Title 24 — Retirement and Pensions

All assets and income of any state-supported retirement system administered by an agency of the State of Arkansas shall be held, invested, or disbursed for the exclusive purpose of providing for benefits, investment management, and administrative expenses, including the acquisiti…

(a) Annually, each Arkansas state-supported retirement system shall make a valuation of each system's assets and incomes for the system. (b) Actuarial assumptions and methods which are used for the annual valuation of each Arkansas state-supported retirement system shall be set b…

No contribution rate of any state-supported retirement system in effect on March 14, 1995, shall be changed except by a vote of the General Assembly.

No legislated benefit enhancement shall be enacted which would cause the system's unfunded accrued actuarial liabilities to exceed a thirty-year amortization.

When any retirement system on or after March 14, 1995, has unfunded actuarial accrued liabilities being amortized over a period exceeding thirty (30) years, that system shall not have a legislated benefit enhancement until the unfunded actuarial accrued liability is reduced to a …

(a) No benefit enhancement provided for by §§ 24-2-302, 24-2-306, 24-2-401, 24-2-402, 24-2-501, § 24-3-102 [repealed], § 24-3-106 [repealed], § 24-3-201 [repealed], § 24-3-208 [repealed], § 24-3-209 [repealed], § 24-3-301 [repealed], § 24-3-303 [repealed], § 24-3-304 [repealed], …

(a) (1) The Board of Trustees of the Arkansas Public Employees' Retirement System and the Board of Trustees of the Arkansas Teacher Retirement System shall establish policies and promulgate rules to recognize the service credit for members of the Arkansas Public Employees' Retire…

(a) The purpose of this section is to provide notice to an applicant for concurrent employment in a public employee position that the concurrent employment might affect the employee's retirement benefits and to allow the employee and employer an opportunity to consider an alterna…

In order to extend to employees of the State of Arkansas and its political subdivisions and the employees' dependents and survivors the basic protection accorded to others by the federal old age, survivors' and disability insurance, and health insurance coverage embodied in the S…

(1) As used in this subchapter:(1) “Commissioner of Social Security” means any individual to whom the Commissioner of Social Security has delegated any of his or her functions under the Social Security Act, 42 U.S.C. § 301 et seq., with respect to coverage under that act of emplo…

The Arkansas Public Employees' Retirement System shall make and publish rules not inconsistent with the provisions of this subchapter it finds necessary or appropriate to the efficient administration of the functions with which it is charged under this subchapter.

(a) The Arkansas Public Employees' Retirement System is authorized to enter, on behalf of the state, into a Section 218 agreement consistent with the terms and provisions of this subchapter, with the Commissioner of Social Security for the purpose of extending the benefits of the…

(1) Each political subdivision of the state is authorized to submit for approval by the Arkansas Public Employees' Retirement System a plan for extending the benefits of Title II of the Social Security Act, 42 U.S.C. § 301 et seq., in conformity with the applicable provisions of …

(a) For the purpose of entering into agreements with the Arkansas Public Employees' Retirement System, the following named officers are authorized and empowered to make the agreement on behalf of their agency or political subdivision:(1) (A) (i) The board of control of each state…

(a) Every employee of the state whose service is covered by a Section 218 agreement entered into under § 24-1-204 shall be required to pay contributions for the period of the coverage with respect to wages as defined in § 24-1-202, equal to the amount of tax levied under the Soci…

(a) (1) Each political subdivision as to which a plan has been approved under § 24-1-205, with respect to wages as defined in § 24-1-202 and at such time or times as the Arkansas Public Employees' Retirement System may by rule prescribe, shall pay contributions in the amounts and…

(a) The Arkansas Public Employees' Retirement System shall make studies concerning the problem of old age, survivors' and disability insurance, and health insurance protection for employees of the state and its political subdivisions and studies concerning the operation of agreem…

(1) As used in this subchapter:(1) “Beneficiary” means an individual who receives or is designated by a member or retirant to receive a plan benefit under a retirement system; and(2) “Retirement system” means:(A) The Arkansas Teacher Retirement System, established by the Arkansas…

(a) (1) A beneficiary forfeits his or her right to benefit payments under a retirement system if he or she:(A) Is convicted by a court of competent jurisdiction of the unlawful killing of the member or retirant;(B) Pleads guilty or nolo contendere to the unlawful killing of the m…

(a) A retirement system may suspend benefit payments to a beneficiary if the retirement system:(1) Receives the written notice required under § 24-1-304 from a prosecuting attorney; or(2) Has reasonable cause to believe that the beneficiary will be charged with the unlawful killi…

(a) A prosecuting attorney shall send written notice by certified mail, return receipt requested, to the executive director or executive secretary of the applicable retirement system when a beneficiary:(1) Is charged with an offense described under § 24-1-302; or(2) (A) Will not …

(a) (1) The executive director or executive secretary of the applicable retirement system or his or her designee shall notify a beneficiary when benefits shall not be paid as provided under § 24-1-302.(2) The notice provided under subdivision (a)(1) of this section shall advise t…