As used in this act: (1) “Accumulated contributions” means the sum of all amounts deducted from the compensations of a member and credited to his or her individual account in the member’s deposit account, together with regular interest as may have been credited thereon; (2) “Actual service” means service credited at the rate of one […]
Any person who knowingly makes any false statements or who falsifies or permits to be falsified any record in an attempt to defraud the Arkansas Public Employees’ Retirement System as the result of such an act shall be guilty of a Class A misdemeanor.
(a) There is created and established a retirement system for the employees of the State of Arkansas and participating public employers to be known as the “Arkansas Public Employees’ Retirement System”. (b) All business of the system shall be transacted through a board of trustees as provided for in this act.
(a) The administration and control of the Arkansas Public Employees’ Retirement System shall be vested in a board called the “Board of Trustees of the Arkansas Public Employees’ Retirement System”. (b) The board shall consist of nine (9) trustees, as follows: (1) The Auditor of State, the Treasurer of State, and the Secretary of the […]
(a) (1) The Board of Trustees of the Arkansas Public Employees’ Retirement System shall hold meetings regularly, at least one (1) meeting in each quarter year, and shall designate the time and place of the meeting. (2) Special meetings may be held in accordance with such rules as the board shall adopt from time to […]
(a) (1) (A) Notwithstanding any provisions to the contrary, it is considered sound public policy to limit contributions by public employers to one (1) state-authorized retirement plan. Accordingly, effective July 1, 1999, employers participating in the Arkansas Public Employees’ Retirement System shall not establish any other state-authorized plan that requires contributions by the employer. (B) […]
The Board of Trustees of the Arkansas Public Employees’ Retirement System shall present to the Joint Committee on Public Retirement and Social Security Programs information concerning the statutory authority and actuarial appropriateness of proposed board actions to establish or revise a multiplier, any benefit, or a provision of a deferred retirement option plan.
(a) (1) It shall be considered sound public policy to encourage public employees in the State of Arkansas to participate in the development and growth of their individual retirement benefits. (2) In order that the Arkansas Public Employees’ Retirement System continues to maintain a strong funded status while ensuring that benefits provided to the annuitants […]
(a) The Board of Trustees of the Arkansas Public Employees’ Retirement System shall promulgate rules as it deems necessary from time to time in order to fully comply with federal requirements that may affect the members or the members’ benefits under this subchapter. (b) In meeting its obligation to its members, the board may promulgate […]
A retirant shall not begin receiving annuity payments until all requirements for terminating qualified employment are satisfied.
The failure to meet termination requirements does not revoke a member’s retirement election.
