§ 24-10-616. Subjection of benefit rights to legal process
The right of a person to an annuity, the return of accumulated contributions, the annuity itself, any annuity option, any other right accrued or accruing under the provisions of this chapter, and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, or any […]
§ 24-10-617. Survivor health benefits
(a) When a municipal employee who is vested in a municipal retirement system under the Arkansas Local Police and Fire Retirement System, § 24-10-101 et seq., or under a local policemen’s pension and relief fund, § 24-11-401 et seq., or under a firemen’s relief and pension fund, § 24-11-801 et seq., is killed or dies […]
§ 24-10-618. Limitation on benefits granted by Acts 1997, No. 765
No benefit enhancement provided for by § 24-10-610 shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-10-610 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a […]
§ 24-10-619. Limitation on benefits granted by Acts 1997, No. 1136
No benefit enhancement provided for by §§ 24-10-604, 24-10-605, and 24-10-611 shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by §§ 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial […]
§ 24-10-620. Limitations on benefits
(a) (1) Notwithstanding any language to the contrary under this chapter, benefits attributable to employer contributions and paid under the Arkansas Local Police and Fire Retirement System shall not exceed the limitations of the Internal Revenue Code of 1986, 26 U.S.C. § 415, as it existed on January 1, 2011, that are applicable to government […]
§ 24-10-701. Election to participate
(a) In lieu of terminating employment and accepting a voluntary service retirement benefit, a police officer or firefighter who is a member in paid service with the Arkansas Local Police and Fire Retirement System may elect in a manner prescribed by the system to participate in the Local Police and Fire Deferred Retirement Option Plan […]
§ 24-10-702. Credited service
(a) For purposes of this subchapter, “credited service”: (1) Includes military service credit under § 24-10-502; and (2) Does not include service credit that is purchased under the Arkansas Local Police and Fire Retirement System. (b) An active member in paid service may use up to thirty-six (36) months of actual volunteer service credit with […]
§ 24-10-703. Contributions
(a) If a member begins participation in the Local Police and Fire Deferred Retirement Option Plan, the employer and employee contributions shall continue to be paid. (b) Employer and employee contributions for employees who participate in the plan shall be credited to the Arkansas Local Police and Fire Retirement System. (c) (1) For a member […]
§ 24-10-704. Benefits — Rate of return
(a) The member’s monthly retirement benefit shall not change unless the retirement annuity as defined in § 24-10-602 is increased. (b) (1) A member who participates in this plan shall be credited interest at a rate of six percent (6%) per annum. (2) The interest shall be credited to the individual account balance of the […]
§ 24-10-609. Death of member in volunteer service
(a) (1) If an active member who has accrued five (5) or more years of credited service, including credited service for the year immediately preceding his or her death, or who has attained his or her normal retirement age dies in employer volunteer service before retirement, the applicable benefits provided in this subsection and subsection […]