§ 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 […]
§ 24-4-803. Amount of benefit — Amount of contribution — Interest
(a) (1) The member’s deferred benefit shall be the monthly benefit to which the member would have been entitled if the member had thirty (30) years of service and had actually retired on the member’s deferred retirement option date with regard to the provisions of § 24-4-606 related to annuity options. (2) If the member […]
§ 24-4-804. Cessation of participation — Definition
(a) The member’s participation in the Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service. (b) (1) (A) When the member’s participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or […]
§ 24-4-805. Death or disability
(a) In the event that an Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan participant dies, the benefits payable from the Arkansas Public Employees’ Retirement System shall be determined as though the participant had separated from service and been found eligible for monthly benefits by the Board of Trustees of the Arkansas Public Employees’ […]
§ 24-4-806. Limitation on benefit enhancement
(a) No benefit enhancement provided for by this subchapter shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. (b) No benefit enhancement provided for by this subchapter shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized […]
§ 24-4-901. Credited service — Reciprocity
(a) (1) Upon the retirement of a member whose credited service results from employment covered by: (A) The Arkansas Public Employees’ Retirement System; (B) The State Police Retirement System; (C) The Arkansas Teacher Retirement System; (D) The Arkansas State Highway Employees’ Retirement System; (E) The Arkansas Judicial Retirement System; (F) An alternate retirement plan under […]
§ 24-4-1001. Determination of benefits for wildlife officers — Responsibility for additional costs
(a) For purposes of determining benefits under this chapter, all credited service, whenever earned, of persons employed as wildlife officers of the Arkansas State Game and Fish Commission on July 4, 1983, and of persons thereafter employed in such positions prior to July 1, 1997, shall be treated as public safety member service. (b) The […]
§ 24-4-1002. Benefit provisions — Subjection of annuity rights to process of law
(a) The right of a person to an annuity, to the return of accumulated contributions, the annuity itself, any annuity option, any other right accrued or accruing under the provisions of § 24-4-101 et seq., and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or […]
§ 24-4-1003. Benefit provisions — Inspection of records
All records kept by an Arkansas public retirement system, whether required to be kept by law or board policy, shall be open to public inspection as provided in § 25-19-105, except that individual member’s records which are kept for the purpose of compiling information for the member’s retirement or Social Security records shall not be […]
§ 24-4-1004. Determination of benefits for civilian firefighters of State Military Department or Department of the Military — Responsibility for additional costs
(a) For purposes of determining benefits under this chapter, all credited service, whenever earned, of persons employed as civilian firefighters of the State Military Department or Department of the Military as of July 1, 1997, and of persons thereafter employed in those positions shall be treated as public safety member service if the position is […]