Title 24 — Retirement and Pensions
12 chapters · 740 sections in this title.
Ark. Code Ann. § 24-10-101 Purpose
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The purpose of this chapter, which creates and establishes the Arkansas Local Police and Fire Retirement System, is to establish a benefit program for future police officers and firefighters in Arkansas and to establish a statewide retirement system which will have the advantages…
Ark. Code Ann. § 24-10-102 Definitions
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(1) As used in this chapter:(1) (A) “Accumulated contributions” means the total of all amounts contributed by a member and standing to his or her credit in his or her individual account in the Arkansas Local Police and Fire Retirement System, together with regular interest thereo…
Ark. Code Ann. § 24-10-103 Tax exemption
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(a) The benefits payable by, and the assets of, the Arkansas Local Police and Fire Retirement System are exempt from taxes by the state or any political subdivision or agency thereof. (b) The system shall be treated in the same manner as the Civil Service Retirement System for pu…
Ark. Code Ann. § 24-10-104 Correction of errors
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(a) Should any change or error in records result in any person receiving from the Arkansas Local Police and Fire Retirement System more or less than he or she would have been entitled to receive had the records been correct, the Board of Trustees of the Arkansas Local Police and …
Ark. Code Ann. § 24-10-105 Penalty
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Any person who knowingly makes any false statement or who falsifies or permits to be falsified any record or records in any attempt to defraud the Arkansas Local Police and Fire Retirement System shall be guilty of a criminal act and upon conviction thereof shall be punished acco…
Ark. Code Ann. § 24-10-106 Limitation on benefit enhancement of Acts 1997, No. 769
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No benefit enhancement provided for by § 24-10-102(23) shall be implemented if it would cause the publicly supported retirement system's unfunded actuarial accrued liabilities to exceed a thirty-year amortization. No benefit enhancement provided for by § 24-10-102(23) shall be im…
Ark. Code Ann. § 24-10-107 Direct deposit of insurance premium tax money into system
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(a) The Arkansas Fire and Police Pension Review Board and the Board of Trustees of the Arkansas Local Police and Fire Retirement System are directed to develop and adopt appropriate rules and procedures to allow insurance premium tax money that is allocated to the Arkansas Local …
Ark. Code Ann. § 24-10-201 Members and terms
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(a) The general administration and the responsibility for the proper operation of the Arkansas Local Police and Fire Retirement System and for making effective the provisions of this chapter are vested in a board of trustees of seven (7) persons as follows:(1) One (1) person to b…
Ark. Code Ann. § 24-10-202 Vacancies
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(a) In the event any member trustee ceases to be a member of the Arkansas Local Police and Fire Retirement System, or if any employer trustee ceases to be an appointed or elected official of an employer or becomes a member of the system, or if the citizen trustee becomes a member…
Ark. Code Ann. § 24-10-203 Proceedings
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(a) (1) (A) Each trustee shall be entitled to one (1) vote on the Board of Trustees of the Arkansas Local Police and Fire Retirement System.(B) Three (3) votes shall be necessary for a decision by the trustees at any meeting of the board.(2) Three (3) trustees, of whom at least o…
Ark. Code Ann. § 24-10-204 Employees
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(a) (1) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall employ an executive director, not one of its number, for at least three (3) years, who shall be the executive officer of the board.(2) Other employees of the board shall be chosen only upo…
Ark. Code Ann. § 24-10-205 Records and reports
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(a) (1) After receiving the advice of its actuary, the Board of Trustees of the Arkansas Local Police and Fire Retirement System shall from time to time adopt such mortality and other tables of experience, and rates of regular interest, as shall be necessary for the actuarial req…
Ark. Code Ann. § 24-10-206 Federal taxation
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(a) The Plan Administrator of the Arkansas Local Police and Fire Retirement System shall operate the Arkansas Local Police and Fire Retirement System and interpret § 24-10-101 et seq. consistent with the Internal Revenue Code of 1986, 26 U.S.C. § 1 et seq., as it existed on Janua…
Ark. Code Ann. § 24-10-301 Generally
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(a) The membership of the Arkansas Local Police and Fire Retirement System shall include the following persons:(1) If his or her employer had its firefighters covered by a relief fund on the operative date, each person first employed as a firefighter on or after the operative dat…
Ark. Code Ann. § 24-10-302 Coverage by employer
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(a) Each political subdivision without a relief fund in effect on the operative date may elect, by a majority vote of its governing body, to become an employer and cover its employees under the Arkansas Local Police and Fire Retirement System, as follows:(1) (A) The clerk or secr…
Ark. Code Ann. § 24-10-303 Rules governing participation
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The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall have the authority to promulgate such rules as are necessary to provide for the participation of employers that are rural fire protection corporations authorized under the provisions of § 4-34-101…
Ark. Code Ann. § 24-10-304 Transfer of municipal police department officers from Arkansas Public Employees' Retirement System
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(a) Any municipal police department whose employees were covered by the Arkansas Public Employees' Retirement System on July 1, 1997, is authorized to transfer those employees hired after July 1, 1997, to the Arkansas Local Police and Fire Retirement System by:(1) Notifying the b…
Ark. Code Ann. § 24-10-401 Financial objectives and actuarial valuations
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(a) (1) The general financial objective of the Arkansas Local Police and Fire Retirement System and of each employer shall be to establish and receive contributions, expressed as percents of active employee pays, which will remain approximately level from year to year and which w…
Ark. Code Ann. § 24-10-402 Investments — Definition
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(a) (1) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall be the trustee of the funds of the Arkansas Local Police and Fire Retirement System, subject to the other provisions of this subchapter.(2) The funds of the system shall be invested and re…
Ark. Code Ann. § 24-10-403 Asset accounts
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(1) All the assets of the Arkansas Local Police and Fire Retirement System shall be held in four (4) accounts, namely:(1) The members' deposit account;(2) The employer accumulation account;(3) The retirement reserve account; and(4) The income-expense account. (1) The members' dep…
Ark. Code Ann. § 24-10-404 Members' deposit account — Contributions
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(a) The members' deposit account, as created by § 24-10-403, shall be the account in which shall be accumulated the contributions made by members to the Arkansas Local Police and Fire Retirement System and from which shall be made transfers and refunds of members' contributions a…
Ark. Code Ann. § 24-10-405 Employer accumulation account — Contributions
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(a) The employer accumulation account as created by this section shall be the account into which contributions made by employers for annuities shall be accumulated and from which transfers shall be made as provided in this chapter. (b) Employer contributions paid to the Arkansas …
Ark. Code Ann. § 24-10-406 Retirement reserve account
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The retirement reserve account, as created by this section, shall be the fund into which shall be made transfers as provided in this chapter and from which shall be paid to retirants and beneficiaries the annuities provided by the Arkansas Local Police and Fire Retirement System.
Ark. Code Ann. § 24-10-407 Income-expense account
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(a) The income-expense account, as created by this section, shall be the account to which shall be credited all investment income from invested assets of the Arkansas Local Police and Fire Retirement System, in which shall be accumulated the contributions made by employers for th…
Ark. Code Ann. § 24-10-408 State contributions — System administrative expenses
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(a) Subject to the provisions of this chapter, the state shall not contribute to finance the Arkansas Local Police and Fire Retirement System, except those amounts which the political subdivision may receive under laws providing for a general apportionment of political subdivisio…
Ark. Code Ann. § 24-10-409 Proration of state revenues between political subdivision and its relief fund
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(a) For each political subdivision with a relief fund in effect, the relief fund has been receiving revenues from the state derived from the taxes levied on foreign and domestic insurers by the Arkansas Insurance Code, and §§ 24-11-301, 24-11-801 — 24-11-807, 24-11-809, 24-11-813…
Ark. Code Ann. § 24-10-410 Delinquency
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(a) If a political subdivision fails to make a payment or reporting due the Arkansas Local Police and Fire Retirement System within five (5) calendar days of the date the payment or reporting is due, the political subdivision shall become delinquent, and the delinquency shall be …
Ark. Code Ann. § 24-10-411 [Repealed.]
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A.C.A. § 24-10-411Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-10-501 Paid and volunteer service
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(a) (1) The Board of Trustees of the Arkansas Local Police and Fire Retirement System shall fix and determine by rules the number of years and months of paid service to be credited to each member for his or her employment as an employee.(2) In no case shall one (1) month of paid …
Ark. Code Ann. § 24-10-502 Military service
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(a) In the event a member who while an employee enters the United States Armed Forces during any period of compulsory or voluntary military service, the armed service actually served by him or her shall be credited him or her as service under this subchapter. (b) (1) In any case …
Ark. Code Ann. § 24-10-503 [Repealed.]
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A.C.A. § 24-10-503Current through all legislation of the 2025 Regular Session.Arkansas Code of 1987 Annotated Official EditionCopyright © 2026 by the State of Arkansas All rights reserved
Ark. Code Ann. § 24-10-504 Forfeiture and restoration
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(a) (1) When a member is no longer employed by any employer in covered employment, he or she shall cease to be a member of the Arkansas Local Police and Fire Retirement System.(2) Except as otherwise provided in this chapter, upon termination of his or her membership his or her c…
Ark. Code Ann. § 24-10-505 Public service with other Arkansas systems — Definition
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(a) For the purpose of this section, “related system” means any of four (4) retirement systems:(1) The Arkansas Local Police and Fire Retirement System;(2) The Arkansas Public Employees' Retirement System;(3) The State Police Retirement System; or(4) The Arkansas Teacher Retireme…
Ark. Code Ann. § 24-10-506 Other local police and fire service
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(a) An active member of the Arkansas Local Police and Fire Retirement System shall be entitled to purchase credited service in the system equivalent to a period not to exceed fifteen (15) years if the member:(1) (A) Has at least five (5) years of actual service with the system.(B…
Ark. Code Ann. § 24-10-507 Reciprocal system
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(a) (1) The Arkansas Local Police and Fire Retirement System is a reciprocal system under the provisions of §§ 24-2-401 — 24-2-405.(2) For the purpose of reciprocal service credit under the Arkansas Local Police and Fire Retirement System, only an Arkansas statewide defined benef…
Ark. Code Ann. § 24-10-508 Service credit
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(a) An active member of the Arkansas Local Police and Fire Retirement System who has at least five (5) years of actual service and who has service in an Arkansas law enforcement agency or fire department and who has been employed as a public safety or law enforcement officer in a…
Ark. Code Ann. § 24-10-509 Service credit not years of service
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Service credit granted under § 24-10-508 shall not be considered as years of service for the purpose of benefit calculation.
Ark. Code Ann. § 24-10-510 Service credit for former military personnel
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(a) An active member of the Arkansas Local Police and Fire Retirement System may purchase credited service in the system equivalent to a period not to exceed five (5) years for service rendered by the member while on active duty in the United States Armed Forces before the member…
Ark. Code Ann. § 24-10-601 Generally
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No benefit shall be paid by the Arkansas Local Police and Fire Retirement System based upon pay which is covered by any other retirement plan, except Social Security.
Ark. Code Ann. § 24-10-602 Annuity generally — Definitions
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(a) Upon a member's retirement, he or she shall receive an annuity for life in accordance with the applicable benefit program elected by his or her employer, as follows:(1) Benefit Program 1. (A) For each year of paid service resulting from employment:(i) In a position not also c…
Ark. Code Ann. § 24-10-603 Annuity options
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(a) Before the date the first payment of a member's annuity becomes due, but not thereafter, a member may elect in a manner prescribed by the Arkansas Local Police and Fire Retirement System to receive his or her annuity as an Option A60 annuity under this section, or the member …
Ark. Code Ann. § 24-10-604 Voluntary retirement
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(a) (1) A member in covered employment may retire with an annuity provided for in § 24-10-602 upon his or her written application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System setting forth at what time, at least thirty (30) days but not more th…
Ark. Code Ann. § 24-10-605 Compulsory retirement
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(a) A member's employer shall determine the compulsory separation age for its employees. (b) Upon his or her separation from his or her last covered employment, a member with five (5) or more years of credited service in force who has attained his or her normal retirement age sha…
Ark. Code Ann. § 24-10-606 Early retirement
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(a) An active member in covered employment who has not attained his or her normal retirement age may retire with an early annuity as provided in this section upon his or her proper application to the Board of Trustees of the Arkansas Local Police and Fire Retirement System settin…
Ark. Code Ann. § 24-10-607 Disability retirement — Definitions
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(a) (1) (A) (i) An active member with five (5) years of credited service, including credited service for seventy-five percent (75%) of the two (2) years immediately preceding his or her disability, who while an active member becomes totally and permanently physically or mentally …
Ark. Code Ann. § 24-10-608 Death of member in paid service
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(a) (1) If an active member with five (5) or more years of credited paid service, including credited service for the year immediately preceding his or her death, dies in employer-paid service before retirement, the applicable benefits provided in this subsection and subsections (…
Ark. Code Ann. § 24-10-609 Death of member in volunteer service
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(a) (1) If an active member who has accrued five (5) or more years of credited service, including credited service for the year immediately preceding his or her death, or who has attained his or her normal retirement age dies in employer volunteer service before retirement, the a…
Ark. Code Ann. § 24-10-610 Limitations on death and disability annuities
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If a death annuity is payable on behalf of a member who dies in employer service before retirement, or for the portion of a disability annuity payable before a disability retirant's attainment of fifty-five (55) years of age, the total amount of the system annuities based on paid…
Ark. Code Ann. § 24-10-611 Termination of covered employment
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(a) A member who terminates covered employment before attaining his or her normal retirement age, for a reason other than death, early retirement, or disability retirement, shall be entitled to an annuity computed in accordance with the provisions of this section, as it provides …
Ark. Code Ann. § 24-10-612 Redetermination of benefits
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(a) Beginning with the July 1 that is at least twelve (12) full months after the effective date of a monthly benefit, the amount of the benefit shall be redetermined effective each July 1, and the redetermined amount shall be payable for the ensuing year. (b) The redetermined amo…