§ 24-5-204. Rules — Applicability
(a) The Board of Trustees of the Arkansas State Highway Employees’ Retirement System, in consultation with its actuary, may promulgate rules to lower the required years of service for entry into the Arkansas State Highway Employees’ Deferred Retirement Option Plan authorized by this subchapter, subject to any early participation reduction. The reduction will be computed […]
§ 24-5-128. Increase in monthly retirement benefit — 1993
(a) Effective July 1, 1993, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees’ Retirement System who are entitled to receive an annuity for July 1993 shall be increased by two and nine-tenths percent (2.9%) above the annuity such retiree or beneficiary received for June 1993. (b) The […]
§ 24-5-129. Increase in monthly retirement benefit — Acts 1997, No. 349
(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees’ Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two and two-tenths percent (2.2%) above the annuity such retiree or beneficiary received for June 1997. (b) The […]
§ 24-5-130. Increase in monthly retirement benefit — Acts 1997, No. 386
(a) Effective July 1, 1997, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees’ Retirement System who are entitled to receive an annuity for July 1997 shall be increased by two percent (2%) above the annuity such retiree or beneficiary received for June 1997. (b) The increase in […]
§ 24-5-131. Limitation on benefit enhancement of Acts 1997, No. 1089
No benefit enhancement provided for by § 24-5-116 shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-5-116 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a […]
§ 24-5-132. Limitation on benefit enhancement of Acts 1997, No. 1067
No benefit enhancement provided for by § 24-5-118 shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-5-118 shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized over a […]
§ 24-5-133. Early participation
The Board of Trustees of the Arkansas State Highway 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 any benefit or a provision of a deferred retirement option plan.
§ 24-5-134. Death benefit enhancement
(a) (1) Beginning on March 1, 2001, the Arkansas State Highway Employees’ Retirement System shall pay an amount not to exceed seven thousand five hundred dollars ($7,500) to the named beneficiary of the retiree or a member in the Arkansas State Highway Employees’ Deferred Retirement Option Plan immediately following the retiree’s death. (2) If there […]
§ 24-5-135. Annuity benefit enhancement
(a) Beginning July 1, 2001, the monthly retirement benefit payable to the retirees and beneficiaries of the Arkansas State Highway Employees’ Retirement System who are entitled to receive an annuity for July 2001 shall be increased by four and eight-tenths percent (4.8%) above the annuity the retiree or beneficiary received for June 2001. (b) The […]
§ 24-5-136. Operation of system as qualified trust
(a) The Executive Secretary of the Board of Trustees of the Arkansas State Highway Employees’ Retirement System shall operate the Arkansas State Highway Employees’ Retirement System and interpret any provisions of this chapter consistent with the requirements under the Internal Revenue Code as it existed on January 1, 2007, and applicable United States Treasury regulations […]