§ 24-6-507. Duration
(a) The duration of participation in the Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan for an active state police officer shall not exceed seven (7) years. (b) At the conclusion of a state police officer’s participation in the plan, the state police officer shall: (1) Terminate employment with the Department of Arkansas […]
§ 24-6-508. Death of participant
If a participant in the Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan dies during the period of participation in the plan, a lump-sum payment equal to the plan account balance of the participant shall be paid to the participant’s designated beneficiary.
§ 24-6-411. Benefit provisions — Death
(a) If an active member with five (5) or more years of actual service, including service for the year immediately preceding his or her death, dies in employer service before retirement, the applicable benefit provided in this section shall be paid upon written application to the Board of Trustees of the State Police Retirement System. […]
§ 24-6-412. Refund of contributions
(a) (1) In the event a member leaves the employ of the Division of Arkansas State Police prior to the date he or she becomes entitled to retire with a pension payable from the funds of the State Police Retirement System, he or she shall be paid, upon his or her written application filed with […]
§ 24-6-413. 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 this subchapter, and all moneys belonging to a plan shall not be subject to execution, garnishment, attachment, the operation of bankruptcy or insolvency laws, […]
§ 24-6-414. Maximum benefit limitation
(a) Notwithstanding any other provisions of this chapter, benefits paid under the provisions of this chapter shall not exceed the limitations of the Internal Revenue Code, 26 U.S.C. § 415 that are applicable to governmental retirement plans. (b) (1) The Board of Trustees of the State Police Retirement System is hereby empowered and authorized to […]
§ 24-6-415. Exclusion from plan
Members of the State Police Retirement System participating in the benefit program provided by this subchapter shall not be eligible for participation in the Arkansas State Police Officers’ Deferred Option Plan provided in § 24-6-301 et seq.
§ 24-6-501. Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan — Creation
The Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan is created in conformance with this subchapter.
§ 24-6-502. Election to participate in Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan
In lieu of terminating employment and accepting a service retirement pension, a state police officer may elect to participate in the Arkansas State Police Officers’ Tier Two Deferred Retirement Option Plan and defer the receipt of benefits in accordance with this subchapter if: (1) The state police officer: (A) Is a member of the State […]
§ 24-6-402. Membership
(a) All state police officers first hired on or after April 3, 1997, shall be covered by the benefit provision of this subchapter. (b) (1) All state police officers who were hired prior to April 3, 1997, and who are active members of the State Police Retirement System on April 3, 1997, shall have twelve […]