer contributions to the system on behalf of the member shall continue.
Amended by Act 2021, No. 518,§ 1, eff. 3/31/2021.
Amended by Act 2017, No. 502,§ 1, eff. 3/15/2017.
Acts 1997, No. 1052, § 2; 2001, No. 151, § 49; 2001, No. 762, § 1; 2007, No. 176, § 6; 2011, No. 558, § 2.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 8 - DEFERRED RETIREMENT OPTION PLAN (§§ 24-4-801 — 24-4-806) › Section 24-4-803 - Amount of benefit - Amount of contribution - Interest

(a)
(1)
The member's deferred benefit shall be the monthly benefit to which the member would have been entitled if the member had thirty (30) years of service and had actually retired on the member's deferred retirement option date with regard to the provisions of §
24-4-606
related to annuity options.
(2)
If the member has less than thirty (30) years of actual service, but at least twenty-eight (28) years of service, the portion of the member's deferred benefit that is contributed to the Arkansas Public Employees' Retirement System Deferred Retirement Option Plan will be reduced by the percentage established by the Board of Trustees of the Arkansas Public Employees' Retirement System, and then shall be subject to the additional computations as set forth in subsections (b) and (c) of this section.
(b)
The member's deferred option account shall be the account in which shall be accumulated the member's deferred option contributions, plus interest. Effective July 1, 1999, the Arkansas Public Employees' Retirement System's deferred option contributions shall be at least seventy-five percent (75%) of the system's deferred option benefit with the exact contribution to be determined in accordance with the rules of the board as is actuarially appropriate for the system. The member shall be informed of the amount of his or her deferred option contribution and informed that his or her selection of the deferred retirement option, the time of the retirement deferral, and the selection of the retirement annuity are irrevocable.
(c)
The interest on contributions to the member's deferred option account shall be credited to the individual account balance of the member on an annual basis at the end of each fiscal year. The board shall determine the rate of interest to be credited to each member's deferred option account.
Amended by Act 2019, No. 315,§ 2865, eff. 7/24/2019.
Acts 1997, No. 1052, § 3; 1999, No. 535, § 1; 1999, No. 1325, § 3; 2001, No. 151, § 50.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 8 - DEFERRED RETIREMENT OPTION PLAN (§§ 24-4-801 — 24-4-806) › Section 24-4-805 - Death or disability

(a)
In the event that an Arkansas Public Employees' Retirement System Deferred Retirement Option Plan participant dies, the benefits payable from the Arkansas Public Employees' Retirement System shall be determined as though the participant had separated from service and been found eligible for monthly benefits by the Board of Trustees of the Arkansas Public Employees' Retirement System on the day prior to the death, with death following immediately thereafter.
(b)
In the event that a plan participant applies for benefits from the system pursuant to §
24-4-511
related to disability retirement, the application shall be treated as an application for voluntary retirement pursuant to §
24-4-601
and no benefits other than those that would be payable without regard to the disability shall become payable.
Acts 1997, No. 1052, § 5; 2001, No. 151, § 52.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 4 - ARKANSAS PUBLIC EMPLOYEES' RETIREMENT SYSTEM (§§ 24-4-101 — 24-4-1109) › Subchapter 8 - DEFERRED RETIREMENT OPTION PLAN (§§ 24-4-801 — 24-4-806) › Section 24-4-806 - Limitation on benefit enhancement

(a)
No benefit enhancement provided for by this subchapter shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization.
(b)
No benefit enhancement provided for by this subchapter 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 liabilty is reduced to a level less than the standards prescribed by §
24-1-101
et seq.
Acts 1997, No. 1052, § 6.