(a) In lieu of terminating employment and accepting a retirement benefit under the Arkansas Public Employees’ Retirement System pursuant to § 24-2-201 et seq. and § 24-4-101 et seq., any person who is a member of the system and who meets the conditions specified in subsection (b) of this section may elect to participate in […]
(a) When a member of the Arkansas Public Employees’ Retirement System elects participation in the Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan, the member shall fill out an application form as developed by the Board of Trustees of the Arkansas Public Employees’ Retirement System. The member’s application shall be reviewed to determine whether […]
(a) (1) The member’s deferred benefit shall be the monthly benefit to which the member would have been entitled if the member had thirty (30) years of service and had actually retired on the member’s deferred retirement option date with regard to the provisions of § 24-4-606 related to annuity options. (2) If the member […]
(a) The member’s participation in the Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan shall cease at the time the member separates from service. (b) (1) (A) When the member’s participation in the plan ceases, the member shall elect to receive the balance in the deferred option account as either a lump sum or […]
(a) In the event that an Arkansas Public Employees’ Retirement System Deferred Retirement Option Plan participant dies, the benefits payable from the Arkansas Public Employees’ Retirement System shall be determined as though the participant had separated from service and been found eligible for monthly benefits by the Board of Trustees of the Arkansas Public Employees’ […]
(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 […]
