§ 24-2-303. Erroneous enrollment before January 1, 1979
(a) Any employee who was erroneously enrolled in a state retirement system before January 1, 1979, and whose contributions have not been refunded prior to March 26, 1979, shall continue to be a member of the retirement system of record. (b) The member shall receive service credit for all paid membership service in the retirement […]
§ 24-2-601. Investment authority and limitations generally
(a) All investments of the retirement systems covered by this subchapter shall be in strict compliance with the provisions of this subchapter. (b) The term “trust” as used in this subchapter refers to the following Arkansas retirement systems: (1) The State Police Retirement System; (2) The Arkansas Public Employees’ Retirement System; (3) The Arkansas Teacher […]
§ 24-2-304. Erroneous enrollment on or after January 1, 1979
(a) (1) When it is discovered by an employee, employer, or a state retirement system that an employee became erroneously enrolled in a state retirement system on or after January 1, 1979, the employee may elect to remain a member of the retirement system of record or may become a member of the eligible retirement […]
§ 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. […]
§ 24-2-201. Permissible investments of political subdivision retirement funds
(a) The board of trustees of any public employee retirement system of any political subdivision of the State of Arkansas shall, from time to time, as funds are available for investment purposes, invest in obligations set out in this section. (b) The boards of trustees of public employees retirement systems of political subdivisions of the […]