§ 24-5-123. Credit for military service
(a) Any person who is a member of the Arkansas State Highway Employees’ Retirement System shall be entitled to purchase creditable service in the system for a period not to exceed three (3) years for active service rendered by the member in the United States Armed Forces, after the member’s first employment in a position […]
§ 24-5-124. Minimum monthly benefit
All persons who are now vested or who hereafter vest under the Arkansas Public Employees’ Retirement System or the Arkansas State Highway Employees’ Retirement System shall be entitled to a minimum monthly benefit of one hundred fifty dollars ($150).
§ 24-5-125. Eligibility to receive increase in benefits
(a) (1) In order to help offset the cost of health insurance and health care, a member who is receiving benefits from the Arkansas State Highway Employees’ Retirement System before, on, or subsequent to July 1, 1999, shall have added to his or her annuity as determined under § 24-5-115 no less than the sum […]
§ 24-5-126. Increase in benefits
(a) Effective July 1, 1991, 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 1991 shall be increased by four percent (4%) above the annuity such retiree or beneficiary received for June 1991. (b) The increase in […]
§ 24-5-127. Creditable service
(a) Any employee of the Arkansas State Highway and Transportation Department or the Arkansas Department of Transportation who is a member of the Arkansas State Highway Employees’ Retirement System and who has served as a member of the State Highway Commission shall receive partial credit, equal to forty percent (40%) of the time the member […]
§ 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 […]