§ 24-1-305. Notice to beneficiary
(a) (1) The executive director or executive secretary of the applicable retirement system or his or her designee shall notify a beneficiary when benefits shall not be paid as provided under § 24-1-302. (2) The notice provided under subdivision (a)(1) of this section shall advise the beneficiary of: (A) The specific facts supporting the retirement […]
§ 24-1-202. Definitions
As used in this subchapter: (1) “Commissioner of Social Security” means any individual to whom the Commissioner of Social Security has delegated any of his or her functions under the Social Security Act, 42 U.S.C. § 301 et seq., with respect to coverage under that act of employees of the state and its political subdivisions; […]
§ 24-1-203. Rules
The Arkansas Public Employees’ Retirement System shall make and publish rules not inconsistent with the provisions of this subchapter it finds necessary or appropriate to the efficient administration of the functions with which it is charged under this subchapter.
§ 24-1-101. Assets and income for retirement systems
All assets and income of any state-supported retirement system administered by an agency of the State of Arkansas shall be held, invested, or disbursed for the exclusive purpose of providing for benefits, investment management, and administrative expenses, including the acquisition of a building for the permanent offices of the state-supported retirement systems, and shall not […]
§ 24-1-102. Annual valuation
(a) Annually, each Arkansas state-supported retirement system shall make a valuation of each system’s assets and incomes for the system. (b) Actuarial assumptions and methods which are used for the annual valuation of each Arkansas state-supported retirement system shall be set by each system’s board based upon the recommendations made by the board’s actuary and […]
§ 24-1-103. Change of contribution rate
No contribution rate of any state-supported retirement system in effect on March 14, 1995, shall be changed except by a vote of the General Assembly.
§ 24-1-104. Liabilities not to exceed thirty-year amortization
No legislated benefit enhancement shall be enacted which would cause the system’s unfunded accrued actuarial liabilities to exceed a thirty-year amortization.
§ 24-1-105. Liabilities exceeding thirty-year amortization period — Legislated benefit enhancement prohibited
When any retirement system on or after March 14, 1995, has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years, that system shall not have a legislated benefit enhancement until the unfunded actuarial accrued liability is reduced to a level less than the standards set by this subchapter.
§ 24-1-106. Benefit enhancements
(a) No benefit enhancement provided for by §§ 24-2-302, 24-2-306, 24-2-401, 24-2-402, 24-2-501, 24-3-102 [repealed], 24-3-106 [repealed], 24-3-201 [repealed], 24-3-208 [repealed], 24-3-209 [repealed], 24-3-301 [repealed], 24-3-303 [repealed], 24-3-304 [repealed], 24-4-101, 24-4-106, 24-4-107, 24-4-301, 24-4-507, 24-4-508, 24-4-510, 24-4-511, 24-4-518 — 24-4-520, 24-4-601, 24-4-608, 24-4-618, 24-4-710 [repealed], 24-4-745 — 24-4-747, 24-4-801, 24-4-803, 24-5-112, 24-5-119, 24-5-125, 24-5-133, 24-5-204, […]
§ 24-1-107. Recognition of federal retirement programs
(a) (1) The Board of Trustees of the Arkansas Public Employees’ Retirement System and the Board of Trustees of the Arkansas Teacher Retirement System shall establish policies and promulgate rules to recognize the service credit for members of the Arkansas Public Employees’ Retirement System and the Arkansas Teacher Retirement System earned in the retirement systems […]