§ 24-2-602. Investment authority and limitations — Permissible investments
(a) The boards of trustees of the State Police Retirement System, the Arkansas Public Employees’ Retirement System, the Arkansas Teacher Retirement System, the Arkansas State Highway Employees’ Retirement System, and the Arkansas Judicial Retirement System shall have full power to invest and reinvest the moneys of the respective systems and to hold, purchase, sell, assign, […]
§ 24-2-305. Effect of promotion of nonteacher school employee
Other provisions of this subchapter to the contrary notwithstanding, a school janitor, bus driver, or cafeteria worker who is enrolled in one (1) of those positions as a member of the Arkansas Public Employees’ Retirement System and later is promoted to a position as school maintenance worker or supervisor, as bus mechanic or as transportation […]
§ 24-2-603. Investment authority and limitations — Default setoff
(a) In the event of default in payment of the principal or interest of any investment obligation held by any state retirement system where the issuer of the obligation receives moneys from the state, the default shall be certified by the board of the respective system to the Treasurer of State. (b) The Treasurer of […]
§ 24-2-306. Erroneous enrollment because of concurrent membership
Any member of the Arkansas Public Employees’ Retirement System who is erroneously enrolled in the Arkansas Public Employees’ Retirement System because of concurrent enrollment in another state-funded or state-authorized retirement system, other than Social Security, due to separate and distinct service for a public school or a municipality, may elect to remain a member of […]
§ 24-2-604. Investment authority and limitations — Conflict of interest
Except as to the rights of a member, retirant, or beneficiary, no trustee and no officer or employee of the board of any state retirement system shall have any interest, directly or indirectly, in the gains or profits of any investment made by the respective board. Nor shall any retirement system trustee, officer, or employee, […]
§ 24-2-401. Definitions
As used in this subchapter: (1) “Deferred retirement option plan” means an option for retirement under a reciprocal system whereby the retirement system members, in lieu of terminating employment, can continue with employment with covered employers and can accept a service retirement benefit pursuant to deferred retirement option plan provisions in § 24-7-1301 et seq. […]
§ 24-2-402. Deferred annuity — Eligibility — Definition
If a member of a reciprocal system left or leaves a position covered by a reciprocal system, if an employee in a position covered by a reciprocal system left the employ of a state employer before the latter position was covered by a reciprocal system, or if an employee in a position later covered by […]
§ 24-2-403. Date of annuity payment
(a) The date a member’s annuity, if any, becomes payable by each reciprocal system shall be determined by those provisions in force for each reciprocal system. (b) In no case shall any annuity become payable nor be paid prior to the date the member retires from, and ceases to be, in the employ of an […]
§ 24-2-404. Disbursement of annuities
(a) The boards of trustees of the reciprocal systems may enter into an agreement whereby the reciprocal system from which a member retires shall be the disbursing system for his or her annuities payable, as provided in this subchapter, by the other reciprocal systems. (b) The agreement shall provide, but shall not be limited to, […]
§ 24-2-405. Disability benefits
(a) A member of a reciprocal system with five (5) or more years of credited service in two (2) or more reciprocal systems shall be eligible to apply for disability benefits from each reciprocal system in which he or she has credited service. (b) Each reciprocal system shall make the determination under its respective rules […]