§ 24-11-212. Future Supplement Fund
(a) A Future Supplement Fund is created for the purpose of providing cost-of-living assistance and minimum-benefit-amount assistance to policemen’s pension and relief funds and firemen’s relief and pension funds. (b) The Future Supplement Fund shall be administered by the Arkansas Fire and Police Pension Review Board. (c) Each year the Future Supplement Fund shall receive […]
§ 24-11-101. Legislative intent
(a) The provisions of this subchapter are intended to establish procedures whereby the benefits to members and beneficiaries under the firemen’s relief and pension funds and the policemen’s pension and relief funds within the respective municipalities of this state may be increased on an orderly basis without a deterioration of actuarial soundness and are further […]
§ 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 […]
§ 24-10-619. Limitation on benefits granted by Acts 1997, No. 1136
No benefit enhancement provided for by §§ 24-10-604, 24-10-605, and 24-10-611 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 §§ 24-10-604, 24-10-605, and 24-10-611 shall be implemented by any publicly supported system which has unfunded actuarial […]