§ 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 […]
§ 24-5-102. Penalty
Any person who knowingly makes any false statement or who falsifies any record or records in an attempt to defraud the Arkansas State Highway Employees’ Retirement System as a result of such an act shall be guilty of a Class A misdemeanor.
§ 24-5-119. Redetermination of benefits
(a) Beginning with the July 1 which is at least twelve (12) full months after the effective date of each benefit, the amount of each benefit shall be redetermined, and the redetermined amount shall be payable for the ensuing year. (b) (1) The redetermined amount shall be the amount of the benefit otherwise payable as […]
§ 24-5-103. Establishment of system
There is created and established a retirement system for employees of the Arkansas Department of Transportation to be known as the “Arkansas State Highway Employees’ Retirement System”, all the business of which shall be transacted through a board of trustees as provided for in this chapter.