§ 24-11-418. Former military service credit purchase
(a) Any active member of a policemen’s pension and relief fund may purchase credited service in the pension fund equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member’s employment covered by the pension fund, if […]
§ 24-11-402. Vote to effect subchapter
(a) The provisions of this subchapter shall be suspended and inoperative in any city affected by the provisions of this subchapter until made available by a vote favorable thereto of the majority of qualified electors of the cities participating in any election on the question and held at a special election in accordance with § […]
§ 24-11-403. Creation of fund — Tax levy
(a) Annually, a tax not to exceed one (1) mill on the dollar of all taxable property in any cities or towns in this state is levied as a fund for pensioned and superannuated members of the police department, for the surviving spouses and minor children or dependent parents of deceased members of the police […]
§ 24-11-404. Tax levy for pensions in cities of first and second class
(a) (1) After being once approved by a majority of those voting on the question at any general or special election in any city of the first class or city of the second class, a tax not to exceed one (1) mill on the dollar upon the assessed value of the real and personal property […]
§ 24-11-206. Annual financial report
(a) Each plan shall cause to be prepared an annual financial report following the close of each fiscal year. The financial report shall contain at least the following information: (1) A summary of the benefits available to covered persons; and (2) The accounting information specified in § 24-11-207. (b) The annual financial report shall be […]
§ 24-11-207. Annual financial report — Duty of board of trustees
(a) (1) The board of trustees of each plan shall annually cause a financial report to be prepared covering each plan fiscal year. (2) The annual financial report shall be prepared at the direction of the board of trustees and in accordance with reporting procedures established by the Arkansas Fire and Police Pension Review Board. […]
§ 24-11-208. Administration of underfunded plans
(a) The purpose of this section is to provide a method for the funding of benefits in certain underfunded plans. Some of the municipal fire and police pension funds established under §§ 14-52-106, 24-11-401 — 24-11-403, 24-11-405 — 24-11-413, 24-11-416, 24-11-417, 24-11-422, 24-11-423, 24-11-425, 24-11-428 — 24-11-430, 24-11-801 — 24-11-807, 24-11-809, 24-11-813 — 24-11-815, and […]
§ 24-11-210. Requirements for qualified plans under Internal Revenue Code
(a) This section shall be considered a part of the plan of each firemen’s relief and pension fund and policemen’s pension and relief fund that is subject to this subchapter. Each plan is intended to qualify under the Internal Revenue Code, 26 U.S.C. § 401(a), and is for the exclusive benefit of its members, retired […]
§ 24-11-211. Arkansas Policemen’s Pension Supplement Program
(a) (1) There is created the Arkansas Policemen’s Pension Supplement Program, to be administered by the Arkansas Fire and Police Pension Review Board. (2) As used in this section, “retired police officers” includes: (A) Police officers who are retired from active service; and (B) Police officers who remain actively employed while participating in the Arkansas […]
§ 24-11-212. Future Supplement Fund
(a) A Future Supplement Fund is created for the purpose of providing cost-of-living assistance and minimum-benefit-amount assistance to policemen’s pension and relief funds and firemen’s relief and pension funds. (b) The Future Supplement Fund shall be administered by the Arkansas Fire and Police Pension Review Board. (c) Each year the Future Supplement Fund shall receive […]