§ 24-11-213. Allocation of insurance premium tax — Apportionments
(a) (1) (A) The premium taxes collected under § 24-11-301 shall be placed in a fund combined with the premium taxes collected pursuant to § 24-11-809. (B) The combined fund shall be entitled the “Firemen’s and Police Officers’ Pension and Relief Fund”. (C) The Firemen’s and Police Officers’ Pension and Relief Fund shall consist of […]
§ 24-11-102. Increase in benefits
(a) The board of trustees of a municipal firemen’s relief and pension fund and the board of trustees of a policemen’s pension and relief fund are authorized to increase benefits for future or current retired members and beneficiaries of the firemen’s relief and pension fund or policemen’s pension and relief fund. (b) Any proposed increase […]
§ 24-11-214. Allocation of insurance premium tax — Division among localities
(a) An actuary certified by the Society of Actuaries shall evaluate the information submitted under this section and §§ 24-11-213 and 24-11-215 to determine the amount of the premium tax revenues to be directed to each city, town, or fire protection district. (b) (1) It is the intent of the General Assembly that the allocation […]
§ 24-11-103. Actuarial valuation
(a) The cost of actuarial valuation made under the provisions of § 24-11-102 shall be paid by the board of trustees of the firemen’s relief and pension fund or the board of trustees of the policemen’s pension and relief fund which proposes to increase member or beneficiary benefits under the fund. (b) The actuarial valuation […]
§ 24-11-215. Allocation of insurance premium tax — Special provisions
(a) Revenues distributed to the State of Arkansas as general revenue are subject to the allocations in this section. (b) (1) All taxes that are levied on insurers that are allocated to general revenues under § 24-11-213 may be allocated to the Fire Protection Premium Tax Fund, underfunded plans under § 24-11-217, and then to […]
§ 24-11-104. Rules
The Department of Finance and Administration is authorized to promulgate such reasonable rules as are necessary to carry out the provisions of §§ 24-11-301 and 24-11-809.
§ 24-11-105. Survivor benefits for spouses who remarry
The board of trustees of the local firemen’s relief and pension fund or the board of trustees of the local policemen’s pension and relief fund may elect to continue paying survivor benefits to spouses who remarry after they begin receiving benefits under the plan. However, before the election is effective, the election shall be approved […]
§ 24-11-201. Definitions
As used in this subchapter, unless the context otherwise requires: (1) “Accountant” means an accountant who is authorized by Arkansas law to practice public accounting in Arkansas; (2) “Actuary” means an actuary: (A) Who is a member of the American Academy of Actuaries or who meets other criteria for qualification which may be established by […]
§ 24-11-202. Noncompliance with subchapter
(a) If it is determined that a plan is not complying with the provisions of this subchapter, the Executive Director of the Arkansas Fire and Police Pension Review Board shall certify the noncompliance to the Secretary of the Department of Finance and Administration, who shall withhold all moneys otherwise due the plan from the state […]
§ 24-11-203. Arkansas Fire and Police Pension Review Board
(a) The purpose of this section, which creates and establishes the Arkansas Fire and Police Pension Review Board, is to establish a state pension review board for all municipal firemen’s relief and pension funds and policemen’s pension and relief funds established under §§ 14-52-106, 24-11-401 — 24-11-403, 24-11-405 — 24-11-413, 24-11-416, 24-11-417, 24-11-422, 24-11-423, 24-11-425, […]