In lieu of terminating employment and accepting a service retirement pension, any state police officer who is a member of Tier I of the State Police Retirement System who has not less than thirty (30) years of credited service and who is eligible to receive a service retirement pension may elect to participate in the […]
For purposes of this subchapter, credited service shall include service credit recognized pursuant to § 24-6-201(13).
(a) When a member begins participation in the Arkansas State Police Officers Deferred Option Plan, the employer contributions shall continue to be paid. (b) State contributions for employees who elect the plan shall be credited to the State Police Retirement System. (c) The monthly retirement benefits that would have been payable had the member elected […]
(a) The member’s monthly retirement benefit shall not change unless the Arkansas State Police Officers Deferred Option Plan receives a benefit increase. (b) (1) A member who participates in the plan shall earn interest at a rate set by the Board of Trustees of the State Police Retirement System that shall not be greater than […]
A participant in the Arkansas State Police Officers Deferred Option Plan shall receive, at the option of the participant, a lump-sum payment from the account equal to the payments to the account, or a true annuity based upon the account of the participant, or may elect any other method of payment if approved by the […]
(a) The duration of participation in the Arkansas State Police Officers Deferred Option Plan for active state police officers shall not exceed seven (7) years. (b) At the conclusion of a member’s participation in the plan, the member shall terminate employment with the Department of Arkansas State Police and shall start receiving the member’s accrued […]
If the participant dies during the period of participation in the Arkansas State Police Officers Deferred Option Plan, a lump-sum payment equal to the account balance of the participant shall be paid to the participant’s survivor.
