§ 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. (1)

   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.

   2. (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. (2)

   1. (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.

   2. (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.

   3. (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.

   4. (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.