As used in this subchapter: (1) “Deferred retirement option plan” means an option for retirement under a reciprocal system whereby the retirement system members, in lieu of terminating employment, can continue with employment with covered employers and can accept a service retirement benefit pursuant to deferred retirement option plan provisions in § 24-7-1301 et seq. […]
If a member of a reciprocal system left or leaves a position covered by a reciprocal system, if an employee in a position covered by a reciprocal system left the employ of a state employer before the latter position was covered by a reciprocal system, or if an employee in a position later covered by […]
(a) The date a member’s annuity, if any, becomes payable by each reciprocal system shall be determined by those provisions in force for each reciprocal system. (b) In no case shall any annuity become payable nor be paid prior to the date the member retires from, and ceases to be, in the employ of an […]
(a) The boards of trustees of the reciprocal systems may enter into an agreement whereby the reciprocal system from which a member retires shall be the disbursing system for his or her annuities payable, as provided in this subchapter, by the other reciprocal systems. (b) The agreement shall provide, but shall not be limited to, […]
(a) A member of a reciprocal system with five (5) or more years of credited service in two (2) or more reciprocal systems shall be eligible to apply for disability benefits from each reciprocal system in which he or she has credited service. (b) Each reciprocal system shall make the determination under its respective rules […]
(a) No benefit enhancement provided for by this subchapter shall be implemented if it would cause the publicly supported retirement system’s unfunded actuarial accrued liabilities to exceed a thirty-year amortization. (b) No benefit enhancement provided for by this subchapter shall be implemented by any publicly supported system which has unfunded actuarial accrued liabilities being amortized […]
In establishing credited service under this subchapter, persons who receive credited service pursuant to § 24-4-101(17)(B)(xiii) for dual full-time employment in the Arkansas Public Employees’ Retirement System and the Arkansas Local Police and Fire Retirement System under the provisions of this act may count periods of credited service covering the same calendar time only once […]
