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 10 - RETIREMENT BENEFITS (§§ 24-4-1001 — 24-4-1004) › Section 24-4-1001 - Determination of benefits for wildlife officers - Responsibility for additional costs

(a)
For purposes of determining benefits under this chapter, all credited service, whenever earned, of persons employed as wildlife officers of the Arkansas State Game and Fish Commission on July 4, 1983, and of persons thereafter employed in such positions prior to July 1, 1997, shall be treated as public safety member service.
(b)
The additional cost to the Arkansas Public Employees' Retirement System of this section shall be the responsibility of the commission, and the commission shall pay to the system an additional twelve percent (12%) of covered payroll at the same time as employer contributions are paid by law for other commission employees.
(c)
It is the specific intent of this section to provide that the twelve percent (12%) contribution referenced in subsection (b) of this section shall be in addition to those required by §
24-2-701(c)
.
(d)
(1)
Any person who is covered on July 3, 1989, by a state-supported retirement system and who was a member of the system on July 4, 1983, in a position defined by the system as "public safety member" shall receive credit for public safety member service for any service as a wildlife officer with the commission, which service was rendered before July 4, 1983.
(2)
Provided, the additional cost to the system shall be the responsibility of the member, and the member shall pay to the system any additional cost, as computed by actuarial determination.
Acts 2001, No. 151, § 53.
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 10 - RETIREMENT BENEFITS (§§ 24-4-1001 — 24-4-1004) › Section 24-4-1002 - Benefit provisions - Subjection of annuity rights to process of law

(a)
The right of a person to an annuity, to the return of accumulated contributions, the annuity itself, any annuity option, any other right accrued or accruing under the provisions of §
24-4-101
et seq., and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any other process of law whatsoever and shall be unassignable, except as is specifically provided in this chapter.
(b)
An exception to the prohibition against the subjection of annuity rights to any process of law applies to the following:
(1)
An employer shall have the right of setoff for any claim arising from embezzlement by or fraud of a member, retirant, or beneficiary; and
(2)
A court of competent jurisdiction of this state may order the monthly benefit of a retirant to be paid into the registry of the court for disposition as the court deems just and proper if the retirant is found by the court to be willfully refusing or failing to support his or her minor dependent children in violation of a court order providing for such support.
Amended by Act 2023, No. 248,§ 9, eff. 7/1/2023.
Acts 2001, No. 151, § 53.
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 10 - RETIREMENT BENEFITS (§§ 24-4-1001 — 24-4-1004) › Section 24-4-1003 - Benefit provisions - Inspection of records

All records kept by an Arkansas public retirement system, whether required to be kept by law or board policy, shall be open to public inspection as provided in §
25-19-105
, except that individual member's records which are kept for the purpose of compiling information for the member's retirement or Social Security records shall not be open to the public.
Acts 2001, No. 151, § 53.
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 10 - RETIREMENT BENEFITS (§§ 24-4-1001 — 24-4-1004) › Section 24-4-1004 - Determination of benefits for civilian firefighters of State Military Department or Department of the Military - Responsibility for additional costs

(a)
For purposes of determining benefits under this chapter, all credited service, whenever earned, of persons employed as civilian firefighters of the State Military Department or Department of the Military as of July 1, 1997, and of persons thereafter employed in those positions shall be treated as public safety member service if the position is one hundred percent (100%) federally funded.
(b)
The additional cost to the Arkansas Public Employees' Retirement System as computed by actuarial determination is the responsibility of the employer and is in addition to those costs required by §
24-2-701(c)
.
(c)
Employment as a public safety member shall be credited at one and one-half (1½) times the regular rate for crediting service.
(d)
(1)
A public safety member who purchases military service credit under §
24-2-502
shall be credited at the regular rate for credited service and not an enhanced rate.
(2)
A public safety member shall pay the same rate for the purchase of service credit from the system as a member of the system who is not a public safety member.
Amended by Act 2019, No. 910,§ 5548, eff. 7/1/2019.
Amended by Act 2017, No. 437,§ 1, eff. 8/1/2017.
Acts 2011, No. 978, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1101 - Membership

(a)
A public employee, as defined in §
24-4-101(18)
, first hired on or after July 1, 2005, is subject to the benefit provisions of this subchapter.
(b)
(1)
(A)
A public employee who remains an active member of the Arkansas Public Employees' Retirement System may elect coverage under the benefit provisions of this subchapter.
(B)
If the member elects contributory coverage, the effective date of the member's contributory coverage shall be:
(i)
The first payroll period that is paid and reported in the next month after the contributory election; and
(ii)
Prospective only.
(2)
A conversion or purchase of noncontributory service into contributory service under this subchapter is not allowed.
(3)
The election shall be made as directed by the Board of Trustees of the Arkansas Public Employees' Retirement System and is irrevocable.
(c)
Noncontributory members who terminate covered service for a period of more than six (6) months and subsequently return to covered service will be subject to the provisions of this subchapter.
Amended by Act 2013, No. 332,§ 12, eff. 3/14/2013.
Acts 2005, No. 2084, § 4; 2009, No. 742, § 2; 2011, No. 140, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1102 - Member contributions

(a)
(1)
The contributions of a member shall be five percent (5%) of the member's annual compensation and shall be placed in the member's deposit account as provided in §
24-4-401
.
(2)
Interest shall be paid on accumulated member contributions at the rate of two percent (2%) per annum.
(3)
As used in this subsection, "compensation" has the same meaning as in §
24-4-101
.
(4)
(A)
Beginning July 1, 2022, and continuing each following fiscal year, the contribution rate shall be increased in increments of twenty-five hundredths of one percent (0.25%) per fiscal year.
(B)
An increase to the contribution rate under subdivision (a)(4)(A) of this section shall not result in a contribution rate greater than seven percent (7%).
(b)
(1)
For purposes of deferring federal and state income tax under
26 U.S.C. § 414(h)(2)
, as adopted by §
26-51-414
, the employer shall pick up the member's contributions to the Arkansas Public Employees' Retirement System required by this section payable on or after July 1, 2005.
(2)
(A)
Member contributions picked up by the employer shall be paid from the same source of funds used for the payment of salary to a member.
(B)
The employer shall be solely responsible for remitting member contributions to the system in a manner consistent with §
24-4-202
, including without limitation compliance with deadlines and penalties.
(C)
A deduction shall be made from each member's salary equal to the amount of the member's contribution picked up by the employer.
(D)
For all other purposes, member contributions picked up by the employer shall be considered member contributions.
(c)
Upon termination of covered service, a former member may request a refund of the former member's accumulated contributions under §
24-4-603
, except that interest will be credited on all balances for service through the last completed fiscal year as provided in §
24-4-209(a)
.
Amended by Act 2021, No. 365,§ 2, eff. 7/28/2021.
Amended by Act 2019, No. 526,§ 1, eff. 7/24/2019.
Acts 2005, No. 2084, § 4; 2007, No. 176, § 7; 2011, No. 20, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1103 - Benefits generally

(a)
(1)
Upon retirement under this subchapter, a member shall receive a straight life pension equal to two and three-hundredths percent (2.03%) of the member's final average compensation multiplied by the number of years and any fraction of a year of the member's service for each year of contributory service rendered prior to July 1, 2007.
(2)
For each year of contributory service in the Arkansas Public Employees' Retirement System rendered after June 30, 2007, the member shall receive two percent (2%) of the member's final average compensation multiplied by the number of years and any fraction of a year of the member's service.
(3)
For each year of actual service in the system in excess of twenty-eight (28) years that is rendered on or after July 1, 2009, a member shall receive a straight life annuity equal to an additional five-tenths of one percent (0.5%) of the member's final average compensation.
(b)
Any member may voluntarily retire upon filing a written application with the Board of Trustees of the Arkansas Public Employees' Retirement System not less than thirty (30) days nor more than ninety (90) days before the date the member desires to be retired if that member has:
(1)
Twenty-eight (28) or more years of credited service regardless of age; or
(2)
(A)
Attained or attains sixty-five (65) years of age and has five (5) or more years of actual service.
(B)
However, a member of the General Assembly must have ten (10) or more years of actual service if the member only has service as a member of the General Assembly.
(c)
No temporary annuity will be provided to members covered by this subchapter.
(d)
The maximum benefit payable upon retirement shall be one hundred percent (100%) of the member's final average compensation without regard to any postretirement increases enacted by the General Assembly.
Acts 2005, No. 2084, § 4; Acts 2007, No. 220, § 2; 2009, No. 1200, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1104 - Annuity options

Before the date the first payment of a member's annuity is due, a member may elect to receive the annuity as a straight life annuity or as one (1) of the reduced annuity options provided in §
24-4-606
.
Acts 2005, No. 2084, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1105 - Deferred and early annuities

(a)
Any member or former member with sufficient years of actual service to qualify for a vested termination annuity who has not attained normal retirement age may retire with an early annuity provided in §
24-4-510(a)
.
(b)
In the event a member with five (5) or more years of actual service in the Arkansas Public Employees' Retirement System ceases employment as a covered member before reaching sixty-five (65) years of age or attaining twenty-eight (28) years of service and does not withdraw his or her accumulated employee contributions to the system, the member is entitled to receive an annuity upon attainment of sixty-five (65) years of age and submission of a retirement application to the system.
(c)
If a former member has applied for a refund of contributions but returns to employment with a participating public employer prior to the date the refunded contributions are received, the request is void and employment must be terminated again to request a refund of contributions.
Acts 2005, No. 2084, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1106 - Benefits - Death of retirant

(a)
In the event a retirant receiving a straight life pension dies before the retirant has received an aggregate amount of straight life pension payments equal to the accumulated contributions credited in the retirant's deposit account at the time of retirement, the difference between the accumulated contributions and the aggregate amount of straight life pension payments received by the retirant shall be paid to the named beneficiary.
(b)
If no designated person survives the retirant, the difference, if any, shall be paid in accordance with the laws of descent and distribution of the State of Arkansas.
(c)
The payments may be made directly to a curator, guardian, administrator, or executor authorized to receive the payments with or without the appointment of a representative in this state.
(d)
No benefits will be paid under this section if survivor benefits are otherwise payable to a named beneficiary.
Acts 2005, No. 2084, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1107 - Redetermination of benefits

(a)
Each July 1 the Arkansas Public Employees' Retirement System shall redetermine the amount of each monthly benefit that has been payable by the system for at least twelve (12) calendar months. The redetermined amount is payable for the following twelve (12) calendar months.
(b)
The redetermined amount is the amount of the benefit payable as of the immediately preceding July 1 increased by three percent (3%).
(c)
(1)
If a person is first hired by a system-covered employer on or after July 1, 2022, and retires under the eligibility requirements of the system, the monthly benefit for the person shall be redetermined in accordance with subdivision (c)(2) of this section.
(2)
(A)
The redetermined amount for a person described in subdivision (c)(1) of this section shall be the amount of the monthly benefit otherwise payable as of the immediately preceding July 1 increased by the lesser of three percent (3%) or the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers as determined by the United States Department of Labor over the one-year period ending in the December immediately preceding the date for which the redetermined amount is being calculated.
(B)
The redetermined amount of the monthly benefit to be paid to the person shall not be less than the redetermined amount of the monthly benefit paid to the person in the preceding year.
Amended by Act 2021, No. 366,§ 2, eff. 7/28/2021.
Acts 2005, No. 2084, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1108 - Benefit provisions - Death in service

(a)
(1)
If an active member or former member with less than five (5) years of actual service dies while employed by a covered employer, the member's accumulated contributions and interest are refundable to the named beneficiary.
(2)
If no designated person survives the member, the accumulated contributions will be paid in accordance with the laws of descent and distribution of the State of Arkansas.
(3)
The payments may be made directly to a curator, guardian, administrator, or executor authorized to receive the payments with or without the appointment of a representative in this state.
(b)
If an active member or former member with five (5) or more years of actual service dies before retirement, the benefits under this section will be paid upon written application to the Board of Trustees of the Arkansas Public Employees' Retirement System as provided in §
24-4-608
.
Acts 2005, No. 2084, § 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 11 - CONTRIBUTIONS OF MEMBERS TO THEIR DEPOSIT ACCOUNTS (§§ 24-4-1101 — 24-4-1109) › Section 24-4-1109 - Maximum benefit limitation

(a)
Benefits paid under this chapter shall not exceed the limitations of
26 U.S.C. § 415
of the Internal Revenue Code that are applicable to governmental retirement plans.
(b)
(1)
The Board of Trustees of the Arkansas Public Employees' Retirement System is authorized to promulgate all rules necessary to implement the limitations of
26 U.S.C. § 415
of the Internal Revenue Code.
(2)
The rules adopted by the board under this section shall be amended to reflect any changes in the content or application of
26 U.S.C. § 415
of the Internal Revenue Code enacted by the United States Congress or promulgated by the Internal Revenue Service.
Acts 2005, No. 2084, § 4.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-102 - Penalty

Any person who knowingly makes any false statement or who falsifies any record or records in an attempt to defraud the Arkansas State Highway Employees' Retirement System as a result of such an act shall be guilty of a Class A misdemeanor.
Acts 1949, No. 454, § 6; 1981, No. 295, § 6; A.S.A. 1947, § 76-1906; Acts 2005, No. 1994, § 363.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-103 - Establishment of system

There is created and established a retirement system for employees of the Arkansas Department of Transportation to be known as the "Arkansas State Highway Employees' Retirement System", all the business of which shall be transacted through a board of trustees as provided for in this chapter.
Amended by Act 2017, No. 707,§ 274, eff. 8/1/2017.
Acts 1949, No. 454, § 2; A.S.A. 1947, § 76-1902.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-105 - Cost of administration - Payment of benefits and adjustment of errors

(a)
The cost of administering the plan shall be borne by the Arkansas Department of Transportation, except that the Arkansas State Highway Employees' Retirement System shall pay the expenses incurred for the actuary, the consultant for investments, fees for the members of the medical board of the system, expenses associated with automating the accounting needs of the system, and forms purchased from vendors and identified by letterhead printing as those of the system.
(b)
(1)
The Treasurer of State shall pay retirement benefits, as defined in this chapter, to retirants only on vouchers signed by the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System, or other authorized person, and on warrants or checks issued by the Auditor of State or other designated officer of the state.
(2)
(A)
The designated disbursing officers for the system are authorized to complete and sign one (1) certification for each state voucher or other designated document that authorizes the Auditor of State, or other official, to draw a state warrant or check on a fund administered by the system.
(B)
(i)
The voucher or other authorizing document can consist of one (1) or more pages.
(ii)
In the event that more than one (1) page is used, then the designated disbursing officer is to manually sign the last page only, and any certification is to be so worded that it will apply to all pages of the document.
(c)
(1)
Should any change or error in the records of the system result in any member's receiving more or less than he or she would have been entitled to receive had the records been correct, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon discovery of the error and so far as is practicable, shall adjust the payments in such a manner that the benefit to which the member was justly entitled shall be paid.
(2)
In the event that an overpayment is made to anyone, every legal effort shall be made to recover the overpayment.
Amended by Act 2017, No. 707,§ 276, eff. 8/1/2017.
Acts 1949, No. 454, § 6; 1981, No. 295, § 6; A.S.A. 1947, § 76-1906; Acts 1987, No. 213, § 2; 1999, No. 32, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-106 - Establishment of retirement fund

(a)
There is created a trust fund to be known as the "Arkansas State Highway Employees' Retirement System Fund", which shall be the depository for moneys in the State Treasury or the designated bank as provided for in this chapter.
(b)
The employer shall draw vouchers or cause vouchers to be drawn upon the State Highway and Transportation Department Fund for deposit into the Arkansas State Highway Employees' Retirement System Fund for such sums of money as are provided in §
24-5-109
to match employee contributions as certified by the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System:
(1)
In accordance with the provisions of this section and §§
24-5-101
-
24-5-105
,
24-5-107
-
24-5-109
, and
24-5-112
-
24-5-118
; or
(2)
As provided under §
24-5-137
.
(c)
(1)
The Treasurer of State, or a designated bank, shall be the legal custodian of the securities of the system, subject to the orders and directions of the board.
(2)
The system may deposit with the Treasurer of State, or a designated bank, safekeeping receipts or, in the case of federal bookkeeping entries, the evidence of investment that is issued in lieu of the actual securities.
(d)
The Attorney General shall serve as legal advisor to the board.
(e)
It shall be the duty of the Legislative Auditor to audit the finances of the system one (1) time or more often if either the auditor or the board consider such action necessary.
(f)
A decision on whether to invest, not invest, or withdraw from investment the funds of the system shall not be based on a consideration that the location of the investment, fund, company, or any other type of investment vehicle is in the State of Israel.
Amended by Act 2017, No. 796,§ 1, eff. 8/1/2017.
Acts 1949, No. 454, § 4; 1969, No. 167, § 3; 1981, No. 295, §§ 4, 5; A.S.A. 1947, § 76-1904; Acts 2011, No. 16, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-107 - Membership

(a)
Any employee of the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation, as defined in §
24-5-101(7)
, shall become a member of the Arkansas State Highway Employees' Retirement System in the manner and under the conditions provided in this chapter.
(b)
Membership in the system may be terminated by retirement, disability, superannuation, or death, or by withdrawal, either voluntary or involuntary, from active service in the department.
(c)
Any member with not less than five (5) years of creditable service whose employment with the department is terminated for any reason may leave his or her contributions in the Arkansas State Highway Employees' Retirement System Fund and thereafter be entitled to retirement benefits as otherwise provided in this chapter.
Amended by Act 2017, No. 707,§ 277, eff. 8/1/2017.
Acts 1949, No. 454, §§ 7, 8; 1969, No. 167, § 4; A.S.A. 1947, §§ 76-1907, 76-1908; Acts 1997, No. 347, § 1; 1997, No. 1053, § 12.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-108 - Members' contributions

(a)
(1)
A member of the Arkansas State Highway Employees' Retirement System shall be assessed six percent (6%) of his or her salary or wages by payroll deductions, and the Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall transmit the payroll deductions from the member's salary or wages to the bank designated as the depository for the funds of the system or to the Treasurer of State, as appropriate.
(2)
(A)
Beginning on July 1, 2019, the Board of Trustees of the Arkansas State Highway Employees' Retirement System shall assess the member contribution rate after receiving recommendations from the actuary of the system.
(B)
An assessed member contribution rate shall be:
(i)
Not more than seven percent (7%) of compensation; and
(ii)
Increased by no more than five-tenths of one percent (0.5%) in a single year.
(b)
(1)
(A)
As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the Arkansas State Highway Employees' Retirement System Fund to the credit of his or her account an amount equal to four percent (4%) of his or her earnings for each year of his or her authenticated prior and current service not covered, plus such interest as the board may prescribe.
(B)
Each year, or fractional part thereof, for which such prior and current service contributions are paid shall be added to the current service record of the member in computing his or her retirement benefits under the provisions of §§
24-5-115
-
24-5-118
, subject to the provision that no member may accrue more than thirty-five (35) years of creditable service.
(2)
(A)
(i)
As a means of increasing his or her annual annuity benefits, a member may elect, upon approval by the board, to pay into the fund to the credit of his or her account an amount equal to four percent (4%) of the amount that his or her earnings exceeded seven thousand five hundred dollars ($7,500) per annum for periods previously covered through June 30, 1969, plus such interest as the board may prescribe.
(ii)
These earnings in excess of seven thousand five hundred dollars ($7,500) per annum on which supplemental contributions have been paid shall be credited to his or her average compensation in his or her service record in computing his or her retirement benefits under the provisions of §§
24-5-115
-
24-5-118
.
(B)
The plan for such payment shall be as prescribed by the board.
(c)
It is expressly guaranteed that all member contributions shall be held in trust for the exclusive benefit of the individual contributor.
Amended by Act 2019, No. 295,§ 1, eff. 7/1/2019.
Acts 1949, No. 454, § 9; 1953, No. 403, §§ 6, 7; 1969, No. 167, § 5; 1975, No. 599, § 1; 1977, No. 722, § 1; 1981, No. 295, § 7; A.S.A. 1947, § 76-1909.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-109 - Employer contributions

(a)
An employer contribution shall be a set percentage rate of the compensation of the employee as defined in §
24-5-101
and described in §
24-5-202
.
(b)
(1)
The Board of Trustees of the Arkansas State Highway Employees' Retirement System shall propose a set percentage rate after receiving recommendations from the actuary for the system.
(2)
The employer contribution rate recommended by the board shall be approved by the State Highway Commission.
(3)
The percentage rate shall not be less than twelve and nine-tenths percent (12.9%) of compensation.
(4)
The employer contribution rate shall be recommended based on a contribution policy established by the board.
(5)
The system shall use the contribution rate last approved by the commission until a new contribution rate is approved by the commission.
Amended by Act 2021, No. 137,§ 1, eff. 7/28/2021.
Amended by Act 2019, No. 295,§ 2, eff. 7/1/2019.
Acts 1949, No. 454, § 10; 1953, No. 403, § 8; 1969, No. 167, § 6; 1975, No. 599, § 2; 1977, No. 722, § 2; 1979, No. 821, § 1; 1981, No. 295, §§ 8-10; A.S.A. 1947, § 76-1910.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-110 - Credit for prior and current service in department

(a)
(1)
Any employee of the Arkansas Department of Transportation may make application within one (1) year from the date of becoming a member of the Arkansas State Highway Employees' Retirement System and receive credit for any authenticated prior service rendered as an employee of the department prior to July 1, 1949.
(2)
In addition thereto, the employee may receive current service credit for any service rendered as an employee of the department since July 1, 1949, and prior to the date of becoming a member of the system, upon paying into the system to the credit of his or her account an amount equal to four percent (4%) of his or her earnings, not to exceed seven thousand five hundred dollars ($7,500) per annum, for each year of the authenticated prior service, or current service rendered prior to becoming a member of the system, in the event the employee has not previously obtained credit for such service.
(b)
(1)
The employee shall pay into the system such necessary contributions and interest as may be prescribed by the Board of Trustees of the Arkansas State Highway Employees' Retirement System within a period of five (5) years.
(2)
Not less than one-fifth (1/5) of the total prior service and current service contributions shall be paid during each year of the five-year period.
Amended by Act 2017, No. 707,§ 278, eff. 8/1/2017.
Acts 1967, No. 254, § 1; A.S.A. 1947, § 76-1913; Acts 1997, No. 347, § 2; 1997, No. 1053, § 13.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-112 - Eligibility for benefits - Voluntary retirement

(a)
A member may retire voluntarily as follows:
(1)
At sixty-five (65) years of age, or during any year thereafter until the age of compulsory retirement has been attained, with a minimum of five (5) years of creditable service in the Arkansas State Highway Employees' Retirement System;
(2)
At sixty-two (62) years of age, with a minimum of fifteen (15) years of creditable service in the system;
(3)
At sixty (60) years of age, with a minimum of twenty (20) years of creditable service in the system; or
(4)
Regardless of age, with thirty (30) years of creditable service in the system.
(b)
(1)
Any retired member who has creditable service with the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation for more than thirty-five (35) years and who is not receiving benefits based on his or her actual creditable service time, on February 27, 1991, shall have his or her annuity adjusted at that time.
(2)
The adjustment shall be equivalent to the retirant's original annuity, adjusted for actual service time and subsequent cost-of-living and any ad hoc increases.
(3)
The retirant shall be paid such adjusted annuity for each month thereafter.
(c)
The Board of Trustees of the Arkansas State Highway Employees' Retirement System, by rule, may reduce the amount of creditable service required to retire voluntarily regardless of age from thirty (30) years of creditable service to an amount of no less than twenty-eight (28) years of creditable service, if the board determines that the change is fair and just to the members of the system and that it is actuarially appropriate.
Amended by Act 2019, No. 315,§ 2867, eff. 7/24/2019.
Amended by Act 2017, No. 707,§ 279, eff. 8/1/2017.
Acts 1949, No. 454, § 11; 1963, No. 494, § 3; 1969, No. 167, § 7; 1985, No. 379, § 1; A.S.A. 1947, § 76-1911; Acts 1991, No. 243, § 1; 1997, No. 347, § 3; 1997, No. 1053, § 14; 1999, No. 1325, § 5.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-114 - Eligibility for benefits - Early retirement

(a)
In addition to retirement as provided in §§
24-5-112
and
24-5-113
, a member may retire after a minimum of five (5) years of service on and after the member's fifty-fifth birthday.
(b)
(1)
However, the annuity otherwise payable, as provided in §
24-5-115
, shall be reduced eight-tenths of one percent (0.8%) for each of the first sixty (60) months, or fraction thereof, that the early retirement date precedes the earliest date that the member could retire without a reduction in the annuity.
(2)
The annuity shall be reduced three-tenths of one percent (0.3%) for each of the next sixty (60) months, or fraction thereof, that the early retirement date precedes the earliest date that the member could retire without a reduction in the annuity.
Acts 1949, No. 454, § 11; 1981, No. 295, § 11; 1985, No. 379, § 2; A.S.A. 1947, § 76-1911; Acts 1997, No. 347, § 5; 1997, No. 1053, § 16.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-115 - Benefits generally

(a)
(1)
Members retired for the reasons set forth in §§
24-5-112
-
24-5-114
shall be eligible for annual retirement benefits based on two and two-tenths percent (2.2%) of their average compensation, as defined in §
24-5-101
, limited to the amount upon which contributions, including supplemental contributions under the provisions of §
24-5-108(b)
, have been made, multiplied by the number of years of creditable service in the Arkansas State Highway Employees' Retirement System.
(2)
Payments shall be made in equal monthly installments.
(b)
(1)
In the event a member has not completed payment of his or her service contributions as provided for in §
24-5-108(b)
and is current in his or her service contributions at the time of retirement, the Board of Trustees of the Arkansas State Highway Employees' Retirement System is authorized to deduct from each monthly annuity payment an amount equal to one-twelfth (1/12) of the unpaid balance of the service contributions.
(2)
The deductions shall continue until all service contributions have been paid in full.
Acts 1949, No. 454, § 12; 1969, No. 167, § 8; A.S.A. 1947, § 76-1912; Acts 1991, No. 41, § 1; 1991, No. 246, § 1; 1997, No. 386, § 1; 2001, No. 539, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-117 - Benefits - Withdrawal from service

(a)
(1)
In the case of withdrawal from service within less than one (1) year after having become a member of the Arkansas State Highway Employees' Retirement System, the Board of Trustees of the Arkansas State Highway Employees' Retirement System, upon request, shall pay to the member all of his or her accumulated contributions without interest.
(2)
(A)
If withdrawal occurs after one (1) year of membership in the system, the board upon request shall pay to the member all of his or her accumulated contributions plus interest as determined by the board.
(B)
The member so reimbursed shall have no legal claim on any contribution made by the state with a view to his or her retirement.
(3)
Payment to a member under the conditions set forth in this subsection shall be made as provided by the board.
(4)
A member's interest in the system shall be exempt from attachment and execution.
(b)
(1)
In the case of an employee's withdrawal from service after becoming a member of the system and when the employee's contribution has accumulated to a total of less than two hundred fifty dollars ($250), then the employee's accumulated contribution shall become forfeit to the Arkansas State Highway Employees' Retirement System Fund unless withdrawn by the former employee from the fund within the first three (3) years following the employee's termination of service with the Arkansas Department of Transportation, provided that such employee is not a member of a reciprocal system.
(2)
In the event of forfeiture to the fund, the former employee shall have no further claim upon the system.
(c)
The payment of the cost of the refunded service shall be based on an actuarial equivalent as prescribed by the board if a member:
(1)
Is reemployed by a state employer;
(2)
Has received a refund from the system; and
(3)
Seeks to reinstate time withdrawn.
Amended by Act 2017, No. 707,§ 281, eff. 8/1/2017.
Acts 1949, No. 454, § 12; 1969, No. 167, § 9; 1979, No. 126, § 2; A.S.A. 1947, § 76-1912; Acts 1999, No. 33, § 1; 2011, No. 564, § 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-119 - Redetermination of benefits

(a)
Beginning with the July 1 which is at least twelve (12) full months after the effective date of each benefit, the amount of each benefit shall be redetermined, and the redetermined amount shall be payable for the ensuing year.
(b)
(1)
The redetermined amount shall be the amount of the benefit otherwise payable as of the immediately preceding July 1 increased by the lesser of three percent (3%) or the percentage change in the Consumer Price Index for Urban Wage Earners and Clerical Workers as determined by the United States Department of Labor over the one-year period ending in the December immediately preceding the date for which the redetermined amount is being calculated.
(2)
However, the redetermined amount of the benefit to be paid shall not be less than the redetermined amount of the benefit paid in the preceding year.
Amended by Act 2017, No. 610,§ 1, eff. 7/1/2017.
Acts 1975, No. 599, § 4; 1979, No. 821, § 2; 1983, No. 479, § 2; 1985, No. 611, § 2; A.S.A. 1947, §§ 76-1912.4, 76-1912.6; Acts 1987, No. 809, § 4; 1995, No. 407, §§ 1, 4; 1999, No. 335, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-120 - Increase in monthly retirement benefit - Schedule

(a)
Effective July 1, 1987, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who retired prior to July 1, 1985, and who receive an annuity for July 1987, shall be increased by no more than fifteen percent (15%) of the annuity received for June 1987.
(b)
The fifteen percent (15%) increase shall be in accordance with the following schedule:
Retired
Percent Increase
After
6-30-85
0%
7-1-83 through 6-30-85
1%
7-1-82 through 6-30-83
2%
7-1-81 through 6-30-82
3%
7-1-80 through 6-30-81
4%
7-1-79 through 6-30-80
5%
7-1-78 through 6-30-79
6%
7-1-77 through 6-30-78
7%
7-1-76 through 6-30-77
8%
7-1-75 through 6-30-76
9%
7-1-74 through 6-30-75
10%
7-1-73 through 6-30-74
11%
7-1-72 through 6-30-73
12%
7-1-71 through 6-30-72
13%
7-1-70
through 6-30-71
14%
Before 7-1-70
15%
Acts 1983, No. 479, § 1; 1985, No. 611, § 1; A.S.A. 1947, § 76-1912.5; Acts 1987, No. 809, § 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-123 - Credit for military service

(a)
Any person who is a member of the Arkansas State Highway Employees' Retirement System shall be entitled to purchase creditable service in the system for a period not to exceed three (3) years for active service rendered by the member in the United States Armed Forces, after the member's first employment in a position covered by a state-supported retirement system, excluding active service for the purpose of attending schools or other peacetime training of the member in the military reserve or national guard, if the person:
(1)
Has ten (10) years of creditable service with this retirement system;
(2)
Received an honorable discharge from the armed forces;
(3)
Is not receiving federal military service retirement pay, excluding federal military disability retirement pay;
(4)
Is not qualified to claim the military service in the system under §
24-2-502
or §
24-5-101
et seq.; and
(5)
(A)
Except as provided in subdivision (a)(5)(B) of this section, contributes to the members' deposit account a sum of money equal to an amount based on an actuarial equivalent as prescribed by the Board of Trustees of the Arkansas State Highway Employees' Retirement System.
(B)
Subdivision (a)(5)(A) of this section does not apply if this section conflicts with the Uniformed Services Employment and Reemployment Rights Act of 1994,
38 U.S.C. § 4301
et seq., as in effect on February 1, 2011, as it provides for employees who leave employment for active military service.
(b)
(1)
Interest shall be paid at the rate of six percent (6%) per year from December 31, 1987, or six (6) months after the end of the month in which the member first has ten (10) years of creditable service, whichever is later.
(2)
In no event may payments be extended beyond three (3) years from the date of application.
(3)
It is further required that all payments must be completed before this military service time can be used to compute annuity benefits at time of retirement.
(c)
(1)
This section shall be supplemental to any other laws relating to the members of the system. Nothing in this section shall be construed to repeal or modify any existing provisions of this system's laws providing for creditable service in the system for military service, nor to diminish the right of any member of this system to obtain creditable service in the system for military service under existing laws.
(2)
(A)
In no event shall any member of this system be entitled to receive in excess of five (5) years of creditable service for military service rendered by the member.
(B)
No member shall be eligible for creditable service in more than one (1) state-supported retirement system.
Acts 1987, No. 455, §§ 1, 2; 2011, No. 564, § 5.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-124 - Minimum monthly benefit

All persons who are now vested or who hereafter vest under the Arkansas Public Employees' Retirement System or the Arkansas State Highway Employees' Retirement System shall be entitled to a minimum monthly benefit of one hundred fifty dollars ($150).
Acts 1989, No. 547, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-126 - Increase in benefits

(a)
Effective July 1, 1991, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1991 shall be increased by four percent (4%) above the annuity such retiree or beneficiary received for June 1991.
(b)
The increase in benefits as provided in this section shall be added to the base annuity for the purpose of computing the annual postretirement increase as provided in §
24-5-119(a)
for the benefit redetermination July 1, 1991, and for all years thereafter.
Acts 1991, No. 380, § 3.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-127 - Creditable service

(a)
Any employee of the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation who is a member of the Arkansas State Highway Employees' Retirement System and who has served as a member of the State Highway Commission shall receive partial credit, equal to forty percent (40%) of the time the member served as a member of the commission, as creditable service.
(b)
For the purpose of calculating the member's annuity, the portion of creditable service attributed to serving on the commission shall not be considered when determining retirement eligibility, nor shall it be considered when calculating the annuity, but it is to be considered only toward vesting in the system.
Amended by Act 2017, No. 707,§ 283, eff. 8/1/2017.
Acts 1993, No. 359, § 1.
Arkansas Code of 1987 (2023) › Title 24 - RETIREMENT AND PENSIONS (§§ 24-1-101 — 24-12-204) › Chapter 5 - ARKANSAS STATE HIGHWAY EMPLOYEES' RETIREMENT (§§ 24-5-101 — 24-5-204) › Subchapter 1 - GENERAL PROVISIONS (§§ 24-5-101 — 24-5-137) › Section 24-5-128 - Increase in monthly retirement benefit - 1993

(a)
Effective July 1, 1993, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees' Retirement System who are entitled to receive an annuity for July 1993 shall be increased by two and nine-tenths percent (2.9%) above the annuity such retiree or beneficiary received for June 1993.
(b)
The increase in benefits as provided in this section shall be added to the base annuity for the purpose of computing the annual postretirement increase as provided in §
24-5-119(a)
for the benefit redetermination July 1, 1993, and for all years thereafter.
Acts 1993, No. 929, § 1.