§ 25-11-119. Administration of Article 3
The board shall keep such data as shall be necessary for actuarial valuation of the assets and liabilities of the system and for checking its operating experience. The board shall keep minutes which shall be open to public inspection. It shall have the accounts of the system audited annually by the State Audit Department and […]
§ 25-11-119.1. On-site compliance audits of employers by Public Employees’ Retirement System; penalties
The system may perform on-site compliance audits of employers to determine compliance with reporting, contributions, and certification requirements under this title. The system may request records to be provided by the employer at the time of the audit. Audits shall be conducted at the sole discretion of the system after reasonable notice to the employer […]
§ 25-11-120. Hearings and appeals for persons aggrieved by administrative determination relating to eligibility, payment of benefits or calculation of creditable service
Any individual aggrieved by an administrative determination, including a determination of the medical board, relating to the eligibility for or payment of benefits, or the calculation of creditable service or other similar matters relating to the Public Employees’ Retirement System or any other retirement system or program administered by the board, may request a hearing […]
§ 25-11-121. Investments
The board shall, from time to time, determine the current requirements for benefit payments and administrative expense which shall be maintained as a cash working balance, except that such cash working balance shall not exceed at any time an amount necessary to meet the current obligations of the system for a period of ninety (90) […]
§ 25-11-110. Inclusion of deceased member’s period of qualified military service for vesting purposes; survivors entitled to certain additional benefits; treatment of differential wage payments as compensation under certain circumstances
With respect to the death of a member that occurs while the member is performing qualified military service within the meaning of Section 414(u) of the Internal Revenue Code: The deceased member’s period of qualified military service must be counted for vesting purposes. To the extent required by Section 401(a)(37) of the Internal Revenue Code, […]
§ 25-11-111. Superannuation retirement
(1) Any member who became a member of the system before July 1, 2007, upon withdrawal from service upon or after attainment of the age of sixty (60) years who has completed at least four (4) years of membership service, or any member who became a member of the system before July 1, 2011, upon […]
§ 25-11-111.1. Payment of retirement benefits by the most appropriate means as determined by the board
The Public Employees’ Retirement System shall make payments of retirement benefits under this chapter to members and to the beneficiaries of those members, by whatever means the board prescribes by regulation to be the most appropriate for the proper and efficient payment of benefits, including, but not limited to, direct deposit to an account with […]
§ 25-11-101. Public employees’ retirement system established
A retirement system is hereby established and placed under the management of the board of trustees for the purpose of providing retirement allowances and other benefits under the provisions of this article for officers and employees in the state service and their beneficiaries. The retirement system provided by this article shall go into operation as […]
§ 25-11-103. Definitions
The following words and phrases as used in Articles 1 and 3, unless a different meaning is plainly required by the context, have the following meanings: “Accumulated contributions” means the sum of all the amounts deducted from the compensation of a member and credited to his or her individual account in the annuity savings account, […]
§ 25-11-105. Membership
I. THOSE WHO ARE ELIGIBLE FOR MEMBERSHIP The membership of this retirement system shall be composed as follows: (i) All persons who become employees in the state service after January 31, 1953, and whose wages are subject to payroll taxes and are lawfully reported on IRS Form W-2, except those specifically excluded, or as to […]