§ 24-4-1108. Benefit provisions — Death in service
(a) (1) If an active member or former member with less than five (5) years of actual service dies while employed by a covered employer, the member’s accumulated contributions and interest are refundable to the named beneficiary. (2) If no designated person survives the member, the accumulated contributions will be paid in accordance with the […]
§ 24-4-1109. Maximum benefit limitation
(a) Benefits paid under this chapter shall not exceed the limitations of section 415 of the Internal Revenue Code that are applicable to governmental retirement plans. (b) (1) The Board of Trustees of the Arkansas Public Employees’ Retirement System is authorized to promulgate all rules necessary to implement the limitations of section 415 of the […]
§ 24-4-751. Additional funding for retirement benefits
(a) The government entity that had previously established a local municipal judge’s retirement fund shall be required to contribute an amount of money that represents the actuarially determined accrued liability for those judges and former judges who were covered by the local fund on December 31, 2004. (b) The assets in the local municipal judge […]
§ 24-4-1104. Annuity options
Before the date the first payment of a member’s annuity is due, a member may elect to receive the annuity as a straight life annuity or as one (1) of the reduced annuity options provided in § 24-4-606.
§ 24-4-752. State Police Trust Fund
(a) All assets of the State Police Retirement System are transferred to the Arkansas Public Employees’ Retirement System to hold in trust for the State Police Retirement System. (b) There is created under the Arkansas Public Employees’ Retirement System a division that shall be known as the “State Police Trust Fund”. (c) (1) The State […]
§ 24-4-1105. Deferred and early annuities
(a) Any member or former member with sufficient years of actual service to qualify for a vested termination annuity who has not attained normal retirement age may retire with an early annuity provided in § 24-4-510(a). (b) In the event a member with five (5) or more years of actual service in the Arkansas Public […]
§ 24-4-801. Participation
(a) In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees’ Retirement System pursuant to § 24-2-201 et seq. and § 24-4-101 et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in […]
§ 24-4-1106. Benefits — Death of retirant
(a) In the event a retirant receiving a straight life pension dies before the retirant has received an aggregate amount of straight life pension payments equal to the accumulated contributions credited in the retirant’s deposit account at the time of retirement, the difference between the accumulated contributions and the aggregate amount of straight life pension […]
§ 24-4-802. Eligibility — Effect of election
(a) When a member of the Arkansas Public Employees’ Retirement System elects participation in the Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan, the member shall fill out an application form as developed by the Board of Trustees of the Arkansas Public Employees’ Retirement System. The member’s application shall be reviewed to determine whether […]
§ 24-4-1107. Redetermination of benefits
(a) Each July 1 the Arkansas Public Employees’ Retirement System shall redetermine the amount of each monthly benefit that has been payable by the system for at least twelve (12) calendar months. The redetermined amount is payable for the following twelve (12) calendar months. (b) The redetermined amount is the amount of the benefit payable […]