§ 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 […]
§ 24-11-213. Allocation of insurance premium tax — Apportionments
(a) (1) (A) The premium taxes collected under § 24-11-301 shall be placed in a fund combined with the premium taxes collected pursuant to § 24-11-809. (B) The combined fund shall be entitled the “Firemen’s and Police Officers’ Pension and Relief Fund”. (C) The Firemen’s and Police Officers’ Pension and Relief Fund shall consist of […]
§ 24-11-214. Allocation of insurance premium tax — Division among localities
(a) An actuary certified by the Society of Actuaries shall evaluate the information submitted under this section and §§ 24-11-213 and 24-11-215 to determine the amount of the premium tax revenues to be directed to each city, town, or fire protection district. (b) (1) It is the intent of the General Assembly that the allocation […]
§ 24-11-215. Allocation of insurance premium tax — Special provisions
(a) Revenues distributed to the State of Arkansas as general revenue are subject to the allocations in this section. (b) (1) All taxes that are levied on insurers that are allocated to general revenues under § 24-11-213 may be allocated to the Fire Protection Premium Tax Fund, underfunded plans under § 24-11-217, and then to […]