§ 24-8-717. Redetermination of benefits
Notwithstanding § 24-8-715 [repealed], each July 1 the Arkansas Judicial Retirement System shall redetermine the amount of each monthly benefit which has been paid by the system under the Tier Two Actual Judicial Service Benefit Plan for at least twelve (12) full calendar months. The redetermined amount shall be payable for the following twelve (12) […]
§ 24-8-714. Restrictions on benefits
(a) The sections of this subchapter are to be complementary, except that no person may take benefits under two (2) or more sections of this subchapter at the same time. (b) Retirement and survivors’ benefits shall be measured by the salary payable for the position last held by the retired or deceased judge or justice […]
§ 24-8-716. Effect on other laws
The provisions of this subchapter shall be accumulative to all present laws pertaining to the retirement of judges of the circuit, chancery, and circuit-chancery courts and of justices of the Supreme Court and shall in no way repeal, amend, or modify such laws except as otherwise specifically provided in this subchapter.
§ 24-8-701. Legislative history, findings, and intent
(a) It is found and determined by the General Assembly that the creation of the Tier Two Actual Judicial Service Benefit Plan is part of a history of judicial retirement legislation that has sought to develop a more equitable retirement system for judges and thereby remove the need for judges to be involved in the […]
§ 24-8-702. Definitions
As used in this subchapter: (1) “Board” means the Board of Trustees of the Arkansas Judicial Retirement System; (2) “Consumer price index” means the Consumer Price Index for all Urban Consumers, as determined by the United States Department of Labor, in effect on January 1, 1999, except that if the consumer price index is subsequently […]
§ 24-8-703. Creation of Tier Two Actual Judicial Service Benefit Plan
A Tier Two Actual Judicial Service Benefit Plan for the Arkansas Judicial Retirement System is established pursuant to this subchapter.
§ 24-8-704. Membership generally
(a) Whether elected or appointed to office, all chancery, circuit, and circuit-chancery judges, judges of the Court of Appeals, and justices of the Supreme Court shall participate in the Arkansas Judicial Retirement System. (b) A person who becomes a member of the system on or after July 30, 1999, shall participate in the Tier Two […]
§ 24-8-705. Members electing coverage
(a) A member electing coverage under this subchapter shall be entitled to: (1) A refund to the member for any credited service purchased under the Arkansas Judicial Retirement System together with six percent (6%) interest compounded annually from the date of payment; (2) Restoration of service to another state-supported retirement system of any credited service […]
§ 24-8-706. Contributions — Members — Refund
(a) The contribution of each member of the Tier Two Actual Judicial Service Benefit Plan for the Arkansas Judicial Retirement System shall be five percent (5%) of each member’s annual salary. (b) If a judge or justice ceases to be a member prior to qualifying for retirement benefits, he or she shall be entitled to […]
§ 24-8-707. Contributions — State
(a) The state, as employer, shall make contributions to the Arkansas Judicial Retirement System of twelve percent (12%) of the active member payroll. (b) The Chief Fiscal Officer of the State is authorized and directed to make annual transfers each July 1 to the Judges Retirement Fund from the Constitutional Officers Fund and the State […]