§ 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 […]
§ 24-10-601. Generally
No benefit shall be paid by the Arkansas Local Police and Fire Retirement System based upon pay which is covered by any other retirement plan, except Social Security.
§ 24-10-602. Annuity generally
(a) Upon a member’s retirement, he or she shall receive an annuity for life in accordance with the applicable benefit program elected by his or her employer, as follows: (1) Benefit Program 1. (A) For each year of paid service resulting from employment: (i) In a position not also covered by Social Security, two and […]
§ 24-10-603. Annuity options
(a) Before the date the first payment of a member’s annuity becomes due, but not thereafter, a member may elect in a manner prescribed by the Arkansas Local Police and Fire Retirement System to receive his or her annuity as an Option A60 annuity under this section, or the member may elect to have his […]
§ 24-10-604. Voluntary retirement
(a) (1) A member in covered employment may retire with an annuity provided for in § 24-10-602 upon his or her written application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System setting forth at what time, at least thirty (30) days but not more than ninety (90) days subsequent […]
§ 24-10-605. Compulsory retirement
(a) A member’s employer shall determine the compulsory separation age for its employees. (b) Upon his or her separation from his or her last covered employment, a member with five (5) or more years of credited service in force who has attained his or her normal retirement age shall receive an annuity provided for in […]
§ 24-10-606. Early retirement
(a) An active member in covered employment who has not attained his or her normal retirement age may retire with an early annuity as provided in this section upon his or her proper application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System setting forth at what time, not less […]
§ 24-10-607. Disability retirement — Definition
(a) (1) (A) (i) An active member with five (5) years of credited service, including credited service for seventy-five percent (75%) of the two (2) years immediately preceding his or her disability, who while an active member becomes totally and permanently physically or mentally incapacitated for any suitable duty as an employee as a result […]
§ 24-10-608. Death of member in paid service
(a) (1) If an active member with five (5) or more years of credited paid service, including credited service for the year immediately preceding his or her death, dies in employer-paid service before retirement, the applicable benefits provided in this subsection and subsections (c)-(e) of this section shall be paid, subject to § 24-10-610. (2) […]